Search results for

As Hong Kong follows international trends and prepares regulations on analyst conflicts, securities houses must review their compliance policies. By Timothy Loh and Gary Da Silva

The Indonesian central bank, Bank Indonesia, has issued one regulation and three circular letters to enhance the legal certainty of its administrative duties, particularly those related to Bank Indonesia's scripless securities settlement system (BI-SSSS). This is used in the administration of Bank Indonesia certificates (sertifikat Bank Indonesia or SBI), securities issued in rupiahs by Bank Indonesia as short-term acknowledgment of indebtedness, and sovereign debts (surat utang negara or SUN) consist of treasury bills and government bonds (securities issued by the government of Indonesia as long-term debt instruments in rupiahs or other foreign currency denominations). All of the issuances are dated February 16 2004. They are:

Consolidation in the US financial sector is proving to be a valuable source of work for law firms this year. The arrival of two new multi-billion dollar deals last month confirmed that banking mergers are a hot area for mandates. Several firms have benefited from the trend so far, but Wachtell Lipton Rosen & Katz has been most successful, with a series of assignments advising target banks.

Internet search engine provider Google could open the door to new types of initial public offering (IPO) if its flotation, which filed last month, is a success later this year.

Downgraded: Sainsbury's sold US subsidiary without needing consent Investors should be wary when buying bonds in companies vulnerable to leveraged buyouts because of the weakness of bondholders' covenant protection, according to Fitch Ratings.

Legal harmonization is welcome. But practical systems for getting information to investors could do more to encourage a European wide capital market, says Brian McCall

Questions remain over the rights of creditors in second lien debt transactions. Neil Cummings and Kirk Davenport explain

The Hong Kong government recently completed Asia's first asset-backed deal to be sold to retail buyers. Stephen Roith, Mary Matson, Connie Heng and Gareth Old look at how the transaction was structured

Tube Lines' £2.1 billion ($3.7 billion) bond issue last month used a novel structure that lawyers say will open a new source of investment in project financing.

Paul Weiffenbach assesses proposed reforms affecting asset-backed deals