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Amended listing rules have confused lawyers The perseverance of legal and financial advisers on the initial public offering (IPO) of China's Ping An Insurance has averted the threat that a recent change to listing rules would render pre-deal research on Hong Kong deals worthless.

Throughout late 2003 and early 2004, the Turkish Capital Markets Board (the CMB) promulgated a number of new regulatory acts.

The European Commission has published its proposals for a directive on capital requirements for banks, which will turn the new Basel Accord into EU law.

US and Mexican law firms last month helped close the first SEC-registered initial public offering (IPO) to emerge from Mexico in five years.

On June 28 2004, amendments to Ontario Securities Commission (OSC) Rule 61-501 - Insider Bids, Issuer Bids, Business Combinations and Related Party Transactions came into force. The Rule protects the interests of minority security holders of issuers by providing (i) greater disclosure regarding, (ii) an independent valuation of, and (iii) an effective veto over, certain transactions with perceived inherent conflicts of interest. It is expected that similar amendments will be made to Quebec Policy Statement Q-27, the only other Canadian jurisdiction to maintain equivalent rules.

Governments across Asia are merging their financial watchdogs amid mounting pressure to improve the quality of regulation.

Listing non-equity securities on a continuous or repeated basis under a euro medium-term note (EMTN) programme on the Vienna Stock Exchange (VSE) will be expressly permitted from October 12 2004.

The Securities and Exchange Commission voted in July to put forward a new rule that would force most hedge fund advisers to register with the regulator.

Biotech is back in Germany Latham & Watkins and Hengeler Mueller advised on Germany's first initial public offering for a biotech company since 2001 and only the fourth IPO in the country this year. Latham advised the company, Epigenomics, on the €41.6 million deal. Hengeler Mueller acted for lead manager Morgan Stanley.

The success of Australia's corporate law reforms depends on the regulators taking a tougher, but still realistic and understanding, stance to ensure listed entities meet their continuous disclosure obligations, says Alison Lansley