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New rules exempting non-US banks from insider lending restrictions came into force last month.

To avoid the domino effect of a corporate failure, Australia may become the first common law jurisdiction to enact legislation depriving claimants of the right to uncapped damages. By Tessa Hoser, Nicholas Seddon and Paul Jenkins

Norway's Findexa will be the first company to issue high-yield dividend shares, known in the US as income depositary securities (IDSs), to Europe later this month.

Three banking associations have published guidance clarifying how firms should comply with new UK rules governing conflicts of interest on securities offerings.

Companies will have to disclose their impact on the environment The UK government is planning to compel all listed companies to disclose social and environmental factors affecting their business in a separate document for shareholders.

Christian Pilkington explains how Europe’s Credit Institutions Directive will simplify insolvency proceedings in the banking industry

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:

US law firms were among those celebrating the first international initial public offering (IPO) from a Mexican issuer in almost five years last month.

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.

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