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Market watchdogs around the world are collaborating to establish a special task force to look at ways to increase bond market transparency and clamp down on the uncontrolled use of offshore financing vehicles.

Aendments to Russia's competition law will free small companies from state control but increase scrutiny of the country's oligarchs.

Seven months after the SEC implemented new reporting rules for corporate counsel, Linda Madrid of the Association of Corporate Counsel says legal departments are responding well but still fear potential noisy withdrawal reforms

Michael Evans surveys the approach to legal staffing among some of Europe's biggest companies

Continuing their challenge to the ratable-payment interpretation of pari passu clauses in cross-border debt, Lee C Buchheit and Jeremiah S Pam trace the evolution of the clause to find out what it truly means

Simon Crompton analyzes the performances of the best securitization practices in last year's growing structured finance market

In January 2004 the Russian government issued a number of regulations clarifying the application of certain tax exemptions under the Production Sharing Agreements (PSA) regime. In particular, the government approved the list of documents that a PSA investor is required to file with the customs office in order to obtain customs exemptions and with the tax authorities to obtain property and transport tax exemptions. Although these exemptions originally provided for in Charter 26(4) of the Tax Code, their practical implementation to date was not possible as it was contingent upon further regulatory acts of the government.

The long-expected decree of the Ministry for Economy and Finance, to be issued in accordance with the provisions of Article 41 of Law 448 of December 28 2001, has been published.

The trust has always been regarded as one of the best succession vehicles, but using a trust to cater for the succession of shares in companies has historically been impeded by a rule of English trust law that is designed to help preserve the value of trust investments. This rule, which is known as the prudent-man-of-business rule, has traditionally made the trust an unattractive vehicle to hold assets that settlors intend trustees to retain. Another aspect of the rule effectively requires trustees to monitor and intervene in the affairs of underlying companies. This also creates difficulties both from the settlor's standpoint and from that of the trustees.

Baku-Tbilisi-Ceyhan: a deal three years in the making The financing of the Baku-Tbilisi-Ceyhan pipeline, one of the largest pipeline projects in history, has closed after years of controversy.