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  • The International Accounting Standards Board (IASB) received surprise support for its controversial new derivatives rules last month.
  • Germany needs to amend its insolvency laws to grow its structured finance market, according to a recent study by Lovells and international consulting firm The Boston Consulting Group.
  • An innovative debt-equity hybrid product looks set for take off in the US over the coming months, raising new opportunities for issuers and counsel.
  • English law firms Charles Russell and Berwin Leighton Paisner advised on the AIM listing of online money transfer company NETeller, the largest deal of its type so far in 2004.
  • A legal glitch has hit cheap housing in the UK The UK government is taking steps to correct flawed legislation that it believes led to a court decision allowing entities other than standard companies to enter administration.
  • NYSE: may face investigation The New York Stock Exchange (NYSE) and the Securities and Exchange Commission reached a settlement with five firms last month over charges of improper trading, requiring the firms to pay a total of $241.8 million in penalties and reimbursements to investors and to improve their compliance systems.
  • The UK market regulator last month fined an individual director of a public company for the first time, signaling a shift towards tougher enforcement standards.
  • US and European treasurers have released an issuer-friendly draft code of practice for ratings agencies that they would like to see adopted as standard practice.
  • Starting January 1 of this year, China liberalized three types of financial services on better terms than its World Trade Organization commitments, pursuant to the Mainland/Hong Kong Closer Economic Partnership Arrangement (Cepa).
  • Italy is restricting new issues The Bank of Italy is increasingly using a controversial rule to stop investment banks selling complex securities to Italian institutional and retail investors, say bankers and lawyers working in the Italian market.