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The Takeover Board is a federal commission established under the Swiss Federal Act on Stock Exchange and Securities Trading (SESTA). It has jurisdiction to issue general rules and ensure compliance of public offers with the provisions of SESTA. In particular, potential offerors and their legal advisors should be aware of the following recommendations issued by the Takeover Board.

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.

IFLR is pleased to announce the nominated deals and law firms for its annual awards, reflecting legal innovation across all areas of corporate finance. Winners will be announced at our ceremony at The Ritz-Carlton, Hong Kong, on March 11.

LVMH: awarded €30 million in initial damages A French court has set a possible precedent for companies to sue analysts for publishing negative research.

India's securities regulator will stifle the country's $4 billion derivatives market if it misjudges the riskiness of participatory notes and imposes unnecessary regulation. By Sandeep Parekh

The effort to bring international standards to the PRC's growing investment funds industry may fall short because of self-imposed limits, say Effie Vasilopoulos and Katherine Abrat

In February 2004 the Swedish parliament is expected to approve a new Swedish Investment Funds Act (lag om investeringsfonder). The Act will implement the amendments adopted in 2002 (European Community directives 2001/107/EC and 2001/108/EC) to the EC directive regarding undertakings for collective investment in transferable securities (Ucits). The Act contains provisions on harmonized funds and so-called mutual funds (värdepappersfonder), as well as funds that are not harmonized with the Ucits Directive, such as hedge funds (which are called special funds (specialfonder) under the Act). Mutual funds and special funds are collectively called investment funds under the Act.

The Companies (Auditing & Accounting) Act 2003 introduces important changes to Irish company law. The Act is a response to concerns that have arisen in light of international accounting matters and it imposes additional obligations primarily on both company directors and company auditors.

A new interpretation of the pari passu clause in cross-border debt says borrowers must pay creditors on a ratable basis. If correct, this would change the patterns of international finance. But this ratable- payment theory is a fallacy. Lee C Buchheit and Jeremiah S Pam explain why

Construction on the latest addition to Sydney's transport network will begin this year after a novel financing structure made the Lane Cove Tunnel the world's first greenfield toll road project to be funded through the capital markets.