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The Securities and Exchange Board of India (Sebi) has proposed the introduction of a margin trading and securities borrowing and lending scheme in stock markets from February 1 2004.

The Collateral Directive (Directive 2002/47/EC) came into force in the Danish Securities Trading etc Act on January 1 2004. The new rules apply to financial collateral arrangements and close-out netting agreements entered into after that date.

A recent Tax Court of Canada decision has concluded that various expenses incurred in response to a hostile takeover bid, including so-called hello and break fees, are fully deductible.

Officials hope an immediate decree coupled with a more considered legislative programme will prevent another fraud such as Parmalat. Megan Murphy reports

Leading Wall Street firms Simpson Thacher & Bartlett and Wachtell Lipton Rosen & Katz won the lead advisory roles on what is likely to be one of the biggest mergers of 2004.

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.

The UK is set to legislate to allow real estate investment trusts for the first time. James Dakin considers how a new law might look

As Crédit Lyonnais has found, US reporting rules can prove hazardous to foreign banks operating in the country. Brian Volkman of Bayerische Landesbank in New York explains why

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.