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Moscow lawmakers unlock mortgage potential

New legislation should help promote the development of asset-backed financings in Russia. By Vladimir Dragunov

January 01 2004

Ontario leaves limitation questions unanswered

Ontario's new statute of limitations is an important modernization, but it leaves the door open to disputes and litigation. Jay Lefton of Aird & Berlis LLP explains

January 01 2004

Tax doubts take shine off German hedge fund law

German and foreign hedge funds can target German investors for the first time. But the complexity of the corresponding tax regime stands in the way of rapid growth in the industry. By Edgar Wallach

January 01 2004

Orrick hires Skadden lawyer in Japanese finance push

Orrick Herrington & Sutcliffe strengthened its real estate finance and securitization practices recently in Tokyo after hiring senior Skadden Arps Slate Meagher & Flom specialist Mark Brooks as a partner.

January 01 2004

Raters criticize credit swap derivatives

Ratings agencies Fitch and Standard & Poor's have both issued reports criticizing credit derivatives.

January 01 2004

Market Abuse Directive: banks call for safeguards against client lawsuits

Banks fear they could face client lawsuits for reporting suspicious transactions under Europe's new Market Abuse Directive. Firms led by the European Banking Federation have proposed changes to the implementation rules for the Directive to protect the industry.

January 01 2004

Europe drops quarterly reporting

European finance ministers have rejected quarterly reporting for companies. The European Commission wanted all the EU's 7,000 listed companies to move to a US system of quarterly reporting, but a compromise over the terms of the forthcoming Transparency Directive will allow listed companies to publish audited financial statements only twice a year, with a general description of their financial position.

January 01 2004

UK regulator closes tier one window

The UK's Financial Services Authority has officially ruled that banks can no longer issue tax-deductible securities that will qualify as core tier one capital.

January 01 2004

Two ways around Russia's security hitch

Local law means bankers cannot rely on security trustees in syndicated deals. John Balsdon and Liza Ivanova review the alternatives

January 01 2004

US structured finance

In traditional models, it is the job of central banks to moderate credit cycles. By that measure, there is little to say that is favourable about the work of the US Federal Reserve System between April 1998 and October 2002. For nearly six years before 1998, conditions slowly improved, going from unnerving through cool to Goldilocks on the chart. Almost everyone claims credit for that virtuous cycle. The horrible period from 1998 to 2002, however, remains unclaimed.

January 01 2004

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