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  • Companies listed on London's Alternative Investment Market will be exempt from Europe's costly Prospectus Directive under plans drawn up by the London Stock Exchange (LSE).
  • Senior lenders are starting to compromise over the structure of European high-yield bonds. Diane Roberts explains why
  • HBOS has shown that issuing covered bonds is possible without specialized legislation. Local laws will determine whether Asia’s banks can follow suit. By Richard Mazzochi and Abigail Rath
  • The Swiss parliament enacted an amendment to the Federal Act on Cartels on June 20 2003. The deadline has passed for a referendum against the amendment so it will most likely enter into force on April 1 2004.
  • As the US equity markets have begun to look healthier, mergers and acquisitions activity has also increased. November saw a spate of multi-billion dollar deals being unveiled, with healthy mandates going to a range of law firms.
  • The Korean government has combined the Securities Investment Trust Business Act and the Securities Investment Company Act to create the Indirect Investment Asset Management Business Act, covering both investment trusts and investment companies. Under the new Act, effective from January 4 2004, a single set of regulations governs all types of asset management. The new Act strengthens the protection available to investors and expands the scope of assets subject to management.
  • White & Case and Orrick, Herrington & Sutcliffe have completed California's first large debt financing since the recent gubernatorial recall election. The deal raised $3 billion through a new use of revenue anticipation notes (RANs).
  • As the technology industry recovers, venture capitalists are softening their investment demands, but only a little. Megan Murphy reports
  • The European Commission has resurrected a 19-year-old project to simplify cross-border mergers, while a new transatlantic argument has flared over the Takeover Directive.
  • From the beginning of December, non-EU issuers of equity, equity-linked or low denomination debt securities in the EU will be permanently restricted as to where they can apply for approval of their prospectus.