IFLR Search

SEC to look at corporate democracy

The Securities and Exchange Commission (SEC) delighted shareholder rights advocates and dismayed many companies in April by announcing that it is to review proxy rules with a view to improving corporate democracy.

April 30 2003

Cutting edge - close up: ABN Amro opens Chinese funds industry

The first acquisition of a Chinese fund management company by a foreign investor could pave the way for greater market access and wider industry reform. May Qian and Leigh Schulz of Linklaters, reveal how the deal was done

April 30 2003

In brief

UK firms advise on London's largest equity deal of the year

April 30 2003

Azerbaijan

A recent decree of the Cabinet of Ministers of Azerbaijan linking registration requirements for foreign companies for the purposes of the Ministry of Taxes and the Ministry of Justice may have useful applications wider than those originally envisaged by its drafters.

April 30 2003

Taiyo IPO broadens fundraising options for Japanese life insurers

Exactly one year after the first-ever demutualization and listing of a Japanese life insurance company, Taiyo Mutual Life Insurance has become the first player in the industry to follow suit.

April 30 2003

Hungary

Government decree 12/2003 on the non-judicial enforcement of liens, pledges and mortgages (collectively referred to as charges) provides detailed regulations awaited by the banking industry since September 1 2001 when the Civil Code established the basic rules of non-judicial enforcement. The Decree became effective from March 1 2003.

April 30 2003

British Virgin Islands

On April 10 2003 a new Insolvency Bill received its first reading in the British Virgin Islands (BVI). At the time of writing copies of the Bill were not available but previous drafts have been circulated and the government has engaged in extensive discussions with the private sector over the past two years. It is therefore possible to predict with a fair degree of certainty the likely provisions of the Bill.

April 30 2003

Saudi Arabia

The Gulf Cooperation Council (GCC) comprised of Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates announced the creation of the GCC Customs Union at the conclusion of the 23rd Annual Summit held in Doha in late December 2002. The Customs Union commenced on January 1 2003.

April 30 2003

New Zealand

There have been some important changes to the regulatory framework governing the New Zealand Stock Exchange (NZSE) in the last six months. The main changes are a new continuous disclosure regime, principally governing continuing disclosure by listed companies to the market of material information about themselves, and demutualization of the NZSE, coupled with legislative changes delineating the regulatory roles of the NZSE and the statutory regulator, the Securities Commission.

April 30 2003

South Korea

Although global insurance firms are pushing into the Korean market - the world's seventh largest in terms of insurance premiums - the threat posed by foreign rivals is a minor issue next to the challenges created by the proposed Insurance Business Law (IBL). The Bill focuses on overhauling the existing regulations in the insurance sector to meet global standards in terms of asset management, market competition, supervisory systems and consumer protection.

April 30 2003

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