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In an effort to simplify its foreign investment legislation and bring it into line with international standards, Turkey passed Law Number 4875 on Foreign Direct Investment in June 2003. The law eliminates the previous inequalities between foreign and local investors and simplifies the process for establishing a company in Turkey, demonstrating the country's dedication to promoting foreign investment.

The Ontario Securities Commission has recently published for comment Proposed OSC Rule 48-501 (Trading During Distributions, Formal Bids and Share Exchange Transactions), which would impose trading restrictions on dealers and issuers involved in a distribution of securities and certain other transactions, such as a securities exchange takeover bid, an issuer bid or an amalgamation, arrangement, capital reorganization or similar transaction. The purpose of the rule is to prescribe safe harbours and to otherwise restrict trading activities and preclude manipulative conduct by persons who might have an interest in the outcome of such a distribution or transaction.

Proposals to end the practice of paying soft commission are on the table in both the UK and the US. Michael Evans reports

The results of a study by Yale University unveiled at a conference in San Francisco prove that the right kind of securities laws make for bigger and better stock markets.

Speakers at an IBA session last month on Europe's Prospectus Directive said they were unconvinced the law will benefit the capital markets.

Spanish firm Uría & Menéndez is advising energy company AES on the €665 million ($766 million) financing for the construction of the largest independent power project developed in Spain so far.

With a series of securitizations coming to market, including Switzerland's first commercial mortgage-backed deal and its largest public securitization, some observers are again optimistic about the erratic Swiss structured finance market. Megan Murphy explores whether these transactions are part of a new wave of deal-making, or just another blip

The North American Securities Administrators Association (Nasaa) has chosen a new president at a time when US states are fighting to define their role in securities regulation.

Directors' attitudes are vital in determining the success of corporate governance reforms, a panel of general counsel told an IBA session.

Andrew Crooke reports on a new way of measuring how good the world’s securities watchdogs are at creating safer markets