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Global best practice report highlights split

The release of draft recommendations for best practice in cross-border legal services at an IBA showcase session highlighted divisions within the profession.

September 30 2003

Prospectus law harmful, say specialists

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

September 30 2003

Leadership the key to governance reform

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

September 30 2003

Securities watchdogs to face quality-control tests

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

September 30 2003

Defending the value of self-referenced credit-linked notes

The success of self-referenced credit-linked notes as a new investment tool depends on whether lawyers can overcome concerns that their redemption is in fraud of bankruptcy laws. Scott Farrell of Mallesons Stephen Jaques considers how this can be done

September 30 2003

Finland

A Finnish Ministry of Justice working group has issued a proposal for an Act on Financial Collateral Arrangements (the Act). The purpose of the Act is to implement the Directive on Financial Collateral Arrangements (2002/47/EC). The proposal is now subject to comments, and the Finnish parliament is expected to consider it within the next two months.

September 30 2003

SEC to exempt foreign banks from insider lending ban

The SEC last month responded to pressure from European banks by suggesting exemptions for foreign financial institutions from the ban on insider lending introduced by Sarbanes-Oxley. Kenneth Blackman of Fried Frank Harris Shriver & Jacobson explains which banks could qualify

September 30 2003

Busy week for US offerings brings welcome tonic for advisers

The US equity markets continued to return to life with a rush of initial public offerings (IPOs) last week. The deals, which included both new and mature technology companies, offered a welcome return to the fray for legal advisers at a range of firms.

September 30 2003

Yale study proves good securities laws mean more public offerings

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.

September 30 2003

Austria

In July 2003 the Austrian parliament enacted the Real Estate Investment Fund Act (Immobilien-Investmentfondsgesetz - ImmoInvFG), which came into force on September 1 2003. This new legislation aims, in particular, to encourage private investments in real estate. Previously, Austrian law had only contained rules concerning investment funds in securities.

September 30 2003

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