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After more than two-and-a-half years of preparation, Bank Mandiri has launched Indonesia's largest initial public offering since Asia's 1997 financial crisis.

Sidley Austin Brown & Wood and Linklaters have advised on a sale and leaseback deal for the British Broadcasting Corporation (BBC), the largest transaction of its type in Europe.

US firms Hogan & Hartson and White & Case helped close the first project financing for wind power in July. The deal, valued at $380 million, will finance a portfolio of wind farms and is expected to open the market for similar deals.

On April 30 2003 the Cayman Islands Monetary Authority, after consultation with the private sector, introduced further revisions to the Guidance Notes on the Prevention and Detection of Money Laundering. The Guidance Notes are ancillary to the Money Laundering Regulations and recommend anti-money laundering best practice measures. The most important changes concerned the role of the Money Laundering Reporting Officer (the MLRO), particularly in relation to mutual funds.

Some asset-backed deals will still prove difficult under the UK's new insolvency regime despite broad exceptions to make securitizations feasible. Richard Ambery of Mayer Brown Rowe & Maw looks at how the treatment of loans to be securitized might change

Proposed regulations in Hong Kong place too much responsibility for company disclosure on sponsors. Issuers must also share the task of keeping investors informed, says Stephen Fletcher of Linklaters

In early March 2003, the president of Ukraine signed into law the long-awaited new Civil and Commercial Codes, passed by the Parliament of Ukraine on January 16 2003. The new Civil Code replaces the effective 1963 Civil Code of the Ukrainian SSR, while the commercial code is essentially a new concept for Ukrainian legislation. Both codes will come into effect on January 1 2004.

Grant McCrea of Dewey Ballantine explains how France's Credit Agricole Indosuez successfully brought action in New York over disputed currency swap contracts with Russia's National Reserve Bank

Saudi Arabia recently promulgated a long awaited law to formally regulate the country's stock market. Saudi Arabia does not have a physical stock exchange, although shares are traded by electronic means through local banks and are regulated by the Saudi Arabian Monetary Agency (SAMA), the Kingdom's central bank. The electronic exchange (Tadawal) and the Saudi Shareholding Registry will be transferred to the new capital market authority. The new market will be named the Saudi Capital Market and will be established as a joint stock company. The new law calls for setting up two new bodies: The Saudi Arabian Stock Exchange and The Exchange Commission.

The Fair Trade Commission of Korea (FTC) has amended its guidelines for filing an antitrust clearance/business combination report, with effect from July 1 2003.