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  • The Finnish Parliament in February 2003 approved a new Act on Statutory Limitations (ASL). The aim of the ASL is to harmonize the several different periods of limitation in the current Finnish legislation. But the ASL will be a general act (lex generalis) and as such will be superseded by any special act (lex specialis) containing special limitation periods. The ASL is expected to become effective during the first part of 2004.
  • Securities regulation in Hong Kong is failing to meet the needs of international business. If it doesn’t change soon, investors may look to Singapore instead. By Andrew Crooke
  • The Investment Services Directive (ISD), now the subject of high level debate by politicians in Brussels, will shape the structure of Europe's capital markets for years to come. But bankers say plans to force brokers to quote prices openly to the market could lead them to take their business outside the EU in search of more bank-friendly share trading regimes abroad. IFLR brought together a group of London-based regulators, lawyers and industry representatives to discuss the issues
  • Medco Energi's recent high yield bond deal combined a simultaneous new issue with an exchange offer and consent solicitation for the first time in Indonesia. By Tim Steinert of Freshfields Bruckhaus Deringer and Joan Janssen of Freshfields Drew & Napier
  • By Michael Evans and Tom Williams
  • Morrison & Foerster is benefiting from a trend of German companies selling to US private investors, including work on the biggest German private placement in the US yet.
  • Singapore has shifted from merit-based regulation to a disclosure-based regime. But an IFLR straw poll shows that professional advisers need more guidance to help make this work in practice. Andrew Crooke reports
  • Whitney Debevoise and David Orta of Arnold & Porter look at recent rulings on class action suits that followed Argentina's bond default, and argue that negotiated restructurings are the best way to resolve sovereign debt disputes
  • 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
  • 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.