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Why China Netcom chose the Chapter 11 route

The final part of this deal analysis reveals why an asset purchase through a US Chapter 11 case was the best way for state-owned telecoms operator China Netcom to buy Asia Global Crossing. Edward Turner, Sandor Schick and Etienne Gelencsér of Shearman & Sterling explain

April 30 2003

FSA calls time on research sweeteners

UK money managers are reeling from bold new plans to force them to separate charges for trading and non-trading costs. Thomas Williams talks to the woman behind the proposals, Christina Sinclair, head of the Financial Services Authority's business standards department

April 30 2003

Switzerland

On January 24 2003, the Swiss Bankers Association (SBA) issued directives on the independence of financial research. The Federal Banking Commission (FBC) ratified these on January 29 2003 as minimal standards of self-regulation (code of conduct).

April 30 2003

Steel mill financing shows new way for dual currency deals in China

A dual US dollar/Chinese renminbi funding for a stainless steel mill operation in Shanghai has helped advance financing opportunities in China - especially for phased projects that involve different lenders at each stage.

April 30 2003

Shell makes lateral hire for new general counsel

Shell Group has raided one of Europe's biggest engineering companies to hire a new legal director.

April 30 2003

Canadian regulators plot merger

Stephen Sibold, Canadian Securities Administrators The Canadian Securities Administrators (CSA), the umbrella organization representing the country's various local securities regulators, has appointed Stephen Sibold as chair. His appointment follows disagreements within the CSA regarding the future of national securities regulation in Canada.

April 30 2003

OECD targets areas for Asian corporate governance reform

The OECD's forthcoming White Paper on Corporate Governance in Asia is to recommend greater protection of minority shareholders, improved bank governance and a focus on enforcement of laws and regulations.

April 30 2003

Will Hong Kong's stabilization rules help the market?

New rules to address price volatility in securities offerings have been introduced in Hong Kong. John D Moore of Goldman Sachs explains how the regulations meet international standards and reviews some areas that may need a closer look

April 30 2003

Canada

The Ontario Securities Commission recently issued proposals to amend Rule 61-501, which governs insider bids, issuer bids, going private transactions and related party transactions. The Rule protects security holders by providing greater disclosure regarding, independent valuation of, and effective veto over, certain transactions with perceived inherent conflicts of interest. The amendments seek to clarify confusing provisions and eliminate regulatory burden where compliance costs may outweigh the benefits.

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

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