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  • 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).
  • The Ministry of the Economy and Finance's Decree No 47 of January 31 2003, which recently entered into force, has substantially amended Ministerial Decree No 228 of May 24 1999 that regulates common investment funds. The most remarkable amendments are those relating to the discipline of real estate investment funds, under a new Article 12-bis.
  • Ben Maiden reports from New York on how Uruguay's proposed bond exchange is helping to rewrite the rules on sovereign debt restructuring
  • 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.
  • A survey has revealed the market is frustrated with the Financial Accounting Standards Board (FASB)'s new rules on off-balance sheet financing.
  • Shearman & Sterling has ploughed through a 149-page document and negotiated environmental and political compliance issues to secure the first listing of a South African oil company on the New York Stock Exchange (NYSE).
  • Telecoms company Paktel has successfully completed the first ever listed future flow securitization in Pakistan.
  • Hong Kong's securities regulator has responded to industry pressure by releasing draft rules to create real estate investment trusts. But there are doubts over whether some proposals are suitable says Effie Vasilopoulos of Johnson Stokes & Master
  • 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
  • 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