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Recent corporate scandals in the US and related discussions concerning the independence and integrity of analysts and their investment research have led to similar discussions in Finland. This article provides a brief overview of the Finnish rules and regulations applicable to investment research.

The revision of the exemption regulation that has caused problems for borrowers (see main feature) has also affected securititizations, putting billions of dollars of transactions temporarily at risk.

Life for foreigners issuing securities in The Netherlands has been made more difficult by a recent amendment to the law. Michael Evans reports on what lawyers are doing to change this

Global derivatives transactions are set to benefit fromimproved legal certainty thanks to a new master agreement document improving close-out procedures ( see article).

The Securities and Exchange Commission (SEC) voted last month to order mutual funds to disclose how they cast proxy votes, in a defeat for the $6.6 trillion industry.

After several years of restructuring and writing off bad loans, Asian banks want to raise their capital adequacy ratios by issuing hybrid tier one securities. Sanghoon Lee of Linklaters looks at the steps regulators have taken so far and considers the structural challenges that remain

The Securities and Futures Commission (SFC) is looking forward to a new era in Hong Kong's financial markets with the long-awaited Securities and Futures Ordinance (SFO) due to come into effect on April 1 2003.

Belgium's lawmakers are hoping to learn from the mistakes of the US and their European peers and bring legal certainty to the supervision of markets and the behaviour of listed companies.

The Shoura Council, a highly influential consultative group made up of some of the leading Saudi Arabian nationals, has rejected a proposed 10% income tax on foreign individuals. While, Saudi Arabia levies corporate taxes, it has traditionally not levied an individual income tax on expatriate workers. However, the country was considering levying a tax on expatriates as a means of reducing public debt and reducing the number of foreign workers in the hope that unemployed Saudi Arabian nationals would replace them.

The understandable haste of Asian governments to create insolvency frameworks to revitalize their post-1997 economies has created as many problems as it has solved. Robert Zafft of the OECD and Lampros Vassiliou of Allens Arthur Robinson explain