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The New Zealand Bankers' Association (NZBA) has recently released the third edition of its Code of Banking Practice. The revised Code, which came into force on December 2 2002, does not make substantial changes to the second edition of the Code. It incorporates most of the material from a Statement of Principles issued by the Bankers' Association in 1999 and, unlike with previous editions, applies equally to business customers. The Code includes new sections about the provision of credit and merchant card services. It has also been reorganized and contains more explanation of each section, possibly at the expense of its accessibility to the public.

The Indian parliament passed the Securities and Exchange Board of India (SEBI) (Amendment) Bill 2002 on December 2, giving more powers - including search and seizure rights - to SEBI. The amendments introduce new standards for investor protection and regulation of the securities market.

Reforms to Russia's bankruptcy and insolvency proceeds should be paving the way to Russian prosperity, but good intentions are being undermined by less sophisticated thinking. Thomas Williams reports from Moscow

Ben Maiden reports from New York on reaction to the appointment of Harvey Pitt's replacement as SEC chairman

The proposed New York Stock Exchange corporate governance rules submitted to the SEC in August of 2002 and the Sarbanes-Oxley Act impose new requirements and obligations on audit committees. While most of these requirements will not become effective until 2003 and are subject to change through the SEC approval and rule-making processes, many companies are reviewing their audit committee charters to consider what changes may be required. Eric Robinson and Laura McIntosh of Wachtell, Lipton, Rosen & Katz in New York provide a model charter and explain some of its key elements.

The conditions under which the assignment of a claim can be invoked against the debtor of the claim and other third parties in Belgium are set out in Article 1690 of the Civil Code.

The cold winds of corporate scandal and tightening securities regulation are blowing north from the US. Ben Maiden reports on how Canada is trying to keep its own identity, at its own pace

Samsung Life Insurance has created a new template for Asia's increasingly sophisticated securitization market - cross-border residential mortgage-backed deals from Korea.

Government representatives have agreed on an international convention governing which law applies to cross-border securities transactions. Christophe Bernasconi and Richard Potok, who have spearheaded the negotiations over the past two-and-a-half years, explain the need for the Convention and how it will benefit the securities industry

The launch of Korea's first hybrid tier one issue has opened the way for what some observers predict could be a $3 billion market over the next 12 months.