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  • Last month the SEC approved proposed new rules on the conduct of lawyers under the Sarbanes-Oxley Act. Richard Hall at Cravath Swaine & Moore questions whether the Commission should be regulating the legal profession at all
  • Herbert Smith advises insurer on rights issue and restructuring
  • The signing of Vietnam's first build-operate-transfer project financing is being tipped to show the way for further deals of this type in the power sector.
  • Backers of Russian companies are looking forward to increased protection for their investments after comprehensive reform of the country's bankruptcy procedure was confirmed at the end of October.
  • The UK government has conceded that secondary legislation is needed to ensure the Enterprise Act does not restrict innovative securitizations.
  • Contrary to the Indian government’s economic plan, amendments to the country’s takeover laws will discourage foreign investments. Abhimanyu Jalan and Saviprasad H R of Pathak & Associates explain
  • Distressed Turkish companies in almost every industry are attempting to restructure their debts to survive and continue their operations in the wake off the recent economic crisis. The main piece of legislation addressing restructuring is Law No 4743 on Restructuring of Debts to the Financial Sector and amendments to certain laws followed by the Regulation on the General Terms of the Approval, Acceptance and Implementation of Financial Restructuring Framework Agreement.
  • Kevin Keogh of White & Case, New York, looks at the arguments surrounding the creation of independent analysts in the US, and suggests that trying to remove all conflicts of interest could be a waste of time
  • The Swiss Federal Banking Commission has circulated a draft regulation that defines the term public offering as used in the Investment Fund Act. The Act codifies the current practice of the Federal Banking Commission regarding the term public offering not only under the Investment Fund Act but also under the Banking Act and under the Stock Exchange Act.
  • On the basis of existing legislation Italian regions and local authorities have been entitled to receive payment of the a 50% withholding tax that could have been applicable to their notes. In the absence of specific regulatory provisions and failing any express provision in the budget laws of the Republic of Italy, this legislation had never been applied. This has created some confusion and uncertainty about the accounting treatment of such claims at territorial level.