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The UK's market regulator is to develop a disclosure regime for short selling and is considering ways in which to set up a cost-efficient framework to measure this controversial practice.

The SEC last month received support for its plans to tackle concerns over analysts when the Bond Market Association (TBMA) gave its backing to proposals covering fixed income research.

After months of corporate scandals over accounting irregularities, international and US standards-setters have begun a process to harmonize their rules and create a single global standard by 2005.

More complex securitization structures have less chance of protecting investors from losses should the originator go bankrupt, a new survey reveals.

The US should not meddle in the organization of companies outside its jurisdicion, even if those companies access the US markets, says Ed Greene of Cleary Gottlieb Steen & Hamilton

The Ministry of Foreign Trade and Economic Cooperation (Moftec) has issued a notice which permits the establishment of joint venture logistics enterprises in certain pilot cities and provinces in China. The Notice on Issues Related to the Launch of Pilot Projects for the Establishment of Foreign-Invested Logistics Enterprises was issued on June 20 2002 and came into force 30 days later. It applies in Beijing, Tianjin, Shanghai, Chongqing, Zhejiang, Jiangsu, Guangdong and the Shenzhen Special Economic Zone.

The Federal Act on Money Laundering which came into force in 1998 places several obligations of due diligence (that is, identification of the contracting party, verification of beneficial owner, clarification of suspicious transactions and so on) on financial intermediaries. It applies to all financial intermediaries whether those already supervised by special legislation (such as the banking sector) or those in the non-banking sector, which were in 1998 not yet subject to any special supervision. In the non-banking sector the Act applies to all persons who, on a professional basis, accept, hold in deposit or assist in the investment or transfer of assets belonging to third parties.

The application of the EU's new Insolvency Directive will not be as uniform in practice as is hoped, say Raffaele Rizzi and Georgina Caldwell of Credit Suisse First Boston

Banks that have lent to telecoms companies should re-examine their security packages. Getting their money back could be harder than they think. By Diane Mage Roberts of Orrick Herrington & Sutcliffe

After another year of tough equity markets, Tom Williams reports on the legal advisers faring best and those fighting decline