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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.

Hong Kong has joined the growing number of jurisdictions where synthetic collateralized debt obligations (CDOs) are becoming popular.

A group set up by the EU to advise on the regulation of financial analysts has met for the first time.

The Securities (Miscellaneous) (Amendment) Rules 2002, which came into effect on November 15 2002, introduced new exemptions for section 80 of the Securities Ordinance for relieving prohibition of the uncovered short selling of securities.

European competition regulators will not go easy on the financial services industry just because they are keen to promote a single financial market, according to competition commissioner Mario Monti.