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After aggressive European growth in 2002, Latham & Watkins is now focusing on its London capital markets practice with the hire of two senior lawyers and eight junior associates.

Clifford Chance has helped the UK Futures and Options Association (FOA) in its launch of revised guidelines on managing derivatives risk in the light of high-profile corporate collapses in recent months.

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.

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

The public offering of securities in the Czech Republic is regulated by Act No 591/1992 Coll on Securities (the Securities Act). The most recent amendments to the Securities Act include provisions intended to harmonize the legal framework for the regulation of the Czech capital market with EU law in anticipation of the accession of the Czech Republic into the EU in 2004.

The International Accounting Standards Board must rethink some of its proposed rule changes, say Mark Nicolaides and Saffron Street of Mayer Brown Rowe & Maw

In Canada, mergers and acquisitions tend to be negotiated and friendly. One of the reasons for this is that many Canadian public and private corporations have one or more major shareholders whose support is essential for an acquisition to succeed.

The New Zealand general election was held on July 27. Contrary to early predictions, the incumbent Labour government did not win enough seats in the House of Representatives to have a clear majority. Labour (52 seats) and the Progressive Coalition (two seats) won 54 seats between them in the 120 seat House and opted to form a minority government, relying on a formal agreement with United Future New Zealand (eight seats) to support them on matters of confidence and supply. Labour leader Helen Clark will enter her second three-year term as prime minister and the majority of cabinet ministers will retain their pre-election portfolios. Despite Labour winning only a minority of seats in the House, it is likely that the government will continue with its pre-election monetary, banking and securities markets and institutions policy.

In July 2002 the pan-European exchange virt-x announced the introduction of a central counterparty (CCP) for spring 2003. With the interposition of the CCP between the parties trading on virt-x, clearing as a new element will be introduced after the trading (buying and selling of securities) and before the settlement (delivery and payment of securities in fulfilment of the contractual obligations resulting from trading).

The Turkish Parliament enacted Law No 4632 on Individual Private Pension and Investment Systems on April 7 2001, and this came into effect on October 8 2001, paving the way for the establishment and operation of pension companies and investment funds, individual private pension systems and individual private pension intermediaries.