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Under the terms of its entry to the WTO, China is committed to allowing greater access to its banking sector. Despite the slow inroads being made by foreign institutions, however, rules remain in place that will slow their progress, as Lester Ross of Paul, Weiss, Rifkind, Wharton & Garrison, Beijing, explains

In a recent decision regarding the battle for Australia’s Normandy Mining, the Takeovers Panel made its first decision on break fees and has released its reasoning. Baden Furphy and Tony Damian of Freehills’ Melbourne and Sydney offices discuss the ruling and its implications

Growth in the Canadian securitization slowed dramatically last year but there are grounds for optimism in favourable treatment by the courts and the growth of products such as extendable commercial paper as a liquidity substitute. Martin Fingerhut of Blake, Cassels & Graydon, Toronto, looks at the market’s future

Cadwalader, Wickersham & Taft has hired former Shearman & Sterling partner Stephen Mostyn-Williams to build a dedicated banking and finance practice in Europe.

Shearman & Sterling opened its first office in Italy on March 18 in Rome and plans to open another in Milan. Partners Michael Bosco and Robert Ellison, together with Italian lead associate Domenico Fanuele, will lead the Rome operation. The office initially comprises about 10 lawyers with room for 25. And the firm is hunting for more. "We are actively looking for an Italian partner [from another firm]," said Ellison last month.

Linklaters & Alliance has won the top award at IFLR's European awards ceremony in London, scooping the title of European capital markets team of the year.

Ben Maiden reports on the findings of this year’s IFLR international bond survey, where Allen & Overy has kept its nerve and its lead on stand alone bonds and Clifford Chance has leapt further ahead on securitization

The Andersen Legal network started to break up in April after plans to merge the auditor with big five rival KPMG collapsed.

The New Zealand government is in the process of a major reform of the country's securities law. The reform is a three-stage process, consisting of the enactment of a Takeovers Code, the introduction of a Securities Markets and Institutions Bill and a review of securities trading law. The first stage of the law reform package, the introduction of a Takeovers Code, was completed in July 2001 and the second, the introduction of the Securities Markets and Institutions Bill, is underway. (Buddle Findlay has commented on each of these developments in previous issues of IFLR.) The third of the trinity of reforms will be a comprehensive review of securities trading law. In a speech to a commercial law conference, the Minister of Commerce, Paul Swain, recently outlined the scope of the review and reiterated the direction of future securities law reform.

In a landmark ruling, the SEC has allowed American Life to communicate with investors purely via the internet. However, as Sebastian Sperber and Eric Kolodner of Cleary, Gottlieb, Steen & Hamilton in Hong Kong explain, it is far from clear where this will lead or what the effects of the Electronic Signatures Act will be