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  • Japanese corporate governance is in the process of undergoing major reform. As part of this, amendments in the areas of directors` liability, derivative actions and corporate auditing will take effect on May 1 2002.
  • A draft government bill for a new act on real estate investment funds (Immobilien-Investmentfondsgesetz) aims to establish a new type of investment fund in Austria, namely, the real estate investment fund.
  • The election of a new government could mean radical changes in the Portuguese financial markets. Some Lisbon lawyers think it may be too late. Thomas Williams reports
  • The EU's High Level Group of Company Law Experts has effectively advocated one share one vote across all types of risk bearing share capital. James Palmer of Herbert Smith explains why this will cause more harm than good to the European capital markets
  • Securitization specialists are carefully considering an announcement by Eurostat that it intends to change the way it looks at sovereign debt securitizations when drawing up country balance sheets.
  • The Japanese government is calling for new securitization laws that will encourage banks to offer cheaper mortgages to low earners. The Ministry of Land, Infrastructure and Transport has submitted a plan to the Diet to amend the Housing Loan Corporation Law, changing the Corporation's role to that of a clearing-house for residential property securitization.
  • Two years ago the Nordic region was riding high on the technology wave but the capital markets have crashed and the region’s tech-heavy stock exchanges have suffered more than most. By Stephen Hoare
  • Davis Polk and Hengeler advise banks on Rentenbank offering Davis Polk & Wardwell and Hengeler Mueller have advised Merrill Lynch, Pierce Fenner & Smith, BNP Paribas Securities and UBS as lead managers of a $1.25 billion offering of 4.875% notes by Landwirtschaftliche Rentenbank due 2007.
  • Investment banks are preparing for tighter regulation of the activities of analysts after financial watchdogs on both sides of the Atlantic moved to boost investors' confidence in the impartiality of banks' advice. Mounting concern in Europe and the US about researchers advising clients to buy stocks only because investment banking colleagues stand to win business from the companies in question has led regulators in Germany and France to issue new rules governing the conduct of stock-rating specialists.
  • Recent developments in the supervision of collective investment institutions By Peter R Leenders and Maarten E J Verrest of Steins Bisschop Meijburg & Co, Amsterdam