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The Central Bank and Financial Services Authority of Ireland Bill 2002 was recently published by the Irish minister for finance. The purpose of the Bill is to provide the legislative framework for the Central Bank and Financial Services Authority of Ireland. The Central Bank will supervise all banks, building societies, insurance companies, credit unions and other investment business firms.

Japan is one of the most challenging markets for international firms. But the country is short of lawyers, and foreign firms believe soon they will provide the expertise demanded. Nick Ferguson reports

A ratings agency report says synthetic aircraft financings will boom because they solve a raft of legal difficulties. There are likely to be several high profile synthetic aircraft transactions over the coming months as banks start to exploit their portfolios of aviation interests.

The EU is preparing to radically overhaul disclosure rules for publicly-traded companies, making them responsible for disclosing information to the markets more often and more comprehensively than ever before. The European Commission is behind the proposals, announcing plans to introduce disclosure requirements that become increasingly stringent depending on the size of a business.

Brazil has introduced guidelines allowing domestic banks and financial companies to access the market for credit derivatives. Walter Douglas Stuber and Adriana Gödel Stuber of Amaro, Stuber e Advogados, São Paulo, explain

A recent decision of the Tax Court in Manrell questions the practice in Canada of structuring non-competition payments to obtain tax-free treatment to a vendor.

Law Decree No 63 of April 15 2002 sets new provisions in connection with the financing of public works.

The Helsinki Exchanges are to introduce amendments to the Rules of the Stock Exchange regarding the listing process, conditions for admission to listing and disclosure requirements.

Mexico’s legislators have been busy — protecting minority shareholders, revamping the insolvency regime and overhauling securities laws. Ben Maiden reports

In the UK, Weil Gotshal & Manges closed a second football club securitization for client Bear Stearns with DLA advising Manchester United on a £30 million ($44 million) ticket receivables deal. Weil Gotshal and DLA also worked opposite each other in the same roles for Everton FC's securitization. Weil Gotshal advised Barclays Capital as lead manager on the £357 million securitization of credit card receivables by Capital One Bank. Clifford Chance advised Capital One Bank which is using the master trust structure.