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Jennifer Marshall of Allen & Overy explains what Europe's new rules mean for companies and investors

Significant legislation in Mexico sets out to protect the process of competition, through the prevention and elimination of monopolies and monopolistic practices and any other restraints of trade. It is applicable to all economic participants involved in the Mexican economy and commercial banks, financial institutions and foreign corporations should be aware that some commercial practices, formerly tolerated in Mexico, might now be illegal under these rules and regulations. The legislation was first enacted on December 24 1992 in the form of the Mexican Antitrust Act (Ley Federal de Competencia Económica, the MAA). Additional procedural regulations were published on March 1998, with the enactment of the Regulations to the Mexican Antitrust Act (Reglamento de la Ley de Competencia Económica, the RMAA).

When KPNQwest bought parts of troubled Global TeleSystems the companies agreed bankruptcy terms with creditors before the deal closed. Steven C Planchard of Cleary Gottlieb Steen & Hamilton explains how

On April 3 2002, it was announced that the government of the British Virgin Islands (BVI) has reached an agreement with the Organization of Economic Corporation and Development (OECD) concerning the OECD's initiative on Harmful Tax Competition and Tax Havens.

On March 15 2002, The Bahamas formally replied to the OECD Forum on harmful tax practices and issued a commitment to cooperate with the OECD in its harmful tax practices initiative. This initiative seeks transparency and exchange of information, on request, for tax purposes. The OECD proposes mechanisms and deadlines for achievement of these objectives, including a mechanism for the exchange of information relating to criminal tax offences by 2004, and civil tax defaults by 2006.

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.

As Europe expands into the emerging markets of eastern Europe, Spanish lawyers are looking to Madrid's lawmakers for a more competitive environment. By Thomas Williams

Taiwan's lawmakers are looking at proposals to allow the securitization of property, helping to increase activity in the real estate market.

Recent developments in the supervision of collective investment institutions By Peter R Leenders and Maarten E J Verrest of Steins Bisschop Meijburg & Co, Amsterdam

Bart P M Joosen (partner) is admitted to the Amsterdam Bar and has previously worked with Tilburg University as assistant professor corporate law, Philips Electronics as in-house counsel corporate legal department and in the Banking & Securities Law Groups of Wouters Advocaten, an associated law firm of Arthur Andersen and of Coopers and Lybrand, Legal Services. Bart Joosen has specific experience and expertise in regulatory matters for participants in the financial industry, particularly banks and insurance companies with a focus on funding of financial industry institutions capital adequacy and solvency ratio and risk management issues from a legal perspective. Furthermore Bart Joosen has built up experience and expertise in structured finance, securitisation and securities law matters. Bart Joosen frequently publishes on matters of banking and securities law and on international insolvency law. He joined Steins Bisschop Meijburg Advocaten en Notarissen & Co in 1998.