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SEC report urges changes to fair disclosure rules

The US securities regulator must consider revising key parts of the year-old fair disclosure regime, according to one of its own most senior figures. A report on the impact of Regulation Fair Disclosure by Laura Unger, a commissioner at the Securities and Exchange Commission (SEC), is calling for further clarity on the controversial rule.

January 01 2002

Deutsche Bank questions Russia banking reforms

Deutsche Bank's Moscow head has cast doubt on legal and administrative moves to reform Russia's ailing banking system. Speaking at a conference on the Russian banking sector in London early last month, Hubert Panzda, the chief executive of the bank in Russia, questioned whether plans to make Russian banks more competitive and transparent could be carried out in an increasingly uncertain economic climate.

January 01 2002

Doubts over FSA influence on Takeover Panel

"The feeling is that the Takeover Panel has lost its edge and become a little limp" - Chris Bright, Shearman & Sterling The Financial Services Authority (FSA), has indicated that it will not use its sweeping new powers to interfere with the role of the UK's Panel on Takeover and Mergers.

January 01 2002

The future for foreign IPOs in China

The first IPO by a foreign company in China may be just around the corner. Stefanie Tetz, Amy Lo and Ralph Koppitz of Clifford Chance explain how closer cooperation between the regulators and increased clarity of the rules could open the door to a new equity market

January 01 2002

What WPP/Tempus means for Mac clauses in the US

The Takeover Panel’s ruling on WPP/Tempus may have been the death blow for material adverse change clauses in the UK, but what of the US? Richard Trobman and Nick Cline of Latham & Watkins, London, ask if the US authorities would have come to the same conclusion if they had been presented with WPP

January 01 2002

Why Australian law threatens airline financiers

The events of September 11 have shown how a law passed two years ago could expose the owners, operators and financiers of airlines flying in Australia to unlimited liability. Nicholas Creed and Justin Mereine of Mallesons Stephen Jaques explain the risks they face

January 01 2002

How securitization can help the developing world

Securitization is an important tool in helping financial systems and capital markets to evolve and expand, but so far the world’s richest nations have had a competitive advantage over their less developed neighbours. Lakshman Alles of Australia’s Curtin University discusses the challenges of bringing securitization to the developing world

January 01 2002

Limiting auditors' liability on insolvencies

Auditors are often made the scapegoat when companies go bust, and with little protection from the UK courts sometimes end up having to settle expensive claims. As Arrabella Giles of Clifford Chance, London, explains however, a recent decision in the Barings case will limit auditors’ liabilities

January 01 2002

In-house view: Dexia Group

Thomas Williams talks to Axel Miller, general counsel of Dexia Group, about life after Clifford Chance

January 01 2002

Thailand

The corporatization and privatization of state enterprises has been an objective of Thai government policy makers for several years. In December 1999, the Capital of State Enterprise Act (also know as the Corporatization Act) was published, providing the regulatory framework for the conversion of state enterprises to private or public limited companies, to be initially 100%-owned by the Ministry of Finance.

January 01 2002

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