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National Monetary Council Resolution No 2,878, recently issued by the Brazilian Central Bank, rules on relations between banks and their clients with regard to the services and products offered to the latter.

The new regime under the Financial Services and Markets Act 2000 will come into force at midnight on November 30 2001 (N2). With this in mind, authorized firms and individuals will need to be familiar and prepare for the grandfathering and transitional provisions that will be effective as of that date.

Since the beginning of 2001, the diverse nature of the structured finance transactions carried out both in and through Ireland has increased dramatically. Many of these transactions are notable for the cutting edge nature of the structures implemented.

Bär & Karrer Seefeldstrasse 19

Switzerland’s independence and local laws have helped make it a major financial centre, but now it wants to be more like its EU neighbours. By wanting to have its cake and eat it, will Switzerland and its lawyers suffer a bad case of indigestion? Thomas Williams reports from Zurich

Under Italian legislation local authorities can determine the conditions and the structure of their debt and can operate according to discretionary powers, although this must be in compliance with the general conditions provided by law.

RWE chooses Cravath for $7.6 billion US deal

Linklaters advised Guoco Group on a general offer to repurchase 10% to 25% of its share capital by way of a modified Dutch auction. The deal was announced on September 10 and is scheduled for completion by the end of November. The value could be as much as HK$5.46 billion ($700 million). The deal is the largest general offer to repurchase shares (in terms of value) ever announced in Hong Kong. It followed the structure that Linklaters had earlier established for the HK$4.12 billion share repurchase by The Hong Kong and China Gas Company in June 2001.

At a time when the UK economy needs every trick in the book to stay healthy, a weakened securitization market would be a serious blow. In this month’s IFLR, Ian Field and Jennifer Marshall of Allen & Overy, London, argue that just such a blow could be about to land. The proposed UK law on insolvency will, they say, create confusion over the right of secured creditors in structured finance issues to appoint a receiver. Without this, such deals would become almost impossible

Baker Botts has advised Dominion on the $2.3 billion cash, stock and assumed debt acquisition of Louis Dreyfus Natural Gas.