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Last month commissioner Laura Unger announced plans to step down from the SEC. Her departure will leave a massive gap in an already under-staffed Commission, and not just in terms of numbers. Tom Nicholson meets the woman who led the SEC for most of a crucial year in its history, and discusses how she has fought Regulation FD, tried to narrow the digital divide and championed human rights through financial regulation

The nations of central Europe are queuing up to join the EU’s rich club. But in their haste they risk tripping over themselves and catching the west’s economic cold. Ben Maiden and Thomas Williams report from Prague, Warsaw and Budapest on how laws firms are coping

"The interests of the commercial community will be best served if banks are able to take and operate a fixed charge on the basis of Siebe Gorman"

Commissioner Laura Unger, who this October announced plans to leave the US Securities and Exchange Commission (SEC) by the end of 2001, says she is prepared to stay on until new commissioners are appointed.

Since gaining independence, Ukraine’s court system has struggled to modernize against the obstacles of old Soviet procedures and structures. Vladimir Zakhvataev of Salans Hertzfeld & Heilbronn, Kiev, explains the radical reforms introduced this summer

In the aftermath of the terrorist attacks in the US, "know your customer" has taken on greater importance for banks. On September 26 the Hong Kong Monetary Authority (HKMA) issued 2 circulars to banks on this topic in reaction to the US President's Executive Order of September 24 aimed at freezing the assets of named terrorist organizations and stopping financial support for terrorists. The circulars predate the Basle Committee's guidance on customer due diligence for banks of October 4. While acknowledging the Order's extra-territorial basis, the HKMA again stressed the importance of banks in Hong Kong cooperating in international efforts against terrorist activities and not becoming involved (even innocently or accidentally) in facilitating such activities.

The most recent developments at SAir Group and Switzerland's flag carrier SAirLines (Swissair) merit a short outline of the formal proceedings regarding moratorium and composition agreement under Swiss Debt Collection and Insolvency Law. The following three steps are to be distinguished:

Davis Polk puts JP Morgan loan in the picture

Russia has been riding a wave of economic progress as a new government, rising oil prices and legal reforms lead the way. But, as Thomas Williams reports from Moscow, there’s plenty to be done before everyone feels comfortable

Houston, Texas energy trading company Enron's $1.9 billion sale of utility Portland General Electric to Northwest Natural Gas this October provided a welcome slice of acquisition work for three firms.