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Dozens of companies have taken advantage of temporary trading rules, introduced after the terrorist attacks on the US, to buy back their own shares.

Milbank, Tweed, Hadley & McCloy has named Anthony Root as managing partner of its Hong Kong office. Root succeeds Douglas Tanner, who has relocated to Palo Alto, California, to head Milbank's new Silicon Valley office.

The Brazilian senate has approved legislation to protect minority shareholders. The Corporations Law Reform Bill, which was passed on September 20, will also grant the country's securities and exchange commission, the CVM, increased independence from the government.

Mayer, Brown & Platt is set poach three partners from its German rivals, after taking its new banking and finance head from Clifford Chance Pünder.

On August 16 2001 the Finnish Financial Supervision Authority (FSA), the authority supervising the Finnish securities market, issued an official statement regarding the use of agents in offering banking and investment services. The FSA has reviewed its views on the outsourcing of certain operations of investment firms and credit institutions. This statement replaces a previous statement issued in February 1999.

The statute of August 10 2001 on modifications of the Belgian of workmen's compensation insurance system was published in the Belgian Official Gazette of September 7 2001 and entered into force on September 17.

Hendrick Haag, Hengeler Mueller partner and co-chair of Committee E (Banking Law), looks at the topics his panel will be covering at this month’s IBA conference in Cancun.

The biggest change to New Zealand's dairy industry nears completion with the imminent passing of the Dairy Industry Restructuring Bill which, by early October, ought to have had its final reading in the House. The Bill clears the final hurdle for the merger of New Zealand's two largest dairy companies and the integration of the statutory dairy marketing board into one new huge company, Fonterra Cooperative Group. Fonterra will account for 96% of New Zealand's dairy industry, nearly 25% of all New Zealand export earnings and 7% of gross domestic product, and be the world's largest exporter of dairy products.

The downward slide of technology stock prices worldwide continues to concern companies wishing to list shares on Hong Kong's Growth Enterprise Market (GEM). With a view to maintaining Hong Kong's prime competitive position, a joint announcement by the Securities and Futures Commission and the Stock Exchange of Hong Kong on proposed amendments to the GEM Listing Rules was issued on July 27 2001 with the following notable highlights:

On May 31 2001, China's MOFTEC promulgated the Supplemental Provisions (2) to the Establishment of Companies with an Investment Nature by Foreign Investors Tentative Provisions relaxing earlier restrictions on the activities of foreign investment companies (FICs).