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The Cayman Islands Monetary Authority (CIMA) recently issued new guidelines on the implementation of the Islands' money laundering legislation. The legislation is contained principally in the Misuse of Drugs Law (2000 Revision) and the Proceeds of Criminal Conduct Law (2001 Revision) (the PCCL). These statutes create a number of offences in relation to activities involved in laundering the proceeds of crime.

Baker & McKenzie seizes France Télécom lawyers for Paris office

Matthew Cahill, Paul Severs and Yasuhiro Akita of Clifford Chance Tanaka & Akita, Tokyo, examine how regulatory changes are opening the door to securitization in post-financial crisis Japan

Linklaters advises on BT rights issue

Lawyers warn that technology companies could face an avalanche of securities fraud litigation following the stock market slump

"It's like a kid in a candy store. They can't even decide what kind of chocolate to get"

Increase in market activity

Recent Japanese legislative changes relating to the establishment of holding companies and corporate splits will have important effects on convertible Eurobond documentation. Alan Davies and Surya Soni of Linklaters & Alliance, Tokyo, explain

Name change

On March 29 2001, the Swiss Federal Banking Commission (FBC) decided to establish specific minimum standards for the account opening and monitoring of exclusively internet-based banks and securities traders. These standards are intended to assure the quality of client identification and monitoring at internet-based banks until the revised provisions of the agreement on the Swiss Banks' Code of Conduct with regard to the exercise of due diligence (CDB 98) are presented. The specific minimal standards apply by way of a supplement to the already existing provisions concerning account opening and monitoring, which continue to be fully applicable.