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The Hong Kong and English courts of appeal have been trying to disentangle their respective company laws to identity classes of creditors for schemes of arrangement. Joe Bannister of Lovells, Hong Kong looks at two recent judgments and asks if progress has been made

Although China has operated stock exchanges for a decade, it has never delisted a company. Now the Chinese regulator is tightening its rules to prevent unprofitable companies from continuing to have their shares traded. Liu Haili of Richards Butler, Hong Kong, explains

The Hart-Scott-Rodino Act has been the cornerstone of merger control in the US for 25 years. But revisions made to the Act this year will change the threshold at which mergers need to be reported in an attempt to bring more consolidations in the high-tech sector under the control of the federal authorities. James Lowe of Wilmer, Cutler & Pickering, Washington, DC examines the changes to the notification regime

Rafael Maradei of Barbosa, Müssnich & Aragão Advogados, São Paulo, reviews the Brazilian government’s new attempt to reform clearing and settlement systems

The EU Committee of Wise Men chaired by Alexandre Lamfalussy has issued its final report on the regulation of European securities markets.

Gilles Thieffry of Andersen Legal, London, looks at the controversial Lamfalussy Report and argues that more needs to be done to promote a pan-European securities regulator if the authorities are to keep up with market realities

Despite heavy criticism from various commercial associations, the Swiss government intends to go ahead with a revision of the Act on Cartels of October 6 1995. As the Swiss Federal Council declared on April 4 2001, the government is determined to win parliamentary support at least for the core issue of the revision, which involves the tightening of sanctions.

The Finnish Financial Supervision (FFS), the authority supervising the Finnish securities market, issued on March 29 2001 an official statement regarding the offering of financial services over information networks. The use of the internet and other network systems as a means of offering financial services has grown rapidly in the recent years. The purpose of the statement is both to promote the generally accepted banking and marketing principles and to improve the safety of using financial network services.

The Resolution of the Governor of the Bank of Italy dated November 28 2000 has introduced new provisions on the drafting of the fund rules of common investment funds, established in Italy pursuant to the European Communities Regulation 1989 (undertakings for collective investment in transferable securities – so-called harmonized funds).

Pursuant to the Royal Decree of December 5 2000, the Belgian Law on Commercial Practices and the Protection of Consumers (LCP) of July 14 1991 became, as from May 1 2001, applicable to almost all financial instruments and securities. The general purpose of the Royal Decree was: