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A former chairman of Baker & McKenzie is betting on a new internet business that aims to change the way law firms pitch for business.

In the past, registered shares have only been issued by a very limited number of German stock corporations. Instead, the vast majority of listed companies in Germany used to issue bearer shares. It was only in 1998/99 that the issuance of registered shares began in earnest, when modern information technology enabled the central Germany clearing house, Clearstream Banking, to overcome difficulties in handling registered shares. Since then, a number of big DAX-listed corporations have changed from issuing bearer shares to registered shares. In doing so they intend to get a better picture of their shareholders, improve their investor relationships and obtain an acquisition currency for takeovers of US companies by directly listing the shares on US stock markets without having to implement an American depositary receipt program.

A significant reorganization of the regulatory provisions applicable to Italian investment firms (SIMs) is in the process of being implemented. Under a decree, dated August 4, issued by the governor of the Bank of Italy a unified text of rules has been approved to govern SIMs. The new regulation ties together EU and national regulatory provisions on investment firms, taking into consideration their most up-to-date operational requirements.

New foreign exchange regulations were recently introduced in Colombia and a regulation project intended to facilitate foreign investment in the country is pending.

Angela Clist, Allen & Overy

Bill Tudor John

Law firms in Germany are rubbing their hands at the prospect of the London and Frankfurt iX merger, and many have been limbering up over the last six months with a host of landmark deals. Rufus Jones reports from Frankfurt

Law firms in Germany are rubbing their hands at the prospect of the London and Frankfurt iX merger, and many have been limbering up over the last six months with a host of landmark deals. Rufus Jones reports from Frankfurt

John E Shockey of Milbank, Tweed, Hadley & McCloy LLP, New York and Washington, DC

By Tom Schubert and Gunnar Westerlund of Roschier-Holmberg & Waselius, Helsinki