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  • Right to receive customer deposits to be extended In September 1999, Finland's Ministry of Finance appointed a working group to assess, among other things, the need to amend the legislation concerning the right to receive customer deposits. The working group presented its preliminary findings in an interim report published in April 2000.
  • New legislation on international wire transfers By Act of January 9 2000, published on February 9 2000 and effective as from that date, Belgium implemented European directive no. 97/5/EC of January 27 1997 on international wire transfers.
  • IFLR presents a condensed version of the ABA committee’s letter to the SEC, in which it presents its concerns over Regulation FD and suggests an alternative approach to rule making
  • The Japanese Securities and Exchange Surveillance Commission (SESC) revealed in May that Deutsche Bank had made illegal transactions through its Tokyo securities unit. The unit could face temporary suspension from trading bonds and bond futures.
  • A number of UK firms have gained the mandate to work on German travel company Preussag's recommended bid for Thomson Travel Group. The bid values Thomson at £1.8 billion ($2.7 billion) and was announced in mid-May.
  • It is expected that UK firms will win most, if not all, of the five Singapore joint-venture licences on offer. The successful candidates will be announced on July 30.
  • The London Stock Exchange (LSE) and Deutsche Börse have announced plans for a merger that would create the world's second largest stock exchange, behind New York. The new company would be called iX. In addition Nasdaq and iX have signed a memorandum of understanding to create a European high growth market.
  • Singapore's Cycle and Carriage (C&C), which last month led a consortium to buy a $506 million stake in Indonesia's leading car-maker Astra, is now in talks to buy an additional 3.9% stake - 103 million shares - from its fellow consortium member, Lazard Fund Asia.
  • Deacons and Graham & James have called an end to their 10-year association. As of July 1 Deacons Graham & James will cease to exist. They are parting company after coming to a "crossroad in [their] respective strategies", said Mark Roberts, Deacons' managing partner, in a statement to the press.
  • Garrigues & Andersen has emerged as the firm with the highest revenues in Spain for the second year in succession, according to a report in Spanish newspaper Expansión. The result underlines Garrigues' position as the flagship of the Andersen Legal network and will fuel the intense debate over the future for multi-disciplinary practices (MDPs).