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  • The merger of J&A Garrigues and Andersen ALT has accelerated the process of change in Spain. Defensive reactions have already begun and nothing will be the same again. Nick Ferguson reports
  • Fasken Martineau, London and Toronto
  • McDonald & Hayden, Toronto
  • Deeth Williams Wall, Toronto
  • Bennett Jones Verchere, Calgary
  • Until now, investments made by Spanish Collective Investment Institutions (IICs) in derivatives were regulated by the provisions of the Order of July 6 1992. This rule allowed such institutions to invest in derivatives traded on organized secondary markets both in Spain and in other countries.
  • In August a government committee published its report on the proposed reorganization of Finnish government financing institutions.
  • In 1994, the Danish Consumer Ombudsman, after consultations with the Bankers' Association, issued ethical guidelines for financial institutions' advice to individual customers.
  • The Securities and Exchange Commission of Argentina (the CNV) enacted General Resolution No. 291/97. This authorizes the trading in Argentina of depositary receipts representing securities issued by foreign entities not qualified by the CNV to offer their securities directly to the general public in Argentina. The new regime — which comes into force on September 1 1997 — attempts to introduce new financial products in the local markets and to attract foreign investors.
  • The modest Korean legal market looks unlikely to have to face competition from abroad just yet, despite the government’s public commitment to globalizing the economy. Nick Ferguson reports