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  • UK firm Osborne Clarke has added French firm Stehlin & Associés to its European alliance and has pledged increased cooperation with existing partners in Germany, Denmark, Holland and Spain.
  • During the economic crisis of 1997, Korea promised to open its legal market to international competition, but the extent of liberalization is still undecided. Koreans want little change, as slow as possible. US firms seem unconcerned. But UK firms have been lobbying hard for an open market. Rob Mannix reports
  • Korean securitization is enjoying a renaissance after the difficulties of the Asian financial crisis.
  • Cravath Swaine & Moore and Simpson Thacher & Bartlett are advising on the world's largest corporate deal.
  • January also saw the biggest ever all-UK corporate deal with the announcement that Glaxo Wellcome and SmithKline Beecham intend to merge.
  • For most of the past century the Glass Steagall Act artificially separated commercial and investment banking, and the Bank Holding Company Act provisions prohibited insurance underwriting.
  • The US financial services industry has opened to competition.
  • Lynn Bai of the Hong Kong Securities and Futures Commission outlines the new risk-based calculation method for brokers’ contributions to the stock clearing fund
  • US firm White & Case will open a new office in Bahrain later this quarter. Five lawyers will initially staff the office. Bahrain and Dubai qualified lawyer Qays Zuíbi has been recruited to lead the office along with White & Case partner Michael Quigley who is moving from the Paris office.
  • Freshfields advised on completed European deals worth more than any other law firm in 1999, knocking Sullivan & Cromwell off the top spot, according to a report by Thomson Financial Securities Data.