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  • Pillsbury Madison & Sutro, a San Francisco firm, has lost its executive director, a substantial group of compensation and benefits lawyers, and has had to fire another nine partners.
  • A senior Chinese official has confirmed that the country’s expected future membership of the WTO will lead to a relaxation of restrictions on foreign law firms. In particular, the rule that firms may open only one office would be dropped, but joint ventures between local and foreign firms will not be permitted.
  • North America-Court of Appeal rules on dissenting shareholder rights on compulsory squeeze out – equal treatment prevails over equal opportunity
  • Latin America-Development plan approved by Congress
  • Europe-Increasing control on concentrations
  • Italy enacts new law on securitization
  • Europe-Finnish book-entry securities system to be revised
  • The Capital Markets: Irish and International Laws and Regulations By Agnes Foy (Round Hall Sweet & Maxwell, 1998) Reviewed By Mark Walsh, Partner, Brown & Wood, London and New York*
  • Europe-Polish Zloty (PLN) to be fully convertible by the year 2000
  • Europe-Securities guidelines on the use of analysts’ reports