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Setting up a representative office is the first and indispensable step towards establishing a banking presence in China. Philip Gilligan and Steven Blayney of White & Case, Hong Kong, explain how

Measures introduced by securities regulators in Argentina will make it easier for foreign issuers to access the country’s emerging capital market. By Rodolfo Gerardo Papa of Cárdenas, Cassagne & Asociados, Buenos Aires

The new US tax regulations will have mixed effects for US companies engaged in project finance. Keith Martin of Chadbourne & Parke, Washington DC, looks at the good and the bad news

The success of the first Europe-wide electronic securities market owes much to the new possibilities afforded by EU investment services legislation. By Dirk Tirez, general counsel of Easdaq, Brussels

If credit derivatives are found to be contracts of insurance, in many jurisdictions they will face strict regulation. David Benton, Patrick Devine and Philip Jarvis of Allen & Overy, London, explain how this interpretation can be avoided

In September, the Singapore government issued a statement on the appointment of a committee to review Singapore's strategic legal needs in the financial sector and the conditions under which foreign law firms and foreign lawyers are permitted to operate in Singapore in the context of ensuring Singapore's competitiveness in financial services. The committee is headed by the Attorney-General and consists of a judge, a government official, senior partners of local and foreign law firms and senior officials of local and foreign banks operating in Singapore.

The briefing entitled 'Full disclosure rules issued' in the September 1997 issue of International Financial Law Review misstated the definition of public companies in the new Full Disclosure Rules. The following is the correct definition.

The privatization committee established in January 1996 has been made into a permanent committee and renamed the Privatization Committee for the Water and Electricity Sectors (PCWES). The PCWES is given a general supervisory and planning role in respect of the proposed utility privatization programme for the Emirate of Abu Dhabi. This role includes the proposal of legislation and regulations for the privatization programme, as well as proposals for the reorganization of government departments and projects in the power and water sectors. The powers of the PCWES include the authority to retain staff, to appoint outside consultants, and to delegate to one or more members of the PCWES the powers necessary to implement the purposes of the PCWES. The PCWES is directed to prepare budgets for its activities and to submit them to the Crown Prince for approval.

In the first of a series of articles drawn from the 1998 edition of the International Financial Law Review 1000 Directory, Paul Lee examines the IFLRev50, the world largest law firms, and their international strategies

Hanover Re, the German reinsurance company, has bought the international reinsurance operations of Skandia, the Swedish insurance and financial services group. The US$490 million deal will be effective from January 1 1998.