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  • Switzerland
    In its February session, the Swiss Federal Banking Commission gave the green light for the first two foreign funds with special risks to be sold and marketed in Switzerland.
    March 31 1997
  • Sweden
    In the January 1997 briefing we noted that a parliamentary committee was expected to propose amendments to the Companies Act of1975, one of which would permit Swedish companies to repurchase their own shares. This proposal has now been published (SOU 1997: 22).
    March 31 1997
  • Finland
    The amendments to the Finnish Companies Act (see International Financial Law Review, August 1996, page 56) and certain related legislation were ratified in February 1997 and due to come into effect on September 1 1997.
    March 31 1997
  • Italy
    Treasury Ministry Decree No. 703 of November 21 1996 setting out the criteria to be followed by the management of pension funds with regard to investments and the limits on investments and derivatives transactions has been published in the Official Gazette and is now in force.
    March 31 1997
  • Denmark
    At the end of 1995 the Danish parliament decided that the rules on the rights and duties of of the management of financial institutions (insurance companies, banks, stockbroker firms, pension funds and so on) should be harmonized and, where appropriate, tightened. In February of this year, the Ministry of Economy, which now encompasses the Financial Supervisor, submitted its proposal on the matter to other ministries and interested bodies for comment.
    March 31 1997
  • Winning recognition
    Ken Mildwaters, group legal and trade marks director of Guinness PLC, talks to Diana Bentley
    March 31 1997
  • Cyprus
    Foreign investments
    March 31 1997
  • Singapore
    The Economic Expansion Incentives (relief from income tax) Act provides a range of income tax incentives to encourage investment and industry in Singapore, particularly in the engineering and technology sectors. Since the Act was passed in 1967, it has been amended from time to time to clarify and broaden the tax incentives available to various industries.
    March 31 1997
  • Czech Republic
    In response to the sluggishness of the Czech capital markets, the government has launched a series of legislative initiatives with the aim of creating a more stable and transparent environment for investors. Accordingly, the Czech capital markets have been undergoing major changes. However, whether the hoped-for results will materialize remains to be seen.
    March 31 1997
  • China
    The Provisional Regulations Banning Entrance into the Securities Industry were promulgated on March 3 1997. The Regulations outline various securities violations for professionals working in the securities industry, including the following:
    March 31 1997
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