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Under new guidelines issued by the Central Bank of Cyprus, the requirements for the acquisition of shares and/or share options and/or rights issues of banking institutions listed on the Cyprus Stock Exchange are as follows:

The National Securities Commission (Comisión Nacional de Valores or CNV) has enacted its General Resolution No. 288, which aims to prevent money-laundering. The Resolution sets out general rules associated with the information to be provided by the following entities:

In contrast with Paul Hastings and Cadwalader, Washington's McKenna & Cuneo opened a small London office in March and has yet to announce its presence. The firm is trying to keep the office quiet. Office head Patrick Doyle says: "We have good relationships with many UK firms. We don't want to create the impression that coming to London would disrupt our relationships with London firms." Doyle says that he and his colleague Saleem Malik aim to "keep our heads down – we might announce something in a year or so". The firm will wait until US lawyers have come to London to reassure UK firms as to McKenna & Cuneo's intentions before making an announcement.

The Third Annual In-House Counsel Event

The company law reform package which came into force on July 1 1994 introduced a substantially simpler amalgamation procedure into New Zealand law. This has resulted in an increased number of corporate restructurings. The statutory procedure enables one or more companies to be absorbed into another existing company, or two or more companies to be joined so as to form a new company.

Big six accounting firm Price Waterhouse launched a Russian law firm in early June. The firm, called, snappily, Price Waterhouse Commonwealth of Independent States (CIS) Law Offices, will be primarily staffed by Russians and in due course managed by Russian lawyer partners. "This is a natural extension of Price Waterhouse's presence in the Russian market," says Emory Kesteloot, the tax and legal partner responsible for coordinating the creation of the law firm. "We expect to be among the top Russian law firms. To this end we have appointed two of the most experienced Western legal specialists to lead and develop the practice as resident partners in Moscow." The two are: Professor WE Butler and Maryann Gashi-Butler.

Half of Denmark’s traditionally small, family-based firms are set to disappear, according to a recent report. Clare Hepburn looks at how lawyers there are meeting the challenges of liberalization

A report on company law commissioned by the Hong Kong government calls for radical streamlining and a move away from British legislative models. By Cally Jordan of Stikeman, Elliott, Hong Kong

The commission considering financial regulation in Australia has recommended a new format for regulation, aimed at boosting financial services competition. By Don Harding of Freehill Hollingdale & Page, Sydney

The first measure in the long-awaited liberalization of Japanese financial markets has been passed. Naoaki Eguchi, Yasushi Murofushi and Jeremy Pitts, of Tokyo Aoyama Law Office – Baker & McKenzie, Tokyo look at the new foreign exchange regime