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Korea introduces bank deposit insurance scheme

The Korean government has recognized that depositors’ interests must be safeguarded by the state. But improvements need to be made, argues Dong Won Ko of the Institute for Monetary & Economic Research, The Bank of Korea, Seoul

March 31 1997

Commission rethinks views on vertical restraints

The European Commission has published its deliberations on antitrust and distribution in Europe, giving an opportunity for debate on the framework for a new policy for the next century. By Ivo Van Bael of Van Bael & Bellis, Brussels

March 31 1997

French implement the ISD Directive

The recent law implementing EU financial services policy in France has introduced ‘regulated markets’, ‘market enterprises’ and other new concepts. By Antoine Maffei of De Pardieu Brocas Maffei & Associés, Paris

March 31 1997

Brazil

Privatization of mining group

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

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

Cyprus

Foreign investments

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

Partner Re wins SAFR

Bermuda-based, New York-quoted reinsurance company Partner Re is to take over French insurer Société Anonyme Française de Réassurance (SAFR). The acquisition was prompted by Swiss Re's Swfr1.1 billion (US$752 million) offer for the remaining shares of SAFR, of which it owns 21%. The outstanding shares belong to rival French insurers AGF and Athéna. Once Swiss Re has acquired these shares, it will sell SAFR to Partner Re.

March 31 1997

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