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UK firm Allen & Overy has announced the appointment of US lawyer David Slade as partner in its New York office. In a move designed to give the firm a dual US and UK capability in project finance work, Slade will be joined by dual-qualified partner Carl Sheldon who moves from the Frankfurt office.

US firm White & Case has named Raj Pande, head of the firm's India Practice Group, partner. Pande will continue to be based in the firm's Singapore office. The firm has also made two lateral hires. Weerawong Chittmittrapap, a Thai securities and corporate lawyer, joins the Bangkok office as partner. He moves from his position as partner at Baker & McKenzie.

John A Kehoe and J Alan Bannister of Clifford Chance, London and New York, offer a guide to the procedures for obtaining secondary listings on the main world markets

The Commission published a preliminary draft Notice on September 10 on cooperation between national competition authorities and the Commission in cases falling within Articles 85 and 86 of the EU Treaty.

In June 1996, the Securities Committee of China's State Council issued a notice on the recommendation of the fourth batch of mainland enterprises for overseas listings. What is new is the degree of participation it allows foreign investment bankers in selecting prospective listing candidates. The submission of an analytical report prepared by the underwriter on the reorganization and listing prospects of the recommended enterprise is now required. Thus foreign investment bankers will be involved in the early stages of the screening process.

Chinese incorporated companies began listing their shares (H-shares) on the Stock Exchange of Hong Kong (SEHK) in 1993. Some H-share companies failed adequately to comply with SEHK disclosure requirements. Stricter compliance was necessary. In 1995 a combination of stricter enforcement by the SEHK and better understanding of the requirements by H-share companies resulted in substantial improvement. To ensure continued compliance with disclosure requirements, the SEHK issued extra recommendations, which should be observed in addition to the uniform disclosure requirements for all SEHK-listed companies.

Swiss Re has agreed to purchase the Mercantile & General reisurance arm of the UK's Prudential Corporation for £1.75 billion. Swiss Re's bid has been accepted subject to regulatory approval.

The decision in Octagon Gas Systems Inc v Rimmer, 995 F2d 948 (10th Cir 1993), cert denied, 114 S Ct 554, 126 L Ed 2d 455 (1993), complicates securitization transactions in US Tenth Circuit states Colorado, Kansas, New Mexico, Utah and Wyoming. This article examines how ABN AMRO overcame Octagon and completed a transaction for a Tenth Circuit company.

New York-based LeBouef, Lamb, Greene & MacRae has appointed Jude Kearney a partner in the firm's Washington DC office. Kearney was formerly deputy assistant secretary for Service Industries and Finance at the US Department of Commerce. He specializes in international trade and project finance matters and works extensively with the insurance industry on issues of its access to, licensing by and investment in foreign markets.

The Finance Ministry has recently revised its policy relating to the issue of Foreign Currency Convertible Bonds (FCCBs) and ordinary shares (through the Depositary Receipt mechanism). It has substantially relaxed its policy on Euro-issues including clearance to non-bank finance companies to access the European market. Under the revised guidelines, non-bank financial companies registered with the Reserve Bank of India have been permitted to float Euro-issues. The new guidelines are expected to promote greater flexibility.