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Recent developments in the legal field in Turkey include the following:

John Taylor, general counsel at the European Bank for Reconstruction and Development, London, talks to Diana Bentley

A statutory entity can only operate in accordance with its enabling statute. A considerable amount of activity in Ireland is carried on through statutory entities controlled by the state but operating in the commercial sector. From time to time legislative amendments are required to ensure that the borrowing powers and capital financing requirements of these entities keep pace with commercial developments. The latest piece of such legislation the Borrowing Powers of Certain Bodies Act, 1966 which came into force on August 1 1996. In particular it increased the borrowing limit of ACC Bank plc.

The Limited Liability Partnerships (Jersey) Law is expected to come into force in the spring of 1997. The UK government has announced its intention to introduce similar legislation in Britain, thus demonstrating that it recognizes the liability issues now facing professional services organizations, and lending its support to the proponents of such legislation. The deputy vice-president of the Law Society, Michael Matthews, has stated that there is no policy reason why solicitors should not take advantage of Jersey's proposed limited liability partnerships.

The Central Bank of Chile has for sometime imposed a requirement to deposit with it on a non-interest earning basis (or to pay as an alternative a fee) an amount equal to 30% of almost all equity investments made under Chapter XIV of the Compendium of Foreign Exchange Regulations and of loans registered under that Chapter and under Decree Law 600.

Resolution No. 58/3/96 of the Board of Directors of the Central Bank concerning the regulation of finance companies (Resolution 58) was promulgated under the authority set forth in Articles 114 to 119 of the Central Bank Law, which pertain to Financial Corporations (mu'assasat maliyyah). Article 114 of the Central Bank Law defines Financial Corporations as those institutions whose principal functions are to extend credit, to carry out financial transactions, to take part in the financing of existing or planned projects, to invest in movable property and such other functions as may be specified by the Central Bank. Financial Corporations may not accept funds in the form of deposits but may borrow from their head offices, from local and foreign banks, or from financial markets.

A recent bill published by the Brazilian authorities is set to make money-laundering in Latin America's largest country a specific criminal offence for the first time. By Bruno Balduccini of Pinheiro Neto Advogados, São Paulo

Switzerland has amended its rules to compete with the attractive Luxembourg regime. By Filippo Beck of Wenger Mathys Plattner, Zurich and Basle, with the assistance of Christina Amgwerd-Sheaff and Jlona Caduff

New York-based Chadbourne & Parke, a general practice firm with a strong energy and projects practice, has poached Ian Johnson from Ashurst Morris Crisp. Johnson, head of Ashurst's energy and major projects group, will be the first English solicitor to be a partner at Chadbourne. He starts at the firm on March 1 1997.

The Capital Markets Efficiency Act is a pale shadow of the originally proposed reforms to end the federal/state dual regulation of securities issues and cut litigation by large institutions. By David Bernstein of Rogers & Wells, New York