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Tadashi Sato In July 2010, the Japan Federation of Bar Associations (JFBA) formulated and published its Guideline for Independent Committees relating to Company Scandals. It was partly amended in December 2010. The Guideline can be found online (in Japanese only) at www.nichibenren.or.jp/library/ja/opinion/report/data/100715_2.pdf.

‘Europe and the Americas’ leading female lawyers were celebrated at last month’s Women in Business Law awards in London and New York. The winners and highlights are here.

Tomasz Konopka Borys D Sawicki Corruption has existed in every society. As historical evidence and much research shows, while it is difficult to eliminate it completely, no efforts should be spared to minimise its scale and effects. This is because corruption undercuts the macroeconomic, equity and institutional functions of a government, as well as its efficiency. The reputation of a corrupted country serves as a deterrent to foreign investment – there is much evidence that countries with a higher incidence of corruption also have lower investment and economic growth rates. Therefore, it is important for any country in need of foreign investment and fast development, such as Poland, to successfully eradicate corruption. Over the last 10 years, the Polish Criminal Code has undergone a number of changes designed to improving the legal armoury for fighting of corruption. In part, the changes resulted from the efforts of the Polish government and parliament to make Poland into a clean-hands country; other changes were imposed by the European Union in connection with Poland's joining of the organisation in 2004.

Daniel Futej Rudolf Sivak Radka Gerzova Recently, two amendments were passed introducing novelties into the public procurement process in Slovakia. The changes do not enter into force at once, but will take effect gradually up to January 1 2014; however, most of the changes will already be effective as of July 1 2013. A new obligation to use an electronic auction by respective authority will apply only to goods which are readily available on the market. As regards other goods, services and construction works, it will be up to the authority whether it will use an electronic auction. It is not clear what criteria should be used when the authority is deciding whether or not it will use an electronic auction.

After five years of severe recession and price adjustments to real-estate assets in Spain, there is finally light at the end of the tunnel. This good news in the Spanish real estate market is largely due to key structural modifications that should help the cycle change and increase the appetite of international investors.

Focus Media’s debt financing package serves as a precedent for acquisition financing in the region, just as the market gathers steam. Here’s why

With growth across the continent at a standstill, the market’s focus is on developing non-bank alternatives to channel funds to where they’re needed most

China’s courtship of Latin America has gathered pace. And the best is yet to come

Are investor protections in European high-yield notes being eroded?

For the last 12 months, Asian market participants have voiced their opinions – mostly negative – about the cross-border reach of the US Commodity and Futures Trading Commission's (CFTC) plan to regulate the over-the-counter (OTC) derivatives market. Now, however, the extraterritorial provisions of the European Market Infrastructure Regulation (Emir) suddenly seem much more threatening.