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  • By means of the Circular Letter No 10 of August 6 2001, the Superintendency of Industry and Trade (Colombian Competition Authority) stated new terms and conditions for the approval of integrations, mergers and acquisitions.
  • National Monetary Council Resolution No 2,878, recently issued by the Brazilian Central Bank, rules on relations between banks and their clients with regard to the services and products offered to the latter.
  • Under Italian legislation local authorities can determine the conditions and the structure of their debt and can operate according to discretionary powers, although this must be in compliance with the general conditions provided by law.
  • Since the beginning of 2001, the diverse nature of the structured finance transactions carried out both in and through Ireland has increased dramatically. Many of these transactions are notable for the cutting edge nature of the structures implemented.
  • On August 16 2001 the Finnish Financial Supervision Authority (FSA), the authority supervising the Finnish securities market, issued an official statement regarding the use of agents in offering banking and investment services. The FSA has reviewed its views on the outsourcing of certain operations of investment firms and credit institutions. This statement replaces a previous statement issued in February 1999.
  • Germany is to radically reform the regulation of its capital markets in a bid to restore investor confidence and make the country more competitive as a financial centre. Hans Eichel, the country's finance minister announced a series of measures last month to become law next year.
  • Despite the destruction of its office in downtown Manhattan, the Securities and Exchange Commission (SEC) has said that enforcement actions will not be abandoned.
  • The UK regulator, the Financial Services Authority (FSA), last month suspended rules that it believes are forcing the country's life insurance companies to sell equities in a falling market.
  • The City of London's financial institutions have been asked by the UK financial services regulator, the FSA, to see if they have worked on transactions for people linked to last month's attacks on New York and Washington, DC.
  • The new Spanish finance bill aims to provide a more comprehensive, simple regulatory framework offering greater investor protection. Fernando de las Cuevas and Valentina Rodríguez of Gomez-Acebo & Pombo, Madrid, examine the key issues