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The public offering of securities in the Czech Republic is regulated by Act No 591/1992 Coll on Securities (the Securities Act). The most recent amendments to the Securities Act include provisions intended to harmonize the legal framework for the regulation of the Czech capital market with EU law in anticipation of the accession of the Czech Republic into the EU in 2004.

For over a year, Mexican commercial banks have been quoting among themselves and keeping track of a daily 91-day inter-bank offering rate known as Mexibor. It was not until July 29 2002 that the Mexican regulators authorized the banking industry to use the Mexibor for their commercial banking transactions with customers. This is a major change in the money markets in Mexico. Historically, it was the Mexican central bank, Banco de Mexico, that was the only entity legally-authorized to establish all such reference rates for the banking industry. This amendment only allows the commercial banks to set this 91-day reference rate, and leaves with the central bank the authority to establish all other reference rates available in the industry.

Capital gains tax on the disposition of shares by individuals is undergoing major reform. Various special measures are being introduced with a view to revitalizing Japanese stock markets by giving special incentives to individual investors in their stock investments.

Without a forum for working out a country's financing difficulties, its lenders can find themselves in as much trouble as the creditor when trouble strikes. Mark Cymrot of Baker & Hostetler explains why bankers and borrowers alike should back insolvency rules for sovereigns

With terrorist funding on the agenda, should Switzerland abandon its commitment to financial privacy? Michael Evans reports

Ending months of speculation about a possible patent rights securitization in Japan, a private placement is in the pipeline to raise money from patents held on equipment used in voice synthesizing.

Morgan Stanley has completed a Japanese conduit commercial mortgage-backed securitization, giving Allen & Overy's Tokyo-based US law practice its first completed deal.

After aggressive European growth in 2002, Latham & Watkins is now focusing on its London capital markets practice with the hire of two senior lawyers and eight junior associates.

The SEC last month received support for its plans to tackle concerns over analysts when the Bond Market Association (TBMA) gave its backing to proposals covering fixed income research.

After months of corporate scandals over accounting irregularities, international and US standards-setters have begun a process to harmonize their rules and create a single global standard by 2005.