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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

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.

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 UK's market regulator is to develop a disclosure regime for short selling and is considering ways in which to set up a cost-efficient framework to measure this controversial practice.

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.

More complex securitization structures have less chance of protecting investors from losses should the originator go bankrupt, a new survey reveals.

The US should not meddle in the organization of companies outside its jurisdicion, even if those companies access the US markets, says Ed Greene of Cleary Gottlieb Steen & Hamilton

The Ministry of Foreign Trade and Economic Cooperation (Moftec) has issued a notice which permits the establishment of joint venture logistics enterprises in certain pilot cities and provinces in China. The Notice on Issues Related to the Launch of Pilot Projects for the Establishment of Foreign-Invested Logistics Enterprises was issued on June 20 2002 and came into force 30 days later. It applies in Beijing, Tianjin, Shanghai, Chongqing, Zhejiang, Jiangsu, Guangdong and the Shenzhen Special Economic Zone.

The Federal Act on Money Laundering which came into force in 1998 places several obligations of due diligence (that is, identification of the contracting party, verification of beneficial owner, clarification of suspicious transactions and so on) on financial intermediaries. It applies to all financial intermediaries whether those already supervised by special legislation (such as the banking sector) or those in the non-banking sector, which were in 1998 not yet subject to any special supervision. In the non-banking sector the Act applies to all persons who, on a professional basis, accept, hold in deposit or assist in the investment or transfer of assets belonging to third parties.