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European Union

A new EU regulation has been introduced with the stated objectives of improving the efficiency and effectiveness of insolvency proceedings with a cross-border element and avoiding the incentive for parties to transfer assets or proceedings within the EU in an attempt to forum-shop. The new regulation, Council Regulation (EC) No 1346/2000 on Insolvency Proceedings Within the EU (except Denmark), came into force on May 31 2002.

August 31 2002

Singapore to increase disclosure requirements for hedge funds

Singapore's financial market regulator is to increase disclosure levels for retail hedge funds, calling for clearer prospectuses explaining their risks and objectives. The Monetary Authority of Singapore is consulting on the regulations, which will make companies offering hedge funds to retail investors disclose in clear language the differences between hedge funds and traditional funds, the risks and the objectives of the investment.

August 31 2002

Mutual funds open investment window on Thailand

Foreign investors have a once-in-a-lifetime chance to invest in Thailand. Craig Alan Wilson of White & Case explains how to take it

August 31 2002

Deutsche Börse introduces Going Public Principles

Companies going public in Germany need to watch what they say in their offering documents. By Herbert Harrer and Ulli Janssen of Linklaters Oppenhoff & Rädler

August 31 2002

Colombia

The City Council of Bogotá has issued Act 65 of 2002 (Acuerdo 65 de 2002) by means of which it has passed an industry and commerce tax reform. The Act includes reforms related to taxpayers, taxable base, tax withholdings, and an increase in the applicable rates that had been proposed by the city mayor since last year. The most relevant aspects of the reform are outlined below.

August 31 2002

Canada

In Canada, mergers and acquisitions tend to be negotiated and friendly. One of the reasons for this is that many Canadian public and private corporations have one or more major shareholders whose support is essential for an acquisition to succeed.

August 31 2002

Saudi Arabia

Saudi Arabia's growing need for reliable sources of power and desalinated water has led the Kingdom to explore private investment in this sector, perhaps as early as October 2002.

August 31 2002

Turkey

The Turkish Parliament enacted Law No 4632 on Individual Private Pension and Investment Systems on April 7 2001, and this came into effect on October 8 2001, paving the way for the establishment and operation of pension companies and investment funds, individual private pension systems and individual private pension intermediaries.

August 31 2002

The failure of Singapore's joint venture compromise

Nick Ferguson reports on the strategies followed by international firms in Singapore since the country’s joint venture experiment hit trouble

August 31 2002

Canada

Proposed amendments to the Toronto Stock Exchange (TSX) corporate governance guidelines were recently published in response to the Saucier Report on corporate governance in Canada. Unlike the New York Stock Exchange (NYSE), the TSX does not have corporate governance listing standards. Instead, TSX companies are required to disclose their corporate governance system on an annual basis and, where the system differs from the TSX guidelines, to disclose the reasons for the difference.

July 31 2002

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