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  • Liberalization of the Uruguayan telecommunications marketEstudio Bernstein, Montevideo
  • New guidelines on the role of the servicer in securitizationsStudio Legale Beltramo, Rome
  • Regulation on warrants to be introducedRoschier-Holmberg & Waselius, Helsinki
  • In May, the Brazilian government notified the IMF of its commitment, under the Bretton Woods Agreement of 1944, to lift exchange control regulations and to refrain from imposing restrictions on the flow of capital. The commitment is yet to be implemented, but certain previous procedures are already being simplified:
  • Swiss regulator will not tolerate dummy transactionsWenger Vieli Belser
  • Public offerings in PortugalF Castelo Branco, P. Rebelo de Sousa & Associados, Lisbon
  • New resolution issued by Water Regulation CommissionGomez Pinzon & Associados, Bogota
  • Weil Gotshal & Manges is starting to rebuild its banking and finance practice in London. Ron Daitz, head of the firm's banking practice worldwide, is flying in from New York to provide direct leadership to the banking group. Daitz has advised on a range of debt restructurings, acquisition financings, project finacings and cross-border transactions. He has acted for clients such as Citigroup, GE Capital, Lehman Brothers and Chase Manhattan.
  • Lawyers and bankers have dusted off their old Tracker Fund documents and are re-using some of the same tricks to sell shares in Hong Kong's Mass Transit Railway (MTR) this month.
  • Turkey moves towards creating a derivatives marketHergüner Bilgen & Özeke, Istanbul