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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 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.

Shortly after the terrorist attacks on the US, the chairman of the New York Stock Exchange, Richard Grasso, and the top US financial regulator, Harvey Pitt, came together to reassure the world's markets. The united display was intended as a signal that Washington would work with Wall Street to get the financial industry back on its feet as soon as possible.

As its work restructuring the Indonesian banking industry hangs in the balance, the last thing Ibra needed was to be abandoned by its legal advisers. Nick Ferguson reports

Despite China having acceded to the New York Convention almost 15 years ago, upholding an award under the Convention is still full of uncertainty. Mark Lin, a consultant to Lovells, Hong Kong, explains how best to secure enforcement

Competition among Hong Kong’s smaller banks and a relaxed regulatory environment mean that buying a bank in the region has never been as easy or attractive. Matthew Barnard and Paul Sroka of Allen Arthur Robinson explain the rules every prospective foreign buyer should know

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

The continuing collapse in share prices is making it increasingly hard for companies to raise cash. In August, IFLR showed how securitization could help telcos. This month, Christian Parker and Martin Dunton of Norton Rose explain the role convertible and exchangeable bonds can play

Over the summer, the Czech and Slovak republics both passed new laws on competition. As they and other countries line up for prospective EU membership, Michal Dlouhy and Martin Podolan of White & Case, Feddersen, Prague, assess the legislation

The Finance Act 2001 has, effective from assessment year 2002 to 2003, introduced specific transfer pricing regulations under the Income Tax Act 1961 (IT Act) for computing income and costs or expenses allocated or apportioned under an international transaction with an associated enterprise on an arm's length basis. Arm's length basis operates on the hypothesis that associated enterprises are independent of each other in their commercial and financial dealings. The basis for determination of whether an entity is an associated enterprise includes participation, whether directly or indirectly, by an enterprise in the capital, control or management of another enterprise. Where an enterprise is in a position to influence, restrain or regulate the other, the two entities are considered associated enterprises. An international transaction is defined as a transaction between two or more associated enterprises, either or both of them non-residents, involving a purchase, sale, lease, provision of services, lending, borrowing or any transaction having a bearing on profits, income, loss or assets of such enterprises.