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"A cocktail of Kafkaesque inefficiency"

Lovells is to strengthen its capability in Tokyo, with plans to focus on expanding its mergers and acquisitions (M&A) and securitization teams by adding lawyers from its London office and by looking to bring in new hires. Lovells has kick-started its plans to grow in Japan by relocating new partner Tim Lester, a securitization specialist, from London to Tokyo. Lester, who is one of 24 partners who were made up by Lovells on May 1, moved to Tokyo to join Rupert Lewi (corporate finance) and Michael Hancock (structured and project finance), the firm's two locally-based partners.

Howard Davies Howard Davies, chairman of the UK's Financial Services Authority (FSA), warned in April that his fellow European regulators must take action if European banks are to benefit from the new Basle Capital Accord in 2004. Speaking at a conference on the accord in London, Davies urged Europe to make faster progress towards implementing the necessary legislation if it is to be able to start using the accord at the same time as the US and other non-Europeans.

Financial institutions have called on the Securities and Exchange Commission (SEC) to clarify its new disclosure rule.

A year ago Nordic law firms were reaping the benefits of booming capital markets work for high-tech companies. The collapse in equity values may have frozen the flow of deals but, as Thomas Williams reports, lawyers are finding they can help clients in bad times as well as good

News round-up Bech-Bruun Dragsted

Under Turkish competition law, the relevant legislation governing mergers and acquisitions is Law No. 4054 and the Communiqué on the Mergers and Acquisitions Requiring the Permission of the Competition Board (Communiqué). Under the Communiqué, a merger or an acquisition will be subject to the permission of the Turkish Competition Board if it exceeds the market share and turnover thresholds determined by the provisions of the Communiqué.

The Athens Stock Exchange launched a new market for high-tech, high-growth companies in April, looking to capitalize on the same opportunities as exchanges like the Neuer Markt. Yannis Avgerinos, of the British Institute of International & Comparative Law, looks at the rules for companies listing on the new exchange

The Financial Services Authority (FSA) is pioneering financial regulation in the UK by becoming its sole governing power, and is closely linked to the debate over European regulation. With the Authority fully assuming its powers in November this year, Sara Ver-Bruggen talks to Andrew Whittaker about the challenges it faces

Most of New Zealand's insider trading laws have been in force for over 10 years, although during that time no one has ever been found guilty of insider trading. In March 2001 the government announced changes to improve New Zealand's insider trading regime. This followed the release of a discussion document on the subject in September 2000, and the resulting submissions, on which the government has decided to act.