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  • Brazil commits to lifting exchange controls
  • UBS, the Swiss financial group and world's largest private bank, is buying PaineWebber, the fourth largest private client bank in the US, for $10.8 billion. The deal gives UBS access to PaineWebber's $475 billion worth of client assets.
  • They say you can have too much of a good thing, but you won't find the law firms that have become part of Deutsche Telekom's gang of advisers complaining. With three multi-billion dollar flotations behind them and a world-beating bond issue just completed, you can bet they are very happy indeed. And there is more to come.
  • Robert McDowell and Robert Elliott of Fasken Martineau DuMoulin, Toronto, explain the highlights of Canada's new financial legislation. Part one of a two part series looks at the new rules for ownership of banks and insurance companies
  • New rules for reverse convertible or exchangeable notes
  • Debevoise & Plimpton is the latest US firm to gain at the expense of the SEC. Kenneth Berman, associate director of the SEC's Investment Management division, will join Debevoise's Washington practice as partner in August after 12 years with the commission.
  • US lawyers have voted overwhelmingly against plans to allow lawyers to join forces with other professionals, striking a blow against the ambitions of accountancy firms as they try to build global legal networks
  • Judith Lawless of McCann FitzGerald, Dublin, looks at the new rules governing netting and credit derivatives in Ireland
  • By Nicolas Piérard and Michel Barbey of Borel & Barbey
  • By Jürg Borer (Competition) and Jakob Höhn (Mergers & Acquisitions) of Pestalozzi Gmuer & Patry