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The US's principal federal anti-discrimination law – Title VII of the Civil Rights Act of 1964 – has a long extraterritorial reach. Not only does it apply to employees of US and foreign employers working within the US, but it also covers US employees working abroad if the company for whom they work is controlled by a US entity. However, Title VII does not apply to foreign nationals working outside the US.

After the 1992 enactment of the regulatory scheme for the securitization of mortgage assets, the government prepared a draft Royal Decree to regulate securitization funds for non-mortgage assets. Approval of this Royal Decree is expected in the next few months.

The Act on real estate funds has been ratified to enter into force on March 1 1998. The Act provides a more secure and regulated means for the public to invest in real estate.

A rule of the Copenhagen Stock Exchange (CSE) required any shareholder who attained legal or de facto control over a listed company to offer to buy the other shareholders' shares on the same conditions that the controlling shareholder bought the shares to gain control of the company. The initial proposal for the Securities Trading Act (STA) also contained this rule, but when it was adopted by Parliament in 1995, the control necessary to trigger the requirement to make a purchase offer to other shareholders was limited to control obtained through a majority of votes in the company.

US firm Orrick, Herrington & Sutcliffe has poached structured finance specialist Christopher Lewis from the Hong Kong office of UK firm Simmons & Simmons.The appointment confirms the IFLRev report in the December 1997 issue, where the firm also stated its intention to build an English capability in London. Lewis will be based in Tokyo where Orrick opened an office in 1997. Lewis' loss will be a blow to Simmons & Simmons in a field where specialists are few and the pool of firms with the experience to document new investment banking products is limited. The techniques of structured finance and asset repackaging may be one of the few funding options open in the region. "Although the current financial problems in Japan and Asia are well documented, likely solutions include acceleration of the deregulation process and the development of new financing techniques," says Lewis.

UK firm Freshfields and German firm Deringer Tessin Herrmann & Sedemund have formed an alliance which is expected to lead to a cross-border merger in around two year's time. The alliance was announced on January 26 1998 and the full merger is proposed for late 1999. The first phase of the alliance will begin in May, with the merger of the firms' operations in Germany. Freshfields' only office in Germany is Frankfurt. The Brussels and Moscow offices of each firm will also combine and operate as joint offices. These were the two cities outside Germany where Deringer had offices, in addition to its four German offices.

The UK's system of distinguishing levels of barristers should be disbanded, according to a report published by free market think-tank, the Adam Smith Institute. Its author, Peter Reeves, criticizes the system of Queen's Counsels (QCs or silks) as being costly and misleading. The radical proposal follows recent criticism made by the Lord Chancellor, Lord Irvine, about top commercial barristers charging excessive fees.

The Netherlands has produced plans for a special court to rule on disputes over corporate control. This marks the first step to dismantling anti-takeover devices. By Christian Huiskes of Derks.Star Busmann.Hanotiau, Utrecht

A common belief is that privatization is nearing an end in Poland as the market matures. Stephen Mulrenan discovers that opportunities still exist in this sector, as well as now in many others

For the second time, the Swedish Bar Association has forced Wahlin Adokatbyra to dismantle its links with big six firm KPMG. Wahlin, a firm created in 1997 as an associate law firm of the professional services giant, must abandon the cooperation agreements between the two firms or face being disbarred with immediate effect. Name partner Tryggve Wahlin says: "The Bar came to the conclusion that these agreements were not consistent with the independence of the professional lawyers in Sweden. I can accept that reason because I think that is important too, but I don't think our agreements were in conflict with it."