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  • Denmark
    In 1994, the Danish Consumer Ombudsman, after consultations with the Bankers' Association, issued ethical guidelines for financial institutions' advice to individual customers.
    August 31 1997
  • Argentina
    The Securities and Exchange Commission of Argentina (the CNV) enacted General Resolution No. 291/97. This authorizes the trading in Argentina of depositary receipts representing securities issued by foreign entities not qualified by the CNV to offer their securities directly to the general public in Argentina. The new regime — which comes into force on September 1 1997 — attempts to introduce new financial products in the local markets and to attract foreign investors.
    August 31 1997
  • Royal Caribbean Cruises buys Celebrity Cruise Lines
    Royal Caribbean Cruises has bought Celebrity Cruise Lines in an amicable takeover worth US$1.3 billion. This deal makes the company the second largest US- based cruise line.
    August 31 1997
  • Hong Kong SFC lays down specific compliance procedures
    New guidelines for market participants on management and internal control have been welcomed but the Securities and Futures Commission has also published suggested control techniques which have been less well received. By James Walker and Kenneth Leung of Clifford Chance, Hong Kong
    August 31 1997
  • US lawyer compensation outstrips inflation
    US partners' compensation increased by 3.56% in 1996, and associates compensation was boosted by 4.4%, in an economy where inflation was only 2.7%. These are the most striking results of the latest annual survey of law firm economics published by law firm consultants Altman Weil Pensa.
    August 31 1997
  • Colin Ng expands
    Mid-sized Singapore firm Colin Ng & Partners is adding to its international links. The firm already has a foreign office in Shanghai, and is soon to add offices in both Jakarta, Indonesia and one in Beijing.
    August 31 1997
  • Rocky road to a liberalized Japanese legal market
    The short-term prospects for foreign lawyers in the Japanese legal market are addressed in an official report due out this year. Rob Dwyer listens to both sides of an increasingly acrimonious debate about the place of international firms in a Japan undergoing its financial ‘big bang’
    August 31 1997
  • IP and IT: Changes to intellectual property and technology law
    Deeth Williams Wall, Toronto
    August 31 1997
  • Energy: Oil and gas exploration in Asia-Pacific
    Bennett Jones Verchere, Calgary
    August 31 1997
  • Commonwealth courts diverge on valuation losses
    A recent case reaffirms the Australian principle that lenders are entitled to calculate losses on a no-transaction basis after some negligent valuations, despite conflicting English decisions. By Francesca Rush of Corrs Chambers Westgarth, Brisbane
    August 31 1997
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