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  • The most important consideration for a laterally hired partner in choosing his or her new firm is not the level of compensation he or she will receive. Indeed, this consideration is placed fifth out of seven significant factors according to a survey by US lawyer search consultants Major, Hagen & Africa.
  • Franz Nauschnigg, capital markets adviser to the Austrian minister of finance, talks to Graham Field
  • In July, New York's Fried, Frank, Harris, Shriver & Jacobson and Simmons & Simmons of the UK created an International Securities Unit to handle both the English law and New York law aspects of securities issues. The unit, to be based in London, will be staffed by partners and other lawyers from both firms. It will handle the full range of both equity and bond issues in the US, UK and worldwide.
  • Millar Wyslobicky Kreklewetz, Toronto
  • Filion, Wakely & Thorup, Toronto
  • Cassels Brock & Blackwell, Toronto
  • The US Securities and Exchange Commission (SEC) has amended Rule 17f-5, relaxing the rules applying to US investment funds holding foreign assets outside the US. By Marcia MacHarg and Matthew Chambers of Debevoise & Plimpton, New York
  • Until now, investments made by Spanish Collective Investment Institutions (IICs) in derivatives were regulated by the provisions of the Order of July 6 1992. This rule allowed such institutions to invest in derivatives traded on organized secondary markets both in Spain and in other countries.
  • In August a government committee published its report on the proposed reorganization of Finnish government financing institutions.
  • International independent power producer Calenergy failed in its US$1.92 billion bid for regional electricity and gas supplier New York State Electric and Gas Corp.