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20 Int'l Fin. L. Rev. 1 (2001)

handle is hein.journals/intfinr20 and id is 1 raw text is: IFLR
INTERNATIONAL FINANCIAL LAW REVIEW

January2001 Vol XX 1
In this issue

Howto meetthe challenge of an internet offering
Offering securities via the internet raises a host of issues that companies, lawyers and
regulators are only starting to come to terms with. Differing national requirements for
disclosure and the reactions of different securities exchanges and clearing systems pose
serious questions. This month, in the first of a two-part series, IFLRbrings together six
leading securities lawyers in a roundtable discussion to explore some of the challenges a
companyfaces when floating in the brave new world of the internet
* France, Germany fight back with IPO reform
* Takeover directive totters at final hurdle
* Lee Suet Fern starts afresh
* Lovells takes Dutch courage from Ekelmans merger
* Lawyer takes top billing at Reuters
• Deutsche Bbrse to float
• White & Case completes record Croatian loan
• Milbank closes largest ever Brazilian project
Europe
In-house interview: Dirk Tirez, Easdaq                                              11
When Easdaq was formed in 1996, it was the first pan-European exchange formed to serve a new
breed of investor. This month Rufus Jones talks to Dirk Tirez, general counsel for the exchange,
about Easdaq's pioneering step, his use of law firms and his views on a single European stock market
Setting up a joint venture in Germany                                               13
Benedikt Burger of H6lters & Elsing, Frankfurt, examines the legal framework governing the
increasingly popular practice of establishing joint ventures in Germany
Ameris
Argentina reveals new leasing law                                                   17
Argentina has introduced a new law which sweeps away many of the restrictions on leasing activities
in the country. Javier Errecondo of Bruchou, Fernandez Madero, Lombardo & Mitrani, Buenos Aires,
looks at the new regulations and how they will liberalize the market
Asia-Pacific
China prepares for WTO by opening insurance sector                                  26
14 years of negotiations have brought China to the brink of accession to the World Trade
Organization. In doing so it has promised to lift many, but not all, of its barriers to foreign investment
in the insurance industry. Andrew Ning and Andreas Lauffs of Baker & McKenzie, Hong Kong,
examine the scope of China's concessions
China's telecoms industry paves the way to WTO                                      31
In another step towards WTO accession, China is engaging in its first comprehensive attempt to regu-
late its telecommunications industry. Chlorophyll Yip and Xiangmin Xu of Clifford Chance, Hong
Kong, explore the new framework for interconnection, operational licensing and setting standards for
telecoms services
Australian electricity privatization sparks capital markets interest                37
ETSA Utilities, the recently privatized entity that bought South Australia's electricity network, has led
the way in Australia in the use of the public debt markets to secure non-recourse financing. David
Olsson of Malleson Stephen Jacques discusses the challenges in financing long-term infrastructure leases
in the capital markets
Market focus: Australia and New Zealand
Antipodean firms look for way out of isolation                                      41
Australia and New Zealand may not be as isolated as they were in the past, but their lawyers are still
struggling to stay in the race for globalization. Nick Ferguson reports from Sydney and Auckland

Belgium
New type of authorization for invest-
ment firms
Italy
Bank loans deemed void for usurious
interest
The Netherlands
Euronext Amsterdam announces tougher
rules for IPOs
Poland
Foreign investments in Poland
Switzerland
Partial elimination of stamp duty on
securities lending
United Kingdom
NASD, NYSE and SEC to adopt new
disclosure rules
Brazil
Foreign capital in the Brazilian financial
system
Columbia
Another tax reform in the pipeline
Japan
Central department reform and non-
action letter by FSA
New Zealand
Kiwi Bank: the people's bank
Thailand
Bank of Thailand's rules on the use of
the internet
Canada
Increasing use of plans of arrangement

January 2001 I International Financial Law Review 1

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