Further to our update in August on the new Act aimed, among other things, at improving the enforceability of investor claims arising from misleading or incomplete investment advice, we set out below a little more detail on the contents of the Act and related liability issues arising in connection with it. Read more.

In the newly constituted German Federal Parliament, several verbal enquiries have been made regarding the current and future activities of the German export credit agency Euler Hermes Kreditversicherungs-AG (Hermes) in relation to export financings of nuclear technology equipment. Read more.

Click here for the full text of this month's Germany updates.

Minority shareholders of Japanese companies have become more active in requiring an appropriate price for their shares in the event of a "squeeze-out" on a management buy-out (MBO), and several courts, including the Supreme Court of Japan, have supported shareholders' action in such cases. Read more.

The Financial Services Agency of Japan has established a project team to research the state of money lending business in Japan and the participants in it, and compare the industry in Japan with that of foreign countries to determine the necessity for measures to ensure the smooth enactment of the amended Money Lending Business Law. The project team is expected to take a leading role in optimising the efficiency of money lending business in Japan and dealing with continuing concern regarding unlicensed moneylenders. Read more.

Click here for the full text of this month's Japan updates.

The President has signed a new law amending the Criminal Code and Article 151 of the Criminal Procedure Code. The new law aims to protect the rights of investors on the securities market. It introduces a number of new types of criminal offence and sets the penalties for their breach. Read more.

On 25 November 2009, The President signed two amending laws to extend until 31 December 2010 the Central Bank's powers to support the interbank market and to limit interest rates on deposits. Read more.

The refinancing rate has been changed once again by the Central Bank, this time going down from 9.5% to 9% per annum. Read more.

The State Duma has adopted, in the first reading, a draft law amending the Civil Code on prepayment of loans so as to allow individual borrowers to prepay loans without the need to obtain the lender's consent. Read more.

Click here for the full text of this month's Russian Federation updates.

PLC Global Finance has published a special update, covering recent developments in the Russian Federation, contributed by White & Case LLP.

This month's special update is on:

This, and other special updates, are available on the Russian Federation contents page, located on the PLC Global Finance home page.

In April 2009, the G20 called on the Financial Stability Forum (FSF) to be re-established as the Financial Stability Board (FSB), with a broadened mandate to promote financial stability. Following a recent speech by the FSB's chairman, this article considers the Board's role and its responsibilities. Read more.

On 10 November 2009, the Pensions Regulator published its annual analysis of recovery plans (plans drawn up by pension scheme trustees setting out how any funding deficit in a final salary scheme will be made up). This article summarises the key findings of the report. Read more.

Click here for the full text of this month's United Kingdom updates.

In October 2009, the Special Master for TARP Executive Compensation released seven Determination Memoranda addressing the limits on compensation payable to top executives at TARP entities that received "exceptional assistance". The Federal Reserve Board also released proposed guidance on incentive pay at the financial organisations that it regulates. This article examines what trends might be anticipated if, as suspected, the Special Master Rulings and Fed Guidance are indicative of the shape of the future compensation landscape. Read more.

The PLC Global Finance site contains lists by jurisdiction of law firm publications relevant to the financial sector that are updated weekly.

Click here to go to the full list of jurisdictions covered.