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Our recently published guide to coverage defences in Europe provides an overview of the key coverage defences under the law of England and Wales and the extent to which these defences are available to insurers in other European jurisdictions.

Since the last update, a number of tax regulations in China have been updated due to changes in government policy.

A number of tax regulations in China have been updated due to changes in government policy.

On 26 October 2010, Joaquín Almunia, the EU Competition Commissioner, made a statement on the results of the public consultation launched in June to assess the 2005 package on the application of EU state aid rules to the financing of Services of General Economic Interest (SGEI).

The European Commission has opened formal investigation of Poland’s proposal to grant €40.9 million in investment aid to Fiat Powertrain Technologies Poland.

In Russia, December was by far the most eventful month of 2011. United Russia's poor showing in the December 4th parliamentary elections and the street demonstrations that followed undoubtedly sent a jolt to the leadership.

From 1 October 2012, subsidiary companies will no longer need to have their annual accounts audited provided that, among other things, their parent company agrees to guarantee all liabilities of the subsidiary that are outstanding at the end of that financial year.

When China’s Ministry of Commerce ("MOFCOM") approved Pfizer’s $68 billion acquisition of rival pharmaceutical company Wyeth in last September, the Chinese anti-trust authority for the first time applied business divestiture as a structural remedy in its merger control review.

Forgery and impersonation have always been a threat to commerce and government.

On 25 July 2012, the FSA published Consultation Paper 12/15 which proposes a number of minor alterations to the Client Asset rules for oversight and reporting (CASS 1A).

The European Commission published on 20th October 2011 its legislative proposals relating to its review of both the Markets in Financial Instruments Directive (MiFID) and the Market Abuse Directive (MAD).

The School Food Trust – a registered charity and specialist advisor to the UK Government on school meals, children’s food and related skills – has published new guidelines relating to food and drink suitable for children under five years old. These guidelines are applicable on a nationwide and voluntary basis.

On 4 June the European Commission launched a public consultation on procedures for notifying and acting on illegal content hosted by online intermediaries.

The Committee of Advertising Practice has announced the publication of the final forms of the new CAP and BCAP Codes, following the conclusion of a lengthy public consultation to which 30,000 responses were received.

British citizens will not be forced to obtain identity cards until 2012, over two years later than originally planned, leaked Home Office documents have shown.

Unsecured creditors can no longer request payment from a merging/demerging company of sums that are not due and payable at the time of the merger/demerger.

On May 28, 2010, the People's Bank of China ("PBOC") and the China Banking Regulatory Commission ("CBRC") jointly issued a circular, titled Opinions on Providing Financial Services to Further Support Energy Saving and Emission Reduction and Closing-down of Backward Production Capacities (the "Circular").