6. Give Russian equivalents for the following words and phrases

used in the text

emerging economies; foreign and domestic savings; productive assets; transitional economies; a research team; regulatory regimes; the new law's important provisions; commercial code of 1934; preferred shares; cross-dealings between firms; one-share-one-vote; full disclosure of corporate goings-on; a block of shareholders; a derivative market; index futures; financial practices

7. Translate the following sentences into Russian in writing

1. The numbers make it plain there is indeed a link, but did effective regulation promote financial development, or was it the other way round?

2. Countries with regulatory codes descended from English common law tend to have stronger investor protection than countries with civil-law traditions founded on Roman law; presumably, on the other hand, the extent of modern financial development cannot have affected the historical legal tradition.

3. The investigations shed an interesting light on recent changes in Eastern Europe's regulatory regimes.

4. Hungarian investor protection measures are not quite as generous as Poland's: a block of shareholders must command 10% of a company's votes to demand an audit or meeting, and those votes can be attached to shares in ratios as high as ten to one.

5. Even in Eastern Europe's most promising regulatory systems, enforcement remains a problem.

8. Summarise the text, using the words and phrases given below

to entrench the rights of minority shareholders; to require disclosure of corporate information; to promote financial development; to affect smth; to carry only one vote; to remain in force; to own small stakes; to siphon off the wealth of minority shareholders; to band together; to challenge a company's activity or accounts; to inch closer to the West European standard; to bridge the gap; to set the markets on the right course

9. Translate the following sentences into English

1. Сложившиеся в стране традиции в области законодательства определяют степень защиты инвестора в данной стране.

2. Одним из важнейших положений нового закона устанавливается принцип «одна акция - один голос».

3. На общем собрании акционеров любая группа держателей акций, которой принадлежит 5% компании, может потребовать независимой аудиторской проверки.

4. Последний председатель Комиссии по ценным бумагам и биржам США уверен в необходимости полной прозрачности деятельности компании с тем, чтобы инвесторы могли сами оценить ее перспективы.

5. Исследования, проведенные учеными Гарвардского университета, подтверждают, что права, которые инвесторы получили в результате принятия нового закона о компании, в значительной мере способствовали развитию рынка капитала в стране.

10. Supply details to prove the following:

Hungary and Poland, compared with others, bridged the gap with the West.

11. Work in several groups. Comment on the following statements:

1. If you want a big, smoothly functioning market for capital, you have to protect investors from mischief.

2. Legal protection of investors does not yet always mean effective protection of investors.