ESAs consultations: amendments to EMIR for securitisation issuers

In May 2018, the Joint Committee of the European Supervisory Authorities ("ESAs") launched two consultations (the "Consultations") to amend EMIR concerning (i) the clearing obligation and (ii) certain risk mitigation techniques for non-cleared OTC derivatives in respect of securitisation issuers.… Read more

Corporate Crime update – March 2018

Welcome to the March 2018 edition of our corporate crime update - our round up of developments in relation to corruption, money laundering, fraud, sanctions and related matters. Our update now covers a number of jurisdictions. For the full update on each jurisdiction,… Read more

#MAR_bitesize

New Market Abuse powers for the FCA (2) Powers to require information from issuers, PDMRs and persons closely associated to PDMRs The Financial Services and Markets Act 2000 (Market Abuse) Regulations 2016 (the "regulations") were passed to ensure that UK law… Read more

UK launches Financial Advice Market Review

On 3 August, the UK Government launched what it described as a major new review to examine how financial advice could work better for consumers.  The review will consider: the “advice gap” for those who do not have significant wealth; the regulatory or… Read more

Market abuse update – December 2014

The FCA has continued to build on the strong track record of civil and criminal enforcement action against abusive conduct and manipulation, notably in relation to insider dealing and benchmark manipulation.  The regulator remains committed to strong enforcement action and… Read more

Corporate Crime Update – September 2014

Welcome to the September 2014 edition of our corporate crime update - our round-up of developments in relation to corruption, money laundering, fraud, sanctions and related matters.  Our update now covers a number of jurisdictions.  For the full update on… Read more

UK: Banking Standards Review

Sir Richard Lambert has today published a report with his recommendations on plans for a professional body, to be known as the Banking Standards Review Council (BSRC), to contribute to a continuous improvement in the behaviour and competence of all banks… Read more

When will sanctions frustrate an agreement?

A recent judgment of the English Commercial Court has highlighted the issue of the effect of new sanctions legislation upon contractual obligations, and in particular the importance of considering applications for available licences before seeking to rely on the doctrine… Read more

EU takes steps towards easing Zimbabwe sanctions

Susannah Cogman and Jeremy Sher comment on the EU's recent easing of the Zimbabwe sanctions regime. On 19 February 2013, the European Union ("EU") took a small step towards easing its sanctions regime in relation to Zimbabwe.  Twenty one individuals and… Read more

Iran sanctions update: New EU measures in force

On 22 December 2012, three new EU measures in relation to Iran were published in the EU Official Journal.  These expand the existing suite of EU sanctions, and are likely to be relevant to any EU companies, or persons within… Read more

Draft Banking Reform Bill published

The draft Financial Services (Banking Reform) Bill has now been published.  This draft Bill is the first legislative step towards implementing the ring-fencing and depositor preference recommendations of the Independent Commission on Banking (ICB) made in September 2011.  The Government… Read more

Sanctioning directors of failed banks

On 3 July, HM Treasury published for consultation its proposals on "Sanctions for the directors of failed banks", requesting responses by 30 September 2012.  The consultation paper seeks comments on whether the Financial Services Bill should introduce a “rebuttable presumption” that… Read more

The FPC’s new tools

The interim Financial Policy Committee (FPC) has recommended that the following macro-prudential tools should be made available to the statutory FPC in order to meet its proposed objective: counter-cyclical capital buffers: adjusting required capital ratios through a time-varying capital buffer… Read more