EUROPEAN COMMISSION ANNOUNCES “NO DEAL” CONTINGENCY ACTION PLAN

The European Commission has announced that it has started implementing its Brexit “no deal” Contingency Action Plan given the continuing uncertainty regarding ratification of the Withdrawal Agreement in the UK. This follows the Commission’s communication of 13 November 2018 which provided details of the types of contingency measures that it intended to take in a variety of areas, as well as the 78 preparedness notices from Commission departments on how Brexit will change law and policy. Continue reading

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.

Prior to the Consultations, the Securitisation Regulation amended EMIR to ensure one goal: consistency of treatment between derivatives entered into by covered bonds issuers; and derivatives entered into by simple, transparent and standardised (“STS“) securitisation issuers. Please click here to read our full briefing.

 

Dina Albagli
Dina Albagli
Partner, London
+44 20 7466 2390
Joy Amis
Joy Amis
Partner, London
+44 20 7466 2840
Jake Jackaman
Jake Jackaman
Partner, London
+44 20 7466 2883
Nick May
Nick May
Partner, London
+44 20 7466 2617
Michael Poulton
Michael Poulton
Partner, London
+44 20 7466 2777