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Brexit and access to UK financial markets by EU27 firms

Brexit and access to UK financial markets by EU27 firms

17 Aug 2018

The UK is proposing new legislation to mitigate the impact on EU27 regulated firms arising from a "no deal" scenario in March 2019.

Publication

No negative interest payable under standard ISDA Credit Support Annex says English court

No negative interest payable under standard ISDA Credit Support Annex says English court

By , and | 27 Jul 2018

On 25 July the English High Court ruled that there is no obligation to pay negative interest under an English law CSA.

Publication

UK Court says no negative interest payable under standard ISDA Credit Support Annex: a view from the loan markets

UK Court says no negative interest payable under standard ISDA Credit Support Annex: a view from the loan markets

By , and | 27 Jul 2018

A recent case in relation to the standard ISDA Credit Support Annex (CSA) has ruled that there is no obligation to pay negative interest under an English law CSA (see The State of the Netherlands v Deutsche Bank AG [2018] EWHC 1935 (Comm)).

Publication

The Brexit White Paper:  What it means for Financial Services

The Brexit White Paper: What it means for Financial Services

By and | 18 Jul 2018

The first few days of the White Paper's political reception in Westminster have been less than encouraging.

Publication

Repo and Stock Loan Netting Opinion Coverage

Repo and Stock Loan Netting Opinion Coverage

By | 04 May 2018

The long-awaited discontinuance of netting opinion coverage for the OSLA and 1995 GMRA has been announced by the industry associations, ISLA and ICMA.

Publication

New ICMA Guide to Best Practice in the European Repo Market

New ICMA Guide to Best Practice in the European Repo Market

By , and | 30 Jan 2018

In December 2017, ICMA updated its decade old repo trading practice guidelines in a brand new document that significantly updates the old guidelines and consolidates them with various other ICMA publications.

Publication

Derivatives Alerter: FX Forwards – A Possible Solution Under EMIR Review Proposals

By , and | 20 Nov 2017

The EU Council has just released a revised draft of a proposed Regulation to amend EMIR.

Publication

The Wealth Finance Brief - September 2017

The Wealth Finance Brief - September 2017

By , , , and | 21 Sep 2017

In this quarter's edition of The Wealth Finance Brief, we focus on the art world and the long awaited proposals for reform of the security law following the announcement of the Goods Mortgages Bill.

Publication

Banker's duty to inform customers inferred by voluntary adoption of Business Banking Code

Banker's duty to inform customers inferred by voluntary adoption of Business Banking Code

By , and | 07 Sep 2017

In October 2016 we reported on a case that apparently heralded a new approach by the courts to the traditional duty of care imposed on financial advisers when advising their clients (the "Bolam test"), placing more responsibility on a properly informed investor to accept the consequences of the investment risks they have voluntarily assumed (O'Hare v Coutts & Co [2016] EWHC 2224 (QB)).

Publication

Points to watch when lending to Directors of Listed Companies

Points to watch when lending to Directors of Listed Companies

By and | 07 Sep 2017

Where a lender is contemplating taking security over the shares or debt instruments in a UK listed company from one of its directors (or other persons discharging managerial responsibilities in the issuer ("PDMRs")), it needs to be aware of certain provisions of the EU Market Abuse Regulation (Regulation 596/2014) ("MAR"). MAR came into force in July 2016 and, amongst other things, repealed and replaced the Model Code and provisions in the Disclosure Guidance and Transparency Rules of the UK Listing Authority (the "DTRs") concerning dealings by PDMRs.

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