Monthly Highlights: August 2019

Monthly Highlights: August 2019

Welcome to this month’s highlights from the Lexis®PSL Banking & Finance team which cover the key news updates from August 2019. 

In this issue

 

Brexit
LIBOR and benchmarks
Lending
Guarantee
Shipping finance
Islamic finance
Debt capital markets
Derivatives
Sustainable finance
Securitisation and structured products
Regulation of derivatives and structured products
Restructuring
Claims and remedies
Regulation for banking lawyers
Tax for banking lawyers

 

Brexit

FCA extends its temporary power to make transitional arrangements in the event of a No deal Brexit to 31 December 2020

The Financial Conduct Authority (FCA) has announced that it intends to extend the proposed duration of the directions issued under its temporary transitional power to 31 December 2020. This is to reflect the extension of the period allowed for the negotiation of the UK's withdrawal from the EU under Article 50 of Treaty on European Union (TEU). Other than allowing additional time for the exercise of its power, the FCA says its approach remains unchanged.

FCA consults on STS notifications under the onshored Securitisation Regulation

The FCA has published consultation paper CP19/26, setting out draft technical standards on the content and format of simple, transparent and standardised (STS) notifications under the onshored Securitisation Regulation. The consultation is part of the FCA’s preparation in case the UK leaves the EU on 31 October 2019 without an implementation period and the relevant EU technical standards have not been brought

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About the author:

Zahra started working as a paralegal at Lexis Nexis in Banking and Insolvency teams in April 2019. Zahra graduated with a 2.1 honours in a BA French and Spanish, completed the GDL at BPP University and is seeking some experience before commencing the LPC. She has undertaken voluntary work for law firms in London, Argentina and Colombia.