Monthly Highlights: January 2018

Monthly Highlights: January 2018

Welcome to this month’s highlights from the Lexis®PSL Banking & Finance team which cover the key news updates from January 2018.

Brexit

BoE evidence to House of Lords EU Financial Affairs sub-committee inquiry into financial regulation and supervision following Brexit

The House of Lords EU Financial Affairs Sub-Committee has published the transcript of oral evidence given by Bank of England (BoE) officials at an evidence session on 1 November 2017 held as part of its inquiry into financial regulation and supervision following Brexit.

FIA announces three Brexit working groups

The Futures Industry Association (FIA) has launched three new Brexit working groups, via which FIA members can provide their direct input into the FIA’s Brexit work. The FIA aims to hold the first working group call for each group in early February 2018, and will circulate agendas in due course. Each working group will be chaired by the FIA’s head of Europe, Simon Puleston Jones, and will operate under the direction of the FIA board’s Brexit working group.

Brexit: AFME paper on key cliff-edge risks in wholesale financial services

The Association for Financial Markets in Europe (AFME) has published a paper highlighting potential cliff-edge risks that Brexit could create for market efficiency and financial stability in wholesale financial services. The paper focuses on issues which may require intervention from policymakers and regulators in the UK and EU27.

Lending

Replacing LIBOR—current position and implications for loan agreements

In News Analysis: Replacing LIBOR: current position and implications for loan agreements, we summarise the current work being carried out by a variety of bodies related to the possible replacement of the London Interbank Offered Rate (LIBOR) as a benchmark rate in finance documents across a range of markets and outlines some implications for loan agreements.

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About the author:

Neeta has been working as a paralegal in Banking and Insolvency for the past 4 and a half years.

She started her legal career at Allen & Overy in 2008 in the midst of the global financial crisis and the collapse of Lehmans where she gained most of her experience.

Neeta also did a short stint in litigation at the Revenue and Customs Prosecutions Office. Neeta graduated with a 2:1 honours degree from University of London, Queen Mary College and went on to obtain a distinction from the College of Law in the Legal Practice Course. She moved to Lexis®PSL in April 2013.