The following Banking & Finance practice note provides comprehensive and up to date legal information covering:
This year’s annual round-up reviews some of the most significant developments of 2017 and previews what is on the horizon for 2018. This includes the Prospectus Regulation (EU) 2017/1129, the new UK framework for insurance linked securities, central clearing and mandatory margining for OTC derivatives under the European Market Infrastructure Regulation (EU) 648/2012 (EMIR), the new EU regime for simple, transparent and standardised (STS) securitisation, position limits for commodity derivatives under the Markets in Financial Instruments Directive 2014/65/EU (MiFID II), the trading obligation for certain OTC derivatives under the Markets in Financial Instruments Regulation (EU) 600/2014 (MiFIR) and indirect clearing of OTC derivatives under EMIR and MiFIR. In 2018 the primary focus of derivatives lawyers will be on MiFID II and indirect clearing coming into effect. Also included are updates on LexisNexis®’s content, including news of exciting developments from the past year and what is coming up in the next 12 months.
Regulation (EU) 2017/1129 (the Prospectus Regulation) was published in the Official Journal of the European Union on 30 June 2017. The Prospectus Regulation came into force on 20 July 2017, although it will apply from 21 July 2019, apart from a few provisions which apply earlier.
The Prospectus Regulation repeals Directive 2003/71/EC (the Prospectus Directive) and makes significant changes to the EU prospectus regime:
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On 29 August 2015, the Prudential Regulation Authority (PRA) published the PRA Rulebook (Rulebook). The transition from the Handbook to the Rulebook was intended to benefit PRA-authorised firms, to access clearer and more concise rules. Alongside the Rulebook, supervisory statements and statements
Criminal offences are generally divided into two categories: •conduct crimes, and •result crimesA conduct crime is a crime where only the forbidden conduct needs to be proved. For example, an accused is guilty of dangerous driving if they drove a motor vehicle dangerously on a road or other public
Part 8 of the Corporation Tax Act 2009 (CTA 2009) is a specific corporation tax regime that applies exclusively to the gains and losses of intangible fixed assets. Note, however, that certain intangible fixed assets are excluded from the regime, see Practice Note: Excluded intangible fixed
STOP PRESS: The Corporate Insolvency and Governance Act 2020 contains provisions which, on a temporary basis (presently until 31 December 2020) impose significant limitations on the ability for a creditor to seek a winding-up order against a company. For further reading, see Practice Note: Corporate
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