The following Financial Services practice note provides comprehensive and up to date legal information covering:
A package of legislation intended to reduce risks in the EU banking sector, known as the ‘banking package’, was published in the Official Journal of the EU on 7 June 2019. The package sets out revised rules on capital requirements (Directive (EU) 2019/878 (CRD V) which amends the fourth Capital Requirements Directive 2013/36/EU, and Regulation (EU) 2019/876 (CRR II) which amends the Capital Requirements Regulation (EU) 575/2013) as well as revised rules on resolution (Directive (EU) 2019/879 (BRRD II) which amends the Bank Recovery and Resolution Directive 2014/59/EU, and Regulation (EU) 2019/877 (SRMR II) which amends the Single Resolution Mechanism Regulation (EU) 806/2014). This Practice Note looks at each of the new measures in turn, as well as the background to the banking package and when the provisions will start to apply.
In November 2016, the European Commission published a series of legislative proposals for amendments to the fourth Capital Requirements Directive 2013/36/EU (CRD IV), the Capital Requirements Regulation (EU) 575/2013 (CRR), the Bank Recovery and Resolution Directive 2014/59/EU (BRRD) and the Single Resolution Mechanism Regulation (EU) 806/2014 (SRMR), known collectively as the ‘banking package’. The package was seen as an important step towards completion of the European post-crisis regulatory reforms, with its risk-reduction measures allowing further progress in completing the Banking Union and the Capital Markets Union, as called for
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This Practice Note provides guidance on claims for ‘use and occupation’ or mesne profits, and how and when double rent or double value can be claimed.Claims for use and occupationA claim for use and occupation is possible where there is occupation of land without an express agreement fixing the
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A limited company that proposes to issue redeemable shares must comply with the provisions of the Companies Act 2006 (CA 2006).Why do companies issue redeemable shares?A company may wish to issue redeemable shares so that it has an alternative way to return surplus capital to shareholders without
Disposal and devolutionThe equity of redemption arises as soon as the mortgage is made. It is an interest in the land which the mortgagor can:•transfer, lease or mortgage inter vivos, or•by will (it passes on intestacy)No cloggingIt is a fundamental principle of a mortgage that there must be no clog
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