The following Financial Services practice note provides comprehensive and up to date legal information covering:
This Practice Note provides a guide to key Financial Services materials on the post-Brexit regulatory regime applying to UK and EU financial institutions as of 1 January 2021. In addition, we also include links below to Brexit materials which set out developments in relation to the wider implications of Brexit on financial services for example the temporary permissions regime (TPR), financial services contracts regime (FSCR), temporary regimes for financial market infrastructures (FMIs), and temporary transitional powers for the UK regulators (TTP).
Impact of Brexit: AIFMD—quick guide
Impact of Brexit on asset managers and investment funds
Alternative Investment Funds Managers Directive (AIFMD)—timeline
AIFMD—the marketing of AIFs, passporting and third country provisions
Quick Look Brexit Financial Services Legislation Status Guide—BRRD and BRRD II
Impact of Brexit: BRRD—quick guide
Bank Recovery and Resolution Directive (BRRD)—timeline
Bank Recovery and Resolution Directive (BRRD)—essentials
Bank Recovery and Resolution Directive (EU BRRD)—technical standards and guidelines
Quick Look Brexit Financial Services Legislation Status Guide—Benchmarks Regulation
Impact of Brexit: Benchmarks Regulation—quick guide
Benchmarks Regulation—one minute guide
The Benchmarks Regulation—level 2 and level 3 measures and other resources
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Defects liability period and rectification of defectsIt is common in construction projects for defects to manifest or appear in the works. Most construction contracts require the contractor to return to site to rectify (also known as ‘make good’) defects which arise or are discovered during a
Insurable interestThis Practice Note considers insurable interest, including insurable interest in construction and liability insurance. It also considers insurable interest in subrogation, co-insurance and double insurance and the Insurable Interest Bill.What is insurable interest?‘Insurable
Mortgagee’s consent to grant of leaseIf a property is subject to a mortgage that prohibits leasing without the mortgagee’s consent, then written evidence of consent must be obtained prior to completion of the lease. On the grant of an underlease, mortgagee’s consent in respect of any mortgage over
Qualified one-way costs shifting (QOCS)What is QOCS?Qualified one-way costs shifting (QOCS) was introduced on 1 April 2013 as part of the Jackson costs reforms following the removal of a claimant’s right to recover additional liabilities from the defendant, ie success fees and after the event (ATE)
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