The following Banking & Finance practice note provides comprehensive and up to date legal information covering:
BREXIT: The law as set out in this Practice Note may be affected by Brexit. For further details on the potential impact of Brexit on competition law, see Practice Note: The effect of Brexit on UK competition law.
This Practice Note provides an introduction to the main areas of competition law and is aimed at in-house banking and finance lawyers. Competition law is in the spotlight for lenders as the European Commission is conducting a review of possible competition issues within the loan syndication market. Institutions are being advised to have clear policies and procedures in place to avoid competition law breach as well as on-going training for any teams who may encounter competition law issues. Institutions without in-house expertise should consult an external competition law team to ensure that the institution is not in breach and to assist in putting policies in place. Furthermore, the banking sector has been in the spotlight as a result of enforcement action by the European Commission. For example, the Commission has fined banks heavily in the Euro Interest Rate and Yen Interest Rate Derivatives cases (in total €1.7bn).
This Practice Note is intended to provide an introduction to the main areas of competition law and to flag some key areas where an in-house finance lawyer may come across competition law issues. In particular it explains:
the main areas of
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The Standard Conditions of Sale (SCS), currently in their 5th edition (2018 revision), are a set of standard conditions which are commonly incorporated into contracts for the sale of residential property. The Standard Commercial Property Conditions (Third Edition—2018 Revision) (SCPC) are used for
Coronavirus (COVID-19): The guidance detailing normal practice set out in this Practice Note may be affected by measures concerning process and procedure in the civil courts that have been introduced as a result of the coronavirus (COVID-19) pandemic. For guidance, see Practice Note: Coronavirus
Defending a tort claim—general considerationsIn reality, many claims are ‘defended’ on the basis that the defendant either did not owe the claimant a duty, or there was no breach of duty or there was a break in the chain of causation.In each of those cases, the claimant has failed to establish that
What is a remedial action notice?A remedial action notice is used by enforcement authorities such as the Food Standards Agency (FSA) or a local authority, where there has been a breach of the Food Hygiene (England) Regulations 2013 (FH(E)R 2013) or where an inspection under FH(E)R 2013 is being
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