The following Financial Services practice note provides comprehensive and up to date legal information covering:
BREXIT: 11pm (GMT) on 31 December 2020 (‘IP completion day’) marked the end of the Brexit transition/implementation period entered into following the UK’s withdrawal from the EU. Following IP completion day, key transitional arrangements come to an end and significant changes begin to take effect across the UK’s legal regime. This document contains guidance on subjects impacted by these changes. Before continuing your research, see: Brexit and financial services: materials on the post-Brexit UK/EU regulatory regime.
This Practice Note examines:
the conflicts of interest requirements in:
the recast Markets in Financial Instruments Directive 2014/65/EU (MiFID II), and
a MiFID II Level 2 measure, Commission Delegated Regulation (EU) 2017/565 (the MiFID II Organisational Regulation), and
the rules and guidance on conflicts of interest (the conflicts of interest rules) which apply to firms with effect from 3 January 2018 (the date of implementation of MiFID II) as set out in:
the MiFID II Organisational Regulation, and
the Senior Management Arrangements, Systems and Controls sourcebook in the Financial Conduct Authority (FCA) Handbook (SYSC), as amended in part to reflect the requirements of MiFID II and the MiFID II Organisational Regulation
MiFID II and the Markets in Financial Instruments Regulation (EU) 600/2014 (MiFIR) entered into force on 2 July 2014. The majority of the provisions of MiFID II and MiFIR have effect from 3 January 2018.
MiFID II and MiFIR together
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This Practice Note discusses Term Loan B (TLB) facilities which frequently appear as a tranche of senior facilities in syndicated loans in leveraged financings. TLBs are an established feature in the US market and increasingly used in the European lending market for institutional investors.This
This Practice Note considers proprietary estoppel from a generic standpoint.For industry specific guidance on proprietary estoppel, see Practice Notes:•Estoppel and property law•Mortgages by estoppelProprietary estoppel—what is it?Unlike the other forms of estoppel (see Practice Note: Estoppel—what,
On the disposition of a property (whether by way of conveyance, transfer or charge), the party making the disposition will normally provide a title guarantee which implies standard form covenants for title. A landlord may give a title guarantee when granting a lease, but this is rare in practice.
A certificate of title (also known as a certificate on title) is a particular species of report on title.When solicitors are instructed to investigate title to land (for instance, when land is being acquired or offered up as security), they will write a report on title for their client, which sets
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