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.
The purpose of this Practice Note is to provide an overview of the technical standards (TS), technical advice and guidelines developed by the European Securities and Markets Association (ESMA), the European Banking Authority (EBA) or by ESMA, EBA and the European Insurance and Occupational Pensions Authority (EIOPA) acting together (the European Supervisory Authorities or ESAs) in relation to the European Market Infrastructure Regulation (EU) 648/2012 (EMIR), as amended by EMIR REFIT (Regulation (EU) 2019/834) and EMIR 2.2 (Regulation (EU) 2019/2099).
Various provisions of EMIR require ESMA, EBA or the ESAs to develop TS to be adopted by the European Commission (the Commission) by means of delegated acts. ESMA is also required to develop guidelines under certain provisions of EMIR.TS comprise regulatory technical standards (RTS) and implementing technical standards (ITS).The procedure for adopting TS developed by ESMA, EBA and EIOPA respectively is set out in Articles 10–15 of:
Regulation (EU) 1095/2010 establishing ESMA (the
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This Practice Note provides guidance on the interpretation and application of the relevant provisions of the CPR. Depending on the court in which your matter is proceeding, you may also need to be mindful of additional provisions—see further below.You should also consider if the proceedings will be
What is a res judicata?A res judicata is a decision given by a judge or tribunal with jurisdiction over the cause of action and the parties, which disposes, with finality, of a matter decided so that it cannot be re-litigated by those bound by the judgment, except on appeal.Final judgments by
There may be times when, rather than assigning the benefit of an agreement to a third party, the original parties wish instead to end their obligations to each other under that agreement and, in effect, recreate it, with the third party stepping into the shoes of one of the original parties. This is
This Practice Note discusses the common law doctrine of privity of contract; the equitable and statutory exceptions to it; how the doctrine affects enforcing a contract against a third party and what happens when, notwithstanding the lack of privity, a contract has an indirect effect on a third
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