The following Financial Services practice note Produced in partnership with Oliver Lewis and Rachpal Thind of Sidley Austin provides comprehensive and up to date legal information covering:
This Practice Note sets out the passporting rights and related notification requirements of insurance undertakings established in the European Economic Area (EEA). For more information on general passporting rights, see Practice Notes:
EU passporting and Treaty rights; and
Requirements for the exercise of passporting and Treaty rights in the UK
For information on the general conditions required for other UK financial services firms wishing to exercise EEA passporting rights, see Practice Note: Requirements for the exercise of passporting and Treaty rights in the UK.
The Treaty of the Functioning of the European Union (TFEU) provides the general framework for the rights of freedom of establishment and the free movement of services in the European Union (EU) and within the context of the financial services sector (including insurance businesses), such rights are further defined by the Single Market Directives.
The regulatory framework for EEA life and non-life insurers and reinsurers, particularly in relation to supervision, solvency, risk management, governance, reporting and passporting, is set out in Directive 2009/138/EC of the European Parliament and of the Council of 25 November 2009 on the taking up and pursuit of the business of Insurance and Reinsurance, as amended (the Solvency II Directive), which is supplemented by the Commission Delegated Regulation (EU) 2015/35 (the Solvency II Regulation, and together with the Solvency II Directive, Solvency II) and
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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
This Practice Note examines:•why negative pledge clauses are used in commercial transactions •the consequences of breaching negative pledge provisions•how negative pledges are viewed in the context of security and quasi-security, and•key considerations when drafting a negative pledge clauseWhere
Coronavirus (COVID-19): During the current pandemic, legislation and changes to practice and procedure in the courts and tribunals have been introduced, which affect the following:•proceedings for possession•forfeiture of business leases on the grounds of non-payment of rent•a landlord's right to
This Practice Note considers the doctrine of forum non conveniens, also referred to as the appropriate forum or the proper place for a dispute to be determined. This doctrine is of relevance when determining whether the courts of England and Wales have jurisdiction to hear a dispute and is applied
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