The following Financial Services practice note provides comprehensive and up to date legal information covering:
BREXIT: As of exit day (31 January 2020) the UK is no longer an EU Member State. However, in accordance with the Withdrawal Agreement, the UK has entered an implementation period, during which it continues to be subject to EU law. This has an impact on this Practice Note. For guidance, see Practice Notes: Brexit—impact on finance transactions—Key issues for derivatives transactions, Brexit—impact on finance transactions—Derivatives and debt capital markets transactions—key SIs and The impact of Brexit on the MiFID II regime.
The Markets in Financial Instruments Directive 2014/65/EU (MiFID II) and the Markets in Financial Instruments Regulation (EU) 600/2014 (MiFIR) were published in the Official Journal of the EU on 12 June 2014 and entered into force 20 days later on 2 July 2014. In accordance with Regulation (EU) 2016/1033, the majority of MiFID II and MiFIR provisions applied from 3 January 2018.
MiFID II and MiFIR together replace the Markets in Financial Instruments Directive 2004/39/EC (MiFID).
Regulatory technical standards (RTS) on criteria for determining whether derivatives subject to the clearing obligation under the European Market Infrastructure Regulation (EU) 648/2012 (EMIR) should be subject to the trading obligation under MiFIR are set out in Commission Delegated Regulation (EU) 2016/2020.
RTS on the direct, substantial and foreseeable effect of derivative contracts within the European Union (EU) and the prevention of the evasion of rules and
**Trials are provided to all LexisPSL and LexisLibrary content, excluding Practice Compliance, Practice Management and Risk and Compliance, subscription packages are tailored to your specific needs. To discuss trialling these LexisPSL services please email customer service via our online form. Free trials are only available to individuals based in the UK. We may terminate this trial at any time or decide not to give a trial, for any reason. Trial includes one question to LexisAsk during the length of the trial.
To view the latest version of this document and thousands of others like it, sign-in to LexisPSL or register for a free trial.
Existing user? Sign-in
Take a free trial
The offence of false imprisonmentFalse imprisonment is a common law offence but it is more common as a civil action in tort (see Practice Note: False imprisonment).It is triable only on indictment. It may be classified in class 2A, 2B or 3 in accordance with the Criminal Practice Directions.The
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
The rights preserved under the European Convention on Human Rights (ECHR), as set out in the Human Rights Act 1998 Sch 1, can be broadly divided into three groups:•absolute rights—which cannot be interfered with by the state or derogated from even in a state of emergency•limited rights—which may 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
0330 161 1234
To view our latest legal guidance content,sign-in to Lexis®PSL or register for a free trial.