The following Banking & Finance practice note produced in partnership with Becky Critchley, Denisa Odendaal and Charlotte Collins of Latham & Watkins provides comprehensive and up to date legal information covering:
This Practice Note provides a starting point to assist firms with planning and implementing a London Interbank Offered Rate (LIBOR) transition project. It provides some background on the FCA’s role in LIBOR transition and how it is helping firms prepare, before discussing in more detail key issues raised by UK regulators.
This is followed by a checklist setting out a number of key LIBOR impact areas that firms will need to investigate and address as well as points to consider when doing so. It should be considered as a starting point and should be read in the context of each firm’s particular operations and LIBOR exposure and be tailored and adjusted appropriately.
Practice Note: LIBOR transition provides a more general explanation of the issues surrounding LIBOR transition, as well as explanation of commonly used terms.
The LIBOR developments tracker sets out developments relating to the transition away from LIBOR to risk-free rates. It covers developments relating to each of the LIBOR currencies: Sterling, US dollars, Swiss Francs, Japanese Yen and Euros, as well as developments relating to the transition from EONIA to €STR. It also contains section on regulatory updates, cross-currency updates, future developments and next steps to look out for.
Practice Note: Interest provisions in risk-free rate based loan agreements focuses on how provisions in loan agreements based on risk-free rates differ from
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Admissibility of hearsay evidence in criminal proceedingsHow to identify hearsayThe definition of hearsay is contained in the Criminal Justice Act 2003 (CJA 2003). It comprises of four essential elements.There must be:•a statement•made out of court•relied on for the truth of the matter stated,
When transferring an interest in land, any fixtures form part of the land and are transferred with it, unless there is express provision to the contrary. Fittings (also known as chattels) do not form part of the land and will not be included unless it has been expressly agreed otherwise. Difficulty
PRA Rulebook—introduction for the insurance and reinsurance sectorOn 29 August 2015, the Prudential Regulation Authority (PRA) published the PRA Rulebook (Rulebook). The transition from the Handbook to the Rulebook was intended to benefit PRA-authorised firms, to access clearer and more concise
Pre-action disclosure—the applicationThis Practice Note provides guidance on CPR 31.16 pre-action disclosure applications, where the applicant and respondent are likely to be parties to subsequent proceedings. It provides guidance on how to make such an application for disclosure before proceedings
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