The following Financial Services practice note produced in partnership with DLA Piper provides comprehensive and up to date legal information covering:
The financial and economic crisis highlighted the increasing risk of financial fragmentation within the internal market for banking services in the EU. To address this concern, the EU established a European Banking Union, which is underpinned by a single rulebook for financial services for the internal market as a whole. This further integrates the banking systems of the EU, with the aim of ensuring the stability and integrity of the EU internal market.
As part of the European Banking Union, the EU established a Single Supervisory Mechanism (SSM) (established by Council Regulation (EU) 1024/2013, the EU SSM Regulation) which harmonised the supervision of credit institutions across the internal market.
All banks supervised under the SSM also participate in the Single Resolution Mechanism (SRM) (established by Council Regulation (EU) 806/2014, the EU SRM Regulation). The SRM is an integral part of harmonising the resolution regime established by the Bank Recovery and Resolution Directive 2014/59/EU (EU BRRD) in Member States participating in the SSM (ie all Member States in the Euro-zone and those non-Euro area Member States who have opted to participate in the SSM). The SRM aims to ensure that a bank failure does not harm the broader economy or cause financial instability, by ensuring an orderly resolution of failing banks with minimal costs for taxpayers and to
Free trials are only available to individuals based in the UK
Complete all the fields above to proceed to the next step.
**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
MedcoSTOP PRESS: A new RTA small claims protocol for whiplash claims comes into effect for accidents occurring on or after 31 May 2021. The small claims track limit for personal injury claims arising from an RTA is increased to £5000 in respect of general damages for pain, suffering and loss of
Methods of statutory interpretation used to resolve ambiguities in legislationIP COMPLETION DAY: 11pm (GMT) on 31 December 2020 marks the end of the Brexit transition/implementation period entered into following the UK’s withdrawal from the EU. At this point in time (referred to in UK law as ‘IP
Arbitration agreements—definition, purpose and interpretationThis Practice Note considers the nature and scope of arbitration agreements with a particular focus on arbitration agreements pursuant to the law of England and Wales, although it also discusses the concept from an international
Tort—the different types of tortThis Practice Note identifies the main torts (bar negligence and nuisance, which are covered elsewhere in our related content) and their key characteristics. Specifically:•trespass to land•trespass to the person•privacy/defamation•liability for animals•employers'
0330 161 1234