Banking and Finance weekly highlights—16 September 2021

Table of contents

• LIBOR and benchmarks
• UK introduces bill to give LIBOR phase-out legal clarity
• Economic secretary to the Treasury explains new critical benchmarks bill
• Lending
• Ministry of Justice letter regarding the UK acceding to the Lugano Convention
• Security
• HM Land Registry enables pilot of Qualified Electronic Signatures
• HM Land Registry updates Practice Guides 31, 50 and 78
• Shipping finance
• DfT announces backing of zero global shipping emissions by 2050

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Article summary

This week's edition of Banking and Finance weekly highlights includes: (1) the introduction of the Critical Benchmarks (References and Administrators’ Liability) Bill which aims to reduce uncertainty and litigation by clarifying that references to LIBOR in contracts include LIBOR published as synthetic LIBOR ; (2) the Insolvency Service announces that temporary insolvency restrictions are being lifted including the restrictions on winding-up petitions; and (3) HM Land Registry enables a pilot of Qualified Electronic Signatures with a small number of firms.