International issues

This subtopic provides guidance on international or cross-border issues faced by financial institutions.

Lexology Panoramic guides—Banking Regulation

This is a set of country guides on Banking Regulation produced in association with Lexology Panoramic. Questions are answered by leading practitioners in each of the jurisdictions featured, with each Lexology Panoramic country guide being updated annually.

The set of questions relating to the topic of Banking Regulation and answered by the guide for each jurisdiction covered include:

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(1) What are the principal governmental and regulatory policies that govern the banking sector?
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(2) What are the defining characteristics of a bank to be caught by the banking laws and regulations? Is non-bank fintech regulated differently?
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(3) Do the rules vary depending on the size or complexity of the banking institution?
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(4) Summarise the primary statutes and regulations that govern the banking industry
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(5) Which regulatory authorities are primarily responsible for overseeing banks?
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(6) Describe the extent to which deposits are insured by the government. Describe the extent to which the government has taken an ownership interest in the banking sector and intends to maintain, increase or

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Latest Restructuring & Insolvency News

High Court clarifies position of sole directors under Model Articles and the interaction between UK sanctions regulations and in-court appointment of administrators (Re KRF Services (UK) Ltd and others)

Restructuring & Insolvency analysis: This High Court case (which addresses two important issues in UK company law and sanctions regulations) will be of interest to insolvency practitioners, corporate and restructuring lawyers, sanctions lawyers, and businesses and individuals which are affected by sanctions. Firstly, it clarifies the position of sole directors under the Model Articles for private limited companies. The court ruled that a sole director can validly pass board resolutions and bind the company, regardless of whether they have always been the sole director or were previously part of a multi-member board. This interpretation resolves conflicts between Article 7(2) and Article 11(2) of the Model Articles, with the court favouring Article 7(2)'s provisions. Secondly, the case examines the interaction between UK sanctions regulations and the in-court appointment of administrators. The court determined that making an administration application and order does not breach asset-freezing sanctions, even when the company is designated or controlled by a sanctioned person. While an Office of Financial Sanctions Implementation (OFSI) license is typically required for administrators to act, the court retains discretion to make immediate appointments in urgent situations. Written by Joshua Ray and Duncan Henderson, partners at CANDEY, which acted for the First and Second Applicants on this matter.

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