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What do corporate treasurers need to know about EU EMIR and UK EMIR as we approach the midpoint of 2025 This briefing summarises the recent and pending developments in these two regimes, as well as areas of divergence between them.  These areas and the possibility of further divergence should be monitored closely as and when we hear further policy...
Hong Kong's New Uncertificated Securities Regime: A Quick Guide for Listed Companies The Hong Kong Securities and Futures Commission (SFC) has announced it is on track to launch the uncertificated securities market (USM) regime for Hong Kong-listed securities in early 2026, with the precise implementation date to be announced in due...
BLOG: FRC publishes new Stewardship Code 2026 Following an extensive period of consultation with various stakeholders, the Financial Reporting Council has finally published its new Stewardship Code 2026. This will replace the Stewardship Code 2020 (the “2020 Code”). Draft optional guidance to assist...
Podcast: Pensions Essentials highlights in May 2025 Join Dan Schaffer, Catrin Young and Karen Mumgaard in monthly episodes where they delve into the world of pensions law, exploring the main developments to be aware of and what it means for you as clients.
BLOG: German Court Dismisses Landmark Climate Case Against Energy Company In May, a German appeals court issued a landmark decision dismissing a climate litigation claim against the parent company of a multinational energy group. Significantly, however, the Higher Regional Court of Hamm found that a company may, in principle,...
Financial Regulation Weekly Bulletin - 12 June 2025
BLOG: The Independent Water Commission’s interim findings: Pressure builds for reform, but a sea-change looks unlikely Following a Call for Evidence that elicited over 50,000 responses, the UK’s Independent Water Commission (Commission) has published its interim findings, highlighting five areas it believes to be critical to reforming the UK water industry. The...
Competition and Regulatory Newsletter: European Commission fines Delivery Hero and Glovo €329 million for participating in first EU labour market cartel On 2 June 2025, the European Commission announced that it has imposed fines totalling €329 million on Delivery Hero and Glovo for participating in a cartel to eliminate competitive rivalry in the online food delivery sector across the EEA. This historic...
Podcast: Insurance in focus: Private capital’s growing role Join Insurance partner, Tom Peacock, and Co-head of Private Equity, Harry Bacon, for the second episode of 'Insurance in focus'. In this episode, they delve into: The drivers of the ongoing interest of private equity, and private capital more...
First time originator's guide to securitisation - June 2025 Originators can use securitisation to achieve a lower cost of funding than from other debt products and to remove securitised assets from their balance sheet. Securitisation plays an important role in facilitating liquidity and risk management, allowing...
The Independent Water Commission's Interim Findings: Pressure builds for reform, but a sea-change looks unlikely Following a Call for Evidence that elicited over 50,000 responses, the UK’s Independent Water Commission (Commission) has published its interim findings, highlighting five areas it believes to be critical to reforming the UK water industry. The report...
EU Securitisation Framework: Regulatory Update The EU Commission is expected to publish proposals to reform the EU Securitisation Regulation in June 2025.These are expected to be presented with the goal of removing undue issuance and investment barriers in the EU securitisation market.While issuers...
The New Securitisation Framework: what has really changed? On 1 November 2024, the Securitisation Regulations Framework (as defined below) came into force as part of the UK Government’s efforts to establish a ‘Smarter Regulatory Framework’ after Brexit. This note explains the legislative background and compares...
BLOG: ESMA launches consultation on technical standards for ESG rating providers In May, the European Securities and Markets Authority (ESMA) published a consultation paper on a set of three Regulatory Technical Standards (RTS), that will provide additional detail on how the EU intends to regulate ESG ratings providers, which in turn...
Key structuring aspects of a forward flow transaction Forward flows are relatively simple in concept, designed to provide originators with access to reliable committed funding without being directly exposed to the volatility of the capital markets, which in recent years have been challenging for originators...