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Countdown to Compliance - Failure to Prevent Fraud Guidance Released The UK government has released its long-awaited Guidance on the new corporate offence of failure to prevent fraud, outlining the key elements of the offence and offering practical advice on designing and implementing reasonable fraud prevention procedures...
DMCC Act seeks to make consumer protection fit for the digital age The Digital Markets, Competition and Consumers Act 2024 (DMCC Act) received Royal Assent on 24 May 2024, bringing in long-anticipated reforms aimed at forging a UK regulatory framework fit for the digital age. In doing so, the DMCC Act introduces major...
First time originator's guide to securitisation - November 2024 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...
FOS Reform: FCA call for input Financial services firms have been dealing with a deluge of near-identical customer complaints about single issues, driven largely by claims management companies and claimant-side law firms (CMCs) effectively seeking to use the Financial Ombudsman Service...
Loan Market Association launches draft provisions for green loans In May 2023, the Loan Market Association (LMA) published draft provisions for sustainability-linked loans (SLLs). Over a year on and the LMA has now turned its attention to drafting for use of proceeds loans, with green loans first on the agenda. In May...
Tax and the City Review - November 2024 In their latest Tax and the City article, Mike Lane and Zoe Andrews consider: the measures in the Autumn Budget which affect financial institutions; the FTT’s decision in GCH where the success of a tax avoidance scheme relied on the taxpayers showing an...
EU Listing Act - Key changes for Debt Capital Markets On 14 November 2024, a package of reforms known as the EU Listing Act (the “EU Listing Act”) was published in the EU Official Journal. The EU Listing Act is aimed at making the EU public capital markets more attractive for EU companies and at encouraging...
Improving access to EU Capital Markets: Changes to the EU prospectus and market abuse regimes Following the recent publication in the EU Official Journal of a package of legislation known collectively as the EU Listing Act, we now have a clearer picture of how and when the EU prospectus regime, market abuse regime and certain other EU capital...
More risk, more reward: Financial regulators publish consultation paper on bank remuneration reform Following the global financial crisis, the UK implemented a highly structured regulatory regime for bank remuneration in line with the EU’s approach under the Capital Requirement Directives. In some respects, this regime went further than the rules in...
Employment Bulletin - November 2024 Topics covered in this bulletin: Employment Rights Bill; general workforce consultation on individual redundancy dismissal; pre-termination negotiations inadmissible in unfair dismissal claim; new offence of failure to prevent fraud Employment Rights Bill...