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EFIG: European Banking Newsletter – November 2024 Developments in this month's edition include: Shortening the standard securities settlement cycle in the EU - ESMA, European Commission and ECB publish joint statement on next steps Minimal impact on Tier 1 capital needs - EBA publishes report on Basel I... Data Privacy Newsletter - Issue 26 In this issue: Legal updates, case law update, regulator guidance, ICO enforcement overview, EU GDPR enforcement overview, views from Australia and The Lens.hig Reflecting on the months since our summer newsletter, it does feel very much like we have star... UK Stewardship Code consultation – flexible principles not prescription Introduction Since its last major overhaul in October 2019, the UK Stewardship Code 2020 (the “Code”) can claim some considerable success – signatories include most of UK’s significant asset managers and many global asset managers. To an extent, its succ... The Legal 500: Blockchain Country Comparative Guide 2024 - UK chapter The Blockchain Country Comparative Guide aims to provide an overview of the law and practice of blockchain law across a variety of jurisdictions. This chapter relates to UK law. Please provide a high-level overview of the blockchain market in your jurisd... The Legal 500: Blockchain Country Comparative Guide 2024 - Hong Kong chapter The Blockchain Country Comparative Guide aims to provide an overview of the law and practice of blockchain law across a variety of jurisdictions. This chapter relates to Hong Kong law. Please provide a high-level overview of the blockchain market in your ... UK bank ring-fencing: Worthwhile reforms? On 11 November 2024, a draft statutory instrument amending the UK bank ring-fencing regime was laid before Parliament (the Draft SI). On the same day, HM Treasury published a response to its September 2023 consultation on ‘near-term reforms’ to the regime... Competition and Regulatory Newsletter: European Commission fines Teva €462.6 million over patent system misuse and competitor disparagement On 31 October 2024, the European Commission announced that it had fined Teva €462.6 million for abusing its dominant position to delay the market entry of rival medicines to treat multiple sclerosis. This is the first ever fine imposed by the Commission i... 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 up... First time originator's guide to securitisation 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 o...