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Recent Articles

  •  
    19/07/2024
    EU

    Commission Delegated Regulation on sustainability disclosures for STS securitisations enters into force

    IntroductionThe Commission Delegated Regulation, supplementing Regulation (EU) 2017/2402 (the “Securitisation Regulation”[1]), entered into force on 8 July 2024 (the “Commission Delegated Regulation” [2]). It provides for regulatory technical standards (“RTS”) on the content, methodologies and presentation of information related to the principal adverse impacts of the assets financed by the underlying exposures on sustainability factors for (a) simple, transparent and standardised (“STS”) non-ABCP traditional securitisation, and for (b) STS on-balance-sheet...
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    19/07/2024
    Europe

    The European Commission approves restructuring State aid of €1.3 billion in favour of SAS

    FR
    In October 2020, the European Commission approved a recapitalisation measure of approximately €833 million, notified by Sweden and Denmark, in favour of SAS. This measure was adopted under the State aid COVID-19 Temporary framework.Ryanair challenged the Commission decisions and secured their annulment by the General Court of the EU in May 2023 (joined cases T-34/21 Ryanair v Commission and T-87/21 Condor Flugdienst v Commission). In late 2022, SAS entered a collective insolvency proceeding. Following the annulment of the 2020 decision, the Commission approved again in November 2023 the recapitalisation...
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    19/07/2024
    United Kingdom

    King’s Speech 2024: Will Labour get Britain back building again?

    Planning reform was centre stage of Labour’s manifesto with some ambitious targets for the new Parliamentary term and now, following the King’s Speech on 17 July 2024, we get a hint of the significant legislative changes that are to come. Here we take a look at the new Bills announced and their potential impacts.Planning1. A Planning and Infrastructure Bill will be introduced to reform planning and accelerate the delivery of high-quality infrastructure and housing. The Bill has five key aims:Streamline the delivery process for critical infrastructure by simplifying the development consent...
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    19/07/2024
    United Kingdom

    Jockeying for Clarity – Upheld: ASA Rules against GB Sports Advisors Ltd Betting Ad

    The Advertising Standards Authority (the "ASA") issued a ruling on 17 July 2024 against GB Sports Advisors Ltd t/a Geoff Banks Online for failing to communicate significant terms and conditions of a promotion. The AdvertisementIn April 2024, the Geoff Banks Online website featured a promotion which read "FOR THE MISSUS: Place a bet on the Aintree Grand National and get a free £10 bet on the Scottish Grand National." The ad featured a brief outline of further conditions below, stating “Geoff Banks will award a £10 free bet for use on the Scottish Grand National if you wager...
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    19/07/2024
    Luxembourg

    New regime relating to non-performing loans

    The law of 15 July 2024 on transfer of non-performing loans (the “Law”) was published in the Official Journal of the Grand-Duchy of Luxembourg. It aims at implementing Directive (EU) 2021/2167 on credit servicers and credit purchasers into Luxembourg law. The Law primarily sets out a legal framework enabling the transfer of non-performing loans (the “NPLs”) from bank’s balance sheets therefore achieving the creation of a secondary market for NPLs. It also creates new categories of service providers which will be subject to authorisation requirements under the law of...
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    19/07/2024
    United Kingdom

    Practical consequences of the changes to the FCA listing rules on significant transactions

    1. Introduction  On 11 July 2024, the Financial Conduct Authority (FCA) published a new set of listing rules that will come into force on 29 July 2024. The new rules aim to simplify and streamline the regulatory framework, reduce the administrative burden on issuers, and enhance investor protection and market integrity.One of the most significant changes in the new rules is the revision of the regime for significant transactions by listed companies. These are transactions that have a material impact on an issuer's business, assets, liabilities, financial position, or prospects. Such transactions...
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