Banking

Welcome to the home of the banking sector on Law-Now.

On this page you can access the very latest updates from CMS' banking sector experts. Law-Now also delivers a specialist website, RegZone. RegZone provides you with expert analysis and daily news from the fast-changing world of European financial institution regulation for those working in banking and finance. Click here to visit the dedicated site.

To stay in touch with the latest developments, please bookmark this page on your mobile or register to receive eAlerts.

Recent Articles

  •  
    15/11/2024
    Belgium

    Training obligations: the clock is ticking!

    The clock is ticking: registration for training offered by employers must be completed before the end of November 2024. Although the legislator is discussing an extension of the deadline, caution is recommended and registration obligations must be respected for the time being.As a reminder, employers have training obligations required by law or by collective bargaining agreement.In this regard, note the two following deadlines:Employers with 20 or more employees must draft a training plan for their employees by 31 March at the latest (with consultation/communication obligations with employees or...
    Read more
  •  
    14/11/2024
    Belgium

    The AI Act and IP rights: key obligations for providers of general-purpose AI models

    The European Union’s Regulation 2024/1689, also known as the AI Act, is one of the first laws governing the deployment of artificial intelligence tools. This legislation categorizes AI systems into different risk levels and imposes corresponding obligations. In this last article in our series on AI and intellectual property rights, we discuss the provisions of the AI Act that will have an impact on your intellectual property.1.    Copyright policies regarding general-purpose AI modelsAccording to the AI Act, providers of general-purpose AI (“GPAI”) models must...
    Read more
  •  
    11/11/2024
    United Kingdom

    FCA Survey on Non-Financial Misconduct has Lessons for Firms

    The Financial Conduct Authority (FCA) has published the findings of its comprehensive survey on non-financial misconduct within the wholesale financial services sector. The survey covered incidents from 2021 to 2023. The targeted portfolios included London market insurers, market intermediaries, wholesale banks, and wholesale brokers.Although many of the survey results are positive and demonstrate that firms are addressing incidents of non-financial misconduct, some gaps remain. The message from the FCA is that non-financial misconduct is a priority area and that a firm’s response to non-financial...
    Read more
  •  
    08/11/2024
    United Kingdom

    Levelling the playing field in investment research: introducing payment optionality for pooled funds (FCA CP24/11)

    On 5 November 2024, the Financial Conduct Authority (“FCA”) published a consultation paper (CP24/21) on investment research payment optionality for fund managers. The FCA is proposing to take forward the recommendations of the Investment Research Review (“IRR”) and feedback to its earlier consultation for MiFID investment firms, by extending payment optionality for investment research to fund managers and pooled funds (including UCITS and AIFs).The proposals would allow fund managers to purchase investment research by making joint payments (i.e. by paying for bundled investment...
    Read more
  •  
    08/11/2024
    United Kingdom

    Cy-près solutions: navigating contractual continuity in a post-LIBOR world

    IntroductionIn Standard Chartered PLC v Guaranty Nominees Ltd & Ors [2024] EWHC 2605 (Comm), the English Commercial Court provided a solution to the impact of the cessation of the London Interbank Offered Rate (“LIBOR”) on perpetual preference shares which provide for the payment of dividends determined by reference to that rate. The decision will be of relevance to a large number of existing contracts, which often reference LIBOR in respect of calculating interest.FactsStandard Chartered PLC (“SC”) issued USD 750m in preference shares in 2006 to raise Tier 1 capital....
    Read more
  •  
    31/10/2024
    Europe

    October 2024 Highlights: Key UK and EU Operational Resilience Updates

    As the landscape of operational resilience continues to evolve, this past month has been particularly eventful, marked by significant developments in both the UK and EU. With the impending deadline for compliance with the Digital Operational Resilience Act (DORA) on January 17, 2025, institutions are racing to meet stringent requirements designed to enhance their resilience to digital threats. In the UK, the anticipation builds as regulators are due to publish the finalised Critical Third Parties Regime Rules by the end of 2024, which will further shape the operational resilience framework. Additionally,...
    Read more