To facilitate the transition of “tough legacy” contracts away from LIBOR, HM Government has introduced the Financial Services Bill 2019-21 (the “Financial Services Bill”) which grants new powers under to the Financial Conduct Authority (“FCA”) to help it manage an orderly “wind-down of critical benchmarks”.
Tag: 2021
Letter to HM Treasury: Financial Services Bill 2019-21: 13 January 2021
On 21 October 2020, HM Government published the Financial Services Bill 2019-21 (the “Bill”). The Bill amends the U.K.’s existing legislative framework for financial services in 17 distinct areas, addressing […]
Report: Issues of Legal Uncertainty Arising in the Context of Monetary Finance: 6 January
This note, published in pursuit of the FMLC’s educational remit, outlines some of the legal issues which arise in the context of monetary policy and monetary financing, and considers a recent judicial decision in relation to the distinction between monetary policy and monetary financing, so as to highlight particular consequences for stimulus policies by National Central Banks.