This paper, although a departure from the Committee’s usual approach, is intended to survey the uncertainties in the context of LIBOR transition and the steps being taken by authorities around the world so as to draw attention to any residual issues.
Tag: Brexit
Letter to Ministry of Justice: Departure from retained E.U. case law: 12 August 2020
The Ministry of Justice is consulting on whether to extend the power to other courts and tribunals and, if so, which test should be applied and factors considered in any decision by a court or tribunal to depart from retained E.U. case law.
Response to Consultation: Overseas Funds Regime: 11 May 2020
In March 2020, HM Treasury published a Consultation (the “Consultation”) on a proposal for an Overseas Fund Regime (the “proposed OFR”), which will establish a new process to allow investment funds domiciled overseas to access the U.K. market, with the objective of replacing the existing regime.
Benchmark Regulation: Response to the European Commission’s 2019 Review: 31 December 2019
On 11 October 2019, the European Commission published a public consultation document on the review of the BMR (the “Consultation”). The FMLC has submitted a response
Journal Article: The impact of a No-Deal Brexit on financial markets: are we better prepared?
In an article for Butterworth’s Journal of International Banking and Finance Law, Dr Perkins and Venessa Parekh, Research Manager at the FMLC Secretariat, examine the progress made in the preparation for the U.K.’s withdrawal from the E.U. in the three years since the referendum.
Addendum: Brexit Analysis on Third Country Regimes in E.U. Legislation: 5 November 2019
The FMLC published a report titled “Issues of Legal Uncertainty Arising in the Context of the Withdrawal of the U.K. from the E.U.–the Provision and Application of Third Country Regimes […]
Report: The Recognition of Choice of Court Agreements under the 2005 Hague Convention: 23 October 2019
The U.K.’s accession to the Hague Convention in its own right has not, however, been the panacea for which market participants and HM Government had hoped. A number of questions have arisen regarding the timing of the Convention’s entry into force in the U.K. and its application to exclusive choice-of-court agreements concluded in the period
“Onshoring” Statutory Instruments Comment Series: Benchmark Regulation: 23 October 2019
This paper considers legal uncertainties arising from the changes proposed by the Benchmarks (Amendment and Transitional Provision) (EU Exit) Regulations 2019 (the “BMR SI”).
Letter to HM Treasury: Financial Services (Implementation of Legislation) Bill: 23 October 2019
The Financial Services (Implementation of Legislation) Bill provides the power to HM Treasury, in the event no deal is agreed between the U.K. and the E.U., to implement and make changes to a category of legislation which the Bill describes as “in-flight”. These are pieces of E.U. financial services