Response to FCA: Consultation on the proposed policy with respect to the exercise of its powers in relation to LIBOR Transition: 18 January 2021

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”.

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.

Report: The Use of Electronic Signatures in Authenticating Global Notes: 31 December 2020

In March 2020, governments around the world took action to stall the advent of the novel coronavirus (Covid-19) by implementing a range of “social distancing” rules.  These measures have meant that market participants may be unable to print and sign documents with “wet ink” in accordance with usual practice.  In this context, the FMLC has published this paper surveying the position of electronic signatures under key jurisdictions.

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