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2025 updates to the Green and Social Loan Principles On 26 March 2025, following their latest review, the loan market trade associations published updated versions of the Green, Social and Sustainability-Linked Loan Principles (together, the Loan Principles) and related guidance[1]. The changes are mostly...
2025 updates to the Sustainability-Linked Loan Principles On 26 March 2025, following their latest review, the loan market trade associations published updated versions of the Green, Social and Sustainability-Linked Loan Principles (together, the Loan Principles) and related guidance[1]. The changes are mostly...
New Public Offers and Admissions to Trading Regime: FCA consults on further aspects including facilitating issuance of low denomination bonds On 31 January 2025, the FCA published Consultation Paper CP25/2: Further Changes to the Public Offers and Admissions to Trading Regime and the UK Listing Rules which sets out further proposed changes as part of the reforms to the UK prospectus regime...
  • Governance & Sustainability
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Beyond linear: moving towards a circular economy The concept of a “circular economy” is being increasingly adopted in legislation, including in mandatory reporting and disclosure frameworks. This highlights the circular economy’s role in ensuring a sustainable future. A circular economy is a system that...
New PRA process for insurance own funds permissions The eligibility, issuance and repayment, redemption or repurchase of own funds instruments of or by UK insurance groups will, as of 31 December 2024, be governed by a new regulatory regime. As part of the transposition of the corpus of EU financial...
EU Listing Act - Key changes for Debt Capital Markets On 14 November 2024, a package of reforms known as the EU Listing Act (the “EU Listing Act”) was published in the EU Official Journal. The EU Listing Act is aimed at making the EU public capital markets more attractive for EU companies and at encouraging...
Loan Market Association launches draft provisions for green loans In May 2023, the Loan Market Association (LMA) published draft provisions for sustainability-linked loans (SLLs). Over a year on and the LMA has now turned its attention to drafting for use of proceeds loans, with green loans first on the agenda.
Twin peaks: Transition finance and the agenda for growth “Transition finance” has been in successive UK Governments' sights as an opportunity for the UK. An ambition to make the UK a global leader in transition finance was part of the Sunak Government’s 2023 Green Finance Strategy. The Transition Finance...
PRA's consultation on amendments to the UK large exposures regime In this briefing we consider the potential effect of proposals in the PRA’s consultation paper (CP 14/24) published on 18 October 2024 to amend the large exposures (LE) regime. 
Bank of England's consultation on amendments to MREL In this briefing we consider the impact of the consultation published by the Bank of England on 15 October 2024 on proposed amendments to consolidate and simplify the approach to setting a minimum requirement for own funds and eligible liabilities (MREL).
Sustainable finance re-examined During the course of 2023, doubts about the benefits of ESG-labelled debt (otherwise known as “ESG fatigue”) became increasingly prevalent among finance and treasury teams. This year, we have seen these doubts translate into action. A number of larger...
New public offers and admissions to trading regime: FCA publishes further details - Highlights for Debt Capital Markets The FCA has published further details of the public offers and admissions to trading regime that will come into force next year. In this briefing, we set out the key highlights for the debt capital markets. A separate briefing covers highlights for the...
The International Comparative Legal Guide to Fintech 2024 David Shone, David Ives, James Cook and Charles Randall provide corporate counsel and international practitioners with an overview of the UK legal and regulatory landscape for fintech. 
In-Depth: Lending and Secured Finance - 10th edition - Hong Kong chapter In-Depth: Lending and Secured Finance (formerly The Lending and Secured Finance Review) is a global survey of the most important developments in corporate lending and secured finance markets in each jurisdiction.
New UK securitisation regulations - Edinburgh reforms In this Article, Louis Kriechbaum discusses the new UK Securitisation Regulations and the Edinburgh Reforms.