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Securitisation reporting - revisiting the distinction between public and private securitisations In this article we describe the current distinction between private and public securitisations in the EU and UK (which is currently being reviewed by regulators) and the need for changes in the EU and UK to dovetail with one another.
UK developments: Consumer duty and other current regulatory topics affecting securitised assets Developments in UK financial regulation over the last 18 months have substantially increased the attention which originators, other participants and investors in securitisations of UK retail assets need to give to regulatory risk.
The new securitisation rules In this briefing, Kate Patane outlines the key take-aways from the two recent policy statements issued by the PRA and FCA on the UK Securitisation Regulations.
Hargreaves in the Court of Appeal: A return to orthodoxy on withholding taxes? The Court of Appeal has dismissed Hargreaves’ appeal against the Upper Tribunal’s decision and determined that tax should have been withheld from interest paid on loans advanced to the group. The judgment provides taxpayers and their advisers...
Financial Regulation Weekly Bulletin - 30 May 2024 Includes developments in relation to: CSDDD; MiCA; DORA; operational resilience; UK general election; CRR III; CRD VI; Basel III standards; securitisation; building societies reform; card-acquiring services; AI; GAP insurance; ‘pre-close’ calls; MAR;...
BLOG: VAT recovery on shares sale: no special rule for fundraising transactions The UK Court of Appeal’s decision in Hotel La Tour has dashed taxpayers’ hopes of being more readily able to recover VAT paid on deal fees in respect of share sales. It is possible that the taxpayer may seek to appeal to the Supreme Court (after all, the...
Corporate Update Bulletin - 30 May 2024 Corporate Update is our fortnightly bulletin highlighting the latest legal and regulatory developments of interest to corporates.
Pensions Essentials - May 2024
Getting Ready Series: Corporate Sustainability Due Diligence Directive Our Sustainability team has been exploring upcoming ESG regulatory developments, helping companies to grapple the sheer volume of reporting disclosures across the UK, EU and globally. We explore the 'What,' 'When,' 'Who,' and 'Why' of the Corporate...
Last but not least: consultation involvement key to avoiding regulatory divergence in public and private securitisations In this In Practice article Kate Patane considers the growing divergence between EU and UK reporting obligations in public and private securitisations and how detailed feedback can drive internal “change management” processes and encourage the...
BLOG: Tax Disputes Podcast: France I’m sad to say we have reached the end of our round the world Tax Disputes podcast series but we are going out in style with a trip to Paris for a stimulating conversation between myself, my colleague, tax partner Charles Osborne and Julien Gayral, tax...
What to do about the EU AI Act? In this podcast, Laura Houston and Jordan Ellison discussed the changing tech environment, particularly around AI, and its effect on the legal landscape. As part of their conversation, they discussed the new EU AI Act which will soon become law,...
Financial Regulation Weekly Bulletin - 23 May 2024 Includes developments in relation to: SDR; AI risks; NBFIs; SME finance; Mastercard and Visa fees; PRA supervision of insurance branches; APP fraud; FOS charging powers; and FCA enforcement.
Drafting for extension options - The LMA extends a hand In this briefing, Matthew Tobin, Ed Fife, Kathrine Meloni and Latifah Mohamed provide an overview of the LMA’s new drafting for extension options and consider a few key points for borrowers to keep in mind when looking to incorporate an extension...
BLOG: Challenging dawn raids in the UK HMRC raided the London offices of a global financial brokerage business and the home of a former employee on 28 September 2022, following requests for assistance from Germany and Denmark for criminal investigations in respect of cum-ex trades. The...