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FCA introduces new rules on cryptoasset promotions

Posted by Martin Bartlam and Marina Troullinou on 8 June 2023

The Financial Conduct Authority (FCA) published today Policy Statement PS23/6 introducing new financial promotion rules for cryptoassets, together with relevant draft guidance under Guidance Consultation GC23/1.

Keeping an ‘AI’ on the Market: Competition and Markets Authority announces launch of consumer protections for artificial intelligence

Posted by Sophie Lessar on 9 May 2023

On 4 May 2023, the UK’s Competition and Markets Authority (CMA) announced the launch of an initial review of competition and consumer protection principles that are designed to guide the ongoing development and use of artificial intelligence (AI) foundation models.

EU securitisation – final draft homogeneity RTS: no change regarding corporate exposures

Posted by Mark Daley on 15 February 2023

Securitisation lawyers know that when structuring an STS issue, one of the “simplicity” requirements in Article 20 of the Securitisation Regulation is that the assets must be homogeneous (see further, “What is homogeneity and how do we know it when we see it?”).  

Consultation on the Credit Servicing Directive – Three Initial Observations

Posted by Conor Houlihan and Oisin Mulvihill on 2 February 2023

The Department of Finance has announced a consultation process on the Credit Servicing Directive. Read our top three initial observations. 

The European Parliament offers the prospect of relief regarding the upcoming output floor

Posted by Mark Daley on 27 January 2023

Tuesday’s approval by the Committee on Economic and Monetary Affairs of the proposed Basel 3 reforms was good news regarding securitisation.

DORA - Operational Resilience Update

Posted by Nichola Donovan on 16 January 2023

The EU Digital Operational Resilience Act (DORA) has now been published (on 27 December 2022) and entered into force on 16 January 2023. There will be a 24 month implementation period. Therefore, DORA will apply from 17 January 2025 in all EU Member States.

The EU and UK securitisation regimes - a gradual divergence

Posted by Mark Daley on 21 December 2022

As 2022 draws to a close, what kind of divergence have we seen between the EU and UK securitisation regimes since Brexit, and what can we expect over the next couple of years? 

Hong Kong Airlines restructuring is safely landed

Posted by David Manson, Jared Green and Rowan Aspinwall on 19 December 2022

The restructuring of Hong Kong Airlines has been approved. It is the first time that a parallel English Restructuring Plan and Hong Kong Scheme of Arrangement have successfully been used to restructure Hong Kong, PRC and English law-governed debts.

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