In Practice
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The Draft RTS on ESG disclosures for STS securitisations: a hit or a miss?
Draft technical standards concerning sustainability disclosures aim to make STS securitisations more appealing from an ESG investment perspective. This In Practice article examines the proposed regime and identifies some practical shortcomings.
20 March 2024The “crypto crash”: a catalyst for further crypto litigation?
In recent years, the cryptoasset market has developed rapidly, with market capitalisation for cryptoassets estimated to have been around US$2.6-3trn in 2021.1 The market for decentralised finance (DeFi), although still relatively small, has also expanded quickly from less than US$10bn in 2020 to nearly US$100bn in 2021.2 However, over the last few months the cryptoasset market – specifically cryptocurrencies – has been seeing one of its worst selloffs since a market rally in 2020. This has sparked panic amongst investors, causing substantial financial losses. Inevitably, this has seen a flurry of litigation globally in recent months. This trend is likely to continue. We consider the causes of the crypto crash and the likely litigation risks for financial institutions and advisers.
20 March 2024Embedded finance: key considerations for funders of platform borrowers
Embedded finance is, broadly, the availability of financial products, integrated into a company’s infrastructure, provided by non-financial institutions and capitalised by “traditional” financial institutions. Companies are providing these products directly to their own customers, cutting out financial institutions as intermediaries. The benefits of these technology driven products for end-users are efficiency of transactions and bundling complementary services to enhance customer experience (eg point of sale buy-now-pay-later (BNPL) credit).
20 March 2024Recurring revenue-based deals
In this article the authors examine recurring revenue transactions in the UK and European markets – what are they, who are they for, how they work, what are the key features and market trends?
20 March 2024The Bank of England’s loose understanding of Islamic financial law
In this In Practice article leading UK and international legal authority on Islamic financial law, Dr Lu’ayy Minwer Al-Rimawi, explains how the Bank of England’s webpages need to demonstrate a better understanding of Islamic finance law.
20 March 2024Recent trends in leveraged financing: the ever more borrower friendly market
In this article the authors examine recent trends in leveraged finance transactions, looking at “Most Favoured Nation” (MFN) protection, dividend to debt reallocation mechanics, ineffective IP transfer prohibitions and super grower baskets/contribution debt baskets.
20 March 2024UK government consults on new insolvency model laws
The UK government has consulted on legislating to allow British courts to recognise foreign insolvency-related judgments under its enactment of the “original” UNCITRAL Model Law on cross-border insolvency (the Model Law), the Cross Border Insolvency Regulations 2006 (CBIR). The government is also considering incorporating the UNCITRAL Model Law on Enterprise Group Insolvencies (the Group Model Law) to promote closer co-operation on cross-border restructurings.
19 March 2024Soaring inflation and the case for index-linked baskets
In this In Practice article, Latifah Mohamed discusses the impact of current rates of inflation on baskets and other monetary limits in loan agreements, and considers the case for, and practical implications of, indexing such baskets and limits in response.
19 March 2024Embedded finance: Dear CEO
In March (2023) 3 JIBFL 190, we discussed some of the challenges in providing sustainable finance products to consumers from the perspective of revenue-based finance; an embedded finance offering. Namely, there is a balance to strike between: (i) speed and automation; and (ii) positive customer outcomes. On 16 March 2023, the Financial Conduct Authority (FCA) issued a Dear CEO letter (Letter), addressed to payment firms supervised by the FCA within its payments portfolio, highlighting concerns that certain payment firms are not currently striking this balance. For embedded finance, the Letter will primarily impact providers that offer embedded banking services (if they are supervised payment firms), but it may have a wider impact across the industry.
19 March 2024Implementing the UK Wholesale Markets Review
This snapshot indicates how reforms proposed under the UK Wholesale Markets Review (WMR) will be implemented and also compares proposals with EU measures.
19 March 2024
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