In Practice
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In search of lost time: Part 1: the automation and data thesis
In this In Practice article Charles Kerrigan considers automation and standardisation in commercial lending transactions. Part 2 of this article considers the effect on these topics of the fintech industry’s development.
13 June 2024Comparing sustainable debt products and standards
Whilst standards like the Equator Principles and the Responsible Ship Recycling Standards have been applied to specific sectors or asset classes for some time, standards with wider application to the bond and loan markets are now gaining traction. These often have different purposes and consequences for non-compliance. With regulatory frameworks and market practice still developing, further innovation in sustainable debt standards and the refinement of existing standards is expected.
13 June 2024Crypto comes of age? (also, DeFi, NFTs, Web3 and the metaverse)
Crypto is now mainstream. Charles Kerrigan highlights the impact of this across financial markets and concludes that finance lawyers can be late to a party.
13 June 2024Towards algorithm auditing in financial services
We are witnessing a rapid development and adoption of algorithms. At the same time, we need to develop the monitoring and managing of their safety. In the algorithmic age companies are (and should be) increasingly concerned about potential harm that their systems can cause, both in terms of reputation and financially. Knight Capital’s experience (~$450m) caused by a glitch in its algorithmic trading system is a paradigmatic example. As such, in addition to societal, legislative and regulatory pressures, companies themselves are keen to assure their systems are trustworthy.1
13 June 2024Expectations of privacy for individuals under investigation
The appeal in ZXC v Bloomberg is expected to be heard by the Supreme Court later this year. The outcome of this appeal could diminish the expectation of privacy currently afforded to individuals under investigation by law enforcement agencies. With the law on corporate criminal liability under review by the Law Commission, and a growing appetite for claims against senior executives in the financial services sector, this is a case to watch. This piece provides a refresher on the rights currently conferred on suspects.
13 June 2024Sanctions compliance considerations for financial institutions post-Brexit
Following the end of the transition period after the UK’s departure from the EU, the UK’s autonomous sanctions regime (under the Sanctions and Money Laundering Act 2018 (SAMLA 2018)) came into force on 31 December 2020. This regime is largely similar to the EU sanctions regime, but there are several differences which may have implications for financial institutions’ sanctions compliance programmes.
13 June 2024Regulatory divergence after Brexit: laying the foundations for a new UK regime
On 24 December 2020, the UK and EU finally reached agreement on a post-Brexit trade deal. As expected, and as acknowledged by Prime Minister Boris Johnson on Sunday 27 December,1 that agreement contains very limited provision for cross-border trade in financial services. On the same day, Chancellor Rishi Sunak suggested that the UK will now be able to “do things a bit differently” on financial services. This In Practice article briefly examines what that could mean for UK financial sector regulation in the near future and beyond.
13 June 2024Secured vs unsecured personal lending by fintechs
In this In Practice article the authors consider the difficulties of secured personal lending by fintechs and how the application of technology can mitigate risk without requiring security.
03 June 2024Key considerations for lenders when lending to individuals
Lending to individuals can be a challenging area for lenders, as they are required to comply with consumer regulations and must always consider the high-risk nature of certain individual borrowers. In this article, Sukh Ahark of RPC identifies key considerations for lenders when lending to individuals and outlines certain due diligence and legal drafting requirements that can protect lenders from any associated risks.
03 June 2024US SRT structures require cross-practice and cross-geography legal expertise
As the US “significant risk transfer” market catches up to its European equivalent, cross-practice legal teams are playing an important role in ensuring compliance with regulatory requirements for both banks and investors.
03 June 2024
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