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International Regulatory Update 14 – 18 September 2026

Tue, 22 Sep 2026 08:52:50 GMT

Clifford Chance's International Regulatory Update is a weekly digest of significant regulatory developments affecting banking and investment banking business, drawing on our daily content from our Alerter: Finance Industry service.

Clifford Chance advises RNV Infrastructure on the sale of a BESS project to SANY International Industrial

Mon, 21 Sep 2026 08:00:00 GMT

Partner Nadia Badea said: “We are honoured to have completed another transaction alongside the Renovatio Group, a leader in the renewable energy sector, with which we share an extensive partnership. Every transaction in which we advise– whether it is an M&A transaction or financing – represents an important milestone in their business vision, and we are happy to have contributed to its advancement.”

Battery energy storage systems (BESS) have become a critical component of regional energy infrastructure and security, and this segment continues to attract investors and strategic capital. In this context, our Energy practice has intensified its activity, advising leading investors, developers and financiers on M&A transactions and BESS project development, optimisation contracts and major financings.”

Press contact: Anne Marie Nistoroiu

International Regulatory Update 7 – 11 September 2026

Tue, 15 Sep 2026 10:28:00 GMT

EU ETS Phase V: The Commission's blueprint for carbon pricing beyond 2030

Wed, 23 Sep 2026 15:18:10 GMT

The European Commission has published a proposal to revise the EU Emissions Trading System (EU ETS) for the period 2031–2040 (Phase V), launching what is likely to become one of the most politically significant climate reforms of the current legislative cycle. The proposal, part of the broader package implementing the EU's recently adopted 2040 climate target of a 90% net greenhouse gas emissions reduction compared to 1990 levels, reflects a notable shift in the Commission's approach: while preserving the EU ETS as the cornerstone of European climate policy, the proposal places substantially greater emphasis on industrial competitiveness, affordability and investment predictability than previous reforms.

The proposal, published on 17 July 2026, arrives against a backdrop of sustained concern from European industry regarding energy costs, the pace of decarbonisation obligations, increasing global competition (particularly from jurisdictions with less stringent carbon constraints) and the need to support innovative low-carbon technologies.

For businesses operating in EU ETS-covered sectors, the proposal is important not because it changes the direction of travel, but because it may significantly alter the pace, cost profile and financing environment of the transition during the 2030s.

International Regulatory Update 12 – 16 January 2026

Wed, 23 Sep 2026 15:18:10 GMT

International Regulatory Update 18 – 22 March 2024

Wed, 23 Sep 2026 15:18:10 GMT

International Regulatory Update 11 – 15 March 2024

Wed, 23 Sep 2026 15:18:10 GMT

International Regulatory Update 24 – 28 July 2023

Wed, 23 Sep 2026 15:18:10 GMT

International Regulatory Update 26 – 30 September 2022

Wed, 23 Sep 2026 15:18:10 GMT

International Regulatory Update 15 – 19 August 2022

Wed, 23 Sep 2026 15:18:10 GMT

International Regulatory Update 4 – 8 July 2022

Wed, 23 Sep 2026 15:18:10 GMT

International Regulatory Update 31 August – 04 September 2026

Mon, 07 Sep 2026 11:06:46 GMT

International Regulatory Update 24 – 28 August 2026

Tue, 01 Sep 2026 08:49:41 GMT

International Regulatory Update 17 – 21 August 2026

Tue, 25 Aug 2026 08:32:10 GMT

International Regulatory Update 10 – 14 August 2026

Tue, 18 Aug 2026 14:20:00 GMT

Roundtable on Agentic Payments and the Emerging Regulatory Landscape

Thu, 13 Aug 2026 15:45:00 GMT

These notes summarise the key themes and discussions from the roundtable on agentic payments co-hosted by the Fintech Foundation and Vanderbilt Law School and sponsored by Clifford Chance LLP held on 16 June 2026. They follow the structure of the agenda and draw out the principal points of discussion and the range of views expressed within each session.

International Regulatory Update 03 – 07 August 2026

Tue, 11 Aug 2026 10:33:03 GMT

Financing European defence: how can Europe address the fiscal and capital challenges?

Thu, 06 Aug 2026 13:28:00 GMT

Against a backdrop of geopolitical, strategic uncertainty, Europe is progressing plans to rearm and shoulder more responsibility within NATO. In June 2025, NATO allies made a clear commitment to invest 5% of GDP annually by 2035, including at least 3.5% on core defence spending. However, three concrete questions remain unresolved: (i) how this commitment can be delivered given national budgetary constraints, (ii) how to plug the funding gap for the defence supply chain composed of small and medium-sized enterprises (SMEs), innovative tech companies and start-ups which do not have the same access to finance as the defence primes, and (iii) can new funding instruments, new institutions and a new approach close this gap, leverage public investment and create a virtuous circle which crowds in private capital to meet our needs?

This briefing highlights emerging financing options which may help address these challenges and which complement initiatives taken by the European Union, such as the SAFE programme. We describe:

new financial products which can help direct private capital to finance the defence and security sectors;
intergovernmental and multinational initiatives which can complement SAFE, create capacity to raise debt in the capital markets which is not consolidated into national debt figures but which, when combined with the palette of instruments used by development and promotional banks, create a multiplier or leveraged effect that crowds in private capital into funding the defence and security sectors;
recent market trends which demonstrate that defence, resilience and security could be the new "green" and can attract private capital in the form of both debt and equity.

International Regulatory Update 27 – 31 July 2026

Tue, 04 Aug 2026 08:22:01 GMT

Clifford Chance advising Emirates NBD on the proposed acquisition of the retail banking business of HSBC Bank Egypt S.A.E. (“HSBC Egypt”)

Mon, 03 Aug 2026 13:11:00 GMT

The transaction remains subject to regulatory approvals and closing conditions.

As part of the transaction, Emirates NBD Egypt will acquire HSBC Egypt’s retail banking portfolio along with the associated branch and ATM network, customer base and relevant employee base. The transaction is expected to enhance Emirates NBD Egypt's market positioning as a leading retail and premium banking franchise in Egypt, while deepening the connectivity for the Group across the UAE-Egypt corridor.

The Clifford Chance team was led by Regional Managing Partner, Middle East and Türkiye, Mohammed Al-Shukairy.

Mohammed commented "We have a highly valued relationship with Emirates NBD and are delighted to continue to play a role in their exciting journey and impressive expansion. Emirates NBD continues to show leadership in financial services across the region and beyond."

He was supported by a team from across the Clifford Chance network, including: James Dadford (Senior Associate), Cari Sweeney (Senior Associate), Gareth Dray (Legal Director), Yara Hage (Associate), Jack Hardman (Partner), Karim Vellani (Associate), Paul Coates (Partner), Alistair Woodland (Partner), Clare Hoxey (Partner), Laura Conway (Senior Associate), Nuri Mirwani (Senior Associate), Kate Amelia Haywood (Senior Associate), Becky Moore (Senior Associate), Tom J. (Associate), Zayed Al Jamil (Partner), Jamie Andrew (Counsel), Mark Comber (Senior Associate), Sabrina Rodrigues (Associate), Violetta Kokolus (Partner), Hayley Kwan (Associate), Edward Page (Partner), Viktoria Parkhomenko (Senior Associate), Archie Zverev (Associate), Todd Lowther (Partner), and Kade Moural (Associate).

The transaction adds to Clifford Chance's extensive experience advising leading financial institutions on significant banking and financial services transactions across the Middle East, North Africa and Türkiye.

Clifford Chance recently celebrated 50 years in the Middle East. Its regional M&A/ Private Equity practice is consistently top ranked by leading legal directories and is ranked first in the Middle East for M&A by deal value in Mergermarket's H1 2026 league tables.

Press Contact : Samantha White