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Following the example of the most reliable and secure foreign legislations on securitisation, Morocco has modified its securitisation act n°33-06. The former securitisation act n°10-98 and act n°33-06 introduced  a securitisation framework...

En s'inspirant des législations étrangères les plus performantes et sécurisantes en matière de titrisation, le Maroc a profondément modifié sa loi n°33-06 relative aux opérations de titrisation. Par...

The three decisions of the Tribunal de Grande Instance of Nanterre of 8 February 2013 is the latest episode in the French structured loans to public authorities saga. The Tribunal de Grande Instance of Nanterre rejected the request of the department of Seine-Saint-Denis...

On 19 December 2012, the French Government proposed a new law on separation and regulation of banking activities. The proposals would require larger French banks to separate certain trading and investment activities into dedicated subsidiaries and envisage the...

The European Union (EU) agenda for regulatory reform in the financial sector continues to take shape. The EU has played a leading role in the development of the G20's action plan to respond to the financial crisis and many of the actions being taken aim to...

The Eurozone crisis continues to dominate the global economic landscape, raising questions among market participants as to the implications for market standard derivatives documentation should a Eurozone member leave the currency union, albeit this remains an...

Morocco’s decision to create Casablanca Finance City, a financial gateway for investors looking to access the fast-growing markets of Africa, is set to play a pivotal role in the country’s ambitious programme of economic development. Clifford Chance partner...

The European Union (EU) agenda for regulatory reform in the financial sector continues to take shape. The EU has played a leading role in the development of the G20's action plan to respond to the financial crisis and many of the actions being taken aim to...

The European Commission has now published its formal legislative proposals for a new Market Abuse Regulation (MAR) and a new Market Abuse Directive (MAD2) to replace the 2003 Market Abuse Directive (MAD). The new Regulation seeks to create a single, directly...

A new Regulation on Energy Market Integrity and Transparency (REMIT) will impose for the first time EU-wide rules on insider dealing and market manipulation for wholesale electricity and natural gas markets (including derivatives), based on the existing Market...