Results 1-10 of 49
15 August 2019
The FCA’s final Guidance on Cryptoassets clarifies which types of cryptoassets the FCA considers to fall within the existing UK regulatory perimeter. In many ways, the Guidance simply confirms the status quo, as it reiterates the need to carry out a substantive...
14 May 2019
The English Court of Appeal has ruled on whether the standard form ISDA 1995 Credit Support Annex contains an obligation to pay negative interest. The Court's judgment re-affirms that, where parties have not otherwise agreed how to address negative interest...
29 April 2019
With roll-out of Phases 4 and 5 of IM on the horizon, we take another look at the changes that this will bring to firms' documentation, systems and controls, as well as some recent developments.
29 April 2019
3 August 2018
The English High Court has ruled on whether the standard form ISDA 1995 Credit Support Annex contains an obligation to pay negative interest. The Court's judgment confirms that, where parties have not otherwise agreed how to address negative interest rates,...
GMRAs and determining 'Fair Market Value': Broad discretion of the non-defaulting party re-affirmed by Court of Appeal
14 May 2018
The English Court of Appeal has ruled on the construction of the close-out default valuation provisions under a repo agreement. The Court's judgment reaffirms that, in reaching a determination of "fair market value", the non-Defaulting party has considerable...
2 May 2018
The UK Prudential Regulation Authority published its Policy Statement: Groups Policy and Double Leverage, on 30 April 2018. The Policy Statement addresses various group-level prudential regulatory issues. The over-arching theme is a concern that compliance with...
Clifford Chance advises HQLAx on the first live securities lending transaction settled using R3’s Corda blockchain platform
5 March 2018
International law firm Clifford Chance has advised HQLAx on the first live securities lending transaction settled using R3’s Corda blockchain platform. This transaction brings the HQLAX–developed collateral lending application on Corda (CorDapp), one step closer...
21 February 2018
Amidst the mass of legislation before Parliament at the end of 2017 and a pre-MiFID 2 rush, one technical legislative amendment was passed with particular relevance to the legal certainty of the financial market clearing infrastructure in the UK. Part VII of the...
8 June 2017
On 31 May 2017, the European Securities and Markets Authority (ESMA) published an opinion setting out nine principles to support supervisory convergence in the context of relocations from the UK, following the UK's decision to leave the EU. The opinion is addressed...