October 2018

On 30 October 2018, HM Treasury published a consultation (the Consultation) on the policy proposal for the implementation of a breathing space and statutory debt repayment plan, both announced in the 2017 Conservative party manifesto. The two proposals should be viewed separately.

The first proposal, breathing space, would give an individual in problem debt the

On 30 October 2018, there was published in the Official Journal of the European Union (OJ) Commission Delegated Regulation (EU) 2018/1620 of 13 July 2018 amending Delegated Regulation (EU) 2015/61 to supplement Regulation (EU) No 575/2013 of the European Parliament and the Council with regard to the liquidity coverage requirement for credit institutions.

The Delegated

On 30 October 2018, there was published in the Official Journal of the European Union (OJ) Commission Delegated Regulation (EU) 2018/1619 of 12 July 2018 amending Delegated Regulation (EU) 2016/438 as regards safe-keeping duties of depositaries.

Delegated Regulation 2016/438 amends the UCITS IV Directive,  further specifying depositaries’ duties with regard to safe-keeping UCITS clients’ assets.

On 30 October 2018, there was published in the Official Journal of the European Union (OJ) Commission Delegated Regulation (EU) 2018/1618 of 12 July 2018 amending Delegated Regulation (EU) No 231/2013 as regards safe-keeping duties of depositaries.

Delegated Regulation 231/2013 supplements the Alternative Investment Fund Managers Directive. The Delegated Regulation will enter into force 20

On 30 October 2018, the European Central Bank (ECB) published a document (the Document) setting out its supervisory priorities for 2019 for the single supervisory mechanism (SSM). The ECB has identified the key drivers of risk in the banking sector are: geopolitical uncertainties; the stock of non-performing loans (NPLs) and potential for a build-up of

The European Banking Authority (EBA) has published a press release acknowledging the adoption by the European Commission of the Implementing Regulation on the procedures and standard forms and templates for the provision of information for the purposes of resolution plans for credit institutions and investment firms, repealing Regulation (EU) 2016/1066.

The Regulation was adopted by

On 29 October 2018, the Netherlands Authority for the Financial Markets (Autoriteit Financiële Markten, AFM) published a report setting out the most important trends and risks in the financial sector (the Report).

The primary purpose of the Report is to provide substantive background, depth and coherence in relation to relevant supervisory

In a judgment recently handed down by the High Court (available here), it was held that the defendant  insurance companies were liable to pay an insurance claim under a marine insurance contract relating to the theft of certain cargo shipments when in Iran, provided such payment be made before the re-imposition of applicable US