Search

An association of German research institutes has concluded in a paper that extending unitary patent protection to the UK post-Brexit through an international convention would create a "fictitious unity" that is incompatible with EU law [ABSTRACT FROM AUTHOR]

The article offers information on the intellectual property (IP) priorities for British government during Brexit. Topics discussed include continuation of European Union-derived IP rights; exhaustion of rights, rights of representation and mutual recognition of judgments; and need for cooperation and data sharing between Great Britain and European Union countries.

Wessex Water, the UK utility, proved that there is still demand for sterling corporate paper in a post-Brexit world, with the issuer achieving almost five times oversubscription for its 15 year trade. [ABSTRACT FROM AUTHOR]

Wessex Water, the UK utility, and National Grid this week proved that there is still demand for sterling corporate paper in a post-Brexit world, with both issuers seeing chunky oversubscriptions for their trades. [ABSTRACT FROM AUTHOR]

UK regulator has shown a post-Brexit willingness to simplify rules [ABSTRACT FROM AUTHOR]

The draft statutory instrument, first published on December 19, 2018, has been brought before Parliament and will lay out the terms of how 'simple, transparent and standardised' (STS) regulation will apply to UK securitizations post-Brexit, and will include provisions for asset backed commercial paper (ABCP) conduits. [ABSTRACT FROM AUTHOR]

The UK government has published guidance on trade marks, copyright, patents, geographical indications, designs and exhaustion, confirming trade mark cloning and giving more information on SPCs and GIs. However, more information on exhaustion is still needed [ABSTRACT FROM AUTHOR]

The UK continues its onslaught of proposals focused on driving innovation forward in a post-Brexit world [ABSTRACT FROM AUTHOR]

Law firms are advising clients affected by post-Brexit divergence, which is forcing firms with both a UK and an EU presence to operate two separate compliance policies and reporting systems [ABSTRACT FROM AUTHOR]

UK loses €33bn of repo trading due to Brexit - report The UK has lost €33bn of repo trading to Europe due to Brexit, according to the latest European repo survey from the main fixed income trade body. The previous ICMA survey, published at the start of this year, suggested European repo market participants were more concerned about "collateral scarcity" than excess liquidity or dealer capacity in 2021. [Extracted from the article]

The UK government is considering changing its securitization rules to allow shares and equity to be securitized, one of many proposals regulators are considering in order to make the sector more competitive. The announcement comes close to the EU's finalisation of its securitization amendments, which has split the two regulatory regimes following the UK's departure from the bloc. [ABSTRACT FROM AUTHOR]

Capital markets professionals are resigned to a no-deal Brexit, after UK prime minister Boris Johnson and EU Commission president Ursula von der Leyen failed to find a way through an impasse in trade negotiations over dinner on Wednesday. Equities are set to suffer the most, and the ability of UK companies hurt by Covid-19 to raise capital is now in serious doubt. Sam Kerr, Lewis McLellan and Mike Turner report. [ABSTRACT FROM AUTHOR]

This week in Keeping Tabs: how the European Central Bank could decarbonise its corporate bond book, how digital banks would suffer if the Bank of England goes negative, and what UK financial services policy could look like after Brexit. [ABSTRACT FROM AUTHOR]

The Bank of England said this week that it would loosen some of the rules around the maximum distributable amount for UK banks after Brexit, making it harder for them to trigger restrictions on their additional tier one (AT1) coupons and equity dividends. [ABSTRACT FROM AUTHOR]

An amendment to the UK Securitization law is set to come into effect at the end of 2020 when the Brexit transition period ends, clearing up confusion around the definition of sponsor in a move that could see the UK and the EU regimes diverge, said Mayor Brown in a notice released Thursday. [ABSTRACT FROM AUTHOR]

The Conservative Party's strong win in Thursday's general election is thrilling the UK's financial sector and business world on Friday. Shares in UK banks and house builders — the very domestic sectors seen as most at risk of a hard Brexit or weak UK economy — have soared by 10% and more, while bond yields, especially for banks, have tightened sharply. [ABSTRACT FROM AUTHOR]

The article reports on the emergence of political contangion in the European Union (EU) as the biggest risk of Brexit. According to Moody's Investors Service, Brexit could affect economic growth prospects of Great Britain. The rating agency has downgraded the country's investment rating following Brexit.

In his mansion house speech, Nadhim Zahawi confirmed the government's commitment to repealing EU law and tailoring financial regulation to UK markets [ABSTRACT FROM AUTHOR]

Managing IP rounds up developments related to the Unified Patent Court and Unitary Patent in July [ABSTRACT FROM AUTHOR]

As regulatory divergence starts to show its face, Alice Tchernookova looks at why rebuilding the EU-UK relationship in the post-Brexit paradigm is a never-ending conundrum [ABSTRACT FROM AUTHOR]

HM Treasury's proposed new funds regime will hopefully put the UK on the map for fund domiciliation and should fit into the country's wider financial services strategy [ABSTRACT FROM AUTHOR]

The article reports on the alternative business structures (ABS) in Great Britain that back to pre-Brexit levels, withdrawal of the country from the Euopean Union. Topics mentioned include the investments management, the securitization market in Great Britain, and the importance of banking industry management. Also mentioned was the Bank of England (BoE) funding scheme.

The UK's desire to remain competitive and financially open whilst staying true to its own regulatory priorities is not proving to be an easy task [ABSTRACT FROM AUTHOR]

Little hope that HMT consultation will lead to meaningful change as deadline approaches [ABSTRACT FROM AUTHOR]

In the event it leaves the EU without a comprehensive trade agreement, what are the options left to the UK to continue accessing the single market? [ABSTRACT FROM AUTHOR]

The UK is overhauling its securitization regime following its exit from the EU in a bid to become a more competitive destination to host special purpose vehicles. The move comes as EU authorities sign the latest amendment to securitization rules, splitting the two jurisdictions further apart and causing headaches for issuers wanting to sell into both markets. Tom Brown reports. [ABSTRACT FROM AUTHOR]

Talks between the EU and the UK over their are future trading look to be coming to a head before the latter reaches the end of its transition agreement with the former on December 31. If the two can strike a deal, UK capital markets will be the first to feel the positive effects. Deal makers are hopeful of a surge in activity should an agreement be found but border chaos between the UK and EU earlier this week provided a sobering warning. [ABSTRACT FROM AUTHOR]

Issuers are looking to tweak securitizations with UK entities in order to avoid them falling outside the EU's 'simple, transparent and standardised' (STS) criteria once the Brexit transition period ends on December 31. [ABSTRACT FROM AUTHOR]

As the UK approaches the end of its Brexit transition period there are growing expectations that a trade deal will be struck with the EU. It is hoped that that will contribute to the factors driving spreads tighter on UK covered bonds. [ABSTRACT FROM AUTHOR]

The article offers information on the impact of the Brexit on the financial service industry. Topics discussed include request of the banks of England to financial institutions to provide their comprehensive plans for the Brexit back; force enacted by Brexit on the firms in Great Britain out of the single market; and mutual recognition tabled by Great Britain regulators.

Lawyers are divided over the significance of suggestions that the EC plans to review the process. Some say it should be adjusted since it wasn't drafted with Brexit in mind [ABSTRACT FROM AUTHOR]

In a response to feedback from UK financial institutions, the Prudential Regulation Authority has said it will assess the appropriateness of any reduction in Pillar 2A (P2A) requirements so that the buffer provides a fair measure of the risks facing banks as the UK prepares to leave the EU. [ABSTRACT FROM AUTHOR]

The UK government and regulators are looking at ditching some of the specifics of EU financial regulation, encompassing banks, insurers and capital markets, as the country looks ahead to its post-Brexit future. [ABSTRACT FROM AUTHOR]

The Association for Financial Markets in Europe (Afme) has proposed changes to the EU's equivalence framework. While its report is framed as dealing with the framework in general, rather than specifically with the UK after Brexit, many of its proposals would make an equivalence agreement with the exiting state easier to reach if enacted. [ABSTRACT FROM AUTHOR]

A surprise agreement between the UK government and the European Union has led to renewed optimism for the country's capital markets. There is hope that an orderly Brexit, or even a long extension, will lead to an increase in investment from UK companies, particularly in the form of M&A. Investors are more than willing to finance these deals, write Sam Kerr, Jasper Cox and Mike Turner. [ABSTRACT FROM AUTHOR]

With only a week to go until the UK holds a referendum on its continued membership of the EU, the country's steel industry is in the midst of an existential crisis. [ABSTRACT FROM AUTHOR]

The article reports on the assertion by the European Commission (EC) in the notice to stakeholders that one of the consequences of Brexit is that the central-counterparties in Great Britain will be required to apply for the non-cleared margin rules for example in Article 11 of the European Markets Infrastructure Regulation (Emir). Topics covered include the explanation given by the Futures Industry Association (FIA) to refute the assertion, and impact of Brexit on British clearinghouses.

Hopes of a post-Brexit trade deal for the City shrivelled this week after several reports of a meeting between EU27 states indicated little chance of special Single Market access for financial services. [ABSTRACT FROM AUTHOR]

As London waits to see the Brexit deal that emerges for the UK's financial services industry, one small part of the sector has quietly received a big legal boost. [ABSTRACT FROM AUTHOR]

ABS buyers from the UK and continental Europe are operating as normal, with little concern for the Brexit cliff edge around the corner, according to panellists at the TSI Congress 2017 in Berlin. [ABSTRACT FROM AUTHOR]

The article reports on the participation of European investors in the assets offering by Great Britain. Topics mentioned include the effects of Brexit, the withdrawal of Great Britain from the European Union (EU), on the economic condition of the country, the condition of the sterling market, and the securitization market in the country.

The UK ABS market is keeping a close eye on the domestic economy as the Bank of England held rates firm at 25bp on Thursday and warned of a sluggish outlook for country. Sam Kerr reports. [ABSTRACT FROM AUTHOR]

The article discusses warnings issued by experts regarding disruptions to the progress of an integrated collateral ecosystem if Great Britain exits from the European Union (EU). A senior executive at U.S. custodian bank Bank of New York (BNY) Mellon stated at the International Securities Lending Association (ISLA) conference in Berlin, Germany, that a hard Brexit could impact collateral interoperability.

In the days following last week's Conservative Party conference, banks are increasingly facing up to a "hard Brexit", with no concessions to the needs of the financial services industry, regardless of the economic damage it might cause. [ABSTRACT FROM AUTHOR]