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Cadwalader attorneys Alix Prentice and Assia Damianova have authored a Client & Friends memo, “The UK’S Prudential Regulation Authority Publishes Near Final Rules Affecting Capital Treatments for SRTs,” which discusses the UK Prudential Regulation Authority’s (“PRA”) recent rules impacting capital treatments for significant risk transfers (“SRTs”).
A recent High Court judgment in a case where NatWest won a claim against CMIS arising under derivative transactions raises several issues of law with practical implications for the structuring of complex finance deals.
Notably, the case looked at the distinction between a contact of guarantee and a contract of indemnity and also analysed the question of when a payment is “due".
Since leaving the European Union on Jan. 31, 2020, the UK has been in a position to choose whether or not to mirror future EU rules and regulations and when to adopt new domestic requirements.
You can read our most recent article exploring the framework’s potential implications for market participants here.
This Clients & Friends Memo discusses the FCA proposals for revisions to firm-facing securitisation rules, including clarifications of due diligence and risk retention obligations. Also discussed is a preview of an upcoming consultation on the definitions of public and private securitisations.
You may access the Memo here.
This Clients & Friends Memo considers the rules proposed by the UK’s Prudential Regulation Authority to replace retained EU law and technical standards governing securitisations. Our analysis also covers the rules’ changes to risk retention and disclosure technical standards, and notes contrasts with the recently published final form EU technical standards.
You may access the Memo here.
The UK and Europe have released a number of updated requirements for securitisations that, while not effecting material changes, are notable in their scope and number.
You can read our brief guide to these changes and their implementation schedules here.