LMA News H2 2015 (published July 2015)
Articles include: View from the market: a cross section of industry practitioners answer topical questions about the state of the loan market; Ireland, Spain, Italy and Portugal - loan market commentaries: country updates and outlook for the future
LMA June Monthly Update
For the latest legal & regulatory news, regulatory submissions, briefing notes and upcoming LMA events.
Changes to the SRA's approach to Continuing Professional Development
The Solicitors Regulation Authority (SRA) has made changes to its approach to Continuing Professional Development (CPD) and has introduced a new approach to assessing continuing competence. The new approach removes the current requirement that solicitors must undertake 16 hours of CPD annually and will require the solicitor to liaise with its employer to determine the learning and development they need to ensure they deliver a competent legal service. The new approach will be implemented for all solicitors from 1 November 2016. However, solicitors can choose to move to the new approach from 1 April 2015.
The changes mean that the LMA's training courses and seminars are no longer accredited by the SRA. However, the LMA will continue to provide confirmation of attendance at all of our events and upon request by the attendee or employer.
Further information on Continuing Professional Development (CPD) for the year 2014/15 is available on the SRA website.
LMA Guidance in relation to sanctions
Given the abundance of recent sanctions legislation that lenders are currently being required to comply with, it is important that members are aware not only of what those requirements are, but also their impact on loan transactions. In order to assist its members with understanding their compliance obligations generally and the impact of EU and US sanctions on loan transactions, the LMA has produced five types of guidance notes to date.