Legal & Regulatory
At the LMA, we continue to lobby regulators and government bodies on behalf of our members in an effort to ensure that any new or revised regulation does not have an adverse impact on the syndicated loan market.
Basel III and the related EU Capital Requirements Directive are likely to impact directly on loan documentation and the lending environment generally, and it is equally possible that legislation being introduced across the globe, particularly in the US, could have direct or indirect consequences for our local market.
There are also likely to be significant changes in accounting principles that will have a material impact on the product, and at the LMA, we will be tracking these developments as they evolve. We will equally monitor other issues, such as changes in European insolvency legislation and tax regulations.
LMA responds to ECB public consultation on developing a euro unsecured overnight interest rate
LMA responds to Federal Reserve System Request for Information relating to the production of rates
LMA responds to Bank of England White Paper: SONIA as the RFR and approaches to adoption
LMA submission to BEIS regarding proposed Business Contract Terms (Assignment of Receivables) Regulations 2017
LMA responds to EU call for feedback on the Development of Secondary Markets for Non-Performing Loans
Bank of England and Financial Conduct Authority announce next phase of sterling LIBOR transition work
The Bank of England (BoE) and Financial Conduct Authority (FCA) have published a press release announcing that, from January 2018, the Sterling Overnight Index Average (SONIA) working group will have a new mandate to catalyse broad-based transition to SONIA within the sterling bond, loan and derivative markets over the next four years.
The use of English governing law and jurisdiction clauses in the wake of the UK's Brexit decision - where are we now?
This briefing by Linklaters provides an overview of the issues for the ongoing and future use of English law and jurisdiction clauses by commercial parties in light of progression of the Brexit negotiations to "Phase Two" discussions.
This video interview with Clare Dawson, Chief Executive of the LMA, considers the potential discontinuation of LIBOR.