LMA Hub

Legal & Regulatory

Regulatory changes often have unintended consequences, so we have a vital role in mitigating any possible negative impacts on the loan product, whether generally, or in relation to specific sectors such as leveraged, real estate or commodity finance.

Whilst we have made significant progress in addressing the adverse effects of regulation for our members, undoubtedly, changes in the regulatory and general legislative landscape will continue, not least arising from the regulatory response to Covid-19, as well as potential opportunities to bring about positive change.

Recent Submissions

11 April 2025LMA responds to IOSCO consultation on Artificial Intelligence in Capital Markets

31 March 2025LMA responds to ESMA consultation on the revision of the disclosure framework for private securitisation

26 March 2025LMA responds to European Commission call for evidence on amendments to the Taxonomy Delegated Acts

12 March 2025LMA responds to ESMA consultation on draft RTS for open-ended loan originating AIFs

07 March 2025The LMA responds to the Commission’s call for evidence on the creation of a Savings and Investments Union.

27 February 2025The LMA submitted its response to the FSB Consultation on Leverage Risks in NBFIs

18 February 2025LMA Position Paper Sustainability Omnibus Simplification Proposal (the Omnibus)

06 February 2025LMA responds to HM Treasury consultation on UK Green Taxonomy

02 September 2024LMA responds to FSB's Evaluation of the Effects of the G20 Financial Regulatory Reforms on Securitisation consultation report

07 August 2024LMA responds to ESMA’s Call for Evidence on the review of the UCITS Eligible Assets Directive

Briefings

LexisPSL Banking & Finance Quarterly Briefing

In this briefing, the LexisPSL Banking and Finance team looks at the case of Macdonald Hotels Ltd v Bank of Scotland Plc [2025] EWHC 32 (Comm), in which the Commercial Court ruled on a claim brought by Macdonald Hotels Ltd (MHL) against Bank of Scotland plc (BoS). The crux of the claim was that BoS had forced MHL to dispose of three of its hotels in breach of implied terms of good faith in the facility agreement and similar express terms in a shareholder’s agreement.

Developments in Ukraine: The Latest Global Sanctions and Export Controls

This briefing by Clifford Chance examines the most recent worldwide sanctions and export controls imposed on Russian nationals and organisations by the US, EU, UK, Poland, Japan, Singapore, Australia, and Ukraine. It also considers the responsive measures taken by Russia. The sanctions and responsive measures discussed are those as of 4pm GMT, January 13, 2025.

LIBOR transition court case - English High Court implies term for reasonable alternative rate to three month USD LIBOR in preference shares

This briefing by Slaughter and May explores the October 2024 case of Standard Chartered Plc v Guaranty Nominees Limited and others. In this case, the English High Court considered the consequences for a series of preference shares of the cessation of USD LIBOR – in particular, whether a reasonable alternative rate can be implied, or whether the shares needed to be redeemed. The court held in favour of Standard Chartered, ruling that there was an implied term that dividends should be calculated using a reasonable alternative rate.

Click Read more to access a copy of Slaughter and May’s briefing paper (who acted for Standard Chartered).

CRDVI: New licensing requirements for cross-border lending into Europe by A&O Shearman

This briefing by A&O Shearman summarises the new regime, its implications for firms providing cross-border lending into the EU and possible options for continuing lending into the EU once the Directive has been implemented.