Microsites

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

14 June 2023LMA letter on EBA final report on draft ITS on NPL transaction data templates

28 April 2023LMA responds to Finance Denmark consultation regarding a recommendation for a fallback rate for CIBOR

12 April 2023LMA letter on proposed Corporate Sustainability Due Diligence Directive (CS3D)

31 March 2023LMA responds to PRA Consultation Paper CP16/22 on the implementation of the Basel 3.1 standards

29 March 2023LMA responds to the call for evidence on the scope of the EU Benchmarks Regulation

14 March 2023LMA responds to the EU Commission proposed directive on harmonising certain aspects of insolvency law

27 February 2023LMA responds to Transition Plan Taskforce (TPT) consultation survey on their proposed Disclosure Framework and Implementation Guidance

18 January 2023LMA responds to FCA Consultation Paper on Sustainability Disclosure Requirements (SDR) and investment labels

12 January 2023LMA comment letter on EBA final report on NPL transaction data templates

05 January 2023LMA responds to FCA consultation on 'synthetic' US dollar LIBOR

Briefings

IOSCO Consultation Report - Proposed Good Practices on Leveraged Loans and CLOs

We have participated in a dialogue with IOSCO concerning their work on the above. IOSCO has now issued for consultation twelve good practices to guide market participants when operating in the LL and CLO markets, to encourage the development of these markets and the behaviour of market participants in ways that support IOSCO’s objectives. IOSCO is looking for input on the consultation paper by December 15, 2023.

We welcome this consultation and will be working with members to inform our response.

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 2pm BST, 12 September 2023.

Reorg H1 2023 European Sustainability-Linked Loans Wrap

In this briefing, Reorg provide a reflection on the H1 2023 European leveraged sustainability-linked loan market, highlighting changes in issuance levels and identifying a number of trends in their documentation.

What do lenders need to know about the Building Safety Act 2022?

This briefing by Osborne Clarke LLP considers the impact of the Building Safety Act 2022 on financing for tall buildings with a residential element (in England only). It explores some of the issues that lenders will need to consider in structuring, investigating and documenting the debt financing of such buildings.