High level guides to key legal concepts for in-house lawyers

This overview is a guide to the Banking & Finance content within the High-level guides to key legal concepts for in-house lawyers subtopic, with links to appropriate materials. It is written for banking and finance lawyers working in banks and other financial institutions.

High-level guides

The series of 'high level guides' Practice Notes are intended to give in-house lawyers working on banking and finance transactions an overview of a particular legal issue or concept and why it could be relevant for them in performing their in-house role. They describe the key legal principles and/or legislation in each case, then highlight practical examples of when related issues can arise when working on banking and finance transactions in-house. The Practice Notes each provide practical tips for dealing with these issues if they arise along with, where relevant, information about where an in-house lawyer can go within Lexis®PSL to find out more information and keep up-to-date with development in relation to that particular concept.

The following Practice Notes are included in the series:

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Introduction to the UK AML/CTF legal and regulatory framework for financial services

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Latest Banking & Finance News

FCA’s 2024 consumer focus still has firms guessing

Law360, London: The Financial Conduct Authority (FCA) shifted further toward results-based financial regulation in 2024 by requiring regulated companies to comply better with its Consumer Duty, forcing managers to make individual interpretations of the regime's often ambiguous requirements where more specific rules are missing.

ESMA publishes feedback on proposed securitisation disclosure template review

The European Securities and Markets Authority (ESMA) has published a Feedback Statement summarising the responses to its consultation paper on securitisation disclosure templates under Article 7 of the Securitisation Regulation (SECR). Stakeholders acknowledged the need for improvements in the transparency regime but recommended postponing the template review due to concerns about its timing in relation to a broader SECR review. ESMA plans to work closely with the European Commission to explore interim adjustments to the technical standards, particularly regarding disclosures for private securitisations, before the review of the Level 1 text.

Guidance on the information sharing measures in the Economic Crime and Corporate Transparency Act 2023 has been updated

An update to the guidance on information sharing measures outlined in the Economic Crime and Corporate Transparency Act 2023 has been updated on the government’s website. The measures, which are voluntary, allow regulated firms to share customer information for the purposes of preventing, investigating and detecting economic crime and have been put in place to provide greater clarity and comfort to regulated firms to share relevant customer information.

High Court confirms broad government discretion in UK national security reviews

Competition analysis: In this judgment, the High Court issued its first ever ruling on a challenge to an unwinding order imposed by the UK government under the National Security and Investment Act 2021 (NSIA 2021). In a clear victory for the government, the court confirmed the broad discretion of the Secretary of State to determine the appropriate remedy for resolving national security concerns arising from a problematic transaction, up to and including forced divestment of the acquirer’s shareholding in a qualifying entity, as well confirming that the overall process followed by the Government in such cases is fair and proportionate. The judgment is also notable for the insights that it provides into the process followed by Government officials and ministers for in-depth reviews under the NSIA 2021, with the level of detail going well beyond what has been disclosed in the Government’s own guidance to date. Written by Becket McGrath, partner at Euclid Law Ltd.

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