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SRB consults on valuing banks in resolution

The Single Resolution Board (SRB) has launched a consultation on its ‘Expectations on Valuation Capabilities’ for banks, emphasising the critical role of valuations in the successful resolution of banks. The consultation outlines the SRB's expectations regarding three key aspects: valuation data index (VDI), data repositories for resolution (DRR) and valuation playbooks. Responses are sought by 2 July 2025.

ECB publishes opinion on proposed amendment to CSDR for shorter EU settlement cycle

The European Central Bank (ECB) has published an opinion regarding a proposal to amend the Central Securities Depositories Regulation (EU) 909/2014 (CSDR) to shorten the settlement cycle for certain transactions in transferable securities from two business days to one business day after the trade date (T+1), as requested by the Council of the EU and the European Parliament. The ECB supports this change, highlighting that fast, efficient, and reliable settlement is crucial for developing the Savings and Investments Union and improving post-trade process efficiency and resilience. The ECB's opinion emphasises that this reform would align the EU with other major global jurisdictions that have implemented similar changes.

ICO publishes findings of review on use of children’s data in financial services

The Information Commissioner's Office (ICO) has published findings from its review into children's data handling practices across financial services providers offering current accounts, savings accounts, trust accounts, ISAs and prepaid cards. The report summarises evidence of good practice; evidence of risks to data protection compliance; and instances where the ICO found that improvements may be necessary to data practices. In particular, the review identified areas requiring improvement in governance, transparency, use of information and individual rights.

EPC publishes guidelines for the EPC Directory Service

The European Payments Council (EPC) has published guidelines for the EPC Directory Service (EDS) via its Web Graphical User Interface (GUI) providing detailed instructions on its usage. Participants can access the EDS through both the Web GUI and through EDS application programming interfaces (API).

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Scotland—the process for applying for sequestration

Scotland—the process for applying for sequestrationSequestration in Scotland is the legal process by which an insolvent debtor’s estate is gathered in, realised and then distributed among their creditors by a trustee appointed for that purpose. The process requires that a formal award of

If planning permission imposes restrictions on a licensed premises opening hours, once operational can

If planning permission imposes restrictions on a licensed premises opening hours, once operational can the personal licence holder apply for a Temporary Events Notice (TEN) to open for longer hours than those permitted in the planning permission?To use any property for a licensable activity both

What is the difference between an appeal and a review?

What is the difference between an appeal and a review?What is an appeal?An appeal in insolvency proceedings is no different to an appeal in normal litigation. An appeal will be allowed only if the appeal court is satisfied that the decision of the lower court was 'wrong' or 'unjust because of a

Early leavers—preservation

Early leavers—preservationFORTHCOMING DEVELOPMENT: Section 10 of the Finance Act 2022 will increase the normal minimum pension age (NMPA) from 55 to 57 on 6 April 2028 (save for members of the firefighters, police and armed forces public service pension schemes).The Finance Act 2022 will also give