Banking law meaning

This timeline charts activity from 1 January 2024 onwards concerning the EU-facing legal and supervisory frameworks for anti-money laundering (AML), counter-terrorist financing (CTF) and counter‑proliferation financing (CPF) within the financial services sector. It traces both milestones and roll-out of the European AML, CTF and CPF rulebook. It also tracks cross-border initiatives in AML/CTF/CPF from the Financial Action Task Force (FATF), Basel Committee on Banking Supervision (BCBS), International Association of Insurance Supervisors (IAIS), IOSCO, the Egmont Group of Financial Intelligence Units (FIUs) and the Wolfsberg Group. For added detail on the EU AML/CTF regime, consult the Financial crime and sanctions (EU Law)—overview, including Practice Notes on AMLA—direct oversight of qualifying financial services firms, the EU Sixth Money Laundering Directive (MLD6) and the EU Recast Second Wire Transfer Regulation (Recast WTR2) on cryptoasset transfers... 2026 16 March 2026 — AMLA — AMLA starts a data collection exercise to test risk assessment models. AMLA has issued the reporting package for this data collection and testing exercise...

This timeline shows key developments relating to the UK securitisation regime from January 2024 onwards For earlier milestones, see EU and UK Securitisation Regulations—timeline [Archived]. On 1 November 2024, Assimilated Regulation (EU) 2017/2402 (the UK Securitisation Regulation) no longer applied in the UK, and new securitisation rules issued by the Financial Conduct Authority (FCA) and Prudential Regulation Authority (PRA) came into effect. For insight into the revised UK framework, see Practice Note: The UK securitisation regime. 2026 17 February 2026 — PRA/FCA CP2/26 – Reforms to securitisation requirements; CP26/6: Rules for reforming the UK Securitisation Framework; Applying the FSMA 2000 model of regulation to the Capital Requirements Regulation The PRA and FCA have opened consultations on changes to the UK securitisation framework. The FCA suggests simplifying reporting, disclosure and due diligence obligations. The PRA intends to lessen firms’ compliance load by making the regime less prescriptive and adjusting the capital treatment of loans under the Mortgage Guarantee...

Scope of this Checklist This Checklist sets out the points to consider when a company is proposing to grant a mortgage. It proceeds on the basis that an English or Welsh company will be granting a mortgage to a lender situated in England or Wales. In this Checklist: the company granting the mortgage is the 'mortgagor' the party to whom the mortgage is granted is the 'mortgagee' the document recording the mortgage is the 'security document' Preliminary questions before taking security by way of a mortgage Is a mortgage the right method of taking security? A mortgage transfers title to the asset, while preserving the mortgagor's equity of redemption so that, once sums due have been paid in full, title can be transferred back to the mortgagor (note that some mortgages, such as over land, are statutory, meaning there is no transfer of title). The use and possession of the asset will remain with...

This diagram clearly outlines the key steps for listing and admitting debt instruments for trading on the London Stock Exchange’s Main Market (LSE)...

Checklist for listing debt securities on the Irish Stock Exchange trading as Euronext Dublin (‘Euronext Dublin’) This diagram presupposes that the issuer, as follows: has listed debt securities in the past; and intends to list standard debt securities or a medium term note programme...

In this issue: Horizon scanning Directors Status and worker categories Cross-border, international and jurisdictional issues Recruitment Protected characteristics Prohibited Conduct (discrimination etc) Diversity and gender pay gap Maternity, parents and carers Financial services and banking: employment issues Data protection and employee information Bribery, modern slavery, tax evasion and fraud Employment Tribunals Scotland Ireland LexTalk®Employment: a Lexis®Nexis community Dates for your diary Trackers New Q&As Employment resources on Lexis+® Daily and weekly news alerts Horizon scanning BTC launches call for evidence on Employment Rights Bill The Business and Trade Committee (BTC) has opened its first request for evidence for a new inquiry into the Employment Rights Bill (ERB). The inquiry will collect written and oral submissions to steer the Bill’s subsequent passage through Parliament and to gauge whether it is set to meet its stated aims. Written evidence should be submitted by Friday...

In this issue: Horizon scanning Worker status and categories Immigration Pay Remuneration Taxation Diversity and the gender pay gap Maternity, parents and carers Whistleblowing Data protection and staff information Confidentiality, obligations and restrictions: enforcement Financial services and banking: employment matters Bribery, modern slavery, tax evasion and fraud Issues arising on termination Employment Tribunals Civil courts and alternative dispute resolution Dates for your diary Trackers Employment resources on Lexis+® LexTalk® Employment: a Lexis®Nexis community Daily and weekly news alerts Horizon scanning Updated Employment Rights Bill to be considered by the House of Lords The updated Employment Rights Bill (ERB), transmitted from the House of Commons to the House of Lords, was issued on 14 March 2025. Its second reading in the House of Lords is scheduled for 27 March 2025...

On 6 March 2025, the European Banking Authority (EBA) published a consultation paper setting out draft Regulatory Technical Standards (RTS). These draft RTS were issued following the European Commission’s (Commission) Call for Advice. They constitute a component of the European Union’s (EU) Anti-Money Laundering and Countering the Financing of Terrorism (AML/CTF) package, which was published in the Official Journal of the European Union on 19 June 2024...

Scope of this Practice Note This Practice Note addresses matters linked to technology used to help firms comply with their regulatory duties—often referred to as ‘regtech’. It reviews how the Financial Conduct Authority (FCA) and the Bank of England (BoE) (including the Prudential Regulation Authority (PRA)) engage with regtech, highlights industry activity, and records both the proposal and subsequent withdrawal of an FCA ‘Robo Handbook’. It examines these facets of what has come to be known as ‘regtech’: what is regtech? the FCA’s approach FCA TechSprints digital sandbox other regulator-side developments towards a Robo Handbook industry-side developments other initiatives What is regtech? Regtech is a broad label for the use of technology to help firms discharge regulatory requirements more efficiently and effectively than legacy systems allow—and, at times, for the use of technology by regulators to support their own supervisory responsibilities. The expression is used either in contrast to, or as a subset of, fintech....

Introduction to Musharaka—a profit and loss sharing instrument of Islamic finance At the heart of Islamic finance lies the maxim ‘no profit without risk’, ie no person should realise a gain unless they bear some degree of risk. This concept is most clearly shown through the application of profit and loss sharing instruments. For further detail on this principle, see Practice Note: Key principles of Islamic finance. This Practice Note examines Musharaka, an Islamic finance technique originally founded on profit and loss sharing and broadly analogous to a conventional partnership arrangement. In straightforward terms, a Musharaka is a partnership customarily entered into by two or more parties, not necessarily for a fixed term, and most commonly for the purpose of undertaking a business venture. In a typical Musharaka, each participant makes a capital contribution to the venture and profits and losses are shared between them. A comparable Islamic finance arrangement premised on the same profit and loss sharing rule is Mudaraba, a special form of partnership in which only...

What does this Practice Note cover? This Practice Note outlines the principal provisions that apply to both the 1992 ISDA Master Agreement (Multicurrency—Cross Border) (the 1992 Agreement) and the 2002 ISDA Master Agreement (the 2002 Agreement), together with their accompanying schedules. Unless indicated otherwise, any reference here to the master agreements (the ISDA master agreement) should be read as a reference to both the 1992 and 2002 Agreements. For a comparison of the two forms, see Practice Note: ISDA documentation—comparison of the 1992 and 2002 master agreements; for the broader ISDA documentation framework, see Practice Note: Derivatives—ISDA documentation framework. The key concepts underpinning the ISDA master agreement The ISDA master agreement rests on three core concepts, outlined briefly below: single agreement flawed asset close-out netting Single agreement Under ISDA’s documentation architecture, every derivative transaction between a pair of counterparties is captured under one overarching agreement (implemented through multiple layers of documentation), as provided in Section 1(c) of the...

This Agreement, dated [ • ] 20[ • ], is entered into between the following parties: Parties [ insert name of Borrower ], a company incorporated in England and Wales with registered number [ insert company number ], whose registered office is at [ insert address ] (the Borrower); and [ insert name of Lender ] of [ insert address ] (the Lender). Background (A) [ insert description of background to transaction ]. (B) The Lender has agreed to provide the Facility (as defined below) to the Borrower on the terms and conditions contained in this Agreement...

This Deed is made on [ insert day and month ] 20[ insert year ] Parties [ Insert name of Chargor ], being a company incorporated in England and Wales, with registered number [ insert company number ], and whose registered office is at [ insert address ] (the “ Chargor ”); and 1 [ Insert name of Security Agent ], acting as security agent and trustee for the Finance Parties pursuant to the terms and conditions set out in the [ Facilities Agreement OR Intercreditor Agreement OR Security Trust Deed ] (the “ Security Agent ”). Recitals: (A) The Finance Parties have consented to provide loan facilities subject to the terms and conditions set out in the Facilities Agreement (as defined below). (B) As a condition precedent to the loan facilities becoming available, the Chargor must execute this Deed for the purpose of granting security in favour of the Security Agent in relation to the Secured Obligations (as defined below)...

Notice of assignment [ To be printed on the headed notepaper of the assignor ] To: [ insert name and address of the relevant insurer ] Date: [ • ] Dear [ insert organisation name ], [ insert brief description of the relevant insurance policy ] We refer to the assignment of insurance policies (the ‘Assignment’), dated [ • ], entered into by us as assignor (the ‘Assignor’) in favour of [ insert name of lender ] (the ‘Lender’). We also refer to the insurance policy placed by us as the policy holder, with you as the insurer, concerning [ insert brief description of relevant policy and risks covered ], with policy number [ • ], together with any policy arranged to renew, substitute or replace that insurance (the ‘Insurance Policy’). Please take notice that, pursuant to the terms of the Assignment, we have assigned to the Lender, by way of security, all rights and claims that may from time to time...