Stabilisation meaning

What is a captive insurance company? A captive insurer is a fully owned subsidiary set up to manage and mitigate the risks of its parent and related entities. When the parent cannot secure appropriate cover from the traditional market for certain risks Premiums paid into the captive can generate savings for the parent or related parties Ability to place cover with reinsurers that the parent cannot access directly Addresses specific risks not available in the wider insurance market Funds the deductibles on policies purchased by the parent Investment income available to offset losses Improved control over claims Cover tailored to your needs Reduced reliance on commercial insurance Stabilisation of pricing Key takeaways A captive insurer is a wholly owned subsidiary that mitigates risk for its parent and related entities Benefits can include lower insurance costs, potential tax advantages, underwriting earnings, and tighter control over its cover Captive insurance companies...

INSOL Europe/LexisR&I joint project on implementation of EU Directive 2019/1023—Bulgaria Lexis R&I and INSOL Europe are gathering articles from INSOL Europe’s membership and Country Coordinators, explaining how EU Member States have put into practice Directive (EU) 2019/1023 of the European Parliament and of the Council of 20 June 2019 on preventive restructuring frameworks, on discharge of debt and disqualifications, and on measures designed to enhance the efficiency of procedures relating to restructuring, insolvency and discharge of debt, which also amends Directive (EU) 2017/1132 (the EU Directive). A summary table of the outcomes prepared by INSOL Europe in association with Lexis R&I can be accessed here: INSOL Europe/Lexis+® UK Joint Project on EU Harmonisation Directive 2019/1023: consolidated table. As a general rule, you should seek advice from local lawyers in the relevant jurisdiction to confirm the measures currently in effect and the implications of any particular circumstances or nuances of your case. Question 1: When did/will the new restructuring law come into force? What is/are the name...

EU financial services developments ESMA publishes supervisory briefing on algorithmic trading under MiFID II ESMA has released a supervisory briefing aimed at ensuring uniform oversight of algorithmic trading throughout the EU under the Recast Markets in Financial Instruments Directive (2014/65/EU) (MiFID II). It equips National Competent Authorities (NCAs) with actionable tools and clearer expectations for monitoring firms that deploy algorithmic trading, concentrating on areas of divergent practice such as pre-trade controls, governance structures, testing regimes and the outsourcing of algorithmic trading systems. The paper also considers new technological trends and sets out points to consider for the application of AI. Although not legally binding, the briefing supplements existing obligations and helps NCAs pursue a harmonised supervisory approach overall. Source: ESMA issues a supervisory briefing on algorithmic trading ESMA proposes amendments to buy-back programme rules following Listing Act changes ESMA has issued a report suggesting updates to Commission Delegated Regulation 2016/1052 concerning buy-back programmes and stabilisation measures (RTS), reflecting the amendments to the Market Abuse Regulation (MAR)...

Practice Note In this Practice Note, the term ‘bank’ denotes a UK institution authorised under Part 4A of the Financial Services and Markets Act 2000 (FSMA 2000) to undertake the regulated activity of accepting deposits (as defined by FSMA 2000, s 22, read with Schedule 2 and any order under FSMA 2000, s 22), and any mention of ‘bank’ below also covers a resolution company. In the wake of Silicon Valley Bank’s failure, the government consulted on additional reforms and, in May 2025, passed the Bank Resolution (Recapitalisation) Act 2025 (see: LNB News 19/07/2024 30). These changes are not confined to smaller banks and, from 16 July 2025, apply to banks of any size, provided the other entry conditions are met (see Practice Note: Bank resolution reforms under the Bank Resolution (Recapitalisation) Act 2025). Part 1 of the Banking Act 2009 (BA 2009) likewise extends to building societies and investment firms, with modifications specified in BA 2009. Central counterparties, meanwhile, are now subject to their own special resolution regime...

STOP PRESS: The EU Listing Act appeared in the Official Journal on 14 November 2024, introducing amendments to the EU Market Abuse Regulation (EU MAR). The majority of the Act’s measures, including the EU MAR changes, are due to apply from July 2026, conditional on the Commission adopting level 2 delegated acts. Certain EU MAR updates on market soundings and managers’ transactions, however, took effect on 4 December 2024 and are flagged in the relevant sections of this Practice Note. On 7 May 2025, ESMA issued technical advice to the Commission covering, among other matters, EU MAR. On 8 April 2026, the Commission released the final texts of two delegated acts: one addressing the disclosure of inside information and another dealing with, among other aspects, indicators of market manipulation. These delegated acts will be published in the Official Journal of the EU and will enter into force provided the European Parliament or the Council of the EU do not object. The scrutiny period typically runs for two months after...

Background to Financial Services and Markets Act 2023 The Financial Services and Markets Act 2023 (FSMA 2023) delivers significant reforms to the UK’s regulatory architecture for financial services. It cancels retained/assimilated EU-derived rules in this field and empowers HM Treasury, alongside the financial services regulators, to substitute them with measures tailored for UK markets, building on the UK’s established regulatory model (see Practice Note: The Financial Services and Markets Act 2023—essentials). The accompanying Explanatory Notes explain that FSMA 2023 preserves the UK’s status as a competitive marketplace with strong regulatory standards by, among other steps, giving the Bank of England (BoE) new instruments to lessen risks arising from the failure of critical financial institutions. FSMA 2023 obtained Royal Assent on 2 June 2023, yet different provisions commence on varying dates, as indicated in section 86 and in subsequent commencement statutory instruments (SIs). Parts of the special resolution regime (SRR) for central counterparties (CCPs) began to apply from 29 August 2023, although a commencement SI is still awaited for the...

ARCHIVED: This Precedent has been archived and is no longer maintained [ ISSUER ] Offering (the ‘Offering’) of [ ● ] global depositary receipts (the ‘GDRs’), with each GDR evidencing an interest in [ ● ] ordinary share[s] of nominal value [ ● ] (the ‘Shares’). 1 Parties involved in the offering Issuer ( ILC ) Custodian ( Custodian ) Clearstream Banking, société anonyme ( Clearstream, Luxembourg ) Issuer’s Counsel ( IC ) Manager’s Counsel ( MC ) Euroclear BankS.A./N.V. as operator of the Euroclear System ( Euroclear ) Issuer ( Company ) Selling Shareholder (Selling Shareholder) Manager 1 ‘ [ ● ] ’ and ‘ Stabilisation Manager ’ Manager 2 ‘ [ ● ] ’ and ‘ Settlement Agent ’ London Stock Exchange ( LSE ) Manager 1 and 2 ( Managers ) Depository ( Depository ) The Depository Trust Company ( DTC ) Financial Conduct Authority ( FCA )...