MAR 8, 2018 ISSUE 9/2018 FINANCIAL REGULATORY DEVELOPMENTS FOCUS Proxima Nova A ExCn 35pt In this week’s newsletter, we provide a snapshot of the principal U.S., European and global financial regulatory developments of interest to banks, investment firms, broker-dealers, market infrastructure providers, asset managers and corporates. Click here if you wish to access our Financial Regulatory Developments website. IN THIS ISSUE AML/CTF, Sanctions and Insider Trading ..............................................................................................................

With miserable Christmas trading figures exacerbating an already challenging climate for UK retailers, a growing number of companies are turning to company voluntary arrangements ("CVAs") as a possible source of respite. Most commonly used by retailers and other UK companies to impose improved lease terms on their landlords, CVAs look set to come back into fashion.

Market Backdrop

PRA updates remuneration policy statement for PRA category 1 and 2 firm • PRA publishes CP24/17: Solvency II: internal models - modelling of the matching adjustment • PRA publishes CP23/17: Financial management and planning by insurers • Wholesale insurance brokers market study launched by the FCA • The FCA's future approach to consumers • PRA publishes CP22/17: Solvency II: Supervisory approval for the volatility adjustment • FCA publishes PS17/24: Handbook changes to reflect the new regulatory framework for insurance-linked securities - feedback to CP16/34 and CP17/3 and near-final rules

FINANCIAL INSTITUTIONS ADVISORY & FINANCIAL REGULATORY GROUP WEEKLY NEWSLETTER DECEMBER 6, 2017 Financial Regulatory Developments Focus In this week’s newsletter, we provide a snapshot of the principal US, European and global financial regulatory developments of interest to banks, investment firms, broker-dealers, market infrastructure providers, asset managers and corporates. Click here if you wish to access our Financial Regulatory Developments website.

FINANCIAL INSTITUTIONS ADVISORY & FINANCIAL REGULATORY GROUP NEWSLETTER DECEMBER 21, 2017 Financial Regulatory Developments Focus In this week’s newsletter, we provide a snapshot of the principal US, European and global financial regulatory developments of interest to banks, investment firms, broker-dealers, market infrastructure providers, asset managers and corporates. Click here if you wish to access our Financial Regulatory Developments website.

FINANCIAL INSTITUTIONS ADVISORY & FINANCIAL REGULATORY GROUP NEWSLETTER JANUARY 10, 2018 ISSUE 1/2018 Financial Regulatory Developments Focus In this week’s newsletter, we provide a snapshot of the principal U.S., European and global financial regulatory developments of interest to banks, investment firms, broker-dealers, market infrastructure providers, asset managers and corporates. Click here if you wish to access our Financial Regulatory Developments website.

The ACT Borrower's Guide to the LMA's Investment Grade Agreements

Produced by

The ACT Borrower's Guide to the LMA's Investment Grade Agreements

produced by Slaughter and May 5th Edition 1 September 2017

This guide has been produced for the ACT by Slaughter and May to provide assistance to corporate treasurers reviewing draft facility agreements based on the LMA documentation for investment grade borrowers.

/ The ACT Borrower's Guide

The ACT Borrower's Guide /

Introduction1

European Union

ADVISORY | DISPUTES | TRANSACTIONS Make insolvency great again February 2017 One of the great criticisms of the new President of the United States of America is that his companies filed for bankruptcy four times when he was a business mogul. In truth Donald Trump utilised various provisions of Chapter 11 of the US Bankruptcy Code to restructure his businesses. In an effort to encourage a similar level of entrepreneurial spirit, a mere 14 days after his election the EU Commission unveiled plans to adopt a pan-European regime which closely mirrors much of the US’s Chapter 11.

If 2016 ended with more questions than answers as to how Brexit would take shape, 2017 began with at least a little more clarity.