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A boost for UK financial services

The U.K. Financial Services and Markets Act 2023

European Union, United Kingdom, Banking, Capital Markets, Compliance Management, Insolvency & Restructuring, Public, Trade & Customs, A&O Shearman, Corporate governance, Fintech, Due diligence, Carbon neutrality, Cryptocurrency, Anti-money laundering, Financial Conduct Authority (UK), European Commission, HM Treasury (UK), House of Lords, Bank of England, European Securities and Markets Authority, Prudential Regulation Authority (UK), MiFID, Solvency II Directive (2009/138/EU), Financial Services and Markets Act 2000 (UK), Banking Act 2009 (UK), UK Supreme Court
UK proposals for cryptoasset regulation

The U.K. government has published its much-anticipated proposals for regulating the cryptoasset industry. These proposals, currently in the form of a consultation, will see many (but not all) cryptoasset-related activities being brought within the regulatory perimeter for financial services in the U.K.

European Union, United Kingdom, Banking, Capital Markets, Insolvency & Restructuring, IT & Data Protection, White Collar Crime, A&O Shearman, Blockchain, Crowdfunding, Bitcoin, Due diligence, Cryptocurrency, Financial Services Compensation Scheme, Distributed ledger, ESG, Cybersecurity, Anti-money laundering, Central counterparties, Decentralised finance, Financial Conduct Authority (UK), House of Lords, FTX, MiFID, Financial Services and Markets Act 2000 (UK), Markets in Cryptoassets Regulation (EU)
Mortgage Offered by Subsidiary Under Insolvency to Secure Parent Company’s Debt- a Preferential Transaction: Supreme Court

In yet another landmark decision in relation to the corporate insolvency resolution process (CIRP) of Jaypee Infratech Limited (JIL), the Supreme Court in Anuj Jain, Interim Resolution Professional for Jaypee Infratech Limited vs. Axis Bank Limited Etc. Etc. (Civil Appeal Nos. 8512-8527 of 2019) dated 26.02.2020, has laid down the law on two aspects: 

➢  the essential elements of a preferential transaction under Section 43 of the Insolvency and Bankruptcy Code 2016 (Code); and 

India, Banking, Insolvency & Restructuring, Real Estate, Khaitan & Co, Supreme Court of India