Expect the unexpected: The year ahead for the Financial Institutions Sector 1 Expect the unexpected: The year ahead for the Financial Institutions Sector 1 2 Hogan Lovells Expect the unexpected: The year ahead for the Financial Institutions Sector January 2017 3 Introduction 4 Rachel Kent and Emily Reid At a glance: Calendar of key events 6 Year ahead: Key features 8 FinTech: The future is now 10 PSD2: Getting ahead of the competition?

Brexit

The potential impact of Brexit on securitization transactions

Impact of the referendum

Following the vote in the UK referendum on 23 June 2016 to leave the EU, there is some uncertainty as to how this will impact transactions.

PARLIB01/ZZZPARP/1030762.3 Hogan Lovells French Legal and Regulatory Update – May 2016 The Paris office of Hogan Lovells is pleased to provide this English language edition of our monthly e-newsletter, which offers a legal and regulatory update covering France and Europe for May 2016. Please note that French legal concepts are translated into English for information only and not as legal advice. The concepts expressed in English may not exactly reflect or correspond to similar concepts existing under the laws of the jurisdictions of the readers.

Last month, bankrupt company RadioShack settled with a coalition of seventeen attorneys general to destroy most of the company’s customer data in its files. The agreement was part of a Bankruptcy Court-approved $26.2 million sale of RadioShack’s assets.

Summary of miscellaneous French draft legislation
• Draft law granting amnesty for acts committed in the course of social movements and trade unions' protesting activities – Filed on
November 28, 2012 – Adopted in first reading by the Senate on February 27, 2013 – A vote for a referral to commission was adopted
during the first session on May 16, 2013.
• Draft law relating to social and solidarity-based economy, n°805 – filed on July 24, 2013 – adopted in first reading by the Senate on
November 7, 2013.

Two guidance notes of relevance to the insurance industry were issued recently.

Law n°2011-331 dated 28 March 2011 (OJ of 29 March 2011) relating to modernising the legal professions includes the creation of a secure Internet portal aiming at relaxing the formalities related to insolvency. This national portal will allow the sending and reception of legal proceedings documents, including statements of claim.

Introduction

The Great Brexit Debate dentons.com Introduction The UK is now counting down to the 23 June 2016 referendum on whether to stay in or leave the European Union. Dentons summarises the background to this momentous choice, and takes a deeper look at some of the legal issues involved in some key areas that would be impacted by a vote to leave the EU.

Christchurch based company Cryptopia Limited (in liquidation) (Cryptopia) operated a cryptocurrency exchange. Account holders were able to deposit cryptocurrencies into the exchange, and carry out trades with each other.

In January 2019 the exchange was hacked and cryptocurrencies valued at approximately NZD30m were stolen. Cryptopia closed after the hack, re-opened for a short period, and was then placed into insolvent liquidation in May 2019. David Ruscoe and Russell Moore of Grant Thornton New Zealand were appointed liquidators.