UK:
The Pre-Emption Group Publishes Monitoring Report, European Capital Markets Update
05 December 2017
Jones Day
To print this article, all you need is to be registered or login on Mondaq.com.
The Pre-Emption Group has released a monitoring report which looks at the
implementation of the Statement of Principles and the template
resolutions regarding disapplication published by the Group in May
2016. The Statement of Principles provides a framework for early
and effective dialogue, and the monitoring report suggests that the
principles generally have been followed. However, the report also
has highlighted examples of poor consultation and disclosure.
In order to assist companies, the Group has published an
Appendix of Best Practice in Engagement and Disclosure. In summary,
the Appendix encourages specific and direct consultation on the
issue of whether pre-emption authority is to be utilised and
reiterates that any engagement should follow both the spirit and
letter of the Statement of Principles.
In light of the implementation of the Prospectus Regulation, the
Group has stated that the use of the Statement of Principles will
be monitored on an ongoing basis.
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
POPULAR ARTICLES ON: Finance and Banking from UK
Asset Recovery Comparative Guide
Bird & Bird
Asset Recovery Comparative Guide for the jurisdiction of UK, check out our comparative guides section to compare across multiple countries
Q&A: Safe Harbours For VASPs - Part 1
Ogier
Asian Legal Business was keen to hear from our experts on how this will allow virtual asset services providers (VASPs) to anchor in theses jurisdictions, despite increased regulatory burdens...
Q&A: Safe Harbours For VASPs - Part 2
Ogier
In 2023, Jersey and the British Virgin Islands passed legislation indicating they were welcoming virtual asset service providers, joining the likes of the Cayman Islands...
CRD VI And Its Impact On Lending Into Europe
Cadwalader, Wickersham & Taft LLP
December 2023 saw the publication by the EU of the near-final version of its ‘Banking Package' that makes significant changes to the Capital Requirements Directive known as ‘CRD VI'.
Financial Promotion Exemptions – UK Government U-Turn
Shepherd and Wedderburn LLP
In response to criticism, the UK Government announced in the 2024 Spring Budget that recent changes to the financial promotion exemptions eligibility criteria would be partially reversed from 27 March 2024.