News & Insights

Court of Appeal confirms bank’s discretion on determining “fair market value” in a GMRA

by Leela|6 March 2019|Industry News

In its recent decision in LBI EHF v Raiffeisen Bank International AG [2018],[1]the Court of Appeal confirmed that a non-defaulting party enjoys wide discretion under the default valuation provisions in the 2000 edition Global Master Repurchase Agreement (the “GMRA”) when it comes to determining the “fair market value” of securities, especially in a market that […]

ESMA recognises three UK Clearing Houses in a No Deal Brexit

by Caroline Sheldon|1 March 2019|Industry News

Given the continuing uncertainty surrounding the United Kingdom’s (the “UK”) departure from the European Union (“EU”), regulators and institutions on both sides of the channel have taken a range of initiatives in order to counteract the most dramatic consequences of the UK’s departure from the EU without a withdrawal agreement and implementation period (“no deal […]

Cleveland & Co advise Foster Denovo on acquisition of Orchard Wealth Cultivation

by Leela|1 March 2019|Our News

We are so happy to share in the news that Foster Denovo, the global award winning financial advisory firm, has recently completed its first successful acquisition of the year. We are especially proud to have been a part of this strategic investment, advising the business on acquiring Orchard Wealth Cultivation, a leading financial and planning […]

Brexit updates: Italy, Luxembourg & Ireland

by Leela|27 February 2019|Our Thinking

Following on from our previous newsletter on recent Brexit updates, in this newsletter we continue our analysis of the new wave of national legislation relating to financial services in Luxembourg, Italy and Ireland. Please click the image below for more information.

Brexit updates

by Leela|14 February 2019|Our Thinking

With less than two months to go until the UK leaves the EU, there have been a lot of recent Brexit related developments in the financial services industry. In our newsletter we look at the Temporary Permissions Regime, the Financial Services Contracts Regime Regulations, the draft version of FSMA (amendment EU Exit) Regulations 2019 as […]

ESMA and FCA sign memorandum in case of no deal Brexit

by Leela|1 February 2019|Industry News

In light of the ongoing uncertainty surrounding the United Kingdom (“UK”) departure from the European Union (“EU”), regulators and institutions on both sides of the channel have taken a range of initiatives in order to counteract the most dramatic consequences of the UK departure from the EU without a withdrawal agreement and implementation period […]

UK: C&Co win ABS of the year at the Modern Law Awards 2019!

by Leela|1 February 2019|Awards

We are delighted and very proud to announce that we have won the category for ABS of the Year at the Modern Law Awards 2019! What an honour to be recognised amongst such tough competition in a category that truly embraces our business — committed to innovation and driven by our strategic goals! The Eclipse […]

A bitesized update on the Senior Managers and Certification Regime

by Leela|29 January 2019|Industry News

The Senior Managers and Certification Regime (“SM&CR”) is part of the UK regulators’ drive to improve culture, governance and accountability within financial services firms. It aims to deter misconduct by improving individual accountability and awareness of conduct issues across firms. Banks and PRA-designated investment firms have been subject to the SM&CR since March 2016. On […]

Suspicious activity reports inspection granted by the High Court

by Emma Cleveland|17 January 2019|Industry News

In Lonsdale v National Westminster Bank plc (October 2018), the court granted the claimant, Mr Lonsdale, the opportunity to inspect the suspicious activity reports (“SARs”) submitted by his bank, National Westminster Bank PLC (“NatWest”) to the National Crime Agency (the “NCA”) relating to his accounts held with the Bank. THE FACTS Mr Lonsdale held seven accounts […]

Excluding misrepresentation and entire agreement clauses

by Emma Cleveland|10 January 2019|Industry News

The high court recently considered the interpretation of an entire agreement clause and excluding claims for misrepresentation in the recent judgement of Fawaz Al-Hasawi (“Mr Al-Hawawi”) and Nottingham Forest Football Club (the “Club”) & Others (2018). An entire agreement clause is a standard term used in contracts to clarify and limit what has been agreed to particular contractual documents […]