What this talk will cover -
What is going on!
What are trade assets?
Who needs finance?
Who can or wants to finance them?
Who else could finance them?
How to become involved in trade finance assets?
Legal issues...more
7/15/2024
/ Buyers ,
Financial Institutions ,
Financial Regulatory Reform ,
Financial Services Industry ,
Foreign Financial Assets ,
Investment ,
Investors ,
Regulatory Requirements ,
Required Documentation ,
Securitization ,
Sellers
London, UK – Partner Geoffrey Wynne at Sullivan & Worcester (Sullivan) has assisted the International Trade & Forfaiting Association (ITFA) in relation to an important update to its Digital Negotiable Instruments (DNI)...more
Foreword by Geoffrey Wynne -
Much has been written – and will be written – about the need to digitise trade transactions. Less use of paper and greater speed and efficiency are some of the reasons for this. The...more
On 12 September 2023, the European Commission proposed a new EU Regulation on combatting late payments in commercial transactions which will revise and replace EU Directive 2011/7/EU (the Late Payment Directive). The...more
9/28/2023
/ Creditors ,
Debtors ,
Enforcement Actions ,
EU ,
EU Directive ,
European Commission ,
Late Payments ,
Legislative Agendas ,
Proposed Regulation ,
Regulatory Agenda ,
Small and Medium-Sized Enterprises (SMEs)
Electronic Trade Documents Act -
The passing of the Electronic Trade Documents Act 2023 (the “Act”) often touted as “game-changing” and “revolutionary” is the UK’s alternative to adopting the UNCITRAL Model Law on Electronic...more
7/14/2023
/ Commodities ,
Documentation ,
Electronic Filing ,
Electronic Transaction ,
Financial Transactions ,
Free Trade Agreements ,
International Trade ,
Legislative Agendas ,
New Legislation ,
Proposed Legislation ,
UK ,
UNCITRAL
London, UK - The Electronic Trade Documents Act (ETDA) will shortly receive Royal Assent and will come into effect two months later.
The culmination of years of work by many people and industry bodies, once it takes...more
7/13/2023
/ Commodities ,
Documentation ,
Electronic Filing ,
Electronic Transaction ,
Financial Institutions ,
Financial Services Industry ,
Financial Transactions ,
FinTech ,
International Trade ,
Legislative Agendas ,
New Legislation ,
Proposed Legislation ,
Trade Agreements ,
UK
At the latest Trade & Export Finance webinar, partner Geoffrey Wynne delved into the topic of Irrevocable/Independent Payment Undertaking commonly referred to as an IPU. An IPU is a payment obligation usually given by the...more
From June 15, 2022, important changes to the Office of Financial Sanctions Implementation’s (OFSI) enforcement powers come into force. These were highlighted in our 2022 Compliance and Regulatory Update....more
The end of March has welcomed Spring, and this year it marks a new era for the financial markets, particularly for loans and financial products which would usually use Sterling LIBOR as the benchmark for calculation of...more
The Act -
The Corporate Insolvency and Governance Act 2020[1] (‘the Act’) received Royal Assent on 25 June 2020. The overarching purpose of the Act is to protect as many businesses as possible from falling into...more
8/21/2020
/ Coronavirus/COVID-19 ,
Corporate Governance ,
Corporate Insolvency and Governance (CIG) Act 2020 ,
Filing Requirements ,
Financial Services and Markets Act ,
Financial Services Industry ,
General Meetings ,
Insolvency ,
Moratorium ,
Securities Regulation ,
Supply Contracts
The emergence of COVID-19 (the Coronavirus) at the end of 2019 has had an unprecedented impact on the global economic system. This alert focuses on the effect the Coronavirus pandemic is likely to have on small and medium...more
On 6 April 2020, the International Chamber of Commerce (ICC) published an urgent memorandum addressed to governments and Central Banks, urging them to take the necessary steps towards the immediate transition from mandating...more
On 7 April 2020, the International Chamber of Commerce ("ICC") published a paper titled "Guidance paper on the impact of COVID-19 on trade finance transactions issued subject to ICC rules."...more
Early in September ITFA launched its new Unfunded Master Risk Participation Agreement (MRPA) and associated user guidelines for use by its members. Later this month it has also arranged for Sullivan to issue a CRR compliant...more
This week ITFA published its revised guidelines on CRR-compliant insurance policies. The guidelines were first published in 2016 to assist banks with navigating the complex rules for credit risk mitigation that apply to...more
The Prudential Regulation Authority (PRA) has published a Policy Statement (PS 8/19) and updated Supervisory Statement (17/13 “Credit Risk Mitigation”, which will come into force on 13 September 2019) in relation to the use...more
On August 6, 2018 President Trump issued an executive order re-imposing certain sanctions that were lifted under the 2016 Joint Comprehensive Plan of Action ('JCPOA'). These include the prohibition of...more
In a world of ever increasing regulation, are there areas in trade finance documentation where parties can show they are addressing the concerns and taking steps to protect their position against a review by Regulators of...more
From Tuesday 4th to Thursday 6th September 2018, ITFA, the International Trade and Forfaiting Association, a worldwide trade association for companies, financial institutions insurers and intermediaries engaged in trade and...more
On 16 February 2018, the Prudential Regulation Authority (“PRA”) published a consultation paper containing a draft Supervisory Statement to clarify the PRA’s expectations regarding the eligibility of guarantees as unfunded...more
Following a meeting of the Basel committee in March this year, the Chairman Stefan Ingves, announced that the committee has made further progress towards the finalization of the Basel III accord are stricter capital rules and...more
7/28/2017
/ Anti-Money Laundering ,
Banking Regulators ,
Banking Sector ,
Basel Committee on Banking Supervision (BCBS) ,
Basel III ,
Basel IV ,
Breach of Financial Sanctions ,
Capital Requirements Regulation (CRR) ,
EU ,
European Commission ,
Financial Institutions ,
FinTech ,
MiFID II ,
Non-Bank Lenders ,
Supply Chain ,
TLAC ,
UCITS ,
UK Brexit