Financial Institutions M&A sector trends: Specialty finance/marketplace Lending — H1 2020 and outlook for H2 2020 Panacea or plague—-what will the true impact of accreditation for government-backed COVID-19 loan schemes...more
Recent regulatory development focussing on banking and finance. Includes updates relating to COVID-19 regulatory response, CRR, and more....more
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 27 April 2020, the UK Prudential Regulation Authority (“PRA”) published a statement (the “statement”) on whether the guarantees provided by the UK Government (through the British Business Bank) under the Coronavirus...more
The UK government has announced a number of measures aimed at reducing the financial impact of the COVID-19 outbreak on UK business. A summary of the support available and the ways in which it can be accessed is set out...more
Further to the Chancellor’s announcement on April 3, 2020, of the introduction of the Coronavirus Large Business Interruption Loan Scheme (CLBILS), the CLBILS that is aimed at larger U.K. businesses is now live and the...more
On 15 April 2020, the UK Financial Conduct Authority (“FCA”) published a “Dear CEO” letter sent to the leaders of UK banks on lending to small and medium-sized enterprises (“SMEs”) during the COVID-19 pandemic....more
On April 3, 2020, the Chancellor announced the introduction of the Coronavirus Large Business Interruption Loan Scheme (CLBILS) to be made available to UK businesses with an annual turnover of between £45 million and £500...more
When the UK Government introduced its package of temporary measures to support businesses during the Covid-19 outbreak, its Coronavirus Business Interruption Loan Scheme (the "CBILS"), which aims to support the continued...more
Introduction - As previously highlighted on 17 March 2020, HM Treasury moved decisively to provide support for UK businesses struggling because of the impact of COVID-19 through: (i) the Covid Corporate Financing Facility...more
The UK Government has announced an unprecedented raft of measures designed to support UK workers and businesses through the COVID-19 pandemic. The UK government’s economic response to the crisis has been substantial and...more
The FCA is facing a difficult balancing act. As the conduct regulator, and the prudential regulator to many firms, it is imperative that firms which the FCA authorise maintain high standards. ...more
While the UK Government, for the most part, has been praised for taking quick, decisive action to limit the impact of the COVID 19 economic shock for consumers and some UK companies, the measures announced to date excluded a...more
The Coronavirus Business Interruption Loan Scheme (CBILS) was launched by the UK government on 23 March 2020 to help businesses to keep operating during the COVID-19 pandemic....more
In our client alert titled "Government-backed initiatives to support businesses impacted by the Coronavirus," we gave an overview of various measures announced by the UK Government to help UK business through the economic...more