InVest — February 2014: general developments
The Bank of England (BoE) has published a policy statement relating to the exercise of the Financial Policy Committee’s (FPC’s) powers to supplement capital requirements for the purposes of financial stability. The FPC has direction powers over sectoral capital requirements and the UK government proposes to make the FPC responsible for setting the countercyclical capital buffer.
The European Central Bank (ECB) has published an opinion on the European Commission’s proposed regulation on indices used as benchmarks in financial instruments and financial contracts.
The European Parliament has updated its procedure file on the review of the European System of Financial Supervision (ESFS). Parliament will vote on the final report at its 10–13 March 2014 plenary session…
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Briefings from Addleshaw Goddard
The Law Commission is conducting a limited consultation on the first available draft clauses from its proposed Insurance Contracts Bill.
InCredit March 2014 — mortgages: Mortgage Credit Directive text published in OJEU; FCA publishes findings to MCOB survey; and more
The text of the Mortgage Credit Directive (MCD) (2014/17/EU) has been published in the Official Journal of the EU.
Analysis from The Lawyer
Could Slater & Gordon achieve its stated aim of becoming a top consumer brand by acquiring Pannone?
The past five years have not been easy for Addleshaw Goddard. The firm’s revenue fell 7 per cent from £173.1m to £161.9m between 2008/09 and 2010/11 and despite finances looking up in 2011/12, when Addleshaws reported a 30 per cent increase in net profit, it has shown no notable compound growth in turnover since 2007/08.