New ABI guidance
By Alasdair Steele
The Association of British Insurers (ABI) has issued guidance on lock-up agreements, in particular in response to the concerns of its members over the extent to which lock-ups are waived during the lock-up periods. The implications are generally that: the ABI expects greater observance of lock-up periods, with waivers to be exceptional and well justified; waivers should only be granted towards the end of the lock-up period; and there should be clear disclosure of both the period of the lock-in and the circumstances in which it may be waived…
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