Welcome to this month's issue of the Heavyweight.
A few points to note this month:
- The OFT are busy ranging across the wide spectrum of banking practice with their studies on the one hand into investment banking and on the other, into the provision of high-cost credit.
- Proposals to introduce identity cards are to be scrapped by the introduction of the Identity Documents Bill.
There has been a lot of EU activity:
- The EU consultation on stand-alone legislation dealing with potential risks arising from short selling is underway and responses are due by 10 July.
- Similarly, the EC is consulting on clearing and risk mitigation of OTC derivatives and is now in the process of finalising its draft legislative proposals. Responses are due, again, on 10 July.
- An important EC Green Paper has been published on corporate governance in financial institutions and remuneration policies that raises questions such as whether bank directors should owe a duty of care to depositors and other stakeholders.
I hope you find this issue of the Heavyweight useful.
The Heavyweight: Comprehensive coverage of this month's banking and insolvency law
This article was written for Law-Now, CMS Cameron McKenna's free online information service. To register for Law-Now, please go to www.law-now.com/law-now/mondaq
Law-Now information is for general purposes and guidance only. The information and opinions expressed in all Law-Now articles are not necessarily comprehensive and do not purport to give professional or legal advice. All Law-Now information relates to circumstances prevailing at the date of its original publication and may not have been updated to reflect subsequent developments.
The original publication date for this article was 29/06/2010.
