Europe: Finance and Banking

How tax transparency rules affect lending to non-Irish limited partnerships with Irish partners. This forms part of the August 2026 Edition of FUNDed

On 5 May 2026, the Central Bank of Ireland (“CBI”) finalised its comprehensive updates and enhancements to Ireland’s regulatory framework for alternative investment funds (“AIFs”), including removing...

Proskauer fund finance partner Mei Mei Wong and Pemberton's Cassandra Fahy explore the evolution of net asset value-based fund financing, examining how this increasingly sophisticated tool has transformed from a niche product into an established component of the private equity landscape. Their discussion reveals how NAV financing serves diverse purposes across fund lifecycles, from portfolio value creation to LP liquidity solutions, while addressing the critical considerations around valuation, leverage, an

The London Stock Exchange has published revised Alternative Investment Market Rules designed to make it easier for companies to join AIM, facilitate acquisitions, and streamline fundraising processes. Key changes include new express market routes for international issuers, removal of working capital statement requirements, increased thresholds for substantial transactions, and greater flexibility in corporate governance disclosure.

The Financial Conduct Authority has launched a comprehensive review of the Disclosure Guidance and Transparency Rules to assess their value for issuers and investors, while exploring reforms to enhance UK public market attractiveness. This update examines recent regulatory developments including AIM Rules consultations, accounts filing reforms, and new FRC guidance on internal controls and materiality. Additionally, the government has accepted recommendations to mandate digital share registers for publicly

Moneybox's recent £45m employee share sale through the London Stock Exchange's PISCES platform marks a significant milestone in the evolution of private company liquidity.

Malta's financial services sector has evolved into a sophisticated ecosystem, but what truly distinguishes it from other jurisdictions? The Malta Financial Services Authority's strategic approach to regulation...

A proposed bill of law seeks to modernize Luxembourg's securitization framework by expanding financing options beyond traditional instruments, introducing cross-compartment investment mechanisms, and extending active portfolio management capabilities to include equity positions. The reforms aim to enhance legal certainty around asset ring-fencing in insolvency scenarios while aligning the regime with contemporary market practices, particularly for Islamic finance structures and multi-compartment vehicles.

Luxembourg is modernizing its securitisation framework through two key legislative reforms: the Draft Securitisation Bill and the Deferred Capital Law. These amendments expand financing options for securitisation vehicles, permit active management of broader asset classes in private transactions, and allow deferred payment of share capital for SARLs, potentially reducing incorporation timelines from months to days.

Ireland launches its ambitious 2026-2030 financial services strategy, outlining 31 key actions and 36 performance indicators designed to strengthen the country's position as a global international financial services centre. The strategy focuses on maintaining competitiveness, scaling capacity, leveraging digital transformation, and developing stronger links with domestic businesses across aviation finance, insurance, banking, and capital markets sectors.

Kazakhstan's currency control framework permits cross-border financing in tenge without structural barriers, relying on registration and reporting rather than regulatory approval.

The European Commission has proposed significant amendments to the EU's securitisation framework, aiming to remove barriers in the market while maintaining investor protections. With the Council and Parliament having finalized their positions, trilogue negotiations are now underway under Ireland's EU Presidency, testing the balance between market liberalization and regulatory safeguards.