Banking eBulletin September 2010

Banking eBulletin

In this issue:

•	The Bribery Act - Heads Up!
•	'Wild' Western Capitalism to be Tamed?
•	Court Torpedoes FC Regulations Lifeboat for Floating Charge

Once again, welcome to our latest Banking e-Bulletin. This edition highlights the new Bribery Act, which has potential implications for all businesses operating in the UK. It was passed by the previous government and comes into force in April 2011.

We also deal with other proposed regulatory changes affecting banks and other financial institutions which are being proposed by the new coalition government.

Finally, for those interested in taking or enforcing security we look at a recent case on the Financial Collateral Regulations. Security which falls into their ambit does not need to be registered at Companies House and can have advantages in an insolvency situation.

This is our first edition since our recent merger with SM Reed & Co. We are delighted to welcome Stephen Reed and Ralph Crane to our firm. They have extensive experience in business acquisitions and disposals, particularly in the healthcare sector, and secured lending generally. They work with a number of major banks, so their practice complements our existing banking and finance practice.

As ever we would be happy to cover issues of interest to you in future editions and we always welcome feedback.

Kind regards

Gwen Godfrey
Partner and Head of Banking and Finance Group
01293 605551
gwen.godfrey@dmhstallard.com

Find out more about our Banking and Finance Group

The Bribery Act - Heads Up!

For all businesses operating in the UK, the Bribery Act is of serious concern, particularly to senior management, and even the most scrupulous. Banks will be considering the implications for themselves, but they should also ensure that their...

'Wild' Western Capitalism to be Tamed?

In the last 6 months since the FSA published its Business Plan for 2010/11, the UK has seen its first formal coalition government since the Second World War, there are proposed changes to the financial regulatory infrastructure, the new Basel III...

Court Torpedoes FC Regulations Lifeboat for Floating Charge

In the recent judgment of Gray and others v G-T-P Group Limited, the High Court considered whether a charge fell within the scope of the Financial Collateral (No.2) Regulations 2003 (“the Regulations”) and would not therefore be void...