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Unlocking the UK banking market: to buy or not to buy
The UK’s banking sector is widely recognised as a global benchmark for financial sophistication, underpinned by a regulatory framework that is both robust and complex. The UK’s regulatory environment sets a high bar for entry. Whether through direct authorisation or acquisition, new entrants must demonstrate a deep understanding of legal, capital and operational risks, engage proactively with regulators and build business models that are resilient, compliant and adaptable to future change. The strategic choices made at this juncture will determine not only the success of individual firms but also shape the future of the UK banking sector.
10 January 2026Are claims worth over £3bn out of time under the FCA’s proposed motor finance redress scheme?
In its proposed rules for a consumer redress scheme, the Financial Conduct Authority has assumed that few claims will be time-barred on the basis that s 32(1)(b) Limitation Act 1980 (deliberate concealment) will be engaged. In this article, Matthew Parker KC considers the further question of when under that provision the consumer could with reasonable diligence have discovered the relevant facts and the factual issues to which it gives rise.
10 January 2026The face value requirement for deeds in s 1(2)(a) of the Law of Property (Miscellaneous Provisions) Act 1989
This article reproduces the note prepared by The City of London Law Society Financial Law Committee and dated 27 November 20251 on the face value requirement for deeds in s 1(2)(a) of the Law of Property (Miscellaneous Provisions) Act 1989.
10 January 2026Payback time: when lending agreements are silent on key terms
This article considers a number of important principles relating to the repayment and prepayment of loans and how they are applied when a loan agreement fails expressly to cover them.
22 November 2025Challenging the status quo: designated counsel and sponsor blacklists
In this article Michelle Gilmore-Parry explores the recent adoption of sponsor blacklists in European leveraged financings and discusses some key considerations for lenders.
22 November 2025An Englishman in New York: English law considerations in New York law credit agreements
English lawyers are sometimes required to consider how to weave points of English law and practice into New York law governed credit agreements to cater for the inclusion of an English credit party in what would otherwise be a US centric transaction. In this article the author looks at the several broad areas to consider when undertaking such an exercise, some of which may have material ramifications if not adequately addressed.
22 November 2025Legislating virtue: unfair relationships in the Supreme Court
This article considers three aspects of the Supreme Court’s decision on unfair relationships in Hopcraft : (i) the new approach to undisclosed commissions; (ii) the approach to the commercial tie; and (iii) the nature of the remedy. In the light of that analysis, some comments are offered on the nature of the jurisdiction.
22 November 2025Super senior Revolving Credit Facility: a legacy product?
Virtually all businesses need or want a line of credit to provide working capital to support daily operations and growth. Sponsors need to balance this operational need with the importance of moving quickly and execution certainty. As a result market practice has developed Revolving Credit Facility (RCF) Establishment provisions to mitigate this challenge by agreeing up-front mechanics for bringing in a working capital provider post-closing. The legal position is now well established for this approach. However, a commercial tension remains on the super senior RCF product itself so implementation variations and the unitranche/SSRCF structure that had become the norm are being tested.
22 November 2025Tokenised Islamic finance products: Shariah compliance meets digital innovation
Tokenisation, the representation of ownership interests and contractual rights as digital tokens recorded on distributed ledgers, is increasingly intersecting with Islamic finance. The opportunity is practical; broader market access, faster settlement, improved transparency and audability, and the potential to hard-wire compliance into product lifecycles. The challenge is equally clear. Structures must continue to satisfy foundational Shariah requirements prohibiting interest, excessive uncertainty and speculation, even as issuance, custody and secondary trading migrate to digital rails. Across the Gulf Cooperation Council (GCC) region, policymakers and market participants are moving beyond pilots to first-generation frameworks and transactions. Bahrain has adopted a stablecoin issuance and offering framework that embeds Shariah governance for Islamic-labelled products, while in the United Arab Emirates (UAE) the new CBUAE law (Federal Decree-Law No. (6) of 2025) provides a statutory pathway for "currency in digital form" as legal tender issued by the UAE Central Bank. This sts alongside the binding Higher Shariah Authority framework that adopts the Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI) standards for licensed Islamic Institutions. These measures signal a maturing regulatory environment for tokenised Islamic products.
For the purposes of this article, tokenised Islamic finance products refer to digital instruments structured to comply with the principles of Shariah and recorded on either permissionless public chains or permissioned networks operated by regulated institutions. They include security tokens, such as tokenised sukuk or equity interests; asset-backed tokens that evidence ownership in identifiable real assets or usufructs; and payment or utility tokens, including fiat-referenced stablecoins and bank deposit tokens used for settlement. Our primary focus is the GCC, in particular the UAE, Saudi Arabia and Bahrain. The analysis draws on standards and guidance issued by AAOIFI and the Islamic Financial Services Board. Where relevant, we refer to Federal Decree-Law No (6) of 2025 as “the new CBUAE law”.
Sustainable Finance: Newspeak
This article explores one of several issues potentially causing difficulties within the area known as “sustainable finance”. It focuses on the use of language and raises questions around the particular style of phrasing prevalent throughout the emerging taxonomies, sustainability reports, financial products and other materials which comprise the sustainable finance market. After briefly describing examples of these issues, this article advocates returning to language and grammar which is plain and simple.
22 November 2025
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