Banking and Finance Yearbook 2023
1. What are the key regulatory bodies overseeing the banking and finance sector in Poland, and what is their role in ensuring compliance with financial laws and regulations? The main supervisory body in Poland is the Polish Financial Supervisory Authority (‘Komisja Nadzoru Finansowego’ or ‘KNF’). KNF supervises the banking, capital, insurance and pension sectors, payment …
Banking and Finance Yearbook 2023
1. What are the key regulatory changes that have impacted the banking and finance legal market in the UAE in the past year? In 2023, the United Arab Emirates (UAE) banking and finance legal market has witnessed significant regulatory changes that now effectively require that banks secure loans with tangible assets (in addition to, or …
Banking and Finance Yearbook 2023
1. What are the key regulatory developments in Vietnam’s banking and finance sector over the past year, and how have they impacted the legal landscape? Key regulations and their impacts include: Circular No. 06/20231: promotes digital transformation in the banking sector; enhances access to bank credit for clients; and allows borrowers to repay loans in …
Banking and Finance Yearbook 2023
1. What are the key regulatory bodies and laws that govern the banking and finance industry in Luxembourg, and how do they impact financial institutions? The Luxembourg finance industry is mainly overseen by two regulatory bodies: the CSSF supervises the financial sector, while the CAA oversees the insurance sector. A merger control is currently being …
Banking and Finance Yearbook 2023
1. What are the key regulatory requirements and compliance challenges that law firms operating in Uruguay’s banking and finance sector currently face? Capital Markets Act No 18.627 enacts the framework for companies operating in the Uruguayan Capital Market (issuers, brokers, investment advisers, etc); Law No 15.322 regulates the same for banks and all relevant entities …
Banking and Finance Yearbook 2023
1. What are the key regulatory frameworks that govern the banking and finance sector in France? The key regulatory frameworks that govern the banking and finance sector in France are: European Union (EU) norms (directives transposed into French law or regulations which are directly applicable); French legal and regulatory framework, most of which is codified …
Banking and Finance Yearbook 2023
‘The best finance lawyers understand, whichever side they’re on, that there is a common goal’: Morrison Foerster finance partner Chris Kandel on collaborative practices, training the next generation of lawyers and novel developments in leveraged finance
I actually started practising law in California, way back in the dark ages. I moved over here for two years, and I’ve been here ever since. I never really intended to be a lawyer in London at all. My lifetime ambition was to be a criminal lawyer in Baltimore. My early career could be characterised …
Banking and Finance Yearbook 2023
1. What types of banking and finance law cases do you typically handle in Kuwait? Typical cases include debt recovery, fraud and financial crimes, contractual disputes, dispute resolution, and banking regulations. 2. How do banking and finance laws in Kuwait differ from those in other Gulf Cooperation Council (GCC) countries? All banks operating within Kuwait …
Banking and Finance Yearbook 2023
1. Could you provide an overview of the licensing and registration requirements imposed by the Monetary Authority of Singapore for foreign financial institutions seeking to establish a presence in Singapore? Foreign financial institutions looking to establish a presence in Singapore must consider a range of licensing and registration requirements based on their intended business activities. …
Banking and Finance Yearbook 2023
‘Our clients face a tsunami of regulatory change; just as it looks like
the wave is subsiding, it returns with a vengeance’ – Herbert Smith Freehills’
Jenny Stainsby on the pros and cons of a career in financial services regulation
Why did you want to become a lawyer and what drew you to the financial services regulatory side? As much as the law itself, it was the draw of international work that led me to the City and to Herbert Smith, as it was then. I had read languages at university and was excited about …