Publication
Blue Bonds: Making a splash in the Capital Markets
In 2018, the Republic of Seychelles launched the first-ever “blue bond”, with the support of the World Bank Group and the Global Environment Facility.
New DB funding code gets provisional September 2023 operational date
United Kingdom | Publication | June 2022
The Pensions Regulator has confirmed that it expects the long-awaited DB funding code to be operational from September 2023. The new code will be forward-looking, affecting schemes with valuation effective dates on or after its commencement date.
In its corporate plan for 2022 – 2024, the Regulator explains that it plans to launch a second consultation on the code in autumn 2022. However, this is on the basis that the DWP first holds its own consultation on draft funding and investment regulations in spring 2022.
It is also possible that the Regulator will undertake a regulatory initiative focusing on scheme management of risk and resulting covenant strength before the code becomes operational.
The Regulator cited the need to “develop the right shape” for the code to explain the previous delays to the second consultation – the timings in the corporate plan are themselves subject to change and it remains to be seen whether there will be any further lengthening of the timetable.
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Marine Money Week New York 2025
We are delighted to be participating in Marine Money Week New York 2025. As one of the landmark events for the global shipping finance community, and with the global shipping and maritime industry at such a pivotal juncture, we look forward to catching up with clients and contacts to continue discussions around navigating the current challenges and opportunities.
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The parallel imposition requirement in exclusive distribution systems: key takeaways from the CJEU’s ruling in Beevers Kaas
On 8 May 2025, the Court of Justice of the European Union (the CJEU) delivered its ruling in case C-581/23 (the Ruling), providing guidance on one of the conditions for an exclusive distribution agreement to benefit from the block exemption under Article 4(b)(i) of the 2010 Vertical Block Exemption Regulation (the VBER)1, notably the so-called ‘parallel imposition requirement’.
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