Publication | April 8, 2016
The new bail-in rules that generally took effect in January 2016 are the European Union’s response to the 2008 global financial crisis and the “too big to fail” regime. The EU Bank Recovery and Resolution Directive (2014/59/EU) requires that EU member states implement a similar legal framework whereby failing financial institutions will not look to public stakeholders for a “bail-out.” European regulatory authorities can force these failing institutions to cancel or severely dilute shareholder equity or to cancel, write-down or convert unsecured liabilities to equity. Such regulatory action is referred to as a “bail-in.”
On May 27, 2020, the Financial Conduct Authority (FCA) published Market Watch Issue 63 in which the FCA set out their expectations of market conduct in the context of increased capital raising events and alternative working arrangements due to the coronavirus.
The energy transition is firmly underway. While global demand for energy continues to rise, increasing pressure from governments, investors, and consumers to support the decarbonisation of the industry has spearheaded radical change.
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