Publications - Banking and Finance
Startups and debt (I): Overdependence on equity rounds. Reasons and setbacks
Searching for additional financing routes, in the form of debt rather than equity, could benefit startup founders by curtailing their dilution in equity rounds and also have other advantages for the companies themselves. This would contribute to…
COVID-19: Implemented regulatory solutions for the protection of the Portuguese economy
On March 26, 2020, the Portuguese Government approved Decree-Law nº 10-J/2020 (“Moratorium Regime”), putting into practice exceptional measures for protecting families, companies and welfare institutions, in relation to…
New legislation that transfers to the Portuguese Securities Market Committee (CMVM) the powers of prudential supervision of investment management companies was published
It was published on 24 September 2019 Decree-Law no 144/2019 which transfers from the Bank of Portugal to the Securities Market Committee (CMVM) the powers of prudential supervision of investment fund management companies and credit securitisation…
Contingency measures have been adopted by the Portuguese Council of Ministers in the event of a no-deal Brexit
As already adopted by other EU member states, on 12 September 2019 contingency measures were approved by the Portuguese Council of Ministers and should be applied to credit institutions, investment companies and management entities with head office…
The outcome of the IRPH litigation against Spanish banks could have European-wide consequences
On September 10, the Advocate General (AG) issued his opinion on a preliminary ruling to be rendered by the Court of Justice of the European Union (CJEU) regarding a lawsuit in Spain over the validity, under the European directive on unfair terms in…
The new Securitisation Law implements the general framework for securitisation and the specific framework for STS (simple, transparent and standardised) securitisation
On the 28th of August 2019 the law implementing Regulation (EU) 2017/2402 of the European Parliament and of the Council, of 12 December 2017 (“Regulation”), laying down a general framework for securitisation and creating a specific…
Libra: the legal and regulatory aspects will be decisive for the new currency
The Libra Association, founded by Facebook and 27 other organizations, intends to promote the construction of a global financial infrastructure and issue from it a new cryptocurrency called Libra, enabling operators to carry out payment transactions…
Enactment of the Simplified Legal Regime for the Assignment of Credit Portfolios
In the context of the Capitalizar (Capitalize) Program – which has already implemented several changes to Portugal’s legal system – the new simplified legal regime for assignment of credit portfolios was enacted on 28…
These are Spain's measures to prepare for a no-deal Brexit in the fields of employment, judicial cooperation, financial services and customs
The Spanish government has adopted a range of contingency measures to prepare for the event of the United Kingdom leaving the European Union without an agreement on March 30, 2019. They are temporary measures approved through Royal Decree-Law 5/2019…
Approval of the appropriation regime applicable to commercial pledges
On 26 June, the regime applicable to the appropriation of the pledged asset under a commercial pledge agreement was approved by Decree-Law no. 75/2017, of 26 June 2017.
Brexit: A tale of two (financial) Cities. Madrid’s bid to replace The City
The Brexit referendum was preceded by verbal clashes with neither camp being meticulous about spelling out the truth. With the result in, the practical consequences remain unclear and the ground is ripe for more half-truths and wild bets.
The potential impact of Brexit from a financial and regulatory standpoint
The single market in financial services has been at the core of the United Kingdom (UK) and European Union (EU) financial services industry for many years. The news that the UK will leave the EU will no doubt have an impact on the financial players…