Latest by Lauren Murphy

Blog

Insurance special purpose vehicles - the wheels of change in motion

Published on 01 June 2020. By Lauren Murphy, Associate

Gray tint 1

On 22 May 2020 the PRA published updates to its approach to the authorisation and supervision of insurance special purpose vehicles (ISPVs).

Read more
Blog

New 100% government-backed loan scheme for small and medium-sized businesses

Published on 04 May 2020. By Sukh Ahark, Partner and Lauren Murphy, Associate

Green tint 1

The new 'Bounce Back Loans' scheme (the "Scheme") launches today. The Scheme provides small and medium-sized businesses with loans from between £2,000 and £50,000, such cash to be accessible within days.

Read more
Blog

Future Fund

Published on 24 April 2020. By Sukh Ahark, Partner and Lauren Murphy, Associate

Green tint 4

The Chancellor has announced the launch of a £500m co-investment fund for start-ups adversely impacted by the coronavirus. The 'Future Fund' operates through the government matching private sector money with state-backed loans that can convert into equity stakes in the start-up.

Read more
Blog

Future Fund

Published on 24 April 2020. By Sukh Ahark, Partner and Lauren Murphy, Associate

Purple tint 2

The Chancellor has announced the launch of a £500m co-investment fund for start-ups adversely impacted by the coronavirus. The 'Future Fund' operates through the government matching private sector money with state-backed loans that can convert into equity stakes in the start-up.

Read more
Blog

Regulator urges lenders to carefully consider their responses to borrower's potential breaches of covenants owing to COVID-19

Published on 20 April 2020. By Sukh Ahark, Partner and Lauren Murphy, Associate

Purple tint

The PRA stressed in a 'Dear CEO Letter' that lenders should be flexible with regards to the breaches of covenants that might occur because of COVID-19. The PRA stated that breaches may arise owing to temporary changes to a borrowers' reported earnings, suspension of business or changes to the audit report attached to financial statements.

Read more
Blog

The new Coronavirus Large Business Interruption Loan Scheme

Published on 09 April 2020. By Sukh Ahark, Partner and Lauren Murphy, Associate

Green tint 1

The Coronavirus Large Business Interruption Loan Scheme (CLBILS) is designed to allow larger businesses to access emergency funding and to give banks the confidence to lend to many more businesses which are impacted by coronavirus.

Read more
Blog

Coronavirus Business Interruption Loan Scheme – attempts to address inaccessibility

Published on 08 April 2020. By Sukh Ahark, Partner and Lauren Murphy, Associate

Green tint 1

The UK Government has implemented changes to the Coronavirus Business Interruption Loan Scheme in recognition of barriers faced by SMEs attempting to access the scheme.

Read more
Blog

New FCA signposting travel insurance rules

Published on 27 March 2020. By Lauren Murphy, Associate

Green tint 2

Earlier this month the FCA published a policy statement detailing new requirements aimed at helping consumers with pre-existing medical conditions (PEMCs) obtain travel insurance. The new requirements demonstrate the FCA's continuing focus on improving the treatment and protection of vulnerable consumers accessing insurance and other forms of financial services.

Read more
Blog

FCA sees SM&CR as catalyst and opportunity to transform culture in financial services

Published on 09 January 2020. By Lauren Murphy, Associate and Jonathan Charwat, Senior Associate

Green tint 4

Its recent 'Dear CEO' letter, the FCA sets out its expectations on firms and Senior Managers in tackling non-financial misconduct. For some time the FCA has emphasised the importance of culture at firms causing financial conduct issues. In this recent letter, the FCA makes clear that non-financial misconduct will be a key focus for its supervision of firms and senior managers.

Read more