Welcome to the weekly Banking & Finance highlights from the Lexis®PSL Banking & Finance team for the week ending 8 January 2015. This week’s edition of Banking & Finance highlights includes (1) LMA launches private placement template documents, (2) EC modifications to the frontloading requirement paves the way for EU clearing mandate, (3) ISDA publishes updated OTC derivatives compliance calendar, (4) useful information from the Lexis®PSL Corporate, Corporate Crime, Financial Services, Property, Restructuring & Insolvency and Tax teams and (5) a full list of cases reported by Lexis®PSL Banking & Finance this week
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Loan Market Association (LMA)—latest news on documentationThis Practice Note contains a summary of the latest news from the Loan Market Association (LMA) on LMA documentation and related topics. It is updated and reviewed monthly and covers news since January 2016. For LMA news prior to that date
Scotland—the process for applying for sequestrationSequestration in Scotland is the legal process by which an insolvent debtor’s estate is gathered in, realised and then distributed among their creditors by a trustee appointed for that purpose. The process requires that a formal award of
Early leavers—preservationFORTHCOMING DEVELOPMENT: Section 10 of the Finance Act 2022 will increase the normal minimum pension age (NMPA) from 55 to 57 on 6 April 2028 (save for members of the firefighters, police and armed forces public service pension schemes).The Finance Act 2022 will also give
Late payment penalties—inheritance taxWhile interest often accrues on overdue tax, the late payment of certain taxes may also attract a penalty. For information on the interest accruing on overdue tax, see Practice Notes: IHT—payment deadlines on death—Interest on IHT and Interest on late paid
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