The European Commission has set out, in the form of a Communication, its approach to modernising current EU legislation on deposit guarantee schemes, which provide consumers with a safety net so that, if a bank fails, they will be able to recover at least €20,000 of their deposits. The Commission has concluded that while the current rules are sufficient for the time being, a number of self-regulatory steps could be taken to improve how schemes work cross-border within the EU. A more fundamental overhaul is considered premature at this stage, while any decision about further convergence of national rules and practices is tied to broader discussions on crisis management.
Archive for November, 2006
Financial services: Commission proposes self-regulatory improvements to deposit guarantee schemes
November 30, 2006Law on-line
November 29, 2006BAILII
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Companies Act 2006
November 29, 2006Court files
November 29, 2006Public disclosure – developments on change to rules
On 2 October 2006, the Civil Procedure Rules were changed to allow all members of the public access to claim forms and judgments in all cases before the court. However, the Law Society obtained an interim declaration to suspend the effect of the change (which was thought to be retrospective) pending a judicial review. The matter was settled on 28 November, and the position now is that for documents filed before 2 October, the old rule of no public access applies unless ordered by the court. The interim declaration will remain in force until 18 December when a consent order and new statutory instrument will be issued by the Department for Constitutional Affairs.
Administrators of Tenancy Deposit Protection Schemes Named
November 23, 2006The Department for Communities and Local Government has issued a press release in relation to the companies appointed to run the rent deposit schemes from the 6 April 2007.
PWC Podcast on the Companies Act
November 23, 2006This podcast was hosted by Philip Wright, chairman of PwC’s NED programme for top-tier companies. He talks about the impact of the Companies Act, which has now received Royal Assent, with three PwC experts.
