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New 'Equator Principles' will extend environmental assessment to more project finance arrangements
A new version of the 'Equator Principles', which establish an environmental and social risk management framework for project financiers, will cover a wider range of funding arrangements.

 

PF2 'still in need of a pipeline of projects' following Priority Schools announcement, says expert
Only 46 of the 216 schools due for rebuilding or repair under the Government's Priority School Building Programme (PSBP) will be financed through the new 'PF2' private finance programme, the Education Funding Agency (EFA) has announced.

 

"Balance sheet" test for insolvency must take account of wider commercial context, says Supreme Court
Courts must look beyond the assets and liabilities used to prepare a company's statutory accounts when deciding whether or not a company is balance sheet insolvent, the Supreme Court has ruled.

 

Economists see signs of growth for financial services sector
Business lending, life insurance and the asset management industry are set to grow this year, according to a report by an influential group of economists.

 

Drax coal-to-biomass project will be first backed by UK Guarantee, says Treasury
The conversion of a coal-fired power station to biomass will be the first project to be backed by a UK Guarantee, the Treasury has announced.

 

CJEU: Ireland "breached obligations" by failing to guarantee workers' pension entitlements
The Irish Government could face costs "into the billions" after the EU's highest court ruled that the country had breached its obligation to guarantee the pension entitlements of workers in the event of employer insolvency.

 

UK Government begins legal challenge to European financial transaction tax
The UK Government is challenging a proposed financial transaction tax (FTT) between 11 EU member states, saying that the plans do not respect the rights of countries not participating in the regime.

 

New financial regulators set out how they will respond to their own failures
The new financial regulations have published their respective policies on "regulatory failure", including details of the factors they will take into account when deciding whether to carry out an investigation into possible failings.

 

International task force proposes new high level principles for financial benchmarks
The international task force chaired by the UK's chief financial regulator has published draft "principles" intended to "strengthen the reliability and integrity of benchmarks used in the financial markets".

 

European Parliament approves bonus cap and stronger capital requirements for banks
Stricter capital requirements and more stringent supervision will apply to European banks from the start of next year after the European Parliament voted through a "comprehensive" programme of banking reform.