We would be delighted if you could join us for the next seminars in our programme, “Bank regulation” on 8 October 2009 and “Demergers – creating value” on 9 October.
Both seminars will take place at our offices, One Silk Street, London, EC2Y 8HQ.
For further details and to register your interest in these events, please visit the seminar page at http://www.linklaters.com/News/Seminars/Pages/Index.aspx.
Bank regulation
Thursday 8 October 2009
8.30am-9.30am (registration from 8.00am)
The global financial crisis has made bank regulation a front-page concern. Debates about it continued throughout the credit boom, but they looked academic at a time when well-capitalised financial institutions usually fulfilled whatever requirements governments set. The worldwide collapse in confidence and the current economic outlook have changed that environment dramatically.
In the past year, many institutions have needed government support and sometimes complete nationalisation. Understandably, this has made policymakers’ approaches to regulation less predictable. While past reforms often built on existing processes, regulators are now critically examining parts of their regimes that previously looked unshakeable. This seminar will examine how governments have responded to the crisis with measures such as the Banking Act, and how proposals like those in the Turner Review will affect the regulatory landscape going forward.
Many of the issues this seminar will cover concern both banks and borrowers. Examples include:
- Regulatory capital
- Liquidity
- The regulation of previously unregulated areas
- The shape of banks’ business models
- Transparency and disclosure
- International co-ordination
This seminar will be relevant to lawyers and non-lawyers alike at both banks and borrowers due to the significant impact of new bank regulation.
Attendance at this seminar will provide 1 hour of accredited CPD.
Demergers – creating value
Friday 9 October 2009
9.00am – 10.30am (registration from 8.30am)
In the not too distant past, companies seeking to refocus businesses and achieve shareholder value might have looked to sell off non-core entities to highly leveraged bidders such as private equity houses. With the reduced availability of leveraged buyout funds, what options are now available to companies?
One possible route is to demerge businesses and offer shareholders a stake in two separately listed vehicles. The rationale is, of course, to try to achieve greater value for shareholders on the basis that the sum of the individual parts is greater than the whole.
This seminar will consider:
- The main structures available and why you would choose one over another
- The tax issues involved. How can you make this tax neutral?
- The business issues. Which assets go where? What services will need to be shared and for what period? What happens to employees, their share options and their pensions? What about technology?
This seminar will be of interest to in-house legal, M&A and commercial teams, members of in-house finance teams and M&A advisers within investment banks or accountancy firms.
Attendance at this seminar will provide 1.5 hours of accredited CPD.
