ABA corporate member TLT has produced a review of key issues on the horizon for international banks, including LIBOR, data privacy and business immigration.
ABA welcomes TLT as new corporate member
- 17th, December, 2019
TLT is a full-service law firm with over 1100 people and offices in all three UK jurisdictions.
Financial services represent more than 40% of TLT’s turnover and the firm’s clients include all five of the UK clearing banks, foreign banks operating in the UK and a broad range of other financial institutions.
“We are very familiar with the issues that banks are facing in the UK and with what the regulators are expecting from those that operate here,” says Marc Gilston, one of the TLT finance partners based in London who will be leading his firm’s engagement with the ABA.
“In many cases, what the big banks are doing sets the framework for what is expected from small and medium sized banks. We are able to translate what we know about best practices among the big banks to help smaller banks avoid the pitfalls of others, and provide the guidance and insight into the wider market which clients require. Our experience of working with overseas banks operating in London means that we are uniquely placed to understand the challenges and requirements of the Arab banking community in London but more importantly, we understand how to help successfully navigate those challenges.”
TLT supports clients in three distinct areas: advisory work, transactions and disputes/litigation.
Advisory work tends to focus on helping financial institutions navigate the regulatory requirements set by the PRA and the FCA but it also extends to issues such as LIBOR (see further below), GDPR and how organisations manage their and control their data.
The firm advises on all types of finance transactions and the full range of documentation, from drafting precedents and pro forma documents through to acting on multi-currency syndicated multijurisdictional transactions.
It works with foreign banks and overseas corporate clients on trade finance, development finance, financing residential and commercial real estate as well as all aspects of corporate lending.
TLT also has extensive experience of Shari’a-compliant financing techniques including murabaha, mudaraba and ijara.
The firm’s work in disputes and litigation often entails helping financial institutions to deal with the outcome of supervisory actions, such as Section 166 investigations, and working with banks on remediation of regulatory infringements.
The firm is heavily involved in matters related to the ending of LIBOR, where it is supporting clients (both financial institutions and corporates) on all aspects of the transition away from LIBOR, the re-documenting of existing loan portfolios and identifying the key risks which could give rise to litigation and conduct breaches for the financial institutions. Marc Gilston comments that, “Some financial institutions are only now realising the scale of the work that they will have to undertake during the course of 2020 to be ready for the end of LIBOR in 2021. Financial Institutions need to understand and prepare for the risks to which they will be exposed to over the next few years as a result of the discontinuance of LIBOR.”
TLT has been working with foreign banks operating in the UK for over 30 years and has significant client relationships in India and other emerging markets. Marc and the team are now seeking to broaden the firm’s network of relationships in the Middle East. TLT already counts some of the biggest GCC banks among their clients and the firm will be looking to deepen and develop additional relationships with banks both in the GCC and the broader Middle East.
TLT’s offices are at 20 Gresham Street, a few hundred yards from Bank underground station.
Marc Gilston’s email is firstname.lastname@example.org and his phone number is 0333 006 1817.