13 Jul 2017
Briefing on FCA paper PS17/13 banning the use of clauses restricting a client's choice of future providers of ECM or DCM services, or M&A services
On 27 June 2017 the FCA published policy statement PS17/13, containing final versions of the rules proposed in consultation paper CP16/31. The new rules will ban the use of certain clauses in investment and corporate banking engagement letters and other contracts which restrict a client's choice of future providers of equity or debt capital markets services, or merger and acquisition services.
The new rules will come into force on 3 January 2018.
This note sets out a brief overview of the new requirements and highlights some practical issues arising from the new rules.
This material is provided for general information only. It does not constitute legal or other professional advice.
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