BoE Ends COVID Dividend Rules For Clearing, Settlement Cos

By Najiyya Budaly (November 11, 2021, 11:38 AM GMT) -- The Bank of England said on Thursday that institutions that clear and settle financial transactions will no longer have to discuss their plans to make dividend payouts to shareholders, ending a COVID-era measure.

Jon Cunliffe, deputy governor of financial stability at the central bank, told so-called financial market infrastructures that they are no longer required to discuss dividend payments with the central bank before doing so. The institutions — which include central counterparties and central securities depositories — perform a critical function in the U.K. market by settling, clearing and recording transactions.

The central bank told financial market infrastructures in June 2020 to...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.

  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!


Related Sections


Government Agencies

Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Ask a question!