Financial Markets Law Committee publishes report on the definition of ‘similar contracts of guarantee’

The UK Financial Markets Law Committee exists to identify issues of material legal uncertainty in the law underpinning the UK’s financial markets and to consider how such issues might be resolved. The FMLC today published a report suggesting improvements to the definition of ‘similar contracts of guarantee’, one of a number of different types of contract that are regulated as insurance business under the UK Financial Services and Markets Act 2000. 3VB’s Robert Purves was a member of the FMLC Working Group that produced the report.