Insight & Analysis

Press Release: Debt security compliance tool launched by CC Applied Solutions, combats company sanctions and reputation damage

Published: Jun 2020

1st June 2020 – Clifford Chance Applied Solutions announces the launch of a digital tool “Continuing Obligations: Debt Securities” that will assist in complying with on-going obligations for listed debt securities. The first version of the product will include listing venues in Luxembourg, the UK and Ireland, with new jurisdictions added on demand.

Newspaper press release

The product is the first of its kind on the market and does the following:

  • Simplifies debt security obligations bringing together all relevant listing rules and action points into one simple online format;
  • Saves time trying to track compliance and stock exchange obligations, in different jurisdictions;
  • Protects from financial and reputational loss, as there is an increased focus on sanctions for companies failing to comply with guidelines*.

Jeroen Plink, CEO at Clifford Chance Applied Solutions, comments: “Failing to comply with debt securities reporting obligations fully and on time can result in sanctions, which can hurt an organisation’s bottom line and reputation. To tackle this, we have worked closely with Clifford Chance’s capital markets lawyers to create a simple and user-friendly digital tool which tells you what you need to do to avoid falling foul of the rules. The product is accessible 24 hours a day and has instant access to customer support for further assistance. This tool ensures tracking on-going obligations for listed debt is seamless.”

Andrew Coats, capital markets partner at Clifford Chance, comments: “Issuers of debt securities and structured products need to comply with a variety of continuing obligations. These often arise under different regulations, rulebooks and guidelines, making compliance complex, especially where issuers have securities listed on multiple exchanges. This digital tool puts all the information together in a single easily accessible place and should assist issuers in navigating the requirements and maintaining good relationships with their regulators.”

The Clifford Chance lawyers involved in the product were; partner Andrew Coats, associate Richard Whiteaway in London and partner Steve Jacoby, senior associate Eimear O’Dwyer, associate Daniel Ciarrocchi in Luxembourg.

*Asia Resource Minerals plc fined £4.65m for breaching the Listing Rules

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