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Silicon Valley Bank Situation

14/03/2023

We have been continuing to monitor the situation at Silicon Valley Bank on an international level since yesterday. 

Like the rest of the sector, we were relieved at announcement and welcomed news of the acquisition of SVB UK (the UK subsidiary of the SVB Group) by way of a share sale by HSBC UK Bank Plc. 

The CMS UK team has produced an updated FAQ to answer some of the key questions, including those that we have been hearing from our own clients. You can find this here.
 
As always, please do not hesitate to contact your client relationship partner at CMS if you have any questions about how this affects you and your business. Additionally, we’ve also set up a dedicated support email address help2023@cmslegal.com to contact us if you need assistance.