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The financial collateral regulations gained attention due to the second Leman case, which provided clarification in certain areas rather than fundamentally changing the law. The regulations, effective since 2003 following an EC directive, were previously complicated by the 2010 Gray case, prompting amendments in April 2011. The Leman case offers a comprehensive analysis of the legal position surrounding financial collateral arrangements, specifically focusing on the aspects of security in such arrangements under the regulations.