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MiCA: Commission adopts delegated regulation on RTS specifying authorisation rules for ARTs

The European Commission has adopted a delegated regulation supplementing Regulation (EU) 2023/1114 (Markets in Crypto-Assets Regulation (MiCA)), with regard to regulatory technical standards (RTS) specifying the information required under MiCA, Article 18(2) in an application for authorisation to offer asset-referenced tokens (ARTs) to the public or to seek their admission to trading. The RTS sets out detailed disclosure requirements for applicant issuers, including legal identity, governance and control frameworks, financial projections, liquidity management, and the suitability of key individuals and shareholders with qualifying holdings.

European Commission launches consultation on EU savings accounts blueprint

The European Commission has opened a four-week call for evidence seeking input from EU citizens and stakeholders on developing a European blueprint for savings and investments accounts. The initiative, part of the Commission's Savings and Investments Union strategy, aims to establish best practices for retail investor access to capital markets, including tax treatment considerations. Commissioner for Financial Services and the Savings and Investments Union, Maria Luís Albuquerque, indicated the blueprint would draw on existing Member State practices. The Commission expects to publish its Recommendation on establishing savings and investment accounts in the third quarter of 2025.

FCA proposes reporting changes for fund managers

Law360, London: The Financial Conduct Authority (FCA) has proposed that it will reduce requirements for UK fund managers on how they report on value for investors, a move that would enable significant cost cuts.

EBA advises delay in PSD2 authorisation for EMT-related crypto services

The European Banking Authority (EBA) has published a ‘No Action Letter’ recommending that the EU institutions ensure that, in the long term, there is no dual authorisation requirement for transacting electronic money tokens (EMTs) under both Payment Services Directive (PSD2/3) and Markets in Cryptoassets Regulation (MiCA). The advice is aimed at minimising administrative burdens on cryptoasset service providers (CASPs) while maintaining consumer protection and market stability. The advice, formulated in response to a request from the European in December 2024, established a transition period until 2 March 2026 during which only selected CASPs transacting EMTs are required to obtain PSD2 authorisation.

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Late payment penalties—inheritance tax

Late payment penalties—inheritance taxWhile interest often accrues on overdue tax, the late payment of certain taxes may also attract a penalty. For information on the interest accruing on overdue tax, see Practice Notes: IHT—payment deadlines on death—Interest on IHT and Interest on late paid

If a beneficiary signs a deed of disclaimer of their share of an estate and the estate pays their legal

If a beneficiary signs a deed of disclaimer of their share of an estate and the estate pays their legal fees, will that count as a PET against their estate?A disclaimer is the refusal of a gift prior to acceptance. The refusal of the gift must take place before the beneficiary accepts any benefit

Glossary—Latin legal terms

Glossary—Latin legal termsDespite attempts in recent years to simplify the language used in legal cases, there are still a number of Latin phrases commonly used in personal injury claims. The following Latin phrases are listed in alphabetical order:Latin

Template for regulatory references given by SMCR firms and disclosure requirements

Template for regulatory references given by SMCR firms and disclosure requirements[Insert addressee details]Dear [insert name][It is our understanding that [insert name of prospective employee] [was an employee of yours between the dates of [insert dates as appropriate] OR is a current employee of
Late payment penalties—inheritance tax

Late payment penalties—inheritance tax

Late payment penalties—inheritance taxWhile interest often accrues on overdue tax, the late payment of certain taxes may also attract a penalty. For information on the interest accruing on overdue tax, see Practice Notes: IHT—payment deadlines on death—Interest on IHT and Interest on late paid

If a beneficiary signs a deed of disclaimer of their share of an estate and the estate pays their legal

If a beneficiary signs a deed of disclaimer of their share of an estate and the estate pays their legal

If a beneficiary signs a deed of disclaimer of their share of an estate and the estate pays their legal fees, will that count as a PET against their estate?A disclaimer is the refusal of a gift prior to acceptance. The refusal of the gift must take place before the beneficiary accepts any benefit

Glossary—Latin legal terms

Glossary—Latin legal terms

Glossary—Latin legal termsDespite attempts in recent years to simplify the language used in legal cases, there are still a number of Latin phrases commonly used in personal injury claims. The following Latin phrases are listed in alphabetical order:Latin

Template for regulatory references given by SMCR firms and disclosure requirements

Template for regulatory references given by SMCR firms and disclosure requirements

Template for regulatory references given by SMCR firms and disclosure requirements[Insert addressee details]Dear [insert name][It is our understanding that [insert name of prospective employee] [was an employee of yours between the dates of [insert dates as appropriate] OR is a current employee of