Retention definition

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EU Securitisation Regulation—timeline

EU Securitisation Regulation—timeline This timeline shows key developments relating to Regulation (EU) 2017/2402 (the EU Securitisation Regulation) from January 2024 onwards. For earlier developments, see EU and UK Securitisation Regulations—timeline [Archived]. 2025 Date Source Document Description 1 April 2025 AFME The Joint Associations’ response to the ESMA consultation of February 2025 on the revision of the disclosure framework for private securitisation AFME, Commercial Real Estate Finance Council (CREFC) Europe and International Capital Market Association (ICMA) submitted a joint response to the European Securities and Markets Authority's (ESMA) consultation on revising private securitisation disclosure requirements. The joint response argues against: introducing a simplified reporting regime for EU-originated securitisations before wider reforms, citing concerns about potential changes to private securitisation definitions, continued template-based reporting requirements, and unresolved third-country reporting issues. They propose an alternative approach focusing on supervisory reporting needs while allowing more flexible investor disclosures.See: LNB News 01/04/2025 71. 31 March 2025 EBA Joint Committee Report on the implementation and functioning of the Securitisation Regulation (Article 44) The Joint Committee...

Drafting a building contract/schedule of amendments—checklist

Drafting a building contract/schedule of amendments—checklist Once the procurement route and form of building contract has been selected (see Practice Note: Choosing the right procurement method—construction projects) the employer should consider the following matters and incorporate the appropriate drafting in the building contract particulars and schedule of amendments. This Checklist assumes that the parties are using a standard form of building contract, such as a JCT form, and that the employer is proposing the first draft including the completed contract particulars and a schedule of amendments, which amends the standard terms. This list is not exhaustive, however, and there may be other project specific matters/risks that need to be taken into account: Contractual matters • Carry out due diligence on the contractor The employer needs to carry out due diligence on the contractor at the outset to determine whether its financial position is acceptable. Confirm the contractor’s company number and name at Companies House. • Obtain consultants’ details Confirm the full details of the consultants engaged by the employer; some...

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Drafting a Will—flowchart

Drafting a Will—flowchart This flowchart indicates the principal steps to be taken

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Disclosure—solicitors' obligations

Disclosure—solicitors' obligations This Practice Note identifies solicitors’ obligations in relation to disclosure to their client and the court. It also explains the need to preserve documents, provide the required disclosure and co-operate with the other side particularly in relation to electronic disclosure (e-disclosure). This Practice Note does not cover the provisions of the disclosure scheme operating in the Business and Property Courts. For guidance, see: Disclosure scheme—overview. Obligations Throughout the disclosure process you have obligations to your client, to the court and in accordance with other relevant provisions. These include, but are not limited to: • advising your client of the need to preserve documents—see further: Preservation of documents • ensuring your client complies with all relevant and applicable provisions and makes compliant disclosure—see further: Full disclosure • co-operating with the other side, specifically in relation to e-disclosure and/or where the claim is proceeding on the multi-track and does not involve a claim for personal injury—see further: Co-operating with the other side • a reasonable duty to manage...

GB Energy Labelling Regulation (EU) 2017/1369—snapshot

GB Energy Labelling Regulation (EU) 2017/1369—snapshot Title Assimilated Regulation (EU) 2017/1369 of the European Parliament and of the Council of 4 July 2017 setting a framework for energy labelling and repealing Directive 2010/30/EU (GB Energy Labelling Regulation) Entry into force 1 August 2017 Subject Energy labelling, energy efficiency of products In GB mandatory energy labelling is regulated by: • Assimilated Regulation (EU) 2017/1369 (the GB Energy Labelling Regulation) • Energy Information Regulations 2011 (EIR 2011) • Ecodesign for Energy-Related Products and Energy Information Regulations 2021, SI 2021/745 In-scope products have to comply with the information and labelling requirements contained therein. The EU Energy Labelling Regulation (Regulation (EU) 2017/1369) continues to apply in Northern Ireland post-Brexit. For more on the position in Northern Ireland, see Practice Note: What does the Northern Ireland Protocol (Windsor Framework) mean for the application of environmental law? DESNZ and the Office for Product Safety and Standards have produced guidance on energy information for suppliers and dealers setting out the different requirements...

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Ireland—data protection impact assessment—artificial intelligence

Ireland—data protection impact assessment—artificial intelligence DPIA screening questionnaire The screening questionnaire should be a concise document and not overly burdensome on the business. However, it needs to provide sufficient information to the DPO/Privacy POC to decide if a DPIA needs to be completed. Like the DPIA itself, the screening questionnaire will be drafted by a multidisciplinary team within the business. All completed screening questionnaires should be approved, time stamped and retained by the DPO/Privacy POC. Where a DPIA is required, it should be kept with the screening questionnaire to avoid duplication. The DPIA template is a continuation of the screening questionnaire. While the screening questionnaire and the DPIA detail AI use in accordance with EU GDPR requirements, companies deploying AI systems also need to factor in their obligations under additional relevant legislation, such as the requirement to carry out a fundamental rights impact assessment (FRIA) under the EU AI Act. While outside the scope of this document, information gathered as part of the screening questionnaire / DPIA exercise will be...

Data sharing decision form

Data sharing decision form For use by the organisation taking the decision to share data. 1 Request details Name of organisation receiving request to share data [Insert name of organisation receiving the request for data sharing] Name of organisation requesting data [Insert name of organisation requesting data] Name and position of person requesting data [Insert name and position of person requesting data] Date request received [Insert date you received the request] 2 Description of data sharing Description of data requested [Insert description of the data you are seeking access to] Data controller relationship ☐ Joint☐ Separate Will we have a data sharing agreement in place? ☐ Yes☐ No[If no, explain why not] 3 Lawful processing Purpose of sharing [Insert description of why the data will be shared] Lawful basis of sharing [Insert relevant lawful basis for sharing, eg contractual performance, consent, legitimate interests] Why is sharing necessary? [Insert description of why the data sharing is necessary for the purposes identified above] Are special conditions met for...

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If a law firm has a digital copy of a complete matter file, is there a period of time that the firm must keep the physical copy of the file before it is destroyed?

If a law firm has a digital copy of a complete matter file, is there a period of time that the firm must keep the physical copy of the file before it is destroyed? We are not aware of any specific regulatory requirement mandating the retention of physical copies of matter files if a digital copy is available. Indeed, some firms operate on a paperless basis generally, holding hard copy original documents/deeds only. However, it is generally good practice for law firms to have a matter closing procedure that includes the storage and eventual destruction of both paper-based and digitally-stored records How to close a client

Company A and Company B are co-investors into ProjectCo. Is Company A required/entitled to carry out KYC checks on ProjectCo's directors nominated by Company B, and if so what information can Company A request?

Company A and Company B are co-investors into ProjectCo. Is Company A required/entitled to carry out KYC checks on ProjectCo's directors nominated by Company B, and if so what information can Company A request? ‘Relevant persons’ for the purpose of the Money Laundering Regulations 2007 (MLRs) The Money Laundering Regulations 2007, SI 2007/2157 (MLRs 2007) apply to the following legal or natural persons acting in the course of business carried on by them in the UK as defined in MLR 2007, SI 2007/2157, reg 3: • credit institutions • financial institutions • auditors, insolvency practitioners, external accountants and tax advisers • independent legal professionals • trust or company service providers • estate agents • high value dealers • casinos MLR 2007, SI 2007/2157, reg 4 outlines exclusions to the rule and discusses a range of persons and activities. It may also be useful to view Practice Note: Introduction to the UK AML/CTF legal and regulatory framework for financial services for further insight. Customer due diligence As required by...

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ICO issues reprimand to Greater Manchester Police over lost CCTV footage

The Information Commissioner's Office (ICO) has issued a reprimand to Greater Manchester Police (GMP) following the internal loss of two hours of custody suite CCTV footage from February 2021. The breach occurred when GMP failed to properly retain footage requested for extended storage beyond the standard 90-day period. The ICO found GMP breached the Data Protection Act 2018 by failing to implement appropriate technical measures to prevent data loss and failing to provide the data subject access within statutory timeframes. The investigation revealed the loss resulted from unclear internal responsibilities for quality checks and inadequate retention policies, rather than external breach or unauthorized sharing. GMP has since upgraded its surveillance infrastructure and implemented stricter retention procedures.

EU Law weekly highlights—29 May 2025

This week's edition of EU weekly highlights covers the approval of major revisions to the EU carbon border adjustment mechanism (EU CBAM) by the European Parliament and Council of the EU, the launch of a call for evidence on an EU Digital Justice strategy for 2025–2030, the Commission’s adoption of identification and calculation rules for European oil and gas producers to deliver new CO2 storage solutions and a series of secondary legislation to implement the EU Net-Zero Industry Act, and the Commission initiating formal proceedings against Pornhub, Stripchat, XNXX, and XVideos under the EU Digital Services Act for suspected breaches regarding protection of minors. In addition this week, the Consumer Protection Cooperation Network and Commission’s notified SHEIN of several practices on its platform that contravene EU consumer protection laws, the European Ombudswoman opened an inquiry into the Commission’s preparation of the omnibus package of simplification measures, the Data Protection Commission engaged with technology companies regarding the use of personal data to train large language models in the EU/EEA, the Council...