The following Financial Services practice note produced in partnership with Mark Compton and Lauren Smith of Mayer Brown International LLP provides comprehensive and up to date legal information covering:
BREXIT: 11pm (GMT) on 31 December 2020 (‘IP completion day’) marked the end of the Brexit transition/implementation period entered into following the UK’s withdrawal from the EU. Following IP completion day, key transitional arrangements come to an end and significant changes begin to take effect across the UK’s legal regime. This document contains guidance on subjects impacted by these changes. Before continuing your research, see: Brexit and financial services: materials on the post-Brexit UK/EU regulatory regime. See also: Brexit and financial services—the temporary permissions regime (TPR) — Senior Managers & Certification Regime (SM&CR) and the TPR.
The Conduct Rules are one component of the broader Senior Managers & Certification regime (SM&CR), regulating qualifying individuals in the financial services sector. The Conduct Rules set minimum standards of individual behaviour in financial services. By applying the Conduct Rules to a broad range of staff, the Financial Conduct Authority (FCA) and the Prudential Regulatory Authority (PRA) aim to improve individual accountability and awareness of personal conduct issues across firms. The Conduct Rules will apply to almost all employees who carry out financial services activities, or linked activities, in a firm. Some Conduct Rules apply to nearly all employees, while others only apply to Senior Managers. This Practice Note considers both the FCA Conduct Rules contained in the FCA’s Code of Conduct for Staff sourcebook (COCON) and the PRA’s Conduct Rules set
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This Practice Note examines why parties involved in a construction project may enter into an escrow agreement (or escrow deed) to set up an escrow account. It looks at the benefits of paying funds into escrow, how an escrow account operates and the provisions typically found in an escrow
What is a company's constitution?A company’s 'constitution' is defined under the Companies Act 2006 (CA 2006) as including:•the company’s articles of association, and•any resolutions and agreements affecting a company’s constitutionThe CA 2006 definition of 'constitution' is not exhaustive and also
This Practice Note considers claims for damages for breach of statutory duty. For guidance on claims for damages for a negligent breach of duty of care outside a statutory duty, see Practice Notes:•Negligence—when does a duty of care arise?•Negligence—when is the duty of care breached?Breach of
This Practice Note provides a high-level introduction to diversity and inclusion (D&I) and key reasons why it is important to law firms. Specific aspects of D&I are covered in more detail in Practice Notes:•The growing focus on diversity and inclusion (D&I) in law firms•Unconscious bias—law
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