The following Financial Services practice note 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.
On 1 April 2013 the Financial Services Authority (FSA) Handbook was split between the Financial Conduct Authority (FCA) and the Prudential Regulation Authority (PRA) to form two handbooks, one for the PRA and one for the FCA. Most provisions in the FSA Handbook were incorporated into the PRA’s Handbook (replaced by the PRA Rulebook on 29 August 2015), the FCA’s Handbook, or both, in line with each regulator’s set of responsibilities and objectives. Other provisions were deleted (for example, chapter 1 of the FSA’s Supervision Manual has been replaced by chapter 1A of the FCA’s Supervision Manual).
While the FCA Handbook 'designates' or 'adopts' provisions formerly found in the FSA Handbook, substantive changes were made to reflect the FCA’s role and powers. This includes such aspects as the processes for applying for authorisation, passporting, controlled functions, threshold conditions and enforcement powers. A number of substantive changes were consulted on before
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Capital allowances on property sales—pre-contract enquiriesThis Practice Note is about capital allowance-related pre-contract enquiries on a property transfer. It applies to the grant of a new property interest (eg a lease) as well as to the acquisition of an existing lease or freehold.For clauses
Lexcel—assessmentLexcel is the Law Society's practice management standard. It is not compulsory although Lexcel accreditation can be helpful for firms wishing to be accredited under the Conveyancing Quality Scheme or the Legal Service Board's Specialist Quality Mark. This Practice Note tells you
What is a statutory declaration of solvency, and what happens if a false declaration of solvency is madeStatutory declaration of solvencyA company enters voluntary liquidation when the members of the company vote to do so by a special resolution. For more information, see Practice Note: What is a
Proprietary estoppelThis Practice Note considers proprietary estoppel from a generic standpoint.For industry specific guidance on proprietary estoppel, see Practice Notes:•Estoppel and property law•Mortgages by estoppelProprietary estoppel—what is it?Unlike the other forms of estoppel (see Practice
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