The following Corporate practice note provides comprehensive and up to date legal information covering:
This Practice Note focuses on the membership, role and processes of the European Securities and Markets Authority (ESMA). ESMA is an independent European Union Authority established on 1 January 2011 to replace and continue the work of the Committee of European Securities Regulators (CESR) and carry out additional obligations provided for under the ESMA Regulation.
ESMA is one of three European Supervisory Authorities (ESAs) which are part of the European System of Financial Supervision. Its main task is to ensure consistent and appropriate financial supervision throughout the EU.
ESMA has a full time Chair, an Executive Director and two governing bodies:
the board of supervisors (Board of Supervisors), and
the management board (Management Board)
The main role of the Board of Supervisors is to make all policy decisions and it has responsibility for a range of matters such as the adoption of ESMA technical standards, opinions and guidelines. The Board of Supervisors is made up of:
the ESMA chair
the heads of the national competent authorities (NCAs) in the EU and EEA which are responsible for securities regulation and supervision, and
non-voting representatives from the European Commission (EC), the European Systematic Risk Board (ESRB), the European Banking Authority (EBA), the European Insurance and Occupational Pensions Authority (EIOPA) and the European Free Trade Association Surveillance Authority (EFTA Surveillance Authority)
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Breach of statutory dutyThis 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
Summary assessment—statement of costsSummary assessment is the procedure whereby costs are assessed by the judge who has heard the case or application (see Practice Note: Summary assessment). This Practice Note considers the use of a statement of costs in summary assessment. Form N260 is a model
Escrow accounts and escrow agreementsThis 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
DateD [date]Parties1[name of Landlord] [of OR incorporated in England and Wales with company registration number [number] whose registered office is at] [address] (Landlord)2[name of Tenant] [of OR incorporated in England and Wales with company registration number [number] whose registered office
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