The following Financial Services Q&A provides comprehensive and up to date legal information covering:
A firm which carries on regulated activities as defined in section 22 of the Financial Services and Markets Act 2000 (FSMA 2000) can only do so if it is authorised to do so by the Prudential Regulation Authority (PRA) or the Financial Conduct Authority (FCA) or is otherwise exempt. This is known as the general prohibition. For more information, see Practice Notes: The general prohibition and implicatio
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You may apply simplified customer due diligence (SDD) measures in relation to particular business relationships or transactions which you determine present a low risk of money laundering or terrorist financing, having taken into account:•your organisation-wide risk assessment—see Practice Note:
There may be times when, rather than assigning the benefit of an agreement to a third party, the original parties wish instead to end their obligations to each other under that agreement and, in effect, recreate it, with the third party stepping into the shoes of one of the original parties. This is
What is recklessness?In respect of some statutory offences and common law crimes the prosecution are required to prove a mental element of recklessness on the part of the defendant.Recklessness means unjustified risk taking on the part of the accused.Prior to the House of Lords decision in Re G
Codicils may be used for making any alteration in a Will such as to alter the executors or make changes in legacies, whether by addition or deletion but that is by no means their only use. As a general rule, substantial changes are best achieved by means of a new Will and codicils are more
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