The following Risk & Compliance precedent provides comprehensive and up to date legal information covering:
IP COMPLETION DAY: 11pm (GMT) on 31 December 2020 marks the end of the Brexit transition/implementation period entered into following the UK’s withdrawal from the EU. At this point in time (referred to in UK law as ‘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 Practice Note: What does IP day mean for Risk & Compliance?
Damage limitation is a priority immediately following a security breach. You will need a team of people to manage the data breach.
☐ Assemble a data breach team, including your Data Protection Officer (DPO) (if you have one), head of legal/compliance, head of IT and head of HR (if employee data is involved).
☐ Appoint someone to lead the team (preferably not your head of IT).
Your first instinct may be to tell affected individuals and regulators about the breach, but you need more information before you can decide whether this is necessary or desirable—the time limit for notifying the Information Commissioner’s Office (ICO) under the General Data Protection Regulation (GDPR) is 72 hours from becoming aware of the breach and the GDPR Recitals suggest you
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This Practice Note explains certain common financial covenants used in commercial finance transactions including:•minimum net worth test•gearing ratio•leverage ratio (or debt to equity ratio)•current ratio (or acid test ratio)•cashflow ratio•interest cover ratio, and•loan to value ratioIt explains:
The primary function of office-holders in personal and corporate insolvency is to collect in the assets belonging to a company or individual and to distribute these to the company's or individual's creditors. Office-holders have various duties and powers in order to ensure that they do this. For
Statutory 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 members' voluntary liquidation (MVL) and where/when is it typically used?Before the members can vote on a
Who is a fiduciary?There is no comprehensive list of the relationships which give rise to the existence of fiduciary duties under common law. Some relationships are automatically fiduciary, eg those between trustee and beneficiary, solicitor and client, principal and agent, business partner and
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