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This subtopic contains Lexology Panoramic guides, which provide concise explanations of how specific compliance topics are approached in different jurisdictions worldwide. They are written in a question and answer

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Latest Risk & Compliance News

Risk & Compliance weekly highlights—12 March 2026

This week's edition of Risk & Compliance weekly highlights includes updates to OFSI’s enforcement guidance, an analysis on the impact of lifting of UK sanctions on a British accountant, the UK government’s new cross‑government sanctions enforcement framework, and new DBT and FCDO guidance documents under the UK’s Belarus sanctions regime. We also cover the Home Office’s 2026–29 Fraud Strategy, a call for evidence on economic crime information‑sharing, and the European Commission’s revised code of practice for AI‑generated content marking under the EU AI Act.

DBT updates guidance on countering Russian sanctions evasion

The Department for Business and Trade (DBT) and the Office of Trade Sanctions Implementation have updated their guidance on countering Russian sanctions evasion and circumvention. The updates include changes to the UK goods considered at higher risk of circumvention and the list of third country exporters. The guidance, originally published on 7 January 2025, provides advice to help UK businesses identify and mitigate risks associated with the evasion of Russian trade sanctions.

Lifting of UK sanctions on British accountant could signal the way ahead

MLex: Lawyers representing John Ormerod (a British accountant who became the first UK-based national to be designated by the government over alleged Russian sanctions breaches) said it was too early to say whether the lifting of his restrictions signalled a shift in policy.

GenAI developers, users see toned down EU code of practice

MLex: A second draft of the EU’s voluntary code of practice on generative AI softens several transparency commitments under the EU AI Act, making some measures optional and scaling back marking requirements. It clarifies obligations for developers and users, drops common content definitions and makes the proposed EU icon voluntary. Feedback is due by 30 March 2026, following which a final draft is expected in May 2026 or June 2026.

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Late payment penalties—inheritance tax

Late payment penalties—inheritance taxWhile interest often accrues on overdue tax, the late payment of certain taxes may also attract a penalty. For information on the interest accruing on overdue tax, see Practice Notes: IHT—payment deadlines on death—Interest on IHT and Interest on late paid

If a beneficiary signs a deed of disclaimer of their share of an estate and the estate pays their legal

If a beneficiary signs a deed of disclaimer of their share of an estate and the estate pays their legal fees, will that count as a PET against their estate?A disclaimer is the refusal of a gift prior to acceptance. The refusal of the gift must take place before the beneficiary accepts any benefit

Can shares in a limited company that have not been paid-up at all be cancelled?

Can shares in a limited company that have not been paid-up at all be cancelled?A limited company having a share capital may not alter that share capital, except in the ways listed in section 617 of the Companies Act 2006 (CA 2006). Shares in a company cannot simply be cancelled without following an

Glossary—Latin legal terms

Glossary—Latin legal termsDespite attempts in recent years to simplify the language used in legal cases, there are still a number of Latin phrases commonly used in personal injury claims. The following Latin phrases are listed in alphabetical order:Latin
Late payment penalties—inheritance tax

Late payment penalties—inheritance tax

Late payment penalties—inheritance taxWhile interest often accrues on overdue tax, the late payment of certain taxes may also attract a penalty. For information on the interest accruing on overdue tax, see Practice Notes: IHT—payment deadlines on death—Interest on IHT and Interest on late paid

If a beneficiary signs a deed of disclaimer of their share of an estate and the estate pays their legal

If a beneficiary signs a deed of disclaimer of their share of an estate and the estate pays their legal

If a beneficiary signs a deed of disclaimer of their share of an estate and the estate pays their legal fees, will that count as a PET against their estate?A disclaimer is the refusal of a gift prior to acceptance. The refusal of the gift must take place before the beneficiary accepts any benefit

Can shares in a limited company that have not been paid-up at all be cancelled?

Can shares in a limited company that have not been paid-up at all be cancelled?

Can shares in a limited company that have not been paid-up at all be cancelled?A limited company having a share capital may not alter that share capital, except in the ways listed in section 617 of the Companies Act 2006 (CA 2006). Shares in a company cannot simply be cancelled without following an

Glossary—Latin legal terms

Glossary—Latin legal terms

Glossary—Latin legal termsDespite attempts in recent years to simplify the language used in legal cases, there are still a number of Latin phrases commonly used in personal injury claims. The following Latin phrases are listed in alphabetical order:Latin