Law360: The International Emergency Economic Powers Act (IEEPA) does not empower the president to impose tariffs, the DC federal district court said on 29 May 2025, ruling that President Donald Trump's global levies are unlawful and barring his administration from enforcing them on two toymakers who challenged the policies.

THIS PRACTICE NOTE APPLIES IN RELATION TO TRUST-BASED OCCUPATIONAL DEFINED CONTRIBUTION PENSION SCHEMES This Practice Note has been archived. It relates to the Pensions Regulator's approach to DC governance between 21 November 2013, when its original defined contribution Code of Practice (the previous DC Code) came into effect, and 28 July 2016, when its new Code of Practice 13 on the governance and administration of occupational trust-based schemes providing money purchase benefits (the New DC Code), together with supporting DC guides, came into effect. It focuses on: • the 31 DC quality features (the DC Quality Features) which were outlined by the Pensions Regulator (the Regulator) in the previous DC Code and accompanying regulatory guidance, published in November 2013, and • the ways in which the trustees of DC occupational pension schemes could demonstrate how they had complied with those DC Quality Features, as was expected of them by the Regulator The New DC Code is shorter and simpler than the previous DC Code which

ARCHIVED: This archived Practice Note sets out the Pensions Regulator’s expectations under its 2016 DC Code of Practice and accompanying DC guides for occupational money purchase schemes for the period between 28 July 2016 and 27 March 2024 (the day before the coming into effect of the General Code, which replaced the 2016 DC Code of Practice). For current information about DC governance, see Practice Note: Governance requirements applicable to DC workplace pension schemes. There are two types of work-based defined contribution (DC) schemes: • trust-based, ie created by trust deed (or declaration of trust) and managed by (a board of) trustees on behalf of the scheme members—eg a trust-based DC occupational scheme, and • contract-based, ie established and managed by insurance providers (usually on instruction from an employer) and with a contractual relationship between the member and the provider—eg a group personal pension plan. Such schemes are sometimes referred to by the Pensions Regulator (TPR) as ‘work-based personal pension schemes’ This Practice Note focuses on

This Practice Note examines the practical considerations arising when occupational pension scheme assets and liabilities are transferred to a master trust (being a scheme authorised by the Pensions Regulator under the Pension Schemes Act 2017), including transition planning and governance, stakeholder communications, data migration and the available methods for transferring assets. A defined contribution (DC) scheme may decide to transfer its assets and liabilities to a master trust if the scheme trustees decide it is in members’ interests to transfer to a Master Trust scheme. Alternatively, a master trust may transfer to another master trust in pursuance of ‘continuity option 1’ (ie because a triggering event has occurred in relation to the transferring Master Trust scheme which cannot be resolved so that the scheme is legally required to transfer members’ accrued rights to another Master Trust scheme and statutorily wind up)—for further information on continuity option 1, see Practice Note: The authorisation and supervisory regime for master trusts, in particular, Triggering events and continuity options. Such a transfer will usually take the form of a

What are core financial transactions? Trustees of relevant schemes (effectively defined contribution (DC) occupational pension schemes, subject to some exceptions) have a duty to ensure that core financial transactions are processed promptly and accurately. Core financial transactions include several administration activities, including: • receipt of contributions • investment of contributions • transfers out of the scheme • scheme payments to members Interaction with other duties The annual DC chair’s statement must explain how trustees have ensured compliance with this duty during the scheme year. For further information, see Practice Note: The DC chair's statement—the pension requirements. Significantly, the Pensions Regulator (TPR) considers that this duty forms part of the duty to have and maintain an effective system of governance (ESOG) since internal controls include control over financial transactions (for further information on which, see Practice Note: Pension requirement for an effective system of governance, including internal controls (ESOG)). This means that all schemes that are subject to the ESOG duty (whether or not they are relevant schemes) should ensure

Delivery Command Centre: Project management organisation implemented at site to improve interfacing between engineering, construction, and contracting companies.

CASE HUB ARCHIVED–this archived case hub reflects the position at the date of the decision of 4 September 2012; it is no longer maintained. See further, timeline. Case facts Outline UK merger investigation into the completed acquisition by DCC Energy Limited of certain oil distribution businesses from Rontec Investments LLP that had previously been owned by Total UK Limited. Latest developments • The CC concluded that the merger did not raise competition concerns and did not result in a significant lessening of competition. Therefore, the CC cleared the transaction unconditionally. Parties Acquirer—DCC Energy Limited (DCCE). Three businesses from Rontec, Investments LLP (Rontec) namely the Butler Fuels business (involved in the sale and distribution of heating and transport fuels and other petroleum products to domestic and business customers), the Dealer business (the contractual right to supply transport fuels to certain dealer owned and operated retail service stations under the Total

Discounted cashflow—the valuation method assessing the net present value of future cashflows.

Ductile Iron Cast Container

Banking & Finance analysis: This news analysis discusses the implications of extended trading on debt capital markets (DCM) practitioners following the publication of the World Federation of Exchanges (WFE) paper on extended trading.

The Department for Culture, Media and Sport (DCMS) and the Charity Commission have published a framework document setting out the governance, accountability and working arrangements between the two bodies for England and Wales. The framework document sets out the broad governance framework within which DCMS and the Charity Commission operate, the Charity Commission’s core responsibilities, statutory objectives and functions, the governance and accountability framework between the two bodies and how their working relationship operates in practice, including governance and financial matters. It also confirms the Charity Commission’s status as a non-ministerial department with operational independence in the exercise of its statutory functions, includes a memorandum of understanding concerning DCMS’s role as principal regulator of sponsored national museums and galleries and states that the framework document will be reviewed and updated by June 2029.

The Department for Culture, Media and Sport (DCMS) and the Prime Minister's Office have announced the Civil Society Covenant, establishing a new framework for collaboration with charities, faith groups, and social enterprises. The initiative includes the creation of a Joint Civil Society Covenant Council to oversee implementation, as well as the launch of a £500m Better Futures Fund aimed at supporting early intervention for children and families. Developed in consultation with 1,200 organisations since October 2024, the framework seeks to integrate civil society organisations into government decision-making processes. Additional measures include the Local Covenant Partnerships programme, which will facilitate collaboration between civil society groups and local authorities. This announcement follows an 18-month period of development and involves representatives from devolved administrations in Scotland, Wales, and Northern Ireland.