In a step towards the establishment and operation of the EU’s Authority for Anti-Money Laundering and Countering the Financing of Terrorism (AMLA), the European Parliament’s Committee on Economic and Monetary Affairs (ECON) and Committee on Civil Liberties, Justice and Home Affairs have published a report approving the proposal for the appointment of Ms Bruna Szego as AMLA’s Chair.

This Practice Note considers the EU’s Authority for Anti-Money Laundering and Countering the Financing of Terrorism (AMLA). It sets out: • AMLA’s role • the statutory framework governing AMLA—Regulation (EU) 2024/1620 of the European Parliament and of the Council of 31 May 2024 establishing the Authority for Anti-Money Laundering and Countering the Financing of Terrorism and amending Regulations (EU) 1093/2010, (EU) 1094/2010 and (EU) 1095/2010 (the AML Agency Regulation (AMLAR)) • key operative dates • AMLA’s governance and decision-making • the EU’s Central AML/CTF Database, and • AMLA’s funding and annual financial levy For further information on financial services firms in scope of AMLA’s direct supervision, known as Selected Obliged Entities, see Practice Note: AMLA: direct supervision of qualifying financial services firms. This includes: the criteria and selection process AMLA will use to determine which Credit and Financial Institutions it will directly supervise and AMLA’s supervisory and enforcement powers. Overview AMLA is an EU-level central supervisory body based in Frankfurt which commenced operations in early 2025. AMLA forms the basis of an integrated, centralised and uniform EU anti-money

This Practice Note considers direct supervision by the EU’s Authority for Anti-Money Laundering and Countering the Financing of Terrorism (AMLA) of financial services firms which have the highest risk profiles in several EU Member States, falling within the definition of ‘Selected Obliged Entities’, for compliance with the EU’s anti-money laundering (AML) and countering the financing of terrorism (CTF) framework, including the EU’s financial sanctions framework. In relation to AMLA’s direct supervision of Selected Obliged Entities (SOEs), it sets out: • the legislative basis for AMLA’s direct supervision—Regulation (EU) 2024/1620 of the European Parliament and of the Council of 31 May 2024 establishing the Authority for Anti-Money Laundering and Countering the Financing of Terrorism and amending Regulations (EU) 1093/2010, (EU) 1094/2010 and (EU) 1095/2010 (the AML Agency Regulation (AMLAR)) • key operative dates • the criteria and selection process AMLA will use to determine which credit and financial institutions, including cryptoasset providers (CASPs), it will directly supervise for compliance with the EU’s AML/CTF framework • AMLA’s supervisory powers, and • AMLA’s disciplinary and enforcement powers This

The Association of Member Nominated Trustees (AMNT) has published its response to the fourth annual Sole Trustee survey report carried out by Lane Clark and Peacock (LCP)  which focuses on the growth and evolving trends in both the Professional Trustee and Professional Sole Trustee markets over the past year.  While the AMNT is pleased with the high quality of the LCP survey in its analysis of the current landscape of the Professional Trustee and Sole Trustee market, it has expressed its concerns over the consistent lack of governance of the Sole Trustee model and cautions that the regulatory framework must be updated in order to ensure proper oversight and protection for members. AMNT refers to a number of issues that need to be addressed urgently by the report. These include that that there needs to be greater transparency and oversight on the trustee appointment as on average 30% of Professional Trustees and 40% of Sole Trustees do not have to face a tender process.  AMNT believes the Pensions Regulator needs to act on this and on the development of  “streamlined sole trusteeship”, where professional trustee firms offer a range of other scheme services which may stray outside the regulatory regime. The AMNT has further misgivings about the pace of change of modern trusteeship with a lagging regulatory framework, including what it sees as  ‘no meaningful safeguards’ over who can be appointed as a sole trustee.

Advanced Manufacturing Research Centre: The aerospace equivalent of the Nuclear AMRC, based on an adjacent site in Rotherham.

The Home Office has amended its Form AN guidance for naturalisation applications to confirm that expired Biometric Residence Permits (BRPs) can be used until the end of 2026 (ie for 24 months, rather than 18 months after their expiry, as previously) for the purposes of proving that the freedom from immigration time restrictions requirement is met, and identity before taking the Life in the UK test. The new version guidance document also confirms that a BRP must be destroyed upon receipt of the naturalisation certificate, rather than returned to the Home Office within five working days.

The Award for Nuclear Industry Awareness: A level 2 qualification designed by industry to provide essential knowledge for all entrants to the nuclear sector. It is ideal for apprentices, graduates and people transferring into the nuclear sector from another industry.

Area of Outstanding Natural Beauty: A statutory designation. The legal framework for Areas of Outstanding Natural Beauty is provided by the Countryside and Rights of Way Act 2000. The Act confirms that the purpose of designating AONBs is the conservation and enhancement of the natural beauty of the area.

Advanced Passive 1100MW nuclear reactor designed by Westinghouse, the technology originally considered for the Moorside site in England. This design differs from the EPR™ reactor design of AREVA in that this reactor is smaller and is made up of a series of modules that can be constructed off-site for transport and fitting on-site.

KEPCO-designed PWR used domestically in South Korea but also being built in Abu Dhabi (Barakah NPP) and being marketed elsewhere.

Insert the following definitions as new definitions into clause 1 of the precedent: Asset purchase agreement—long form—conditional (buyer's version): 1. Definitions and interpretation Bank means [insert name of bank at which the retention account will be held]; Determination Date means the date on which a Relevant Claim becomes a Determined Claim in accordance with paragraph 1.1 of Schedule [19 OR [insert schedule number for operation of retention account schedule]]; Determined Claim means a Relevant Claim which has become a Determined Claim pursuant to paragraph 1.1 of Schedule [14 OR [insert schedule number for operation of retention account schedule]] and determined and determination shall be construed accordingly; Release Date means [insert date on which the retention funds will be released from the retention account]; Relevant Claim means any: (a) Warranty Claim; [or] (b) [claim made by the Buyer against the Seller for breach, non-observance or non-performance of any provision of this Agreement; [ora] ] (c) Tax Claim; [or] (d) [claim made by the Buyer against the Seller under the Indemnities;] [Retention Account means

Insert the following definitions as new definitions into clause 1 of Precedent: Asset purchase agreement—long form—conditional (buyer's version): 1 Definitions and interpretation Auditors means the auditors of the Buyer in relation to the Business; Buyer’s Accountants means [insert name] of [insert address]; Counsel means a Queen’s Counsel having a minimum of ten years' call; Deferred Consideration means the [aggregate of the] [Consideration Shares AND/OR [and ]cash] [issuable AND/OR [and ]payable] to the Seller in respect of the Earn-out Period[s] pursuant to clause 3; Determination Date means the date on which an Earn-out Payment Amount is agreed or determined in accordance with [Schedule 14 OR [insert schedule number for the determination of the earn-out schedule]]; Determined Amount has the meaning given to it in clause [3.11 OR 3.16]; Determined Claim has the meaning given to it in clause 3.25; Due Date has the meaning given to it in clause 3.10; Earn-out Accounts means the [audited] accounts of the Business produced by the Auditors in accordance with [Schedule 14 OR [insert schedule number for the determination of the earn-out schedule]]; Earn-out Payment Amount