A round-up of other developments, which have not been covered in full by the LexisNexis Financial Services practical guidance team but may nevertheless be of interest.

A round-up of other developments, which have not been covered in full by the LexisNexis Financial Services practical guidance team but may nevertheless be of interest.

The following Financial Services resources, providing useful practical commentary, legislation, rules and guidance for financial services lawyers, whether working in private practice or in-house, are available in Lexis+® UK. They are referenced and linked to in the financial services content in Lexis+® UK. Please note, however, the titles listed can only be accessed with the relevant Lexis+® UK subscription(s). Title Summary Who should use this resource? Annotated FSMA 2000 (Archive) This resource provides active links to material supporting all selected selections of the Financial Services and Markets Act 2000 (FSMA 2000). It also provides commentary on the individual sections and how they have been updated over time. The guide is written by an author team under the general editorship of Michael Blair QC. This resource should be of interest to all financial services lawyers who advise on all aspects of FSMA 2000 which is the key statute that regulates the financial services industry in the UK. Butterworths Securities & Financial Services Law Handbook This resources brings together the primary and secondary legislation that forms the regulatory

Established in April 2009 at the G20 summit in London, the Financial Stability Board (FSB) is the successor to the Financial Stability Forum (FSF). The FSB was created after G20 leaders called for an expanded membership of the FSF to strengthen its effectiveness as a mechanism for national authorities, standard-setting bodies (SSBs) and international financial institutions (IFIs), and oversee the implementation of strong regulatory, supervisory and other financial sector policies. The FSB operates as a formalised international convening and co-ordinating body based in Basel, Switzerland. It promotes international financial stability by working through and co-ordinating national competent authorities and international standard-setting bodies as they develop regulatory, supervisory and other financial sector policies. In particular, it seeks to strengthen financial systems and increase the stability of international financial markets, bringing together national authorities responsible for financial stability in significant financial sectors, namely central banks, treasuries, supervisory agencies, sector-specific international grouping of regulators and supervisors, IFIs and SSBs. Status of the FSB Despite being described by Tim Geithner, former Secretary of the Treasury of the United States, as the 'fourth

The Financial Stability Board (FSB) is an international body that monitors and makes recommendations about the global financial system. The FSB was established to coordinate the work of national financial authorities and international standard setting bodies, in order to develop and promote the implementation of effective regulatory and supervisory policies.

An index of stocks and shares.

Financial abuse of the elderly by carers or members of their own family sadly seems to be on the increase. This can take the form of: • people pilfering money or assets from vulnerable members of society • getting online access to the victim’s bank account and taking money that is not for the benefit of the victim, • an elderly person giving someone they trust their PIN number because they have difficulty getting to a cash point, and then that person abuses their trust and takes some cash for themselves • vulnerable adults being encouraged or pressurised into changing their Wills • situations where people are pressurised into signing over thousands of pounds worth of land or property to relatives who are not genuinely thinking of the elderly person’s best interests but their own • losing money to telephone scammer who claim a bank account has been compromised and claim money needs to urgently be moved to a new account or other telephone scams such as taking control of the person’s telephone to gain access to banking applications

This Practice Note summarises the requirements and highlights the key issues that relate to the financial accounts. What is financial accounting in brief? Local authorities (LAs) are very complicated bodies with complicated transaction which requires to be accounted for. In 2009, HM government decided to adopt International Financial Reporting Standards (IFRS) which are used by FTSE 350 Companies and are regarded as ‘gold standard’. These standards are long, detailed and very ‘rules based’. These standards are over 2,000 pages long. To add further complexities, LAs must also cope with the requirements of the Chartered Institute of Public Finance and Accountancy (CIPFA) Accounting Code of Practice which is updated on an annual basis. The Code adopts IFRS as specified but then makes changes to introduce the concepts of statutory overrides and other adjustments which prevent the impact of IFRS accounting being charged against the General Fund and subsequently the cost of public services to the council tax, business rates and wider taxpayers. These largely relate to capital items and long-term investments, more recently further changes have been

Law360, London: A London judge sentenced a former financial adviser to eight years in prison on 7 June 2024 after he was convicted of siphoning £5.8m in secret commission payments from an investment fund in a legal financing fraud.

This Practice Note describes who can be appointed as financial guardian to an adult over the age of 16 in Scotland and the steps required to complete the appointment. The duties of a financial guardian, management and inventory plans and termination of a guardianship are also covered. For general information on guardianships and the process involved in applying for them, see Practice Notes: Adults with Incapacity (Scotland) Act 2000, Guardianship applications in Scotland—pre-application matters and Guardianship applications in Scotland—court process. General principles Any person to be appointed under the Adults with Incapacity (Scotland) Act 2000 (AI(S)A 2000) must satisfy the principles set out in AI(S)A 2000, s 1 which are summarised as follows: • the appointment must benefit the adult • any intervention must be the least restrictive option in relation to the freedom of the adult • account must be taken of the adult’s wishes, past and present • so far as reasonable the views of relevant other parties must be taken into account • the adult should be encouraged to exercise his

This document provides general guidance regarding an application to court to resolve your financial arrangements on divorce or dissolution. Your family lawyer will be able to provide specific advice based on your circumstances. Who can apply to court? Either spouse or civil partner can make an application to court to resolve financial disputes arising from divorce or civil partnership dissolution. The person making the application is the applicant and the other person is the respondent. What happens when the application is received by the court? When either of you makes the application to court, the court automatically generates certain standard directions to help progress your case. These are: • the date and time for the first appointment at court (sometimes referred to as a first directions appointment or FDA) • that five weeks before that appointment you must each submit to court and exchange a completed financial disclosure form (Form E) giving full details of your financial circumstances, and • that two weeks before that appointment, the following documents must be filed with the court: — in relation to any property currently

This document provides general guidance regarding financial provision for children. Your family lawyer will be able to provide specific advice based on your circumstances. Child maintenance Under the law relating to child maintenance (also known as child support), the court is not able to make an order for child maintenance other than by consent (agreement), save where certain exceptions apply. Orders for maintenance for children made by consent are only binding for one year, after which point either parent can apply for a calculation by the Child Maintenance Service (CMS). If you and the child’s other parent cannot agree the appropriate level of child maintenance, either of you can apply to the CMS. The process for determining how much the non-resident parent should be paying as child support can be summarised as follows: • child maintenance is assessed on a percentage of the non-resident parent’s income, depending on the number of children they have to support • there is a reduction applied in accordance with how many nights each year the child or children stay with the paying parent (1/7 for