Trainees Development tool Trainee name Date completed Professional Skills Course (PSC)—Financial and Business Skills core element [State which trainees have undergone this training and in the next column, for each trainee state when] PSC

Includes the discharge of a financial obligation for which the target is wholly or partly responsible.

Duty of the court to consider a clean break Although there is no presumption in favour of there being a financial clean break between parties on divorce, the court is under a duty to consider whether it would be appropriate to exercise its powers so that the financial obligations of parties towards each other can be terminated. On exercising its powers, the court must consider how the financial obligations of each party towards the other will be terminated as soon after the final order or decree as the court considers just and reasonable. Section 25A of the Matrimonial Causes Act 1973 (MCA 1973) (and the Civil Partnership Act 2004 (CPA 2004) equivalent provision) is silent as to the circumstances in which it may be appropriate to make a clean break order. However, it states that if the court decides to make a periodical payments or secured periodical payments order, it must consider the appropriateness of limiting its term to what is ‘sufficient’ to enable the recipient to adjust ‘without undue hardship’ to the end of their

Means either cash, credit claims or financial instruments as defined by the Financial Collateral Arrangements (No 2) Regulations (SI 2003/3226, reg 3).

This Checklist sets out the steps to be taken when preparing a financial consent order. It includes guidance on recitals including definitions, agreements and undertakings, obtaining the client’s instructions and ensuring that the client understands the implications of the consent order and variation. It also details the process for submitting the consent order application to the court. See also Practice Notes: General principles of consent orders and Drafting the terms of a financial consent order, and Precedents: Submitting a financial consent order—client guide and Steps to take after reaching a financial agreement—client guide. Standard orders have been issued by the President of the Family Division, the use of which is not compulsory but strongly encouraged. See Precedent: Standard order 2.1—financial remedy order. Where the applicant is legally represented, the consent order must be submitted to the court using the online financial remedy consent order service administered by HM Courts and Tribunal Service (HMCTS) via MyHMCTS (unless an exception applies)—see Practice Note: Online applications for financial consent orders. There is a separate online system for dealing with contested applications,

Private Client analysis: In Ninian v Findlay and others, the High Court granted Sarah Ninian, who assisted her husband Alex Ninian with ending his life, relief against forfeiture, allowing her to inherit his estate and receive his share of their jointly owned assets. Toby Bishop, barrister at Field Court Chambers, who acted as a junior counsel for Mrs Ninian, discusses how the forfeiture rule is engaged, its effects and why relief was granted.

Financial covenants are financial undertakings by the borrower and usually expressed as an obligation on the borrower to comply with certain ratios.

The term 'financial crime' is defined in section 1H(3) of the Financial Services and Markets Act 2000 (FSMA 2000) as any kind of conduct'>criminal conduct relating to money or to financial services or markets, including any offence involving: • fraud or dishonesty • misconduct in, or misuse of information relating to, a financial market, or • handling the proceeds of crime This definition is to be construed widely and would include offences relating to fraud, tax evasion, financial sanctions, bribery, corruption, money laundering, or even breaches of data security as well as financial services offences.

The provisions of the United Kingdom General Data Protection Regulation (UK GDPR), Assimilated Regulation (EU) 2016/679 and the Data Protection Act 2018 (DPA 2018) create some challenges under the anti-money laundering (AML), counter-terrorist financing (CTF) and counter-proliferation financing regime, including: • identifying a lawful ground for processing personal data • complying with information requirements • protecting the client data you collect during the client due diligence (CDD) process • sharing client data with law enforcement agencies, eg by making suspicious activity reports, and • data subject access requests and tipping-off offences This Practice Note begins with a brief overview of the data protection regime and its principles and then explains these challenges, providing practical guidance on how to approach them. It reflects the requirements of the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 (MLR 2017), SI 2017/692, the Proceeds of Crime Act 2002 (POCA 2002) and the Terrorism Act 2000 (TA 2000). This Practice Note provides guidance which is of general application. It also

This Practice Note is a horizon scanner tracking key future developments in the field of financial crime and sanctions compliance in England and Wales. It provides details of key dates for your diary (including forecasted dates where the actual date is unknown) and relevant commentary in relation to key developments, including legislation, consultations, etc. This horizon scanner does not cover past developments, such as legislation fully in force or concluded consultations. For details of past developments in the field of financial crime compliance, see Practice Notes: • Financial crime compliance tracker—2026 • High-risk third countries tracker • Corporate criminal liability reform—tracker • UK sanctions regimes currently in force • OFSI General Licence tracker Anti-money laundering (AML), counter-terrorist financing (CTF), and counter-proliferation financing What’s happening? When? What’s the impact? Find out more FATF Plenary The FATF has concluded its June 2026 plenary, resulting in changes to its AML/CTF monitoring lists. Bosnia and Herzegovina and Iraq have been added to the list of jurisdictions under increased monitoring the ‘grey list’, while Algeria and Namibia have been removed

This Practice Note provides a summary of the key financial crime and sanctions compliance developments which have impacted compliance professionals in England and Wales in 2026, including legislation, consultations, and other notable developments. For information on ongoing and expected developments, see Practice Note: Financial crime compliance horizon scanner—2026. Anti-money laundering (AML), counter-terrorist financing (CTF), and counter-proliferation financing What’s happened? When? What’s the impact? Find out more Economic Crime Levy changes HMRC added information about the bands for financial years from 1 April 2026, and updated guidance on examples of who must submit a return. 30 September 2026 Relevant businesses should check the bands and updated guidance. HMRC Guidance: Submit a return for the Economic Crime LevyHMRC Guidance: Pay your Economic Crime Levy SRA seeks case studies for UK’s FATF Mutual Evaluation The Solicitors Regulation Authority (SRA) encouraged law firms to submit case studies to HM Treasury (HMT) to support the UK’s forthcoming Financial Action Task Force (FATF) Mutual Evaluation. HMT sought examples from 2022 onwards demonstrating how firms’ AML and wider economic crime

Corporate Crime analysis: This article reviews how the UK’s financial crime landscape has changed so far in 2026. It considers both legal developments, including new anti-money-laundering rules and the continuing rollout of corporate transparency reforms, and the policy shift towards more active enforcement and asset recovery. It explores what these changes mean in practice for corporate crime practitioners, and the issues they should watch out for as the reforms take effect. Written in partnership with Sailesh Mehta, barrister, and Basanti Mardemootoo, junior barrister, of Red Lion Chambers.