The Investment Association (IA), the Personal Investment Management and Financial Advice Association (PIMFA) and the Alternative Investment Management Association (AIMA) have issued a recommendation encouraging firms to alter their fund settlement timings to T+2 on or before 11 October 2027. The recommendation aims to align fund settlements more closely with plans in the UK, EU and Switzerland to move securities trades to T+1 by the same date, and comes one year after the milestone move in the US to T+1 for securities trading.

The general rule of membership of the holding company is that a body corporate cannot be a member of a company that is its holding company.

ARCHIVED: This Practice Note has been archived and is not maintained. The remuneration of members is a contentious issue. The public service approach is that members enter politics to serve the community, not for financial gain, so the role should not attract levels of remuneration that could encourage people to stand for the wrong reasons. Related to this argument is the fear that higher remuneration could encourage people to become full-time career councillors, thereby limiting the amount of life and work experience accumulated by members. In contrast, the professional approach emphasises the view that the current basic allowances do not represent a living wage sufficient to allow anyone without independent means to serve on the council, and may even cause young and dynamic members to leave. Members’ allowances schemes in England The legislative framework for members’ allowances is contained in the Local Government and Housing Act 1989, the Local Government Act 2000 and the Local Authorities (Members’ Allowances) (England) Regulations 2003. Local authorities must establish a members’ allowances scheme that provides for the payment of a basic

This Practice Note discusses the changes brought to the system of regulation of standards of conduct from 1 July 2012 by the Localism Act 2011 (LA 2011). This Practice Note refers only to the law in England; note that different provisions apply to Wales. It deals with Disclosable Pecuniary Interests (DPI), the obligation to adopt a code of conduct and an Independent Person, how complaints should be dealt and what sanctions there are for breach of the code. The public has a right to expect high standards of conduct from their elected members. Prior to 1 July 2012, local authority (LA) members had to comply with the ethical standards framework under Part III of the Local Government Act 2000 (LGA 2000) that built on recommendations in the Third Report of Lord Nolan's Committee on Standards in Public Life (CSPL). LA 2011 amends LGA 2000, so that Part III only applies to Wales, and makes fundamental changes to the system of regulation of standards of conduct for elected

Council members for a principal area are elected by the local government electors for that area. Every non-metropolitan county is divided into electoral divisions, and every metropolitan and non-metropolitan district is divided into wards, each returning a specified number of councillors. The electoral arrangements for each principal council are reviewed from time to time or upon request. There must be a separate election for each electoral division or ward. Members serve a four-year term. Local authorities have three options for the frequency of elections: • whole council elections: members hold office for four years; the elections are held every fourth year; all the members are elected in each year in which the elections are held, and they all retire together • elections by halves: members hold office for four years; the elections are held every two years; one-half are elected in each year in which the elections are held, and one-half retire in each election year • elections by thirds: members hold office for four years; the elections are held in every three out of those

ARCHIVED: This Precedent has been archived and is not maintained. Basic Principles/Instructions for claiming 1 Statutory power for compiling an elected members’ allowance scheme The council, in exercise of the powers conferred by the Local Authorities (Members’ Allowances) (England) Regulations 2003, SI 1021/2003 makes this scheme. This scheme may be cited as the [council name] Members’ Allowances Scheme and shall have effect from [date], until the scheme is amended or a new scheme is adopted. 2 Definitions the Regulations • means the Local Authorities (Members’ Allowances) (England) Regulations 2003, SI 1021/2003 member • means a member of the [council] who is a councillor co-opted member • means a co-opted member of the [name] Committee year • means the 12 months ending with 31 March Approved duties • means any task approved by the Council for the purpose of, or in connection with, the discharge of its functions or of any of its Panels, District Assemblies or Communities 3 Basis

This glossary contains a summary and definition of some of the most common terms and phrases used in the context of company meetings and decision-making. A ABI See Association of British Insurers. Accounts meeting The particular general meeting of the company at which its annual accounts and reports are (or are to be) laid in accordance with CA 2006, s 437, most typically its AGM. Public companies must send out copies of their annual accounts and reports no later than 21 days before the date of the relevant accounts meeting (CA 2006, s 424). For further information see Practice Note: Publication and laying of annual accounts and reports. Accounting reference period (ARP) Usually the period of twelve months over which a company draws up its accounts. If the company's accounting period does not coincide with its period of account or if the accounting period spans more than one financial year, the profits must be apportioned (see accounting reference date (ARD) below and Practice Note: Basic principles of corporation tax—overview). Accounting

1 Members’ nomination rights 1.1 Subject to section 145 of the Companies Act 2006 and in accordance with the provisions of this article [1], any shareholder (or where the share is held jointly, the person first named in the register) shall be entitled to nominate any other person or persons to exercise some or all of his, her or its rights as shareholder of the Company and at any time to revoke such nomination. 1.2 Any nomination under article [1.1] shall: 1.2.1 be given by notice in writing to the Company; 1.2.2 specify the full name and address of the nominee(s); 1.2.3 be countersigned by or on behalf of the nominee(s)

Voluntary process to wind up a company which can only be used where the company is solvent.

Pensions analysis: The Pensions Ombudsman has rejected a complaint about a return of pension paid by mistake. Martin Scott of gunnercooke LLP looks at the decision.

An image, video, piece of text, or something similar, that parodies or provokes humour, that is usually spread virally on the internet by internet users who sometimes adapt or vary the meme when passing it on.

Date: [insert date] Introduction In the UK the law on money laundering, terrorist financing and proliferation financing is governed in part by the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 (MLR 2017), SI 2017/692, as amended. They necessitate amendments to our existing anti-money laundering (AML), counter-terrorist financing (CTF) and counter-proliferation financing policy, controls and procedures. Money laundering is the process through which the true origin and ownership of the proceeds of crime are changed so that the proceeds appear legitimate. Terrorist financing is providing or collecting funds, from legitimate or illegitimate sources, to be used to carry out an act of terrorism. Proliferation financing is the act of providing funds or financial services for use, in whole or in part, in the manufacture, acquisition, development, export, trans-shipment, brokering, transport, transfer, stockpiling of, or otherwise in connection with the possession or use of, chemical, biological, radiological or nuclear (CBRN) weapons, including the provision of funds or financial services in connection