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PRACTICE NOTES
Relevant news analysis The Lexis®PSL Financial Services have published news analysis on the Market Abuse Regulation, which are set out in the links in the table below. Date News analysis Brief description of news analysis 1 June 2017 Examining the FMLC paper on the Market Abuse Regulation Christopher Poon, counsel at Akin Gump Strauss Hauer & Feld, examines and assesses the background, scope and main findings of the Financial Markets Law Committee (FMLC) paper concerning the uncertainty as to the financial instruments that fall within scope of the Market Abuse Regulation (MAR). 11 January 2017 The Market Abuse Regulation and its effect on asset and investment managers Deirdre Haugh, associate, and Monica Gogna, partner, at Ropes & Gray, look at how the Market
PRACTICE NOTES
Relevant news analysis The Lexis®PSL Banking & Finance team regularly publish analysis on EMIR, which are set out in the table below. Date News analysis Brief description of news analysis 6 February 2017 Documentation ‘processes’ overwhelming market participants Antony Bryceson, principal at AB Trading Advisors, says there is a growing feeling that the 1 March 2017 deadline for documenting, and hence achieving regulatory compliance with, the new variation margin (VM) requirements, is unachievable. 29 November 2016 EMIR Review This analysis considers the EMIR Review published by the European Commission pursuant to article 85(1) of the European Markets Infrastructure Regulation (EMIR) on 23 November 2016. The EMIR Review provides a summary of the areas where consultation responses and specific input received from various authorities have shown that action is necessary to ensure fulfilment of the objectives of EMIR in a more proportionate, efficient and effective manner. 7 October 2016 ESMA’s proposals for SFTR and EMIR technical standards On 30 September 2016, the European Securities and Markets Authority (ESMA) published a consultation paper on draft regulatory technical
PRACTICE NOTES
ARCHIVED: This Practice Note is archived and is no longer maintained. Relevant news analysis The Lexis+® UK teams regularly publish analysis on the Prospectus Regulation, which are set out in the table below. Date News analysis Brief description of news analysis 27 August 2024 Key points from UK prospectus regime reform consultation Law360, Expert analysis: On 26 July 2024, the FCA published a consultation paper proposing reforms to the UK prospectus regime. The proposed reforms have significant implications for initial public offerings and secondary equity issuances where securities are to be admitted to trading on a UK regulated market, such as the main market of the London Stock Exchange, or a UK multilateral trading facility, such as the Alternative Investment Market. Written by Vanessa Blackmore, partner, Ben Perry, partner, and Matthew Triggs, practice area associate, at Sullivan & Cromwell LLP. 27 January 2023 7 areas to look out for in the Edinburgh Reforms package Law360, Expert analysis: On 9 December 2022, UK Chancellor of the Exchequer Jeremy Hunt set out a
GLOSSARY
‘Newspaper Licensing Agency’ (NLA) is a publisher-owned rights licensing and database business. NLA provides access to and licenses the re-use of content on behalf of regional and national publishers. It manages the rights of thousands of print and web titles and acts as a supplier of original articles and online news stories to media monitoring agencies and their clients.
GLOSSARY
A hearing in criminal proceedings required when the defendant pleads guilty to an offence(s) but there is disagreement with the prosecution as to the material facts on which the defendant should be sentenced. This can occur when the accused pleads guilty on a specific basis that the prosecution does not accept.
NEWS
Law360: A group of retail workers has won a landmark equal pay case against high street fashion chain Next, as the Employment Tribunal ruled that it was unlawful for the company to pay sales consultants, who are mostly women, a lower rate than its warehouse employees.
GLOSSARY
Wired access networks which consist wholly or in part of optical elements and which are capable of delivering broadband access services with enhanced characteristics (such as higher throughput) as compared to those provided over already existing copper networks. In most cases NGAs are the result of an upgrade of an already existing copper or coaxial access network.
NEWS
Law360: The next government will need to make some urgent decisions on pension reforms to ensure future retirees are protected, the Institute for Fiscal Studies (IFS) has warned ahead of the 4 July 2024 general election.
GLOSSARY
Next of kin is a non-technical term used in legal practice to describe the person or persons most closely related to an individual, typically for contact, notification or basic decision-making when that individual cannot act for themselves or has died. It is widely used on hospital forms, police records and in administrative processes, but is not, in itself, a definitive legal status in England and Wales, Scotland, Northern Ireland or Ireland.The expression is not generally defined in primary legislation or common law as determining succession or decision‑making rights. Intestacy, inheritance and legal decision-making are instead governed by specific statutory schemes (for example, intestacy rules or mental capacity legislation), which may produce a different order of priority from everyday understandings of “next of kin”.In practice, next of kin will usually mean a spouse, civil partner, cohabiting partner or closest blood relative (such as a parent, child or sibling). Identifying next of kin is relevant for notifying relatives of death or serious illness, arranging funerals, and locating potential beneficiaries or personal representatives, but does not displace formal legal rights or duties created by wills, grants of representation, powers of attorney or guardianship orders.
NEWS
The Registers of Scotland has announced the next phase of delivering a fully digital registration service, the ‘Register Land and Property’ (RLP), which will be launching soon. The service aims to reduce the time and effort of protecting and registering deeds by reducing the number of form fields that need to be filled in and consolidating disconnected services into one.
NEWS
Commercial analysis: The OPSS (Office for Product Safety and Standards, the UK’s product safety regulator) proposed an overhaul of the UK’s current product safety regime under the previous government with the Product Safety Review (PSR) consultation in summer 2023. It described the current rules as ‘fast becoming outdated’ and unable to cater adequately for modern supply chains. Although further proposals did not emerge before the General Election, it has been announced that a new Product Regulation and Metrology Bill (the Bill) will form part of the government’s new legislative programme. Change is now therefore firmly on the horizon for product safety regulation in the UK. However, the substance of exactly what changes the government has planned will only be fleshed out in future secondary legislation. Harriet Hanks, counsel, Andrew Austin, partner, and Ananya Maheshwari, trainee associate, all at Freshfields Bruckhaus Deringer LLP, examine the recently introduced Product Regulation and Metrology Bill and its impact on existing product safety regulations.
NEWS
The Home Office has issued a press release confirming  the third tranche of the rollout of the Electronic Travel Authorisation (ETA) scheme. From 27 November 2024,visitors and short-term Creative workers in eligible non-European countries can apply for an ETA, which will be mandatory for travel to the UK from 8 January 2025. The scheme will extend to eligible Europeans from 5 March 2025, with the requirement coming into effect on 2 April 2025. By April 2025, all visitors and short-term Creative workers without a visa or existing UK immigration status will need an ETA. Priced at £10, the ETA permits multiple entries over two years (or until passport expiry) and allows stays of up to six months. This digital travel permission aims to enhance border security and efficiency, replacing physical immigration documents with a streamlined, pre-travel screening process. In addition,  the Home Office has updated the guidance on entry requirements for French school trips to the UK. As of 27 November 2024, groups of five or more children aged 18 or under participating in these trips will not require a visa or an ETA, regardless of their nationality.