The Scottish Charity Regulator (OSCR) has released updated guidance on automatic disqualification rules for charity trustees, in preparation for forthcoming legislative changes in summer 2025. The current framework, established under the Charities and Trustee Investment (Scotland) Act 2005, will be expanded by the Charities (Regulation and Administration) (Scotland) Act 2023. The new legislation will extend disqualification criteria to encompass individuals convicted of terrorism offences, those listed on the sex offenders register, and individuals in senior management positions within charities. OSCR advises all charitable organisations to review the updated guidance and incorporate it into their trustee recruitment processes.

The Office of the Scottish Charity Regulator (OSCR) has updated its OSCR Online platform by adding new features to its online submission system to accommodate non-UK based trustees and corporate trustees. These updates follow the 30 June 2025 mandate requiring all Scottish charities to submit trustee information via OSCR Online.

Oslo and Paris Convention for the Protection of the Marine Environment of the North-East Atlantic: The OSPAR Convention impacts on the disposal of liquid effluent into the marine environment.

OSPAR The OSPAR Convention for the Protection of the Marine Environment of the North-East Atlantic 1992 (OSPAR) is an international agreement that has its origins in the 1972 Oslo Convention against dumping and the Paris Convention of 1974, which broadened matters covered by the Oslo Convention to include land-based sources of marine pollution and the offshore industry. These two conventions were ultimately unified and extended by OSPAR. An annex on biodiversity and ecosystems was adopted in 1998 to cover non-polluting human activities that can adversely affect the sea. For more information, see Practice Note: Convention for the Protection of the Marine Environment of the North-East Atlantic (OSPAR)—snapshot. OSPAR addresses all sources of pollution of the marine environment and the adverse effects of human activities upon it, takes into account the precautionary principle and strengthens regional co-operation. For these purposes, ‘pollution’ is defined as: ‘the introduction by man, directly or indirectly, of substances or energy into the maritime area which results, or is likely to result, in hazards to

Over the Counter

What does this Practice Note cover? The Practice Note: OTC and exchange traded derivatives—key features and concepts: • explains some of the key concepts underlying non-cleared over the counter (OTC) derivatives, exchange traded derivatives (ETDs) and cleared OTC derivatives, including: ◦ derivatives (see 'Derivatives' in OTC and exchange traded derivatives—key features and concepts—Key concepts) ◦ trading and dealing (see 'Trading and dealing' in OTC and exchange traded derivatives—key features and concepts—Key concepts) ◦ exchanges (see 'Exchanges' in OTC and exchange traded derivatives—key features and concepts—Key concepts) ◦ margin (see 'Margin' in OTC and exchange traded derivatives—key features and concepts—Key concepts), and ◦ clearing (see 'Clearing' in OTC and exchange traded derivatives—key features and concepts—Key concepts) • describes the key features of the three types of derivatives—see OTC and exchange traded derivatives—key features and concepts—Key features of non-cleared OTC derivatives, ETDs and cleared OTC derivatives explains the reasons for the increasing importance of cleared OTC derivatives—see OTC and exchange traded derivatives—key features and concepts—Increasing importance of cleared OTC derivatives, and • explains

What does this Practice Note cover? There are two broad types of derivatives: • over the counter (OTC) derivatives, and • exchange traded derivatives (ETDs) OTC derivatives may be sub-divided into: • non-cleared OTC derivatives, and • cleared OTC derivatives, which have features in common with both non-cleared OTC derivatives and ETDs This Practice Note: • explains some of the key concepts underlying non-cleared OTC derivatives, ETDs and cleared OTC derivatives • describes the key features of the three types of derivatives • explains the reasons for the increasing importance of cleared OTC derivatives, and • explains and compares the three types of derivatives, with focus on: ◦ the parties to each type of derivative ◦ the sub-types of derivatives, or derivative products, which can be entered into in non-cleared OTC, ETD and cleared OTC form, and ◦ the ways in which the three types of derivatives are traded Practice Note: OTC and exchange traded derivatives—documentation further explains and compares non-cleared OTC derivatives, ETDs and cleared OTC derivatives, with focus

The European Commission is consulting on a delegated regulation setting out identifying reference data to be used with regard to over-the-counter (OTC) interest rate swaps and OTC credit default swaps for the purposes of the transparency requirements laid down in Article 8a(2), and Articles 10 and 21 of the Markets in Financial Instruments Regulation (EU) 600/2014 (EU MiFIR). Responses are sought by 10 July 2024.

The Offshore Transmission System Operators Cooperation (OTC), together with WindEurope and the Hydrogen Networks of the Northern Seas (HyNOS), has published a Cooperation Paper setting out an integrated framework for regional planning of cross-border offshore energy infrastructure. The paper proposes practical steps to align electricity grid, wind, and hydrogen network planning in the Northern Seas, fostering a unified European approach to offshore energy system design. It emphasises the need for structured stakeholder interfaces, joint scenario development, and cost-benefit assessment processes that link transmission operators, offshore wind developers, and commercial infrastructure investors.

The European Securities and Markets Authority (EMSA) has issued a public statement in relation to the transition to the new Designated Publishing Entity (DPE) regime for publication of over-the-counter (OTC)-transactions for post-trade transparency purposes, as introduced by the MiFIR review. Considering the need to ensure an orderly transition to the new regime, ESMA and the national competent authorities (NCAs) have agreed on a two-step approach: first, ESMA starts publishing the register on 29 September 2024; and second, the new regime becomes fully operational on 3 February 2025.

The Office of Trade Sanctions Implementation (OTSI) and the Department for Business and Trade (DBT) have published guidance on compliance with banknote sanctions under the Republic of Belarus (Sanctions) (EU Exit) Regulations 2019, SI 2019/600 and the Russia (Sanctions) (EU Exit) Regulations 2019, SI 2019/855. The guidance sets out prohibitions on exporting, supplying, delivering or making available eight specified currencies to persons connected with Belarus or Russia, or for use in those countries. The eight currencies are: (1) Czech koruna; (2) Danish krone; (3) euro; (4) Hungarian forint; (5) Polish zloty; (6) pound sterling; (7) Romanian leu and (8) Swedish krona. The Belarus prohibitions came into force on 9 July 2023 and the Russia prohibitions on 15 July 2022. Sanctioned activity includes sending banknotes by post, taking them on one's person or in luggage and facilitating cash withdrawals or currency exchanges. A personal use exception permits travellers to carry up to £10,000 per journey for essential needs such as accommodation, food and drink, medical services and transport. The exception does not apply where the value of banknotes exceeds £10,000 for a single journey, or where banknotes are intended for commercial, investment or professional purposes, or for transfer to family and friends resident in Belarus or Russia. Financial services providers and money service businesses are reminded of their reporting obligations.

The Office of Trade Sanctions Implementation (OTSI) has announced updates to its online licensing service for sanctioned trade activities. The changes include the introduction of GOV.UK One Login and a new ‘save and return’ feature, both aimed at improving the licence application process.