The cannabis plant can be used to produce a wide range of products with versatile purposes from recreational intoxication to sartorial or medicinal. The level of psychoactive constituents and its purpose determine how a product will be regulated according to the potential associated health risks and benefits. Changing social attitudes, claims of significant therapeutic benefit and a buoyant commercial market have led many countries to further investigate the safety profile of various cannabis-based products and consider permitting medical access. The World Health Organization (WHO) in June 2018 reported that cannabidiol (CBD) has therapeutic benefit and does not lead to addiction or abuse. The UK introduced legislative changes in November 2018 to allow strictly limited access to cannabis for medical treatment in extreme circumstances of unmet need. The government actively continues to review the situation. This Practice Note clarifies the current UK regulatory frameworks governing cannabis, hemp and CBD products, and unpicks these regulations from the evolving governance of patient access to cannabis-based medicinal products resulting from changes to the legal classification

This Practice Note examines the regulation of key investor information documents (KIIDs) under Articles 78–82 of Directive 2009/65/EC (the UCITS Directive), Chapter 4 of the Financial Conduct Authority (FCA) Handbook on Collective Investment Schemes (COLL 4), and Regulation (EU) 583/2010 (the KII Regulation) which sets out in minute detail how a KIID must be presented. It looks at the form and content of a KIID; format and sequence; how to provide a KIID to an investor and the consequences of failing to meet the KIID requirements. Following the Brexit transition period the KII Regulation has been retained in the UK with onshoring changes to ensure the regime can function in the UK as set out in Retained Regulation (EU) 583/2010 (the text of which is reproduced in COLL Appendix 1 UK KII Regulation). For more information on investor information requirements in relation to UCITS, including prospectus, annual report and valuation and pricing information, see Practice Note: Key provisions of UCITS—investor information. Obligation on UCITS managers and KII-compliant NURS managers As a result of Directive 2009/65/EC

This Practice Note considers the legislative and regulatory requirements for UK trading venues, including the recognised investment exchange (RIE) regime and relevant provisions of Assimilated Regulation (EU) 600/2014 (UK MiFIR) and the Financial Conduct Authority (FCA) Handbook. The UK's regime for the regulation of regulated markets (RMs) is the recognised investment exchange (RIE) regime, which was introduced by the Financial Services Act 1986 (FSA 1986) and updated by the Financial Services and Markets Act 2000 (FSMA 2000). The recognition system and obligations for investment exchanges are contained in FSMA 2000, Pt XVIII and the Financial Services and Markets Act 2000 (Recognition Requirements for Investment Exchanges and Clearing Houses) Regulations 2001, SI 2001/995, as amended (the Recognition Requirements Regulations). For additional information on the RIE regime, see Practice Note: Recognised investment exchanges. Definition of a UK trading venue A ‘UK trading venue’ is defined in UK MiFIR as: • a UK regulated market (RM) • a UK multilateral trading facility (MTF), or • a UK organised trading facility (OTF) What is a multilateral system? A 'multilateral

Background Artificial intelligence (AI) is developing more rapidly than the laws designed to govern it. In response, the EU and the UK have chosen different regulatory paths. The EU has introduced Regulation (EU) 2024/1689 (the EU AI Act), a detailed, cross-sector framework built around legally binding obligations and a structured risk-based model, as now amended by Regulation (EU) 2026/1744, the Digital Omnibus on AI. The UK has taken a more flexible approach, relying on existing regulators and high-level principles to guide the responsible development and use of AI. These differing strategies present practical challenges for businesses operating across both markets, who are faced with navigating differences in scope, compliance expectations and enforcement risk. Understanding how the two regimes compare is essential for identifying areas of alignment, establishing effective governance structures, and informing procurement, product development, and broader market strategy. This Practice Note explains and compares side-by-side the core features of each regime. What’s happening in the UK? The 2023 AI White Paper and government response endorsed five cross-sector principles (safety/security/robustness; transparency/explainability; fairness; accountability/governance;

Background to emissions trading in the EU and the UK Emissions trading is a market-based approach to controlling pollution. It aims to reduce emissions of carbon dioxide and other harmful greenhouse gases (GHGs) which result in climate change. Emissions trading in GHGs is also known as carbon trading. Emissions trading allows parties to buy and sell rights to emit certain pollutants through emissions trading schemes (ETS). The objective is to put a price on emissions so that companies become encouraged to help prevent climate change. If the cost of the rights is sufficiently high, companies should be incentivised to reduce their emissions, for example by becoming more energy efficient. Emissions trading is high on the EU’s and UK government’s priority list. According to the European Commission’s report on the EU Emissions Trading System (EU ETS) the growth in GHG emissions needs to be stopped by 2020 at the latest. The EC has also produced a report on climate change which states that the EU has put in place measures to cut its

This Practice Note guides lawyers on what constitutes consultant lobbying, compliance, offences and penalties under Part 1 of the Transparency of Lobbying, Non-Party Campaigning and Trade Union Administration Act 2014 (TLNPCTUAA 2014) (also referred to as the Lobbying Act). What does the Lobbying Act do? TLNPCTUAA 2014 is split into three distinct parts (with some supplementary provisions) as follows: • TLNPCTUAA 2014, Pt 1 establishes a register of ‘consultant lobbyists’ (broadly those making representations to the government on behalf of clients) and sets up a registrar to supervise and enforce the registration requirements • TLNPCTUAA 2014, Pt 2 amends provisions of electoral law relating to non-party campaigning (individuals or organisations campaigning ahead of elections who are not themselves candidates or parties). For more guidance, see Practice Note: Non-party campaigning • TLNPCTUAA 2014, Pt 3 amends provisions of the Trade Union and Labour Relations (Consolidation) Act 1992 in relation to trade unions’ obligations to keep their lists of members up to date. For details and further reading, see: Union status and obligations—overview Each Part

Scope of this Practice Note This Practice Note sets out the regulatory regime for consumer buy-to-let (CBTL) lending under the Mortgage Credit Directive Order 2015, SI 2015/910 (MCD Order 2015), which transposed the EU Mortgage Credit Directive (Directive 2014/17/EU) (the EU MCD) into the UK regulatory framework prior to the UK’s decision to leave the EU. The MCD Order 2015 was published on 25 March 2015 and became fully effective on 21 March 2016, the deadline by which all Member States were required to implement the EU MCD. For a flowchart outlining whether the CBTL registration requirements apply, see: Registration requirements for CBTL mortgages—flowchart. For an overview of the UK’s implementation of the EU MCD, see Practice Note: Mortgage Credit Directive—UK implementation and the post-Brexit regime. For an overview of the EU MCD regime, see Practice Note: EU Mortgage Credit Directive—essentials. MCD requirements on CBTL mortgages The EU MCD established an EU-wide regulated mortgage regime applicable to both secured credit and home loans with the objective of fostering a single European

Regulation (EC) No 1223/2009 on cosmetic products, also known as the EU Cosmetic Products Regulation (EU CPR), is the main EU regulatory framework for cosmetic products placed on the EU market. This Practice Note explains the scope of the EU CPR and its key requirements. It provides details on the notion of ‘responsible person’ who must ensure that the product is safe and meets all the requirements of the EU CPR at all stages of the development of the cosmetic product. It also explains the ban on animal testing, the cosmetic labelling requirements and the rules governing product claims. This Practice Note also considers the recent initiative of the European Commission to revise the EU CPR. Scope The EU CPR is applicable from 11 July 2013, apart from Article 15(1) and (2) which is applicable from 1 December 2010 and Article 16(3) second subparagraph which is applicable from 11 January 2013. As the Regulation applies directly in EU Member States, no implementation steps had to be taken by EU Member States.

This Practice Note provides an overview of the UK regulatory framework for cosmetics. It sets out the legal definition for a cosmetic product and explains the requirements for placing a cosmetic product on the market in Great Britain (GB) and ensuring its safety. It also explains the restrictions for certain substances, the ban on animal testing, the rules governing cosmetic product claims, and the enforcement authorities in the UK. This Practice Note also considers the position in Northern Ireland (NI), which is subject to the EU requirements governing cosmetics, to the extent it differs from the position in the EU. UK regulatory framework for cosmetics The UK regulatory framework mainly derives from Regulation (EC) 1223/2009 on cosmetic products, also known as the EU Cosmetic Products Regulation (EU CPR). For information on the EU regulatory framework for cosmetics, see Practice Note: Regulation of cosmetic products in the EU. The EU CPR was directly applicable in all EU Member States (which at the time included the UK), meaning that no domestic regulation was required

A distributed ledger is a database that can securely record financial, physical or electronic assets for sharing across a network through entirely transparent updates of information. Its first incarnation was ‘blockchain’ in 2008. Blockchain, which has been known principally for the role it plays in enabling Bitcoin and other cryptocurrencies and crypto tokens such as Etherium, is a technology viewed by proponents as capable of revolutionising financial services. On one level, blockchain is a database for recording records of transactions or other information. On another, blockchain is a tool capable of powering a multitude of applications that could fundamentally change how financial services are currently provided. Definition of distributed ledger technology It is difficult to come across a unified explanation of how one should look at the concept of distributed ledger technology (DLT) but in essence it can be described as a set of technological solutions that enables cryptographically secured records, or ledgers, of electronic transactions to be maintained by a shared or ‘distributed’ network of participants (so-called ‘nodes’) and not

A healthcare provider in the UK may be subject to the supervision of a number of regulatory authorities and required to comply with their requirements. This Practice Note is intended to give a brief overview of such regulatory authorities. It should be noted that UK healthcare is devolved through the four administrations (England, Northern Ireland, Scotland and Wales) and there is variation in regulation between each administration. While there are many underlying similarities, there are also a number of differences and it should be noted that the scope of this summary covers the position in England only. This note focuses on healthcare as a service, rather than the regulation of medicinal products and medical devices and also does not directly cover the regulation of care/care-adjacent services such as children’s homes, fostering services and prison healthcare, though some of these services are also regulated in part by bodies and regulations identified in this note. Regulation Regulation of healthcare in England is complex. Responsibilities for regulating specific aspects of healthcare are delegated across several bodies. Department