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PRACTICE NOTES
The EU has long been committed to developing a common regulatory framework for different categories of workers across Member States. Over the years, that framework has expanded from its original focus on the free movement of workers to cover a broad range of issues, including non-discrimination legislation, the regulation of salaried work, worker protection in restructuring situations, and the legal treatment of atypical and flexible forms of work. In this regard, EU law now combines market integration principles with increasingly detailed employment rules, implemented through legislation, social dialogue instruments and case law. This Practice Note explores the regulatory framework applicable to different worker categories under EU law, focusing on the main legal instruments, the key concepts and protections they introduce, and the more recent developments affecting new and evolving forms of work. For information on: • EU social security coordination, see Practice Note: Social security coordination under EU law • free movement, see: EU free movement of persons (EU Law)—overview • non-discrimination legislation, see Practice
GLOSSARY
A regulatory disclosure service provider which disseminates information an issuer is required to disclose under the Listing Rules, DTR and articles 17 to 19 of the UK Market Abuse Regulation. Also called a primary information provider. The FCA must approve a person to act as a primary information provider under FSMA 2000, s 89 and maintains a list of approved primary information providers on its website.
PRACTICE NOTES
This Practice Note looks at the regulatory information services regime through which an issuer whose transferable securities are admitted to trading on a UK regulated market (issuer) must disseminate regulated information to the public. In particular, it looks at the role of the regulatory information service (RIS) and primary information provider (PIP) and outlines the key continuing obligations, the approval process and supervisory regime for a PIP. What is regulated information? Regulated information is all information which an issuer, or any other person who has applied for the admission of financial instruments to trading on a regulated market without the issuer's consent, is required to disclose under: • the Disclosure Guidance and Transparency Rules (DTR), or • articles 17 to 19 of Assimilated Regulation (EU) 596/2014 (UK Market Abuse Regulation), or • the UK Listing Rules (UKLR) This includes inside information, financial results and disclosures of trading in shares. Regulated information must be disseminated in a manner which ensures that it is capable of being disseminated
GLOSSARY
The regulatory objectives are set out in section 1 of the Legal Services Act 2007
PRACTICE NOTES
This Practice Note explains the Financial Conduct Authority’s (FCA’s) regulatory reporting requirements in Chapter 16 of its Supervision sourcebook (SUP 16) for firms carrying out regulated consumer credit activities. It covers (1) the periodic consumer credit data items (CCR returns), which vary depending on a firm’s permissions and activities, and (2) the separate product sales data (PSD) reporting requirements that apply to in-scope lenders. It also reflects changes made in the FCA’s Policy Statement 25/3 (PS25/3) (published in May 2025), which introduced a new regulatory reporting return for consumer credit firms engaging in one or more of the following regulated activities: credit broking, debt adjusting, debt-counselling and providing credit information services. What are the reporting requirements? There are two levels of reporting, depending on the nature of a firm’s permissions: • full permission firms must submit one or more CCR returns relevant to their permissions and activities (see Full permission firms below) • limited permission firms generally have more limited reporting requirements (see Limited permission firms below) Information is submitted on the FCA’s suite of
PRACTICE NOTES
ARCHIVED: This Practice Note was archived and is not maintained. This Practice Note gives an overview of the key regulations and the legislative framework applicable to in-house banking and finance lawyers. It includes regulations and the legislative framework that cover: • lending transactions • derivatives transactions • debt capital markets, and • structured products and securitisation For further information on these types of transactions and the overall applicable regulations and legislative framework, see Practice Notes: • The impact of regulatory and legal changes on facilities agreements • Regulatory issues in lending transactions—overview • European regulation of the debt capital markets—one minute guide • US regulation of debt capital markets—one minute guide • EU and UK regulation of derivatives—one minute guide • EU and UK regulation of structured products and securitisation—one minute guide, and • US regulation of structured products and securitisation—one minute guide Regulations and/or legislative framework Subject Description Why is it relevant and who is it relevant for? Useful links Bank Recovery and Resolution Directive (BRRD) (Directive 2014/59/EU) LendingDebt
NEWS
MLex: Regulatory uncertainty and a resource intensive, drawn-out application process is dissuading cryptoasset businesses from registering in the UK, an industry group told MLex after fresh data showed crypto applications halving in the UK over the last three years.
NEWS
Public Law analysis: The Secretary of State made a deportation order against the Appellant because of his serious criminal convictions. The Appellant applied for revocation of the deportation order, following which there was a six-year delay during which the Appellant was involved in legal proceedings concerning other immigration matters. Following their conclusion, the Secretary of State refused to revoke the deportation order. The Appellant appealed, arguing that he was rehabilitated and that this gave rise to very compelling circumstances allowing him to resist deportation. The Court of Appeal dismissed his appeal because in the assessment of the proportionality of deportation of a serious offender, rehabilitation alone is of little weight and rarely of great weight when balanced against the public interest in deportation. Further, the Upper Tribunal (UT) had been correct to remake the decision of the First-tier Tribunal (FTT) rather than remitting the appeal for a fresh hearing before the FTT. Written by Denis Edwards, barrister, Normanton Chambers.
PRACTICE NOTES
A third version of the Rehabilitation Code was published in September 2015 and became substantially operational on 1 December 2015. Reform of the Rehabilitation Code The 2007 Rehabilitation Code was a revision and simplification of the Code which was first introduced in 1999. Following the Jackson reforms a working party was set up to review the Rehabilitation Code 2007. The main points of note in the 2015 Code (the Code) are: • there is a separate section for lower-value claims, defined as claims with a value of no more than £25,000 • in cases involving more serious injuries, rehabilitation case managers are encouraged to work proactively with treating NHS clinicians (para 2.7) • a Guide for Case Managers and those who commission them has been published alongside the Code • an addendum for claims within the Official Injury Claims (OIC) portal Purpose of the Rehabilitation Code The purpose of the Code is to provide a framework for personal injury and clinical negligence claims within which claimant representatives and compensators can work together. This
PRACTICE NOTES
NOTE: the discount rate changed to positive 0.5%, effective from 11 January 2025. Schedule A1 to the Damages Act 1996, as inserted pursuant to Part 2, section 10 of the Civil Liability Act 2018, provides that subsequent reviews are to take place within five years of the conclusion of the previous review which means that the next review must commence on or before 2 December 2029. For further guidance on serious brain injury claims, see Practice Notes: Claims involving serious brain injuries, Valuing serious brain injury claims and Rehabilitation Code 2015. Rehabilitation before liability is resolved Often, for a number of brain-injured claimants, both children and adults, a transition from hospital or a residential rehabilitation unit into the community is the ultimate goal. It is associated with a better quality of life: • with support, brain-injured claimants should be encouraged to undertake as many activities of daily living as independently as possible • increased independence and self-reliance are intimately linked with self-esteem and quality of life • living in the community
PRACTICE NOTES
Why were the rules on rehabilitation of offenders changed? The Rehabilitation of Offenders Act 1974 (ROA 1974) was brought into force to support the rehabilitation into employment of reformed offenders. ROA 1974 treats a rehabilitated person as if they have never committed or been charged with, prosecuted for, convicted of or sentenced for the offence, and so they are not required to declare a spent caution or conviction. Chapter 8 of the Legal Aid, Sentencing and Punishment of Offenders Act 2012 (LASPO 2012) introduced changes to ROA 1974 to amend the scope of ROA 1974 and the rehabilitation periods contained within it. The reforms that came into effect on 10 March 2014, brought in by the Legal Aid, Sentencing and Punishment of Offenders Act 2012 (Commencement No 9, Saving Provision and Specification of Commencement Date) Order 2014, SI 2014/423, changed the way some rehabilitation periods were set in an attempt to make them more adequately reflect the seriousness of the sentences imposed. What changed in the rules on rehabilitation of offenders? The
GLOSSARY
The parties to a lease are released from their mutual obligations if rei interitus takes place; that is, if the subjects are without the fault of either party completely destroyed by damnum fatale or can be regarded as constructively destroyed so as to be no longer tenantable. Examples are accidental destruction by fire, overblowing by sand and requisition under statutory authority, but not the loss of a hotel licence. Where the damage is attributable to an 'act of God' and the lease does not allocate liability for this cause of damage, the landlord is not obliged to carry out repairs.