CFO meaning

Checklist This Checklist outlines practical actions for your first week in a new role as an in-house lawyer. It highlights relevant Precedents you can use or adapt to support these steps. There is space for you to note whether you have completed each action and to include comments. Use the section provided to tick off actions and add observations. It should be read together with Practice Note: Finding your feet in-house—your first week. Day 1 Your first day will be dominated by practicalities. Begin by considering your own needs, eg your health, safety and security, your contract, travel to the office, and office access: Practical step: ☐ Meet with your line manager Further details: Keep this meeting fairly informal, but flag the need to arrange a more structured session soon—perhaps in your second week with the organisation—see: New to role—meeting with your line manager—checklist. Explain that you will also want to set up meetings with key players across the organisation, eg...

Constitutional and other documents Scrutinise the borrower’s constitution and ancillary papers to confirm clearly, at the outset, that: the borrower holds adequate authority under its constitutional instruments and governance documents (ie articles of association or partnership deed, etc) to incur debt and grant security interests, and no separate contract currently binding the borrower prevents or otherwise limits fresh/further borrowing or the creation of security interests (check any negative pledge wording in other finance, leasing or security papers) Lessons learned After verifying both the borrower’s powers and authority, locate and examine any current loan files and documentation for lessons learned, to determine what succeeds (avoid reinventing the wheel!), what fails (do not repeat known issues), and what might be refined or strengthened. Hindsight invariably makes everyone wiser. Consult the COO and CFO (as a minimum). Pose the following: who are the current bankers to the business? What is the character of the relationship? ...

Quoted companies (other than investment companies) This checklist sets out the UK Corporate Governance Code expectations on the composition of quoted company boards, together with best-practice guidance from leading institutional investor representative bodies. It also draws on guidance from the Quoted Companies Alliance for small and mid-size quoted companies, and from the Association of Investment Companies for investment companies. UK Listing Rules Companies listed in the equity shares (commercial companies) category should confirm in their annual report, on a ‘comply or explain’ basis and by reference to a chosen date within the accounting period, whether they meet the following board diversity targets on gender and ethnicity: a minimum of 40% of the board should be women at least one senior role—chair, CEO, senior independent director (SID) or CFO—should be held by a woman at least one director should be from a minority ethnic background Reference: UKLR 6.6.6. 2018 UKCG Code No less than half of the board,...

In this issue: Probate Court of Protection UK taxes for Private Client HMRC Manuals updates Tax avoidance, evasion and non-compliance Insolvency—Private Client Digital assets and cryptoassets Charity and philanthropy Contentious trusts and estates Pensions, insurance and tax efficient investments International Question of the week Additional Private Client updates this week Daily and weekly news alerts LexTalk®Private Client: a Lexis®PSL community New and updated content Dates for your diary Trackers Latest Q&As Useful information Probate HMCTS probate enquiry line—temporary reduced hours From 14 February 2024, and for 12 weeks, the HMCTS probate helpline will run on reduced hours: 9am to 1pm, Monday to Friday. The HMCTS Probate Service remains available via web‑chat from 9am to 5pm, Monday to Friday. Source: HMCTS Probate LinkedIn post. MoJ urges those entitled to claim dormant funds held by CFO to act now The Ministry of Justice...

Insurance Europe and the European Insurance CFO Forum warned in a 3 July 2024 position paper that the current limitations give an incomplete view of insurers’ sustainability, putting the industry at a competitive handicap versus others. The EU’s taxonomy rule sets out which activities are sustainable for use in mandatory disclosures by insurers and other companies. It aims to shield investors from misleading claims about sustainability levels. The required reporting is anchored in key performance indicators, or KPIs, designed to reflect sustainability levels in investments and the premiums collected to profitably cover insurance risk. Insurers must disclose how much of their investing and underwriting is taxonomy-eligible, meaning it serves its environmental aims, such as climate change adaptation. However, there are several shortcomings which mean the insurance taxonomy KPIs as currently framed, in their present form and scope, remain problematic...

In this issue: Key PI and Clinical negligence developments Civil procedure rule committee minutes Psychiatric and occupational stress Injuries caused by animals Claims involving a child Claims involving a fatality Costs and funding Other PI and Clinical negligence news LexTalk® PI & Clinical Negligence: a Lexis®Nexis community Daily and weekly news alerts LexisNexis® Webinars Useful information Key PI and Clinical negligence developments MoJ announces reduction in CFO’s interest rates The Ministry of Justice (MoJ) has confirmed reduced interest rates for the Courts Funds Office (CFO) special and basic accounts. The special account rate moves from 4.75% to 4.50%, while the basic account rate shifts from 3.56% to 3.38%. Effective from 3 March 2025, the revision follows the Bank of England’s base rate cut on 6 February 2025 and is intended to ensure the CFO Service can continue to cover operational costs. See: LNB News 04/03/2025 38...

PI & Clinical negligence horizon scanner—July 2025 [Archived] ARCHIVED: This Practice Note is archived and is not maintained. It summarises the principal legal developments relevant to personal injury and clinical negligence practitioners as at July 2025. For developments predating this horizon scanner, see PI and Clinical Negligence horizon scanning and key cases—overview. Key PI and clinical negligence developments The personal injury discount rate—a review In late 2024, the Lord Chancellor, Shabana Mahmood MP, revealed the outcome of her five‑month review of the discount rate, initiated in July 2024. One month after the new +0.5% discount rate took effect, Thea Wilson (barrister at 12 King’s Bench Walk) assesses its impact on cases, the responses from claimant and defendant representatives, and the consequences of the change for legal practitioners. See News Analysis: The personal injury discount rate—a review. MoJ announces reduction in CFO’s interest rates The Ministry of Justice (MoJ) has announced lower interest rates for the Courts Funds Office’s (CFO) special and basic accounts...

This Practice Note looks at how to oversee relationships with law firms your organisation engages either routinely or from time to time. Relationship management with a law firm used regularly This Practice Note proceeds on the basis that a robust selection exercise has been completed, resulting in the firms your team commonly instructs. For more on panel selection, see subtopic: Setting up a panel—overview. Key elements in relationship management The image referenced identifies five recurring ingredients for building effective partnerships with your law firms: 1. Scoping and fee parameters — When a firm is used frequently there is greater opportunity for fixed pricing or tariffs. Consider whether a comprehensive arrangement that smooths any undue pain or gain in billing suits you best, or a narrower payment structure that is widened over time. It must function for you, the firm, and your CFO. Related Practice Notes: Legal services procurement—fee arrangements. 2. Work in progress reviews — Put in place clear protocols for regular...

PI & Clinical Negligence horizon scanner—May 2023 [Archived] ARCHIVED: This Practice Note has been archived and is not being maintained at present. It distils the principal legal developments of relevance to personal injury and clinical negligence practitioners as at 19 May 2023. For the most recent horizon scanner, reference should be made to PI and Clinical Negligence horizon scanning—overview. Key PI & Clinical Negligence developments Analysis of the proposed implementation of the extended fixed recoverable costs regime — The Civil Procedure Rule Committee (CPRC) has issued draft amendments needed to implement the expansion of the fixed recoverable costs regime. Andrew Crisp, an associate at Clarion Solicitors, assesses those changes and their effects. See News Analysis: Analysis of the proposed implementation of the extended fixed recoverable costs regime. Fixed costs for noise induced hearing loss cases — From 1 October 2023, claims for noise induced hearing loss will fall within fixed recoverable costs. These rules enact the recommendations of the Civil Justice Council’s (CJC) working...