Collective investment scheme meaning

In this issue: Commercial real estate finance Leasing property Property management Residential tenancies Statutory compliance Property in Wales Additional property updates this week LexTalk®Property: a Lexis®Nexis community Daily and weekly news alerts New and updated content Trackers Commercial real estate finance Deliberate and unauthorised deed alteration renders legal charge void In Boult v Together Personal Finance Ltd [2026] EWHC 809 (Ch), the Chancery Division overturned the County Court at Cardiff, finding that the rule in Pigot’s Case rendered a legal charge void. The appeal turned on whether a unilateral, material change to a deed made after execution—without the other party’s knowledge or consent—invalidates it under the 400‑year‑old Pigot principle. The respondent, Together Personal Finance Limited, had lent money to the appellant, Ms Myranna Boult, secured against her property, and later commenced possession proceedings. Ms Boult maintained that the charge had been amended in manuscript post‑execution to incorporate an additional property without her...

In this issue: Prudential requirements Financial crime and sanctions Complaints, compensation and claims management Investigations, enforcement and discipline Regulation of capital markets Sustainable finance and ESG Banks and mutuals Investment funds and asset management UK MiFID II Consumer credit, mortgage and home finance Regulation of insurance FSMA regulated pensions activity Payment services and systems Financial Services Enforcement Database Daily and weekly news alerts Intraday news alerts New and updated content Dates for your diary Prudential requirements COREPER asked to endorse agreement on CCP concentration risk treatment After the European Parliament adopted, in April 2024, a proposal for a directive of the Parliament and the Council to amend Directive 2009/65/EC (UCITS), Directive 2013/36/EU (CRD IV) and the Investment Firms Directive (EU) 2019/2034 (IFD), the Council of the EU’s General Secretariat released an ‘I/A’ Item Note inviting the Council’s Permanent Representatives Committee (COREPER) to confirm its agreement...

In this issue: The Pensions Regulator Pensions dashboards Collective defined contribution schemes Public sector pensions Daily and weekly news alerts Dates for your diary Trackers The Pensions Regulator TPR publishes final Fast Track parameters The Pensions Regulator (TPR) has issued a standalone, finalised version of the Fast Track tests and conditions. Previously included as Appendix 1 to TPR’s response to its Fast Track and regulatory approach consultation, this document details the parameters that a defined benefit (DB) scheme must meet when submitting an actuarial valuation with an effective date on or after 22 September 2024 under the Fast Track route. In essence, the framework sets expectations across funding and investment stress, technical provisions, investment risk, and the recovery plan. In completing the parameters, TPR made a number of minor tweaks to better clarify its intentions. Fast Track is one of two newly introduced pathways—alongside the Bespoke route—available to trustees when filing a DB scheme valuation dated...

A limited liability partnership (LLP) A limited liability partnership (LLP) is a corporate body established under the Limited Liability Partnerships Act 2000 (LLPA 2000). Most rules governing LLPs derive from modified company law rather than partnership law (see Practice Note: The nature of a limited liability partnership and its legal framework). The requirements for incorporation are prescribed in the LLPA 2000 and the Companies Act 2006 (CA 2006), as adapted by the Limited Liability Partnerships (Application of Companies Act 2006) Regulations 2009, SI 2009/1804 (LLP (Application of CA 2006) Regs 2009). The method for forming an LLP closely mirrors the procedure for company incorporation...

A collective defined contribution (CDC) scheme is a type of defined ambition arrangement. What is defined ambition? At its core is the principle of risk sharing, meaning the pension scheme’s risks are not shouldered wholly, or mainly, by either the employer or the members. A defined ambition pension combines aspects seen in traditional defined benefit (DB) schemes with elements typical of traditional defined contribution (DC) schemes. According to the Department of Work and Pensions (DWP), the purpose of a defined ambition pension is to provide members with greater certainty than a pure DC pension, while aiming for less cost volatility for employers than current DB pensions. In a traditional DB arrangement, the employer typically carries the full burden of risks linked to investment performance, inflation and how long members live. There has been a marked move away from traditional DB owing to factors including economic pressures and the treatment of DB liabilities in company accounts...

This Practice Note examines general partnerships established under the Partnership Act 1890. It sets out the key statutes and case law that shape the legal framework for partnerships. It also explains how to assess whether an individual is a partner, when partners may properly be regarded as employees or workers, the extent of a partner’s authority, partners’ liability for the firm’s debts and obligations, and the treatment of partnership property... Sources of partnership law The principal source of law for a general partnership governed by English law (as distinct from a limited liability partnership, a limited partnership, or a partnership incorporated under Scottish law) is the Partnership Act 1890 (PA 1890), which has remained largely unchanged for more than a century. However, it is not a comprehensive code: it expressly preserves the rules of equity and common law applicable to partnerships, except where these conflict with the express provisions of the PA 1890. Frequently, partners put in place a written agreement setting out their mutual rights and duties,...