Commission and diligence meaning

This Checklist outlines the outsourcing requirements for common platform firms in the UK, set out in Chapter 8 of the Systems and Controls Sourcebook in the Financial Conduct Authority (FCA) Handbook (SYSC 8). It also captures provisions that replace Commission Delegated Assimilated Regulation (EU) 2017/565 (the UK MiFID II Organisational Regulation) from its revocation on 23 October 2025. For fuller guidance on the outsourcing rules that apply to all firms (including common platform firms), see Practice Note: Financial services outsourcing. Firms should also be aware of obligations under the UK regulatory framework for operational resilience that relate directly to outsourcing; for information, see Practice Note: Operational resilience-UK regulatory framework. Which financial services firms do the outsourcing rules apply to? The outsourcing rules described in this Checklist apply to common platform firms, including: banks building societies investment firms For a detailed definition of common platform firm, see the FCA Handbook Glossary. Dual regulated firms should also refer to the parallel rules...

Indicators of corruption-checklist Organisations and their staff should remain vigilant for signs of corruption. This checklist outlines indicators that would usually justify an escalated investigation. For further information on internal investigations, see: Internal investigation on suspicion of failure to prevent bribery-checklist. During contract negotiations, or when finalising a previous contract, assess whether any payment arrangements seem unusual, including: pressures to amend agreed terms, such as demands for urgent and/or early payments a request for cash payment money routed through a third country or to a shell company in another country an abnormally high commission paid to a particular agency, see Practice Note: How to identify when a commission might become a bribe instructions to split a payment between two accounts for the same agent, notably where the accounts are in different countries, see Practice Note: Agents and other intermediaries the settlement of high-value expenses (for example, expensive restaurant bills), or non-business expenses (such as school) ...

ARCHIVED : This Checklist has been archived and is not maintained . STOP PRESS: From 1 November 2024, the UK’s new securitisation framework took effect, annulling and supplanting the onshored EU legislative regime. Although the UK rules broadly preserve the substance of the prior onshored EU approach, they part company in several notable respects, including scope, risk retention, transparency, due diligence and STS designation. For a side-by-side of the STS criteria under both frameworks, see Practice Note: UK and EU securitisation regimes—comparison. On 17 June 2025, the European Commission issued its long-anticipated review of the EU Securitisation Framework, together with an extensive legislative package proposing amendments to the EU Securitisation Regulation (Regulation (EU) 2017/2402), the EU Capital Requirements Regulation (Regulation (EU) No 575/2013), the EU Solvency II Delegated Regulation (Commission Delegated Regulation (EU) 2015/35) and the EU Liquidity Coverage Requirement Delegated Regulation (Commission Delegated Regulation (EU) 2015/61). Proposed changes to the EU Securitisation Regulation cover, among other matters, risk retention, due diligence, transparency, STS on-balance sheet securitisations and...

Checklist This checklist explores the actions a buyer’s solicitor ought to take during due diligence to deal with matters arising from the property’s physical state and the surveyor’s findings, as part of the investigation. Although this Checklist refers to the buyer’s solicitor, equivalent considerations apply to a tenant’s solicitor acting on the grant of a new lease, and to a borrower’s solicitor involved in the financing or refinancing of property. A solicitor is not qualified to advise on the state or the value of a property, and the report on title prepared for the buyer by the buyer’s solicitor should include a qualification to that effect. If the survey or valuation identifies any issues with the property, the buyer may wish to negotiate a reduction in the price or to include an obligation in the contract requiring the seller to remedy the matter prior to completion. Has the buyer’s solicitor advised the buyer to commission a survey? A buyer’s solicitor should always advise the buyer to have the property...

The Commission is considering changes to how products regulated under EU sectoral product safety laws are covered by the EU’s AI law As part of a broader effort to streamline digital rules, MLex has learned that the Commission is weighing revisions to the AI law’s treatment of goods already subject to EU sectoral product safety regimes. The potential adjustment, being worked into the Commission’s planned digital ‘omnibus’ package due on 19 November 2025, may reduce compliance obligations for areas such as medical devices and industrial machinery. The EU’s AI Act sets a rigorous due diligence framework for AI systems that present significant risks to people’s health and fundamental rights...

In this issue: Air emissions and climate change Contamination and pollution Energy efficiency and buildings Energy for environmental lawyers Environmental information Environmental taxes, reliefs and incentives ESG and sustainability Hazardous substances and chemicals Nature, biodiversity and habitat conservation Waste Water, flooding and drainage Daily and weekly news alerts New and updated content Air emissions and climate change Greenhouse Gas Removals (GGR)-UK government publishes Business Model documentation On 27 August 2025, the Department for Energy Security and Net Zero (DESNZ) released a suite of papers on its proposed Greenhouse Gas Removals (GGR) Business Model and accompanying policy. The Lexis+ Energy team, working with Navraj Singh Ghaleigh, Senior Lecturer in Climate Law at the University of Edinburgh Law School, set out the context for the GGR Business Model; its relationship with the Power BECCS Business Model; the technologies the GGR framework intends to encompass; its legal footing and principal features; and how...

In this issue: Air emissions and climate change Energy for environmental lawyers Environmental disputes and proceedings Environmental permits and consents Environmental taxes, reliefs and incentives ESG and sustainability Hazardous substances and chemicals Marine Nature, biodiversity and habitat conservation Waste Waste producer responsibility regimes Water, flooding and drainage Daily and weekly news alerts New and updated content Air emissions and climate change DESNZ releases quarterly waste data reporting template for the UK ETS. The Department for Energy Security and Net Zero (DESNZ) has issued a template for quarterly waste data submissions under the UK Emissions Trading Scheme (UK ETS). It is designed for waste operators to use when sending quarterly data reports to their regulator during the voluntary monitoring, reporting and verification (MRV) period. See: LNB News 19/02/2026 50. AFME responds to European Commission consultation on climate resilience legislative framework. The Association for Financial Markets in Europe (AFME) has provided...

This Practice Note outlines legal professional privilege (LPP) in Scottish civil litigation. It should be read alongside Practice Note: Privilege in Scotland—general principles, which sets out the two main categories of legal professional privilege: legal advice privilege (LAP) and litigation privilege (LP), and also refers to without prejudice privilege, waiver of privilege and common interest privilege. For the position in England and Wales, see: Privilege and without prejudice communications—overview and Practice Note: Privilege—general principles which, in addition to providing an overview, link to more detailed guidance on aspects of LPP. Key: FOI—freedom of information LAP—legal advice privilege LP—litigation privilege LPP—legal professional privilege Accessing privileged material in Scottish civil litigation In Scotland, several mechanisms enable recovery of otherwise privileged documents or communications, either within proceedings or outwith the court process, including: section 1 of the Administration of Justice (Scotland) Act 1972 (AJ(S)A 1972) commission and diligence Freedom of Information (Scotland) Act 2002 (FI(S)A 2002) ...

ARCHIVED: This Practice Note has been archived and is not maintained. These Q&As respond to the most common queries on the EU Sustainable Finance Disclosure Regulation (EU SFDR) (Regulation (EU) 2019/2088, as amended by Regulation (EU) 2020/852) regulatory technical standards (RTS). They address, among other areas, product categorisation; Article 8 features; principal adverse impact (PAI) data gathering; reliance on third-party information; human rights due diligence, and the effect on non-EU managers. On 6 April 2022, the Commission approved the final Regulatory Technical Standards (RTS) that supplement the EU Sustainable Finance Disclosure Regulation (EU SFDR) (Regulation (EU) 2019/2088, as amended by the EU Taxonomy Regulation (EU) 2020/852) together with the Annexes. EU SFDR imposes substantial environmental, social and governance (ESG) disclosure duties on asset managers promoting funds within the EU. The RTS set out compulsory website, pre-contractual and periodic reporting templates for financial market participants and relevant financial products. For further detail, see Commission publishes adopted RTS containing disclosure rules on sustainable investments under EU SFDR, LNB News 06/04/2022 92....

What does this Practice Note cover? This Practice Note examines transactions that rely on Regulation S under the Securities Act of 1933, as amended (15 USC § 77a) (the Securities Act). Regulation S removes from the section 5 (15 USC § 77e) registration regime offers and sales of securities conducted outside the US. The note provides an outline of Regulation S, addressing the issuer and resale safe harbours, typical Regulation S deal structures, and practical guidance for lawyers working on . What is Regulation S? Under section 5 of the Securities Act, it is unlawful to use any means or instruments of interstate commerce to offer, sell, or deliver a security unless a registration statement for that security has been filed with, and declared effective by, the Securities and Exchange Commission (SEC). As ‘interstate commerce’ in section 2(a)(7) of the Securities Act (15 USC § 77b(a)(7)) encompasses trade and commerce with any foreign country, section 5’s registration rules could be read to cover all securities offerings...