Delegated act meaning

Is the risk assessment overseen at the highest level in the company? To demonstrate commitment from the top to anti-bribery controls, a company officer or a member of the Board should be designated to supervise the anti-bribery and risk assessment process. See Practice Note: Anti-bribery and corruption policy. Consider: Do senior management or the Board hold ultimate responsibility for the risk assessment process? Have duties for anti-bribery and corruption been delegated; if so, to whom and on what basis? How is this recorded? Has the company allocated bribery risk assessment to employees (for example, a compliance officer) who report directly to the Board? How has the company ensured the risk assessment is fit for purpose and able to withstand scrutiny?...

In this issue Security Sustainable finance Debt capital markets Derivatives Regulation for derivatives lawyers Claims and remedies Daily and weekly news alerts Updated Practice Notes Useful information Security HM Land Registry has revised Practice Guide 29—Registration of legal charges and deeds of variation of charge. An update to section 4 now explains how to remove a note recorded in the charges register pursuant to section 859H of the Companies Act 2006. See: LNB News 06/05/2025 2. Source: Registration of legal charges and deeds of variation of charge (PG29). Sustainable finance The European Commission has opened a call for evidence to review the Sustainable Finance Disclosures Regulation (EU) 2019/2088 (EU SFDR). The initiative targets unnecessary burdens by simplifying and streamlining obligations, including easing environmental, social and governance reporting for financial market participants so they can focus on information most relevant to investors. Responses are requested by 30 May 2025, and the feedback will guide...

In this issue: Sustainable finance and ESG weekly round-up Economic Crime and Corporate Transparency Act 2023 Lending Acquisition finance Shipping finance Real estate finance Sustainable finance Debt capital markets Derivatives Regulation for banking lawyers Sanctions Daily and weekly news alerts New and updated content Useful information Sustainable finance and ESG weekly round-up For a summary of this week’s Sustainable finance and ESG developments, see Sustainable finance and ESG weekly round-up—14 November 2024. Economic Crime and Corporate Transparency Act 2023 Economic Crime and Corporate Transparency Act 2023 (Commencement No 3) Regulations 2024 (SI 2024/1108): Provisions in ECCTA 2023 on civil recovery of cryptoassets in Scotland took effect on 7 November 2024, and measures introducing the UK-wide offence of failure to prevent fraud will commence on 1 September 2025. See: LNB News 07/11/2024 12. Unique Identifiers (Application of Company Law) Regulations 2024 (SI 2024/Draft): These draft Regulations would widen...

In this issue: New technologies Internet Media Advertising, marketing and sponsorship LexTalk®TMT: a Lexis®Nexis community Daily and weekly news alerts New and updated content Dates for your diary Trackers Latest Q&As Useful information New technologies Getty Images drops Stability AI copyright infringement claims from UK trial MLex reports that on 25 June 2025 Getty Images abandoned its direct copyright infringement claims against image generator Stability AI during the first day of closing submissions in a landmark three‑week High Court hearing in London. It is still pursuing allegations of trade mark infringement, passing off, secondary copyright infringement and issues around licensing, yet the move is a setback for the UK’s creative sector, which had sought clear precedent to provide broad copyright protection in the UK against AI models’ web scraping. See: Getty Images drops Stability AI copyright infringement claims from UK trial. IAB Tech Lab proposes framework for AI content usage compensation...

Meaning of ‘non-executive director’ The broad definition of ‘director’ is not closed. Under the Companies Act 2006 (CA 2006), a director is any person who occupies the office of director, whatever title they hold. Accordingly, this covers both executive and non-executive directors (NEDs). Executive directors are typically authorised, either by the company’s constitution or by authority delegated from the board, to manage the company’s day-to-day affairs, and they usually have a full-time service contract. NEDs generally: have no executive powers play a pivotal role in the company’s corporate governance are not employees of the company There are a number of challenges around granting shares to NEDs. This Practice Note considers the issues to assess when offering shares or share-based remuneration to NEDs, including: the potential impact on the NED’s independence the share dealing provisions of Assimilated Regulation (EU) 596/2014 for the UK, and the Market Abuse Regulation (Regulation (EU) 596/2014) previously and for the EU ...

This Practice Note sets out the applicable product governance obligations under the Markets in Financial Instruments Directive (Directive 2014/65/EU) (MiFID II) that firms must observe and comply with when designing, approving, marketing and overseeing the ongoing management of products throughout their entire lifecycle. It also summarises the relevant delegated acts adopted by the European Commission—particularly Articles 9 and 10 of Directive (EU) 2017/593 (the MiFID II Delegated Directive)—as well as the guidelines issued by the European Securities and Markets Authority (ESMA). Background to MiFID II and product governance The recast Markets in Financial Instruments Directive (Directive 2014/65/EU) (MiFID II), together with the Markets in Financial Instruments Regulation (Regulation (EU) 600/2014) (MiFIR) (collectively, the MiFID II framework), entered into force on 2 July 2014. The bulk of the framework’s provisions largely applied from 3 January 2018. MiFID II establishes a suite of product governance requirements so that firms manufacture and distribute products in a manner that ensures they act in clients’ best interests across every stage of the lifecycle...

STOP PRESS: The EU Listing Act appeared in the Official Journal on 14 November 2024, introducing amendments to the EU Market Abuse Regulation (EU MAR). The majority of the Act’s measures, including the EU MAR changes, are due to apply from July 2026, conditional on the Commission adopting level 2 delegated acts. Certain EU MAR updates on market soundings and managers’ transactions, however, took effect on 4 December 2024 and are flagged in the relevant sections of this Practice Note. On 7 May 2025, ESMA issued technical advice to the Commission covering, among other matters, EU MAR. On 8 April 2026, the Commission released the final texts of two delegated acts: one addressing the disclosure of inside information and another dealing with, among other aspects, indicators of market manipulation. These delegated acts will be published in the Official Journal of the EU and will enter into force provided the European Parliament or the Council of the EU do not object. The scrutiny period typically runs for two months after...

On [ date ], the parties enter into this Agreement, namely: 1 [ ] of [ ] (the ‘ Administering Authority ’); 2 [ ] of [ ] (the ‘ Scheme Employer ’); 3 [ ] of [ ] (the ‘ Admission Body ’); and 4 [ ] of [ ] (the ‘ Guarantor ’). Background (A) Under the Regulations, the Administering Authority is an administering authority. It runs and upholds the Scheme in line with the Regulations and has delegated authority to make determinations under section 25(5) of the Public Service Pensions Act 2013 regarding employees of admission bodies. (B) The Scheme Employer falls within the definition of a Scheme employer for the purposes of the Regulations. (C) The Admission Body is an admission body as described in [ ] of Schedule 2 to the 2013 Regulations and intends to enter into the Admission Agreement. [ It supplies the [ services ] [ assets ] referenced in the Contract and, in carrying out...

To: [ insert name of co-trustee or person entitled to appoint ] of [ insert address of co-trustee or person entitled to appoint ] In the matter of [ insert name or short details of the relevant trust ] and under the Trustee Act 1925, section 25(4) (as substituted by the Trustee Delegation Act 1999, section 5(1)), I, [ insert name of donor trustee ] of [ insert address of donor trustee ], give you formal notice that: Owing to [ state reason for giving the power ], I [ have given OR intend to give ] to [ name of attorney ] of [ address of attorney ] a power of attorney, a copy of which accompanies this notice. The power of attorney [ took effect OR takes effect ] on [ insert date ] and will end on [ insert date ]. [ Only the following trusts, powers and discretions vested in me as a trustee are [ to be ]...