Financial Reporting Standard 17 meaning

In this issue: Sustainable finance and ESG round–up Lending Security Sustainable finance Debt capital markets Derivatives Structured products and securitisation Regulation for derivatives lawyers Restructuring Daily and weekly news alerts New and updated content Useful information Sustainable finance and ESG round–up Sustainable finance and ESG weekly round–up Sustainable finance and ESG round–up 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—18 April 2024. Lending LMA publishes guidance on primary delayed settlement compensation The Loan Market Association (LMA) has issued guidance on primary delayed settlement compensation, setting out a suggested timetable for stages in the syndication process and embedding fault-based delayed settlement compensation. The note aims to reconcile the differing priorities of stakeholders involved in syndication. See: LNB News 17/04/2024 68. Source: LMA issues Primary Delayed Settlement Compensation Guidelines to promote efficiency...

In this edition EU fundamentals Commercial Competition and state aid Corporate Data protection and cybersecurity Dispute resolution Free movement, immigration and employment Financial services Energy Environment Insurance and reinsurance IP Life sciences TMT International trade Daily and weekly news alerts New and updated content Trackers EU fundamentals Council of the EU and Parliament agree on €192.8bn budget for 2026 The Council of the EU and the European Parliament have settled the EU’s 2026 budget, setting commitments at €192.8bn and payments at €190.1bn, equal to 1.00% and 0.99% of the Union’s gross national income. The plan focuses on competitiveness, defence preparedness, humanitarian support and migration management, while preserving room to react to unforeseen crises. Under the 2021–27 multiannual financial framework, €715.7m remains for unexpected costs, with funding channelled to the single market, cohesion, the environment, security and external engagement. As the sixth annual budget in the...

UK implementation of MiFID II and MiFIR The recast Markets in Financial Instruments Directive (Directive 2014/65/EU) (MiFID II) and the new Markets in Financial Instruments Regulation (Regulation (EU) 600/2014) (MiFIR) appeared in the Official Journal of the European Union on 12 June 2014 and applied from 3 January 2018 thereafter. Together, both MiFID II and MiFIR materially revise and broaden the regime at EU level first created by the Markets in Financial Instruments Directive (2004/39/EC) (MiFID). EU Member States had to implement MiFID II’s provisions into domestic law by 3 July 2017 by that date, whereas MiFIR takes effect directly in Member States without any need for transposition. In the UK, MiFID II and MiFIR were given effect via HM Treasury legislative changes, alongside Financial Conduct Authority (FCA) and Prudential Regulation Authority (PRA) rules and guidance from those bodies. The Financial Ombudsman Service (FOS) has likewise updated its standard terms and scheme rules for firms within its voluntary jurisdiction. This Practice Note monitors the progress of MiFID II and...

ARCHIVED This Practice Note is archived and is no longer maintained. A major overhaul of the UK listing regime took effect on 29 July 2024, abolishing the premium and standard listing segments and introducing a single listing category for equity shares issued by commercial companies. That commercial companies category is strongly disclosure-led and sits beside other categories, including the shell companies, secondary listing and closed ended investment fund categories. To implement these reforms, the UK Listing Rules sourcebook came into force and the previous Listing Rules sourcebook was revoked. For more detail, see Practice Note: Reform of the UK listing regime—fundamentals. This Resource Note summarises the regime as it stood before 29 July 2024 and has been kept for reference. It brings together relevant materials, commentary, analysis and resources to aid interpretation of, and deliver practical guidance on, Chapter 9 of the former Listing Rules that applied prior to 29 July 2024...

Philanthropy is a foundational strand of the wealth planning of many ultra-high-net-worth individuals and their families (UHNWIs). Approaches to advancing a person’s charitable ambitions range from straightforward cash gifts to creating and managing their own charitable organisation. Frequently, these efforts span several jurisdictions, supported by emerging payment tools, crowdfunding platforms and innovative transaction models. This Practice Note highlights some of the considerations for UK-connected UHNWIs undertaking cross-border charitable and philanthropic initiatives. UK as a centre for cross-border philanthropy The UK provides notable strengths as a home for charities working domestically and internationally. These include the UK’s tax environment and regulatory framework, alongside its longstanding tradition of multiculturalism. UK regulation of charities Charities in England and Wales operate under a well-developed combination of statutory and common-law principles, delivering both stability and the capacity to adapt to societal change. Central to this framework is an independent, specialist regulator: the Charity Commission for England and Wales (Charity Commission). One of the Charity Commission’s principal responsibilities is to detect and...