Forward Plan meaning

Where a scheme of arrangement, restructuring plan, company voluntary arrangement or individual arrangement is put forward in respect of a regulated firm (defined below), the Financial Conduct Authority (FCA) should be engaged at the earliest possible stage. The FCA serves as the conduct regulator for both financial services firms and for the financial markets across the United Kingdom. Under section 1B of the Financial Services and Markets Act 2000 (FSMA 2000), it is tasked with pursuing specified objectives, including one centred on consumer protection in practice. The FCA states its statutory aims as securing an appropriate level of protection for consumers and safeguarding and strengthening the overall integrity of UK financial markets, with the intention of limiting the volume of proposed compromises it deems unsuitable (see FG22/4 para 1.2). On 5 July 2022, the FCA issued guidance on compromises by regulated firms (FCA Guidance FG22/4 July 2022, updated January 2024), prompted by serious concerns that these mechanisms were being advanced and deployed by firms to sidestep redress due to customers...

Practice Statement (Companies: Schemes of Arrangement under Part 26 and Part 26A of the Companies Act 2006) (Practice Statement 2020) Where a company puts forward a restructuring plan to creditors, the Practice Statement 2020 requires it to take every reasonably available step to alert any person affected that the plan is being advanced, explain the aim it seeks to achieve, and outline the creditor meetings the applicant considers will be required and how they are constituted, unless there is proper justification for not doing so (a consultation began in May 2025 intending to replace this Practice Statement by the end of July 2025; see: LNB News 09/05/2025 46). This notification is typically given by sending a practice statement letter to creditors ahead of the convening hearing. What amounts to sufficient notice of the convening hearing turns on the particular facts and circumstances (Practice Statement 2020, para 7) and is a highly fact‑sensitive inquiry (see Re PizzaExpress (convening)). In practical terms, the length of notice likely required may depend on:...

FCA involvement in compromises of regulated firms When a scheme of arrangement, restructuring plan, company voluntary arrangement or individual arrangement is put forward in relation to a regulated firm (defined below), the Financial Conduct Authority (FCA) should be engaged at the outset. The FCA acts as the conduct regulator for UK financial services firms and markets. It is obliged under section 1B of the Financial Services and Markets Act 2000 (FSMA 2000) to advance specified objectives, including the consumer protection objective. The FCA states that its statutory aims are to secure an appropriate level of consumer protection and to safeguard and strengthen the integrity of UK financial markets, with the intention of limiting the number of proposed compromises (via a scheme of arrangement, restructuring plan, company voluntary arrangement or individual arrangement) it considers unsuitable (see FG22/4, para 1.2). On 5 July 2022, the FCA issued guidance on compromises by regulated firms (FCA Guidance FG22/4, July 2022, updated January 2024), prompted by serious concerns that these mechanisms were being...

In this issue: Key developments and materials Electricity and gas market regulation and licensing Networks and network connections Conventional power, waste to energy, biomass, and CHP projects Nuclear energy Air emissions, efficiency, and climate change International energy Daily and weekly news alerts New and updated content Dates for your diary Trackers Key developments and materials Friends of the Earth has won a pivotal High Court judgment against the government, with the court ruling that the climate strategy advanced by the Secretary of State for Energy Security and Net Zero is unlawful. The court determined that adopting the Carbon Budget Delivery Plan contravened the Climate Change Act 2008. See: LNB News 03/05/2024 70. Electricity and gas market regulation and licensing Ofgem has released its conclusions on the consultation regarding updates to the licence fee cost recovery principles (LFCRP) and issued the LFCRP for May 2024. After reviewing consultees’ submissions, Ofgem confirmed it...

In this issue: Regulatory framework for medicinal products Research and development Data protection and life sciences Daily and weekly news alerts New and updated content Dates for your diary Trackers Useful information Regulatory framework for medicinal products Commission releases Communication to boost biotechnology and biomanufacturing The European Commission has issued a Communication on building the future with nature, outlining the obstacles and constraints in the EU’s biotechnology and biomanufacturing arena and setting out a suite of targeted measures to invigorate biotechnology and biomanufacturing across the EU. The European Federation of Pharmaceutical Industries and Associations (EFPIA) welcomed the Commission’s Communication and urged the Commission to bring forward, in its next mandate, a comprehensive health and life science strategy so that European patients can access innovative new treatments and technologies. See: LNB News 20/03/2024 81. MEPs adopt proposal to improve EU pharmaceutical legislation The Environment, Public Health and Food Safety Committee has adopted its proposals...

In this issue: Investigating criminal conduct Criminal procedure and evidence Bribery, corruption, sanctions and export controls Consumer protection and cartels Cybercrime and data protection offences Environmental offences Financial services and pensions offences Fraud, forgery, tax and theft offences Health and safety and corporate manslaughter offences Insolvency offences and Companies Act offences Local authority prosecutions Money laundering Corporate Crime in Scotland International Daily and weekly news alerts New and updated content Dates for your diary Trackers Useful information Investigating criminal conduct UK fraud watchdog backs broader powers to compel company information from firms Proposals allowing investigators to demand company information before they are formally under investigation have been endorsed by the UK’s anti-fraud authority, which has welcomed these wider powers. See News Analysis: UK fraud agency welcomes wider powers to force information from companies. Criminal procedure and evidence Post Office Horizon prosecutions ...

Archived: This Practice Note has been archived and is not being maintained. What does the Market Insights Trend Report cover? Select below to obtain the complete report as a PDF. The Market Insights Trend Report offers detailed analysis of the 14 restructuring plans (RPs) put forward in the UK in 2023, alongside commentary on patterns and what we and our contributors anticipate for 2024 and the years ahead...

What does this Practice Note cover? This Practice Note outlines the drafting of an offering memorandum (OM) for offerings conducted in reliance on Rule 144A (17 CFR § 230.144A) and Regulation S under the Securities Act of 1933, as amended (the Securities Act). It provides an overview of the usual drafting workflow, disclosure obligations, and the sections commonly included in an OM. For a Rule 144A/Regulation S transaction, the offering document is generally called an 'offering memorandum' or 'offering circular' (rather than a 'prospectus', the term used for the offering document for a registered offering). As with other offering documents, a Rule 144A/Regulation S OM performs two principal roles: It serves as a disclosure document prepared to satisfy applicable securities law disclosure requirements and to lessen potential liability risk for offering participants under those laws. It also often functions as the primary marketing document for the offering. Drafting process The method for preparing a Rule 144A/Regulation S OM closely...

Contents Context Viability in national planning policy and guidance Local planning policy and guidance RICS 2021 Guidance on viability Viability assessments in practice Decision-taking and section 106 agreements London Build to rent Transparency, viability and freedom of information Viability evidence and risk of third party challenges Glossary Context The planning framework in England and Wales is driven by plans. Every local planning authority (LPA) is required to produce and keep up to date a development plan that identifies planning policies and land use priorities for its area. These plans indicate where development may come forward, and the nature, scale and form that will be allowed in specified places. They also typically include policies for securing planning obligations made under section 106 of the Town and Country Planning Act 1990 (TCPA 1990), often called section 106 agreements or planning obligations. Such obligations offset the effects of proposals on nearby communities and render schemes acceptable...

1 Executive summary/introduction 1.1 Following extensive conversations throughout the practice, this business plan has been carefully drafted. We sincerely appreciate the considerable contributions offered by colleagues. The plan belongs to everyone within the firm, regardless of their position or responsibilities. 1.2 This plan aims to deliver a set of clear goals for the coming year. These aims are designed to improve the firm’s profitability by cutting expenditure, better controlling risk, and boosting revenue. The action plan at the conclusion of this document clearly explains how these goals will be met. 1.3 The business plan will undergo review on a [insert frequency, eg six-monthly] basis, and we invite staff to help actively evaluate the progress achieved to date. 1.4 We ask every member of staff to treat the firm as though it were their own enterprise. Accordingly, we urge colleagues to put forward as many practical ideas as possible to collectively advance the firm and fully realise its objectives...

Action Notes Review earlier RTWI/ARM paperwork to identify: the employee’s health condition(s); treatments currently underway; medicines being taken; advice from the most recent RTWI/ARM; arrangements for a GP medical report; arrangements for any private medical examination; commissioning of an Occupational Health report; conclusions from medical reports/examinations; the medical practitioner’s longer-term prognosis; reasonable adjustments made or proposed; how those adjustments affect the firm; any risk assessment completed; results of that risk assessment; how outcomes have been applied to the employee’s role. Examine absence data and confirm: the employee’s present absence rate; comparison with the firm’s target absence rate; the expected change in absence going forward (considering the practitioner’s prognosis). Consult firm records regarding: the effect of the employee’s absence on their work and the firm; the firm’s capacity to manage the absence now and in future. ...

Date [ date ] Parties [ name of Fund ], of [ address ] or, alternatively, incorporated in England and Wales (company registration number [ number ]) with its registered office at [ address ] (the Fund) [ name of Developer ], of [ address ] or, alternatively, incorporated in England and Wales (company registration number [ number ]) with its registered office at [ address ] (the Developer) [ name of Guarantor ], of [ address ] or, alternatively, incorporated in England and Wales (company registration number [ number ]) with its registered office at [ address ] (the Guarantor) The parties identified above enter into this Agreement on the stated date, with roles and definitions to be applied throughout as set out herein…