Joint Authority meaning

Timeline—developments from 1 January 2024 onwards This timeline charts UK-focused changes to the anti-money laundering (AML), counter-terrorist financing (CTF) and counter-proliferation financing (CPF) legal and regulatory frameworks affecting financial services firms. It captures the evolution and implementation record of the UK AML, CTF and CPF legislative landscape, including updates to the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017, SI 2017/692 (MLRs), together with AML/CTF-related outputs from HM Treasury (HMT), the Financial Conduct Authority (FCA) and the Joint Money Laundering Steering Group (JMLSG). It further reflects supranational AML/CTF/CPF activity from the Financial Action Task Force (FATF), Basel Committee on Banking Supervision (BCBS), International Association of Insurance Supervisors (IAIS), International Organisation of Securities Commissions (IOSCO), the Egmont Group of Financial Intelligence Units (FIUs) and the Wolfsberg Group. A schedule of forthcoming dates is available in: Key dates for Financial Services—horizon scanner. For earlier developments up to 31 December 2023, see: AML/CTF legal and regulatory regimes for financial services firms—timeline to 31 December 2023 [Archived]...

Administrator appointed by the court Where the court appoints an administrator under paragraph 11 of Schedule B1 to the Insolvency Act 1986 (IA 1986), following an application by the company, its directors and/or one or more creditors, the title deeds should include certified copies of: the administration order; and any further order(s) under IA 1986, Sch B1, paras 91–95 appointing a new administrator after the death, resignation or removal from office of the original or any later administrator Administrator appointed by holder(s) of qualifying charge, the company or its directors Where the administrator is appointed by the holder(s) of a qualifying floating charge (IA 1986, Sch B1, para 14) or by the company or its directors (IA 1986, Sch B1, para 22), the title deeds should include certified copies of: the notice of appointment: in a form complying with IA 1986, Sch B1, para 14 and the Insolvency (England and Wales) Rules...

This timeline shows key developments relating to Assimilated Regulation (EU) 648/2012 (UK EMIR) from 2024 onwards For prior milestones, consult European Market Infrastructure Regulation (EMIR)—timeline [Archived]. 23 January 2026 — ISDA | UK Finance ISDA and UK Finance Respond to FCA and HMT Consultations The International Swaps and Derivatives Association (ISDA) and UK Finance filed joint submissions to a Financial Conduct Authority (FCA) consultation and an HM Treasury (HMT) draft statutory instrument, focused on simplifying the UK EMIR intragroup framework. The measures would create a permanent, streamlined intragroup regime under UK EMIR and codify, on an enduring basis, exemptions available under the temporary intragroup exemption. ISDA backs the approach and encourages additional simplifications. 11 December 2025 — BoE Consultation paper: Exempting post-trade risk reduction transactions from the clearing obligation The Bank of England (BoE) is seeking views on proposals to exclude trades executed as part of a post-trade risk reduction service from the derivatives clearing obligation set out in Article 4 of UK...

Oswin v Otila; and Ondray Claim No ARB 032/2025 What was the background? This matter arose from a falling-out between Oswin (the Claimant) and Ondray (the Second Defendant) over how to run their joint venture company, Otila (the First Defendant). Oswin owned 49% of the First Defendant’s shares and Ondray 51%. The board could act only by unanimous vote, while shareholder resolutions required a 75% super-majority. When they were unable to agree on management and operations, the company became deadlocked. Their relationship was governed by a Joint Venture Agreement (JVA) dated 12 March 2019, which included an arbitration clause calling for DIFC-seated proceedings under the DIFC-LCIA Rules. The Claimant also operated a medical and hazardous waste facility under an Operations and Management Agreement due to expire on 21 August 2025. On 15 August 2025, the Claimant issued a Dispute Notice under clause 21.2 of the JVA, alleging that the Second Defendant was assuming strategic decision-making without proper authority—covering directions on renewal of the O&M Agreement, instruction of external...

In this issue Criminal procedure and evidence Appeal and judicial review Bribery, corruption, sanctions and export controls Consumer protection and cartels Environmental offences Food safety and hygiene offences Fraud, forgery, tax and theft offences Health and safety and corporate manslaughter offences Local authority prosecutions International Daily and weekly news alerts New and updated content Dates for your diary Trackers Useful information Criminal procedure and evidence Challenging the decision not to prosecute (R (on the application of Hillary Smith) v DPP) The High Court’s judgment in R (on the application of Hillary Smith) v Director of Public Prosecutions delivers notable guidance on three fronts: the weight to be attached to inquest conclusions when the Crown Prosecution Service’s (CPS) decides whether or not to bring a prosecution; the position the courts are likely to take in judicial review proceedings when scrutinising the reasonableness of the CPS’s application of the two-stage...

In this issue: Advertising, marketing and sponsorship Agency and distribution Consumer protection Contracts Contractual joint ventures International Daily and weekly news alerts Dates for your diary Trackers New and updated content Advertising, marketing and sponsorship ASA rulings—19 March 2025 A single complaint was made to the Advertising Standards Authority (ASA) about Haven Leisure Ltd’s claims on holiday pricing. The ASA upheld the complaint. See: LNB News 19/03/2025 11. Agency and distribution Recovery Partners GP Ltd v Rukhadze [2025] UKSC 10 The Supreme Court dismissed the appellants’ appeal against an order to account for profits earned in breach of duty; they were employees of the respondent companies and owed fiduciary duties. The court affirmed strict adherence to the fiduciary ‘no profit’ rule, rejecting arguments for a ‘but for’ causation test and for counterfactual enquiries into whether the gains could have been authorised if consent had been sought. See: Recovery Partners GP...

Scope of this Practice Note This Practice Note addresses matters linked to technology used to help firms comply with their regulatory duties—often referred to as ‘regtech’. It reviews how the Financial Conduct Authority (FCA) and the Bank of England (BoE) (including the Prudential Regulation Authority (PRA)) engage with regtech, highlights industry activity, and records both the proposal and subsequent withdrawal of an FCA ‘Robo Handbook’. It examines these facets of what has come to be known as ‘regtech’: what is regtech? the FCA’s approach FCA TechSprints digital sandbox other regulator-side developments towards a Robo Handbook industry-side developments other initiatives What is regtech? Regtech is a broad label for the use of technology to help firms discharge regulatory requirements more efficiently and effectively than legacy systems allow—and, at times, for the use of technology by regulators to support their own supervisory responsibilities. The expression is used either in contrast to, or as a subset of, fintech....

As of 31 January 2020, the UK left the EU and the EEA. This Practice Note introduces: the General Data Protection Regulation, Regulation (EU) 2016/679 (EU GDPR) framework (which applied within UK law up to the end of the Brexit implementation period—11 pm UK time on 31 December 2020—and continues to operate across the EEA; therefore, any references in this Practice Note to EEA or EU states should be read as also covering the UK until that period concluded) the United Kingdom General Data Protection Regulation, Retained Regulation (EU) 2016/679 (UK GDPR) framework (which applies under UK law from the end of the Brexit implementation period) Where there is no need to draw a distinction, this Practice Note refers to both as ‘GDPR’ for ease. When looking at the routine processing of personal data, the UK GDPR and the Data Protection Act 2018 (DPA 2018) should be consulted together, as both sets of provisions have direct effect. Practitioners will generally...

NOTE—to see whether notification thresholds in the Netherlands and across the globe are met, see further: Where to Notify 1. Have there been any recent developments regarding the Dutch merger control regime and are any updates/developments expected in the coming year? Are there any other ‘hot’ merger control issues with the ACM? Media Following the Authority for Consumers and Market’s (ACM) prohibition of RTL’s proposed purchase of Talpa (two players in the Dutch television media market) on 30 January 2023, DPG Media announced plans to acquire RTL and filed the deal with the ACM. On 17 May 2024, the ACM concluded that the transaction merited deeper scrutiny and therefore referred the matter to the second (‘licence’) phase. On 18 July 2024, the parties submitted their application for the requisite licence. On 27 June 2025, the ACM issued conditional clearance for the merger in its DPG/RTL decision, imposing stringent behavioural commitments. Notably, the ACM factored media plurality into its competition analysis—an innovative development in Dutch merger control practice...

date [ date ] Parties [ name of Seller ] [ of OR incorporated in England and Wales (company registration number [ number ]) with registered office at ] [ address ] [ and whose address for service in England and Wales is [ address ] ] ( Seller ) [ name of Buyer ] [ of OR incorporated in England and Wales (company registration number [ number ]) with registered office at ] [ address ] [ and whose address for service in England and Wales is [ address ] ] ( Buyer ) [ [ name of Guarantor ] [ of OR incorporated in England and Wales (company registration number [ number ]) with registered office at ] [ address ] [ and whose address for service in England and Wales is [ address ] ] ( Guarantor ) ] 1 Definitions In this Agreement, the terms set out below shall have the meanings given: ...

[ TO BE TYPED ON THE HEADED NOTEPAPER OF THE SPECIAL ADMINISTRATORS’ FIRM ] TO ALL KNOWN CREDITORS [ ENTER DATE ] [ name of Investment Bank ]—in special administration (the ‘Investment Bank’) I am writing to inform you that I was appointed Joint Special Administrator of the Investment Bank on [ date ], together with my colleague, [ name of other special administrator ]. A formal notice of our appointment accompanies this letter. In accordance with the Investment Bank Special Administration Regulations 2011, SI 2011/245 (the ‘Regulations’), the purpose of the special administration is to pursue the following objectives: secure the return of client assets as soon as reasonably practicable maintain prompt engagement with market infrastructure bodies and the authorities pursuant to Regulation 13; and to either: rescue the investment bank as a going concern; or place it into winding up in the best interests of creditors In this...

Date [ date ] Parties [ name of Seller ] [ of OR incorporated in England and Wales (company registration number [ number ]) with its registered office at ] [ address ] [ and whose address for service in England and Wales is [ address ] ] (Seller) [ name of Buyer ] [ of OR incorporated in England and Wales (company registration number [ number ]) with its registered office at ] [ address ] [ and whose address for service in England and Wales is [ address ] ] (Buyer) [ [ name of Guarantor ] [ of OR incorporated in England and Wales (company registration number [ number ]) with its registered office at ] [ address ] [ and whose address for service in England and Wales is [ address ] ] (Guarantor) ] 1 Definitions In this Agreement, the terms set out below shall have the following meanings: Actual Completion...

Section 23 of the Land Registration Act 2002 (LRA 2002) states that: The owner’s powers concerning a registered estate comprise: authority to carry out any disposition allowed by the general law for an interest of that nature, except a mortgage by demise or sub-demise; and authority to charge the estate at law to secure the payment of money. At first glance, these powers appear extremely broad; nevertheless, it is evident that they are qualified by a constraint relating to the ability to grant charges over the land...

It is not clear whether the donor holds a lasting power of attorney (LPA) for property and affairs (P&A), for health and welfare (H&W), or both. As attorneys have determined that the donor’s home should be sold (necessitating a P&A LPA) and that the donor should move into a care home (necessitating a H&W LPA), we proceed on the basis that both LPAs exist and have been registered. We also proceed on the basis that there is more than one attorney. Where authority to act is several rather than joint, the lending attorney may opt out of any decision in which they have a conflict of interests. It is further assumed that: the donor had adequate capacity to enter into the loan the LPAs do not include specific instructions or preferences about when the donor’s home is to be sold and/or when they are to enter a care home (if present, the attorneys should take them into account) the attorney who advanced the loan wishes...

This Q&A is relevant where there is no surviving joint owner of the property Where a joint owner survives, they can take all steps needed to obtain possession. In the absence of a surviving co-owner, an executor’s role is to put into effect the instructions left by the deceased in their Will. Ordinarily, to implement those provisions, the executor will first marshal the estate, then meet what is owed, and finally distribute what remains to beneficiaries in line with the Will’s terms. Gather in all assets; Settle the liabilities; and Distribute the Estate’s proceeds as provided by the Will. To facilitate this, the executor must be recognised as legitimate, which is achieved through a grant of probate. Save where the estate is straightforward and of minimal value (usually under £5,000), a grant will be needed to secure the release of funds from banks and other institutions. Even so, the executor’s authority stems from the Will itself; the grant of probate merely...