Medium term meaning

Achieving a meaningful induction Most organisations operate a regimented yet, to be candid, shallow onboarding for new hires. Largely, HR procedures dictate it, ticking off essential policy requirements — security, health and safety, and internal control frameworks. Beyond that, the general counsel (GC) ought to make sure you’re introduced to pivotal people across your team and the wider company in a considered, organised manner. Still, much of this serves more to alert colleagues that someone has arrived than to genuinely support the newcomer. In essence, the process often prioritises protocol and optics over substance and genuine support for the new hire initially. The task, therefore, is to turn the induction window into something valuable. It’s an opportunity the new joiner should shape proactively to serve their interests early on...

Introduction Guidance on establishing a medium term note (MTN) programme is set out in Practice Note: Setting up an MTN Programme—timeline of process. This Practice Note concentrates on the steps for an issuance of notes (a drawdown) carried out under an MTN programme (the programme) once that programme has been put in place. Type of drawdown A programme will ordinarily provide for two forms of drawdown: a drawdown agreed between the issuer and a dealer (a dealer drawdown); and a drawdown agreed between the issuer and a group, or syndicate, of dealers (a syndicated drawdown). In addition, the programme will usually permit further dealers to accede to the programme, either as permanent members of the dealer panel or for the purposes of a single drawdown. Notification to dealer(s) The issuer then notifies the dealer(s) of its intention to draw down under the programme—this can be done by means of a term sheet or by way of an Initial...

This flow chart outlines the various stages of a UK anti-dumping inquiry when the Trade Remedies Authority (TRA) has received a submission seeking imposition of anti-dumping duties...

Checklist for listing debt securities on the Irish Stock Exchange trading as Euronext Dublin (‘Euronext Dublin’) This diagram presupposes that the issuer, as follows: has listed debt securities in the past; and intends to list standard debt securities or a medium term note programme...

Risk & Compliance weekly highlights—24 October 2024 In this issue: Data protection and cyber security Financial sanctions AML, CTF & counter-proliferation financing Other financial crime Other Risk & Compliance updates this week Question of the week Daily and weekly news alerts Trackers New and updated content Latest Q&A Data protection and cyber security EAC outlines proposals on the future of UK-EU data adequacy The House of Lords European Affairs Committee (EAC) has sent a letter to the Secretary of State for Science, Innovation and Technology, capturing the Committee’s key findings and recommendations arising from its inquiry into UK-EU data adequacy. See: LNB News 22/10/2024 111. NCSC publishes advice on communicating during a cyber security incident The National Cyber Security Centre (NCSC) has issued guidance for organisations on managing communications before, during and after a cyber security incident. It identifies three essential principles: prepare a communications plan in advance; communicate clearly...

What rehabilitation involves Rehabilitation is a broad umbrella term. At its best, it draws on a multidisciplinary model, with a team of therapists recruited and overseen by a case manager. The case manager co-ordinates and project-manages the input, monitors progress, and intervenes to secure the strongest possible outcome. Both therapeutic input and case management are fundamentally people-centred. However far AI progresses in the short, medium and long term future, it is hard to imagine a moment when either role could be automated completely, or even in part. Even so, AI can reduce administrative burdens and enable those involved to maximise contact time with people who need support. Harnessing data and AI If we consider the information typically available for each individual patient—previous treatments, medicines and test results—it is easy to see how this could be complemented by data on their demographics, medical history, family background, and the advances in technology built into our watches and phones, etc. While these sources of information are sometimes used during patient...

In this issue: Environmental, Social and Governance Issues Accounts and reports Corporate Governance Public company takeovers Data Protection Daily and weekly news alerts Dates for your diary Trackers Useful information Environmental, Social and Governance Issues FCA consults on UK Sustainability Reporting Standards The Financial Conduct Authority (FCA) is seeking feedback on bringing listed companies’ sustainability statements into line with the UK Sustainability Reporting Standards (UK SRS). Consultation paper CP26/5 invites opinions on substituting the FCA’s existing disclosure regime, which is aligned to the Task Force on Climate-related Financial Disclosures (TCFD), with a UK SRS-based reporting model for relevant listed entities. Submissions are requested by 20 March 2026. See: LNB News 30/01/2026 58. Accountancy Europe publishes factsheets on Omnibus Directive changes to CSRD and CSDDD Accountancy Europe has released factsheets examining the EU Omnibus Directive, which revises both the Corporate Sustainability Reporting Directive (CSRD) and the Corporate Sustainability Due Diligence Directive (CSDDD). The...

Contributions to charities or political causes may elevate exposure to bribery and corruption risks in practice. In some circumstances, such payments may amount to, or be perceived as, concealed bribes. This Practice Note explains what constitutes charitable and political donations, the associated risks, and measures to reduce those risks. Charitable donations A charitable donation is a voluntary gift from a person or business to a charity or other not-for-profit organisation. This may involve providing money, facilities, equipment, staff time, or another benefit to a charity, or to an individual or body designated by, or linked to, that charity, for instance. Although commonly discussed together (as here), charitable donations are usually quite distinct in nature from political donations. The majority of charities are unconnected with politics and hold no decision-making authority or sway over procurement choices; accordingly, the likelihood that a charitable gift is corrupt, or viewed as corrupt, is lower overall. Indeed, many organisations regard charitable giving as a key element of their corporate social responsibility programmes...

Role The role of credit rating agents (CRAs) is to deliver an independent, analytical view of the likelihood of payment default, by assessing multiple factors that guide investors on whether to commit to specific securities. Capital market investors are highly sensitive to risk, and some are constrained by their internal constitutional documents from investing in lower grade instruments. As a rule, the greater the investment risk, the higher the return (interest/coupon) demanded by investors. Ratings may apply to both the company issuing the instruments and the instruments themselves. An issuer’s debt can be rated apart from the issuer, for example where the issuer is a special purpose vehicle created solely for the issuance, or where the debt benefits from credit enhancements (eg a guarantee) that lift it above the issuer’s own standing rating. For example, the following can be rated: the issuer senior debt/syndicated loans medium term notes (MTNs) commercial paper (CP) fixed income securities sovereign debt residential mortgage...

ARCHIVED This Practice Note is archived and no longer maintained. It offers historical context and outlines concepts such as UK mini-bonds and the Order Book for Retail Bonds (ORB). With the advent of the new UK prospectus regime, these concepts are being phased out or materially reformed. It is provided for background information only. For more on the new UK prospectus regime, see Practice Note: The UK Prospectus Regulation—essentials [Archived]—Reform of the UK prospectus regime. Introduction Traditional debt capital markets Historically, large corporates have tapped the debt capital markets to raise funds from an investor base made up largely of investment funds, pension funds, insurance companies and other institutional investors. Consequently, debt capital markets transactions have typically been characterised by: substantial issue sizes—typically at least £50m (or the equivalent in another currency) and frequently above £100m uniform distribution and underwriting procedures, whereby a lead manager with co-managers—or dealers for issues under a Euro Medium-Term Note (EMTN) programme—interposes between the issuer and prospective...

The parties agree: From: [ insert name of publisher ] (‘we’ and ‘us’) of [ insert address ] From: [ insert name of company ] (‘you’ and ‘your’) of [ insert address ] Dated: [ insert date ] Dear [ insert organisation name ] ‘[ insert name of programme ]’ (the Programme) 1 Subject to, and in consideration of, your payment to us of the amounts specified in Schedule 1 (receipt of which is acknowledged), we hereby provide you with a non-exclusive licence covering the musical and literary works (the Works), the details of which are set out on the cue sheet in Schedule 2...

[To be placed on the client’s letterhead or bearing the client’s logo] Status disagreement process This document outlines the procedure that [ insert name of client ] operates to consider any representations submitted by a Worker and/or a deemed employer where they believe that a status determination statement (SDS), issued by [ insert name of client ] and provided in accordance with the requirements of section 61NA of the Income Tax (Earnings and Pensions) Act 2003 (ITEPA 2003) in relation to the off-payroll rules, is incorrect. Adhering to this procedure ensures that the duty contained in ITEPA 2003, s 61T is met. We use the term ‘Worker’ to describe the individual who supplies services to us for one or more Engagements through an intermediary, being the Worker’s personal service company (PSC). Where there is no direct contractual relationship between us and the PSC, the entity with whom we have a contract is referred to as the Agency. As the business that is, or will be,...

This term sheet outlines a plan to motivate key staff of [ insert name of company ] (the ‘Company’) through the award of statutory tax-advantaged Enterprise Management Incentive (EMI) share options over the Company’s shares (‘EMI Options’). All matters raised here are for discussion only and should be considered carefully before any implementation. 1 Overview The EMI scheme is a very adaptable and tax-efficient share option arrangement designed specifically for small/medium-sized businesses. EMI is among the most popular share option schemes available to companies. EMI Options must be granted for genuine commercial reasons to recruit or retain an employee, and not as part of any scheme or arrangement where the main purpose (or one of the main purposes) is the avoidance of tax. Under this proposal, participants will be granted EMI share options with an exercise price set at the date of grant. The EMI scheme operates on a discretionary basis...