Monetary policy meaning

In this issue Trusts Court of Protection Elderly and vulnerable clients UK taxes for Private Client HMRC Manuals updates Tax avoidance, evasion and non-compliance Budgets and Finance Bills Contentious trusts and estates Pensions, insurance and tax efficient investments International Question of the week Additional Private Client updates this week Daily and weekly news alerts LexTalk®Private Client: a Lexis+® community New and updated content Dates for your diary Trackers Latest Q&As Useful information Trusts Insufficient credible evidence led to rejection of trustee expense claims (Hubbard v Hubbard) An account in common form concerning a trust holding development land, with trustees reporting to beneficiaries. The court determined the trustees failed to properly substantiate numerous costs, leading to substantial disallowances. Core principles include: trustees bear the onus to prove expenditure charged to the trust; poor or absent records are no excuse; and the court may grant a...

Context The Water (Special Measures) Act 2025 (W(SM)A 2025) was brought before Parliament on 4 September 2024 and attained Royal Assent on 24 February 2025. It stems from broad dissatisfaction with the behaviour and performance of water and sewerage undertakers across England and Wales. Public trust has been undermined by repeated pollution control failures, chronic underinvestment in infrastructure, and the awarding of executive bonuses. In 2022–2023, £9.7m in bonuses and benefits went to senior executives, even as serious pollution incidents increased. Four companies were responsible for over 90% of those incidents. Ofwat research found only a quarter of customers believed water companies act in the public interest. In response, the government pledged legislation to hold poor performers to account, bolster regulatory powers, and start restoring confidence. W(SM)A 2025 is presented as the first step in a broader, continuing reform programme. Key provisions Remuneration and governance W(SM)A 2025 gives Ofwat the authority to stop water companies granting performance-related bonuses where minimum performance thresholds are missed. In setting...

In this issue: Data protection Cybersecurity Reputation management Daily and weekly news alerts New and updated content Data protection Abuse of the right of access and causality (Brillen Rottler) The Court of Justice has issued a judgment in Brillen Rottler clarifying the limits of the right of access in Article 15 of the EU’s General Data Protection Regulation, Regulation (EU) 2016/679. It found that even an initial access request can be treated as “excessive” where the data subject acts with an abusive purpose, marking a move from a numerical to a qualitative appraisal of excessiveness. The Court also confirmed that Article 82(1) liability covers administrative breaches—for example, an unjustified refusal of an access request—even in the absence of a discrete processing operation. However, it applied a causation safeguard to prevent the EU GDPR being exploited for purely monetary motives. Damages are not payable where the data subject’s own provocative conduct is the decisive cause of the loss. The...

1. Have there been any recent developments regarding the Togolese merger control regime and are any updates/developments expected in the coming year? Are there any other ‘hot’ merger control issues in Togo? Competition in Togo is governed by Law No 99-011 of 28 December 1999 on the organisation of competition in Togo (the Competition Law), which omits any merger control rules. The Directorate of Domestic Trade and Competition (DCIC) serves as the country’s central administrative competition authority under the Minister of Commerce. As a member of the West African Economic and Monetary Union (Union Economique et Monétaire Ouest Africaine) (WAEMU), Togo is bound by WAEMU competition rules as set out in Directive 02/2002/CM/UEMOA (the WAEMU Regulations). WAEMU holds sole and exclusive competence for merger control throughout its member states. National bodies may lawfully oversee competition within the domestic market, flag anticompetitive behaviour, and refer any filing requesting negative clearance or an individual exception to the WAEMU Commission. Togo also belongs to the Economic Community of West African States (ECOWAS)...

The European Central Bank (ECB) sits at the heart of the Eurosystem and the European System of Central Banks (ESCB). It replaced the European Monetary Institute on 1 June 1998 and, from 1 January 1999, took full charge of monetary policy decision-making for the euro zone. In 2014, it also took on comprehensive supervisory duties for banks in Member States participating in the Single Supervisory Mechanism. The ECB works alongside the European Supervisory authorities, in particular the European Banking Authority (EBA). The EBA’s principal role is to help develop the European Single Rulebook in banking, designed to deliver a single set of harmonised prudential rules for financial institutions across the EU. Background to the ECB The ECB was founded under Article 8 of the Treaty on the Functioning of the European Union as a specialised, independent organisation for conducting monetary policy. Together with the national central banks of Member States that have adopted the euro, it forms the Eurosystem, which serves as the monetary authority for the euro...

NOTE—to check whether notification thresholds in Chad and throughout the world are satisfied, please see further: Where to Notify. 1. Have there been any recent developments regarding the Chadian merger control regime and are any updates/developments expected in the coming year? Are there any other ‘hot’ merger control issues in Chad? Chad’s competition framework is set out in Law No. 43/PR/2014 of 24 December 2014 on competition (the Competition Law). The body tasked with receiving notifications under this statute is the National Competition Council, created under Article 35 of the Competition Law. Members of the National Competition Council were designated by Decree No. 284/PR/19 of 12 March 2019. Chad is also a member of the Central African Economic and Monetary Community (CEMAC), which operates a separate competition regime for mergers with a regional scope. CEMAC’s merger control system is contained in Regulation No. 06/19-UEAC-639-CM-33 of 7 April 2019 (the CEMAC Competition Regulation). At present, we are not aware of any recent changes to the Chadian merger control regime...

1 Pro bono vision 1.1 We accept our duties to clients, colleagues, suppliers and other stakeholders, alongside the broader community in which we work. Through our policies and day-to-day practices, we seek to uphold exemplary governance and client service, and to foster a constructive workplace that enables our people to grow while actively supporting our local community... 1.2 We recognise that many in our society face barriers to the justice system when seeking to resolve legal issues. As lawyers, we are uniquely placed to assist. Providing pro bono advice and representation to those in need is a core element of our commitment to the community... 1.3 We will endeavour to contribute [insert the amount of support the organisation will aim to provide for pro bono work, such as a defined number of hours per lawyer, the monetary value of otherwise chargeable time, or a percentage of annual billings] to deliver pro bono support to individuals and community organisations who struggle to obtain legal services...

We conduct our operations with honesty. Purchasing goods and services accounts for a substantial share of [ insert organisation’s name ]’s overall spend. We all must collaborate to make sure our buying is performed in a responsible and efficient way. 1 Introduction 1.1 [ Insert organisation’s name ] strives for excellence across every area of its activities. Effective procurement (buying) is acknowledged by [ insert organisation’s name ]’s executive team as a key driver in delivering [ insert organisation’s name ]’s corporate goals and success. 1.2 This policy outlines the procedures to ensure [ insert organisation’s name ]’s procurement (buying) practices are fair and comply with all relevant laws and regulations, while securing best value for money and lowering operating costs. 1.3 All employees must adhere to these procedures. 1.4 All monetary figures are expressed net of VAT. 1.5 All procurement documents can be obtained from [ insert, eg the procurement or legal department ]. ...