Opt-out of EU policy area meaning

'Twin peaks' regulatory structure The 2007–2008 financial crisis prompted a sweeping overhaul of the UK’s supervisory framework. The new model, effective from 1 April 2013, is widely referred to as ‘twin peaks’ regulation. Under this arrangement, responsibilities are divided between: Prudential oversight — undertaken by the Prudential Regulatory Authority (PRA) for insurers, banks, building societies, credit unions and systemically important investment firms. Conduct supervision — undertaken by the Financial Conduct Authority (FCA), which also carries out prudential regulation of investment firms that are not systemically important. The framework also encompasses the Bank of England (the Bank) and its Financial Policy Committee (FPC), and the Payment Systems Regulator (PSR), a subsidiary of the FCA that began operating in 2015. For a visual outline, see Practice Note: Regulatory structure diagram. For more on the UK regulators, see Overview: UK regulators—financial services—overview, and for how they interact with each other and non-UK regulators, see Practice Note: Interaction between the PRA, FCA and FPC...

ARCHIVED: This Practice Note has been archived and is no longer maintained. On 20 December 2017, the European Commission set out plans to reform the prudential regime for investment firms across the European Union, with the aim of delivering a framework that is more proportionate and more sensitive to risk. Those proposals ultimately resulted in the Investment Firms Regulation (EU) 2019/2033 (EU IFR) and the Investment Firms Directive (EU) 2019/2034 (EU IFD). As the EU regime only started to apply from 26 June 2021 (ie after the end of the implementation period that followed the UK’s withdrawal from the EU), it therefore did not automatically take effect in the UK. In June 2020, HM Treasury outlined, via the Financial Services Bill, its intention to legislate for an Investment Firms Prudential Regime (IFPR) that would broadly mirror the EU IFR and EU IFD while being tailored to the UK. The Financial Services Bill received Royal Assent on 29 April 2021 and became law as the Financial Services Act 2021 (FSA...

This timeline outlines notable milestones linked to the Solvency UK regulatory regime. For earlier milestones, please see: Solvency II—timeline (2007–2023) [Archived]. 2026 Date: 11 March 2026 | Source: PRA | Document: PRA fines U K Insurance Limited £10,625,000 The Prudential Regulation Authority imposed a £10,625,000 penalty on U K Insurance Limited after a miscalculation of its Solvency II balance sheet in 2023 and 2024 led to overstated solvency figures reported to both the regulator and to the wider market. UKI Limited is a subsidiary and principal underwriter of Direct Line Group, and is now part of Aviva plc. This marks the PRA’s first public enforcement action in which the Early Account Scheme (EAS) has been applied. See: PRA fines U K Insurance Limited £10.6m for Solvency II micalculation Date: 25 February 2026 | Source: PRA | Document: CP4/26 — UK Solvency II Own Funds: Updates and fixes to rules and expectations The PRA...

Antitrust Commission launches investigation into Google’s use of publisher and YouTube content for AI training The Commission has initiated a formal competition investigation to determine whether Google has infringed Article 102 TFEU by using web publishers’ material and content uploaded to YouTube for artificial intelligence (AI) purposes on unfair terms (AT.40983). Commission’s concerns The Commission is assessing whether Google has: used web publishers’ content to produce AI-driven features on Google Search, including AI Overviews (AI-generated summaries shown above organic results) and AI Mode (a chat-style search tab), without proper remuneration and without giving publishers a meaningful way to refuse such use without risking reduced access to Google Search, and/or used YouTube material, including videos and other uploads, to train its generative AI models without compensating creators and without providing an opt-out...

In this issue: Air emissions and climate change Contamination and pollution Energy efficiency and buildings Energy for environmental lawyers Environmental information Environmental taxes, reliefs and incentives ESG and sustainability Hazardous substances and chemicals Nature, biodiversity and habitat conservation Waste Water, flooding and drainage Daily and weekly news alerts New and updated content Air emissions and climate change Greenhouse Gas Removals (GGR)-UK government publishes Business Model documentation On 27 August 2025, the Department for Energy Security and Net Zero (DESNZ) released a suite of papers on its proposed Greenhouse Gas Removals (GGR) Business Model and accompanying policy. The Lexis+ Energy team, working with Navraj Singh Ghaleigh, Senior Lecturer in Climate Law at the University of Edinburgh Law School, set out the context for the GGR Business Model; its relationship with the Power BECCS Business Model; the technologies the GGR framework intends to encompass; its legal footing and principal features; and how...

In this issue: Key developments and materials Electricity and gas market regulation and licensing Renewable energy Conventional power, waste to energy, biomass, and CHP projects International energy Daily and weekly news alerts New and updated content Dates for your diary Trackers New Q&As Key developments and materials DBT publishes UK’s critical mineral strategy The Department for Business and Trade (DBT) has released a suite of resources setting out the government’s plan to secure supplies of critical minerals for UK industry and energy security. The Resilience for the Future policy paper explains that the UK will speed up growth of domestic capability, work with international partners, and strengthen global markets so they are more responsive, transparent, and responsible. See: LNB News 10/05/2024 31. Electricity and gas market regulation and licensing Ofgem launches BAT consultation Ofgem has opened a consultation on lifting the current prohibition on acquisition-only tariffs (BAT). The ban was...

This Resource Note spotlights commentary, analysis and materials to aid interpretation and give practical guidance on applying Chapters 1, 1A, 1B and 1C of the Disclosure Guidance and Transparency Rules: DTR 1, DTR 1A, DTR 1B and DTR 1C respectively. Materials referenced here include, where pertinent: the Financial Conduct Authority (FCA) Handbook FCA Knowledge Base guidance—Procedural notes and Technical notes (constituting formal guidance and binding on the FCA) FCA consultation papers, discussion papers, policy statements, feedback statements and warnings Primary Market Bulletins and other FCA publications former UKLA technical and procedural notes and the UKLA newsletter List!, where still relevant to interpreting or applying a provision assimilated EU legislation EU Directives and EU Regulations, where relevant to interpreting a provision Lexis+ UK analysis and resources Setting the scene What it covers: DTR 1 sets out the Disclosure guidance, explaining its scope and purpose; DTR 1A sets out the transparency rules with their scope and purpose;...

NOTE—to check whether notification thresholds in Vietnam and worldwide are triggered, please consult: Where to Notify. 1. Have there been any recent developments regarding the Vietnamese merger control regime and are any updates/developments expected in the coming year? Are there any other ‘hot’ merger control issues in Vietnam? In 2020, Vietnam promulgated Decree 35 on Detailed Regulations for Implementation of the Law on Competition dated 24 March 2020 (Decree 35), which became effective on 15 May 2020. This marked a pivotal step in putting into operation the competition framework envisaged under the Law on Competition dated 12 June 2018 (Competition Law). The body designated under the Competition Law, the Vietnam Competition Committee (VCC), was established on 1 April 2023 and from that date assumed responsibility for the merger control regime. Decree 35 introduced the following clarifications to merger control: Notification thresholds, under which a transaction must be notified where: the total assets or turnover in Vietnam of...

UK battery strategy In December 2023, the UK government set out its battery strategy, created by and delivered through the UK Battery Strategy Taskforce. Its core pillars are: Design Build Sustain The principal aim to 2030 is to establish a robust UK battery supply chain. Regulation is expected to evolve to incorporate extended producer responsibility (EPR) obligations, shifting the full cost of managing household waste to producers, in line with the ‘polluter pays principle’. Under EPR, producers are anticipated to: Achieve updated recycling targets Provide clear recyclability labelling Commitments by the UK government and the devolved administrations to implement EPR appeared in the 2018 Resource and Waste Strategy for England and the Welsh Government’s Beyond Recycling. Alongside outlining Defra’s future commitments and actions, the strategy set a long-term policy trajectory, reflected in the Environment Improvement Plan 2023 for England. For further detail, see Practice Note: Waste management plan and policies—England. Part 3 of the...

This Precedent sets out a broad template for a website privacy policy, informing data subjects about how a site operator gathers personal data, the lawful grounds for processing, subsequent uses and potential recipients. It has been prepared to meet the EU GDPR’s information and transparency obligations, taking account of guidance from the European Data Protection Board (EDPB). The website privacy policy sits within a wider collection covering website terms of use, e‑commerce, privacy and cookies. Where cookies or similar tools are deployed, a distinct cookie policy is required. See Precedent: Ireland—Cookie policy. EU GDPR and UK GDPR Designed for commercial organisations established in Ireland, this Precedent reflects EU GDPR requirements. It also offers optional clauses for Irish organisations that maintain a UK establishment and/or provide goods or services to, or monitor the behaviour of, people in the UK, bringing them within the scope of equivalent UK data protection laws. The UK GDPR and EU GDPR regimes are largely consistent...

1 Introduction This Precedent sets out a social media policy for employers to apply to employees and other workers, covering business and private use of social media, permitted platforms, monitoring and conduct matters. It is intended for inclusion within an employee handbook, or also for use as a stand-alone policy. It takes account of: Regulation (EU) 2016/679, EU GDPR and the Data Protection Act 2018 (Ireland), and Although the Article 29 Working Party Opinion is mainly founded on Directive 95/46/EC, the Data Protection Directive, it also looks towards the obligations under Regulation (EU) 2016/679, EU GDPR. The Article 29 Opinion considers separately the review of an individual’s social media profile: during the recruitment process and during employment Paragraph 1.1—Introduction: reference to internet, email and communications policy For a sample internet, email and communications policy, see Precedents: Ireland—Policy—internet, email and communications or Ireland—Policy—internet, email and communications (short form). 1.1 The Company acknowledges that the...