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Platforms meaning

What does Platforms mean?
In legal and advisory practice, platforms are online investment administration systems used by advisers and clients to manage portfolios across multiple tax wrappers and products from a single interface. The term is descriptive (not statutory), though the FCA Glossary defines the related concept of a “platform service.” Usage is broadly consistent across England & Wales, Scotland and Northern Ireland; in Ireland, similar services are regulated by the Central Bank of Ireland. Typical legal features include: custody via a nominee company (legal title held by the nominee; beneficial ownership with the client), dealing and settlement, consolidated reporting, rebalancing, model portfolios and access to collective investment schemes (and, on some platforms, ETFs and listed securities). Platforms support wrap accounts and multiple wrappers (e.g., ISA, SIPP and general investment accounts in the UK; PRSAs, ARFs and investment bonds in Ireland). Key regulatory points include FCA authorisation for platform service providers, application of COBS/PROD, MiFID II, best execution, conflicts/inducements, adviser charging, and the UK CASS client assets regime; in Ireland, equivalent Central Bank conduct and Client Asset Requirements apply. Contractually, relationships are governed by platform terms, custody agreements and adviser authorities, addressing fees, transfers/re-registration, outages/operational resilience, data protection and complaints. Platforms are significant for due diligence,...
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View the related Checklists about Platforms

CHECKLISTS
Arbitrators’ Cybersecurity and Data Protection Checklist: Legal and Technical Guidance, GDPR/NIS 2 Considerations, and Procedural Orders from Pre-Appointment through Evidence, Hearing, Award and Post-Award

The Checklist seeks to outline the principal actions that arbitrators should consider across the entire course of a proceeding, beginning with appointment and the first procedural order and ending with delivery of the award and completion of their obligations. It offers direction on the types of provisions that may feature in procedural orders addressing data security throughout the duration and lifespan of an arbitration. Please be mindful, in light of the evolving cybersecurity ecosystem and applicable laws and regulations, that this is not an exhaustive catalogue. Rather, the checklist functions as guidance on best practice and clarifies the considerations that may arise at each milestone. Arbitration phase: pre-appointment of the Tribunal Legal Steps Safeguard your digital identity so you are seen as independent and impartial, notwithstanding the difficulties posed by an online presence. Refer to: Checklist for Arbitrators on the Use of Social Media and the Duty of Impartiality—the cybersecurity approach to arbitration. Technical Steps Adopt appropriate cybersecurity practices...

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CHECKLISTS
Remote access mediation by video conference: practitioner checklist on platforms, security, preparation, conduct and settlement

Checklist on remotely accessed mediations This Checklist outlines the principal points to weigh when deciding if, and in what manner, to take part in a remotely accessed mediation by video conference (VC). With the emergence of the coronavirus (COVID-19) pandemic, use of such mediations expanded, ie, mediations conducted online via VC became noticeably more common. VC mediations—often called ‘online mediation’, ‘remote mediation’ or ‘remotely accessed mediation’—are not the sole option for non face-to-face engagement; mediation can also proceed by telephone. Even so, the simplicity and enhanced user features of the many VC platforms have proved well suited to the process for remote access mediation in practice. For guidance on the parties’ duties to consider alternative dispute resolution (ADR), and the courts’ authority to order or promote consideration of ADR, both before and during litigation, see Practice Notes: Court powers to order or encourage ADR in civil proceedings and Court powers to order or encourage ADR in civil proceedings—key and illustrative decisions...

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CHECKLISTS
UK online advertising T&Cs: lawyers' checklist for reviewing publisher-advertiser (Programmatic Direct) deals, including impressions, makegoods, pricing models, brand safety, data protection (UK GDPR/DPA/PECR), liability and termination.

Checklist Use this Checklist when assessing online advertising terms and conditions, where a publisher (the owner of a website, app or other digital platform) sells advertising space on its platforms to advertisers (brands or advertising/media buying agencies acting for those brands) on a direct basis (Programmatic Direct). Where appropriate, this Checklist may operate as the starting point for straightforward, non-binding heads of terms. For direction on preparing these, see Precedent: Heads of terms—commercial contracts. For a specimen set of a publisher’s standard terms, see Precedent: Online advertising terms and conditions. As you work through the Checklist, the third column can be used to note observations or comments. Employ it to record notes while progressing through each item. Further information Notes (if any) Parties ☐ Verify each party’s legal status and whether the advertiser will contract in its own capacity or via an advertising agency. In some situations an advertiser will enter into the agreement itself; in others, it may appoint an...

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NEWS
UK and EU Competition Weekly: TTBEO consultation; CMA clears Boparan/ForFarmers; HMT growth-focused regulation; DMA actions against Alphabet, Apple interoperability; EU court rulings on antitrust and State aid

In this issue: UK mergers UK antitrust UK Competition policy EU antitrust EU State aid EU Digital Markets Act Daily and weekly news alerts New and updated content Caselex UK mergers CMA unconditionally clears Boparan/ForFarmers (Burston and Radstock mills) merger after phase 2 The CMA has published the final report from its phase 2 review of the proposed purchase by Boparan Private Office Limited, via 2 Agriculture Limited (2Agriculture), of ForFarmers UK Limited’s Burston and Radstock feed mills. ForFarmers is a European producer and distributor of animal feed, with its base in the Netherlands. 2Agriculture, part of the Boparan group, is among the UK’s largest poultry feed suppliers by production volume, directing output to Hook 2 Sisters, a Boparan-affiliated business, and to farmers on the open market. Confirming its provisional findings of 18 February 2025, the CMA concluded the deal is not expected to result in an SLC in local meat poultry feed supply,...

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NEWS
Commercial law weekly: ASA rulings, Meta data dominance claim, waiver/rectification and liability caps, product safety reform, failure to prevent fraud guidance, bill of lading damages, fuel price monitoring

In this issue: Advertising, marketing and sponsorship Consumer protection Contracts Data protection Sale and supply of goods Supplier management LexTalk®Commercial: a Lexis®Nexis community Daily and weekly news alerts New and updated content Dates for your diary Trackers ASA rulings—6 November 2024 The Advertising Standards Authority (ASA) received two complaints about CurrencyWave and Eurostar. Complainants said CurrencyWave’s ad wrongly implied Financial Conduct Authority regulation and used inaccurate price comparisons. For Eurostar, concerns were that Instagram and Facebook ads overstated the availability of £39 fares and omitted key information. The ASA upheld both. See: LNB News 06/11/2024 51. ASA publishes its Vaping Project Review on vaping ads targeted at under-18s The ASA has issued its Vaping Project Review, detailing outcomes from investigations, tech-assisted monitoring, enforcement, stakeholder engagement and advisory work on ads aimed at under-18s since June 2023. It found influencers, companies, agencies and vaping brands posting paid and organic content, plus brand...

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NEWS
EU and UK competition authorities scrutinise Big Tech AI partnerships for exclusivity, non-competes and cloud capacity foreclosure

According to MLex, officials at the European Commission are seeking a summary of the many agreements digital platforms have struck with artificial intelligence developers. Last week, the Commission announced it was inviting public input on competition risks arising from nascent AI technology—and, at the same time, dispatched questionnaires to major tech firms concerning their collaborations in this area. Amazon stated it was among those approached. Big tech has pledged billions to AI...

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PRACTICE NOTES
UK Film and Television Law Glossary: Terms C–D—copyright, collecting societies, broadcasting, distribution

Film and TV glossary A–B Film and TV glossary E–H Film and TV glossary I–L Film and TV glossary M–P Film and TV glossary R–S Film and TV glossary T–W CAP Code for non-broadcast media The UK Code of Non-broadcast Advertising and Direct & Promotional Marketing (the CAP Code) serves as the principal framework governing non-broadcast adverts, promotional sales activity and direct marketing messages. It is drafted by the Committee on Advertising Practice (CAP), a self-regulatory body whose membership comprises organisations representing advertising, sales promotion, direct marketing and media industries. The Advertising Standards Authority (ASA) polices the CAP Code and may require the withdrawal or amendment of any advertisement that contravenes these standards. Refer to Practice Note: Advertising law and regulation. Channel 4 Channel 4 operates as a ‘publisher-broadcaster’: it produces no programmes internally, commissioning content from production companies across the UK. Cinematograph film Under the Copyright Act 1956 (CA 1956), films gained protection as...

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PRACTICE NOTES
UK Digital Markets, Competition and Consumers Act 2024 and EU Digital Markets Act compared: scope, designation, obligations, compliance and enforcement for core platform services and strategic market status

Background This Practice Note presents a concise overview of the main themes for comparing the UK and EU approaches to competition in digital markets. Specifically, it examines the regulatory regimes created by the Digital Markets, Competition and Consumers Act 2024 (DMCCA 2024) and Regulation (EU) 2022/1925 on contestable and fair markets in the digital sector, which amends Directive (EU) 2019/1937 and Directive (EU) 2020/1828, the EU Digital Markets Act (EU DMA). What’s happening in the UK? Online platforms and digital advertising have faced intense regulatory attention across the UK, the EU and further afield, including the USA and Australia. Although digital markets can yield major gains for consumers and for wider economies, that scrutiny revealed weakened rivalry stemming from a small cohort of powerful digital businesses active in the market. In the UK, this led to demands for tougher enforcement powers and pre-emptory tools to permit quicker action. That process culminated in the DMCCA 2024, Part 1 of which introduces new regulatory functions granted to the Competition...

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PRACTICE NOTES
UK CMA accepts Epyx commitments on 1link Service Network SMR platform investigation: Chapter II Competition Act 1998 and Article 102 TFEU; archived case hub (2011–2014)

CASE HUB ARCHIVED –this archived case hub reflects the position at the date of the decision of 9 September 2014; it is no longer maintained. Case facts Overview of an OFT Chapter II and Article 102 TFEU investigation into Epyx Limited (Epyx) regarding its conduct in the UK market for supplying service, maintenance and repair (SMR) platforms. In the UK, Epyx operates the 1link Service Network SMR platform. Latest developments On 9 September 2014, the CMA confirmed it had accepted commitments from Epyx. These undertakings remove, and in some cases amend, potentially restrictive provisions in Epyx’s agreements for use of the 1link Service Network, creating clearer opportunities for rival entry, notably by making it easier for Epyx’s existing customers to move to competitors if they wish. The commitments will apply for five years. On 4 June 2014, the CMA announced it was consulting on improved...

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PRECEDENTS
Employee social media use—ethical standards for professional and personal activity, including confidentiality, IP and authority to speak for the organisation

Social media Social media platforms and services provide powerful means to bolster our brands, advertise our products and services, and cultivate relationships with our existing customers and potential clients. They enable open dialogue, debate, and the exchange and circulation of information. Within this Code, ‘social media’ refers to evolving, socially interactive, networked information and communication technologies that enable personal details, viewpoints, or other material to be displayed for public viewing on the Internet, and shared openly with audiences. This covers social networks or platforms, community websites, blogs, microblogging services, wikis, web forums, social bookmarking tools, and user review services...

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PRECEDENTS
DC pension scheme SIP template: objectives, default lifecycle design, fund range and risk, ESG stewardship, manager oversight on insurer platforms, and compliance with Pensions Act 1995 and 2005 Investment Regulations

Effective from [ insert date ], this statement of investment principles applies. 1 Statement of investment principles 1.1 Purpose of statement This document outlines the principles that steer decisions on investing the assets of the [ insert name ] Pension Scheme (the Scheme). It is published by the Trustees of the [ insert name ] Pension Scheme (the Trustees) to meet the requirements of the Pensions Act 1995, s 35. 1.2 Review The statement will be assessed each year. The Trustees may conduct an ad hoc review at any time if they consider there has been a material change in investment policy, or any other circumstances affecting the Scheme. 1.3 Advice The Trustees have received and evaluated written advice on the contents of this statement in a letter from [ insert name of investment consultant or actuary ]. [ insert name ] have confirmed to the Trustees that, through their ability and practical experience in financial matters, and with appropriate knowledge...

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PRECEDENTS
Internal client service complaints reporting and referral form for law firms

A complaint may cover any statement of dissatisfaction regarding the service provided by us. Complaints can arrive in writing (eg letter, email, social media, or online review platforms) or be made verbally, in person or by telephone. If a client, or any individual linked to a matter on which you are working, or for which you are supervisor, raises a concern or complaint, you must notify [ insert name of person responsible for handling complaints ] using this Internal complaint report form. This remains the case even if you consider the issue could/should be managed informally...

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