Regulatory objectives meaning

This guidance is designed to help law firms weighing up whether to outsource any part of their facilities management. It highlights the principal points to address before appointing a third‑party supplier to deliver facilities management services. It should be read alongside Practice Note: Facilities management agreements-law firms. It does not deal with regulatory inspection rights under the SRA Codes of Conduct, which are engaged when third parties perform functions on your behalf that are critical to the provision of your legal services. For more on SRA inspection rights and other regulatory matters, see subtopic: Outsourcing-law firms. Issue - Questions to consider - Response Your objectives Why are you proposing to enter into a facilities management agreement? What are you aiming to achieve, eg is the focus...

In this issue: COP29 Air emissions and climate change Energy efficiency and buildings Energy efficiency of products Energy for environmental lawyers Environmental taxes, reliefs and incentives ESG and sustainability Nature, biodiversity and habitat conservation Waste Water, flooding and drainage Daily and weekly news alerts New and updated content Trackers New Q&As COP29 Looking ahead to COP29 The 2024 United Nations Climate Change Conference—COP29—will take place in Baku, Azerbaijan, from 11 to 29 November 2024. Paul Collins, a senior associate at Ashfords LLP, shares insight on the conference’s objectives and anticipated outcomes. See News Analysis: Looking ahead to COP29. UK government announces new climate change goals at COP29 At COP29 in Baku, the UK government set fresh climate objectives, pledging an 81% cut in emissions by 2035 against 1990 baselines. In line with the Climate Change Committee’s advice and the UK’s sixth carbon budget, this will constitute the...

In this issue: Key R&I law developments Insolvency litigation Directors and insolvency Creditors’ participation International restructuring and insolvency Daily and weekly news alerts Key dates for restructuring and insolvency professionals New content New Q&As Key R&I law developments Insolvency Service publishes annual plan for 2025–26 fiscal year The Insolvency Service has set out its annual plan for 2025–26, detailing objectives and priorities for the coming fiscal year. As the final year of its current five-year strategy, the plan emphasises supporting economic growth and stability via a more robust regulatory regime. Core aims include bolstering the insolvency framework, tackling financial misconduct, and assisting people facing financial difficulty. The Service also indicates that new longer-term strategic plans, covering Scotland, England and Wales, will be unveiled in early 2026. See: LNB News 22/07/2025 56. Insolvency Service publishes monthly insolvency statistics for June 2025 The Insolvency Service has released its June 2025 monthly insolvency statistics on...

In this issue: UK, EU and international regulators and bodies Authorisation, approval and supervision Prudential requirements Financial stability Risk management and controls Financial crime and sanctions Consumer protection Investigations, enforcement and discipline PRIIPs Regulation of derivatives Banks and mutuals Sustainable finance and ESG Investment funds and asset management Consumer credit, mortgage and home finance Regulation of insurance Regulation of personal pension and stakeholder products Payment services and systems Spring Budget 2024 EEA Agreement Annex IX (Financial Services) Daily and weekly news alerts New and updated content Dates for your diary UK, EU and international regulators and bodies FCA sets out business plan for 2024–25 and outlines its approaches to supervision, consumers, international firms and competition The Financial Conduct Authority (FCA) has released its business plan for 2024–25—the concluding year of its three-year strategy aimed at delivering improved outcomes for consumers and...

This Practice Note examines core aspects of the UK framework for money market funds (MMFs) that stems from Regulation (EU) 2017/1131 (the EU MMF Regulation). It also looks at suggested changes to the framework, with the Financial Conduct Authority (FCA), HM Treasury and the Bank of England (BoE) working jointly to bolster its resilience and align it with post‑Brexit regulatory objectives. For background on the EU MMF Regulation, see Practice Note: EU MMF Regulation—essentials. What is an MMF? Money market funds (MMFs) are investment funds that invest in short‑term debt instruments and so play a significant role in the short‑term financing of the economy. In particular, MMFs are open‑ended, liquid investment funds that invest in fixed income through short‑term debt, for example money market instruments issued by banks, governments or companies (including treasury bills, commercial paper and certificates of deposit) which pay interest. They therefore form an important connection between demand for, and the supply of, short‑term debt. Further information on the eligible assets of an MMF is...

This Practice Note sets out the essentials of Regulation (EU) 2024/2847, the EU Cyber Resilience Act (CRA): its background, timeline, aims, and how it aligns with other EU laws. For details on the CRA’s scope or core duties for economic operators, see the following Practice Notes: The EU Cyber Resilience Act—scope and classification of products The EU Cyber Resilience Act—obligations, compliance and enforcement Regulation (EU) 2024/2847, known as the CRA, is the first EU measure to set mandatory cybersecurity requirements for ‘products with digital elements’ across the EU. From December 2027, products that do not satisfy these requirements cannot be placed on the EU market. Accordingly, compliance will be crucial for market entry for both hardware and software. Manufacturers, importers and distributors will have extensive cybersecurity responsibilities and risk significant fines for non-compliance. The CRA was published in the Official Journal of the EU on 20 November 2024, entered into force on 10 December 2024, and applies in full from 11...

This Practice Note examines the Bank of England (BoE) and the Prudential Regulation Authority (PRA)’s supervisory expectations for banks and insurers in managing climate‑related financial risks, as articulated in supervisory statement SS3/19 (updated November 2024), alongside the related policy statement PS11/19. Background and introduction On 15 April 2019, the PRA issued PS11/19: Enhancing banks’ and insurers’ approaches to managing the financial risks from climate change, which summarised responses to consultation paper CP23/18 and included the final SS3/19 setting out the PRA’s expectations. The PRA observed that climate change, and society’s response to it, generate financial risks relevant to its objectives and, although such risks may fully emerge over longer horizons, they are already starting to be seen. SS3/19 set the expectation that firms take a strategic approach to climate‑related risk management, identifying present exposures and plausible future risks, and implementing suitable measures to mitigate them. A revised SS3/19, updated to reflect PS15/24—Review of Solvency II: Restatement of assimilated law, was published on 15 November 2024. The PRA’s...

1. Purpose of the meeting and objectives Outline what you require from the meeting and the reasons. For example: Confirm legal resource aligns with the organisation’s needs Explore outsourcing certain legal services or reducing expenditure on external legal support Review the history of using external legal advisers (who, cost, quality, etc.) Be updated on the future types and volumes of legal support the organisation will need [ Insert your initials ] 2. Advice from regulatory bodies Ask: Which trade or industry bodies does the Head of Function (HoF) belong to or actively follow? ...

Agenda item Supporting documentation (to be supplied before or after the meeting) Commentary or action 1. Purpose of the meeting and objectives Set out what you require from the meeting and the rationale, for example: ensure legal capacity aligns with the organisation’s needs explore whether to outsource certain legal work or cut expenditure on external legal assistance review past engagement with external legal advisers (providers, costs, quality, etc.) gain clarity on the kinds and quantities of legal support the organisation will need in future [ Insert your initials ] 2...

Agenda item Supporting documentation (to be provided before or after meeting) Comment or action 1. Purpose of the meeting and objectives Set out what you require from the meeting and the reasons, e.g.: confirm legal resources align with the organisation’s needs explore whether to outsource certain legal services or trim spend on external legal support review the track record of using external legal advisers (who, cost, quality, etc.) be briefed on the types and volumes of legal support the organisation will need in future [ Insert your initials ] 2. Strategy and projects: Ask: what changes have occurred within the HR Department during the past five years? which legal advisers worked on those changes, who appointed them, why they were selected, who managed them, and what they advised on, e.g. legal, regulatory, PAYE, pensions, etc.? is any change or restructuring expected over the next five years? is any element...