Revised offer document meaning

In this issue: Financial sanctions AML, CTF & counter-proliferation financing Data protection, cybersecurity and AI Complaints Other Practice Compliance updates this week LexTalk®Practice Compliance: a Lexis®Nexis community Daily and weekly news alerts Trackers New and updated content Financial sanctions DBT and OTSI update guidance on trade sanctions breach assessments The Department for Business and Trade (DBT) and the Office of Trade Sanctions Implementation (OTSI) have revised their guidance on how trade sanctions breaches are assessed. Section 5, ‘Referral to HMRC’, has been updated to state clearly that HMRC holds the power to offer compound penalties in criminal enforcement cases. See: LNB News 01/08/2025 24. DBT updates guidance on countering Russian sanctions evasion and circumvention The DBT and OTSI have refreshed their guidance on addressing Russian sanctions evasion and circumvention. Updates include changes to the non-exhaustive list of countries where businesses should consider enhanced due diligence on customers located there, and additions...

In this issue: UK, EU and international regulators and bodies Authorisation, approval and supervision Investigations, enforcement and discipline Prudential requirements Risk management and controls Financial crime and sanctions Regulation of capital markets Packaged Retail and Insurance-based Investment Products (PRIIPs) Dispute resolution for financial services lawyers Regulation of derivatives Sustainable finance and ESG EU MiFID II Consumer credit, mortgage and home finance Investment funds and asset management Payment services and systems Fintech and cryptoassets LexTalk®Financial Services: a Lexis®Nexis community Financial Services Enforcement Database Daily and weekly news alerts Intraday news alerts New and updated content UK, EU and international regulators and bodies BoE publishes PRA’s David Bailey speech outlining flexible regulatory plans to foster innovation and growth The Bank of England (BoE) has released a speech from David Bailey, executive director for prudential policy at the Prudential Regulation Authority (PRA), delivered at Risk...

This document is archived and will no longer be updated. For information on EU EMIR, please see Practice Note: EU MiFID II and MiFIR—essentials and the EU Markets in Financial Instruments Directive (MiFID II) and Markets in Financial Instruments Regulation (MiFIR)—timeline. Introduction to the MiFIR level 1 roadmap The recast Markets in Financial Instruments Directive (Directive 2014/65/EU) (MiFID II), together with the Markets in Financial Instruments Regulation (Regulation (EU) 600/2014) (MiFIR), was published in the Official Journal of the European Union on 12 June 2014 and came into force on 2 July 2014. Taken as a package, MiFID II and MiFIR substantially revised and enlarged the regulatory framework first created by the Markets in Financial Instruments Directive (Directive 2004/39/EC) (MiFID I). As amended, the bulk of the new Directive and Regulation applied from 3 January 2018. EU Member States were given until 3 July 2017 to transpose MiFID II into national legislation, while MiFIR has direct effect across Member States...

This Practice Note summarises the law in relation to desertion in divorce proceedings issued prior to 6 April 2022 The Divorce, Dissolution and Separation Act 2020 (DDSA 2020) took effect on 6 April 2022. Proceedings started by the court on or after 6 April 2022 fall within DDSA 2020 and the revised procedures under the amended Family Procedure Rules 2010 (FPR 2010), SI 2010/2955. For additional detail, see Practice Note: Introduction to the Divorce, Dissolution and Separation Act 2020. Proceedings issued by the court on or before 5 April 2022 will continue in accordance with the law predating DDSA 2020, whether lodged through the digital service or by paper forms. These applications are unaffected by the commencement of DDSA 2020, or by the ensuing procedural amendments. This document sets out the position for proceedings issued before 6 April 2022. Legislative amendments have followed the implementation of DDSA 2020, including changes to FPR 2010, Pt 7. To access a historic version of FPR 2010, Pt 7, and FPR...

Rule 32—Setting the scene This Resource Note summarises the key provisions of Rule 32 of the City Code on Takeovers and Mergers (the Code), which concerns revisions to offers, including the obligation to publish a revised offer document, no increase statements, competitive situations and the offeree board’s opinion on any revised offer. It signposts pertinent materials, commentary and guidance from the Panel, together with Lexis+® UK analysis and resources, to offer practical support on interpreting and applying Rule 32. Code and Lexis+® UK resources Practice Statements issued by the Panel Executive (the body handling the day-to-day supervision and regulation of takeovers) (Executive), giving informal guidance on how the Executive typically interprets and applies the Code Panel Statements published by the Panel (P/S) and Panel Instruments Public Consultation Papers (PCP) and Response Statements (RS) issued by the Code Committee Annual Reports published by the Panel discussing broader issues (Annual Reports) Relevant Lexis+® UK resources What it covers ...