Steering committee meaning

Timeline—developments from 1 January 2024 onwards This timeline charts UK-focused changes to the anti-money laundering (AML), counter-terrorist financing (CTF) and counter-proliferation financing (CPF) legal and regulatory frameworks affecting financial services firms. It captures the evolution and implementation record of the UK AML, CTF and CPF legislative landscape, including updates to the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017, SI 2017/692 (MLRs), together with AML/CTF-related outputs from HM Treasury (HMT), the Financial Conduct Authority (FCA) and the Joint Money Laundering Steering Group (JMLSG). It further reflects supranational AML/CTF/CPF activity from the Financial Action Task Force (FATF), Basel Committee on Banking Supervision (BCBS), International Association of Insurance Supervisors (IAIS), International Organisation of Securities Commissions (IOSCO), the Egmont Group of Financial Intelligence Units (FIUs) and the Wolfsberg Group. A schedule of forthcoming dates is available in: Key dates for Financial Services—horizon scanner. For earlier developments up to 31 December 2023, see: AML/CTF legal and regulatory regimes for financial services firms—timeline to 31 December 2023 [Archived]...

In this issue: Building safety Building regulations Alternative dispute resolution Arbitration Environmental issues Projects Construction industry news Daily and weekly news alerts Construction trackers Building safety CLC announces restructure of ICSG The CLC has set out a reorganisation of the Industry Competence Steering Group (ICSG) to enhance competence and safety standards across the built environment sector. Under this strategic change, the ICSG will become a formal working group within the Building Safety Regulator’s Industry Competence Committee. The refreshed framework features sector-led groups, key topic groups and working groups, informed by contributions from more than 60 professional and trade bodies and 1,500 individuals, reinforcing the drive for improved standards. See: LNB News 09/12/2024 61. Housing (Cladding Remediation) (Scotland) Act 2024 (Commencement) Regulations 2024 SSI 2024/370 These regulations designate 6 January 2025 as the appointed day on which all provisions of the Housing (Cladding Remediation) (Scotland) Act 2024 not already commenced will come into...

In this issue: Competition and state aid Corporate Data protection and cybersecurity Free movement, employment and immigration Financial services Insurance and reinsurance IP Life sciences Regulatory TMT International trade Daily and weekly news alerts New and updated content Trackers and horizon scanners Competition and state aid State aid—Commission reviews State aid rules for banks in difficulty The European Commission has launched a call for evidence to update the State aid regime for banks in difficulty. The current framework consists of six distinct communications, last revised in 2013. See News Analysis: EU Competition law—daily round-up (17/03/2026). State aid—Commission adopts new State aid rules to boost the use of more sustainable ways of transport The Commission has approved new State aid Land and Multimodal Transport Guidelines (LMT Guidelines) and a Transport Block Exemption Regulation (TBER), refreshing the EU State aid framework to encourage more sustainable passenger and freight transport,...

In this issue: Key developments UK immigration control: how it works Work sponsorships: sponsors Challenging immigration decisions and enforcement Citizenship applications Daily and weekly news alerts New and updated content Key developments Future developments—Immigration calendar Note that our Immigration calendar sets out key forthcoming developments relevant to business immigration advisers. UK immigration control: how it works Immigration White Paper heralds significant changes to UK immigration system The government has issued its long‑awaited White Paper on lawful migration, ‘Restoring Control over the Immigration system’, setting out major reforms across the system, with the stated objective of cutting net migration and reasserting control. In the employment context, this includes lifting the skill threshold for Skilled Worker back to the Tier 2 graduate standard and turning all Points‑Based System routes into ten‑year pathways to settlement, with a new points‑led method to shorten that period based on contributions to the economy and society. A suite of measures...

Who are bondholders? Bondholders, sometimes referred to as noteholders, have typically put capital into a company’s most junior—and therefore risky—debt. In a distressed scenario, they will often form a pressure group, coming together to seek recovery from a restructuring by presenting a unified position to the debtor’s advisers and other stakeholders, including senior lenders, as a collective. For further reading, see Practice Note: Bonds and notes. Bondholders will frequently sit within a complex capital structure. The bondholders’ committee The bondholders’ committee is usually organised by the indenture trustee for the bonds or by a lawyer specialising in representing the interests of junior creditors. The committee can also be known as the: steering committee co-ordinating committee A committee is formed as part of a restructuring process rather than as a formal insolvency process. The formation of the committee...

This Checklist This Checklist is aimed at professionals advising financial services businesses (credit and financial institutions, cryptoasset exchanges and custodian wallet providers) on meeting the UK’s anti-money laundering (AML) and counter-terrorist financing (CTF) legal and regulatory regime. It focuses on the record-keeping obligations for customer due diligence (CDD)-often referred to as ‘Know your customer’ (KYC)-together with data protection considerations under the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017, SI 2017/692, regs 40 and 41 (MLRs), and under Financial Conduct Authority (FCA) rules. The Checklist brings together regulatory guidance issued by the FCA and the Joint Money Laundering Steering Group (JMLSG), and reflects guidance prepared for the insurance and banking sectors by the International Association of Insurance Supervisors (IAIS) and the Basel Committee on Banking Supervision (BCBS). It does not cover additional record-keeping under the MLRs relating to firms’ own risk assessments, policies, controls and procedures, including MLRO reports, information not acted upon, training, and compliance monitoring; see Practice Note: The Money Laundering...

ARCHIVED: This Practice Note has been archived and is not maintained. This Practice Note outlines the European Union’s anti-money laundering (AML) and counter-terrorist financing (CTF) legal and regulatory regime as it applies to financial services firms, addressing: legislation pertinent to financial services European Banking Authority (EBA) guidance on AML/CTF the EU’s central AML/CTF database, EuReCA European initiatives and measures on AML/CTF principal actors involved in European AML/CTF supervision and enforcement For insight into the role of supranational bodies and international co-operation on AML/CTF, including the FATF and the Basel Committee on Banking Supervision (BCBS), see Practice Note: Introduction to the supranational AML/CTF framework for financial services. For an outline of the UK AML/CTF legislative and regulatory framework—covering the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017, SI 2017/692 (MLRs), and the functions of the Financial Conduct Authority (FCA) and the Joint Money Laundering Steering Group (JMLSG)—see Practice Notes: Introduction to the UK...