Term Directive meaning

In this issue: Economic Crime and Corporate Transparency Act 2023 Equity capital markets Private M&A (share purchase) Corporate governance—EU Members Company restoration Daily and weekly news alerts Dates for your diary Trackers Useful information New Q&As Economic Crime and Corporate Transparency Act 2023 Companies and Limited Liability Partnerships (Protection and Disclosure of Information and Consequential Amendments) Regulations 2024 SI 2024/1377: These Regulations update LLP company law to reflect recent changes under the Economic Crime and Corporate Transparency Act 2023 and expand the scenarios in which a person’s residential address can be withheld from the company register, covering former registered office addresses, while maintaining corporate openness and aligning LLP provisions. They commence on 27 January 2025. See: LNB News 07/11/2024 27. Equity capital markets The Financial Conduct Authority has released Policy Statement PS24/19: Enhancing the National Storage Mechanism, setting out the feedback to Consultation Paper CP24/17, its longer-term vision for the NSM, and...

In this issue: Prudential requirements Financial crime and sanctions Complaints, compensation and claims management Investigations, enforcement and discipline Regulation of capital markets Sustainable finance and ESG Banks and mutuals Investment funds and asset management UK MiFID II Consumer credit, mortgage and home finance Regulation of insurance FSMA regulated pensions activity Payment services and systems Financial Services Enforcement Database Daily and weekly news alerts Intraday news alerts New and updated content Dates for your diary Prudential requirements COREPER asked to endorse agreement on CCP concentration risk treatment After the European Parliament adopted, in April 2024, a proposal for a directive of the Parliament and the Council to amend Directive 2009/65/EC (UCITS), Directive 2013/36/EU (CRD IV) and the Investment Firms Directive (EU) 2019/2034 (IFD), the Council of the EU’s General Secretariat released an ‘I/A’ Item Note inviting the Council’s Permanent Representatives Committee (COREPER) to confirm its agreement...

In this issue: EU fundamentals Competition and state aid Corporate Data protection and cybersecurity Free movement, immigration and employment Financial services Environment Insurance and reinsurance IP Life sciences International trade Daily and weekly news alerts New and updated content Trackers EU fundamentals European Commission releases January 2026 infringement package The European Commission has unveiled the January 2026 infringement package, identifying the Member States it is proceeding against for shortcomings in meeting obligations under EU law. This round features letters of formal notice to several Member States for not notifying complete transposition measures for multiple directives, including on financial services contracts concluded at a distance—Directive (EU) 2023/2673, on credit agreements for consumers—Directive (EU) 2023/2225, and on crypto‑asset tax transparency—Directive (EU) 2023/2226. It also covers failures to communicate national implementing measures for Directive (EU) 2023/2123, which aligns exchanges of information on terrorist offences with data protection rules, among other concerns. The...

Statutory paid holiday In Great Britain, workers have a legal entitlement to 5.6 weeks’ paid annual leave under the Working Time Regulations 1998 (WTR 1998), SI 1998/1833. It should be recognised from the start that this is made up of two components: a core entitlement of four weeks’ paid annual leave (often called ‘Euro leave’) (WTR 1998, SI 1998/1833, reg 13), and an extra 1.6 weeks’ paid annual leave (WTR 1998, SI 1998/1833, reg 13A) Different rules apply to irregular hours and part-year workers for holiday years beginning on or after 1 April 2024. For further details, see Practice Note: Statutory paid holiday—irregular hours workers and part-year workers. For the position in Northern Ireland, which has its own Working Time Regulations (Northern Ireland) 2016, SI 2016/49, see Practice Note: Employment law in Northern Ireland—Working Time Regulations and holidays. The basic four-week entitlement reflects the UK’s implementation of the EU minimum in Article 7 of Directive 2003/88/EC (the Working Time Directive),...

Service provision changes (SPCs) This Practice Note explores service provision changes (SPCs) under the Transfer of Undertakings (Protection of Employment) Regulations 2006 (TUPE 2006), SI 2006/246, reg 3(1)(b), arising when activities are outsourced, brought back in-house, or a contractor or service provider is replaced. It explains the approach for cases where the relevant transfer under TUPE 2006 occurs on or after 31 January 2014, and addresses scenarios typically encountered in outsourcing, insourcing, or a change of provider. The Note also clarifies how SPCs operate in those contexts. For the pre-31 January 2014 position, refer to the government’s TUPE 2006 guidance (June 2009)—applicable only to transfers on or before 30 January 2014 and not updated in light of more recent case law—and to Practice Note: TUPE—the pre-January 2014 position [Archived]—Service provision changes. A switch in service provider can constitute a ‘service provision change’ within TUPE 2006, irrespective of whether it is also a ‘business transfer’. For further detail on business transfers, see Practice Note: TUPE—business transfers. Distinct from...

Scope of this Practice Note This Practice Note sets out the main types of radioactive waste and examines disposal against the EU-defined waste hierarchy. It places contemporary management of radioactive waste within the historical development of the nuclear industry from a planning standpoint. Principal policy documents are reviewed to chart the evolution of government thinking over time. Geological disposal of Higher Activity Waste (HAW) under the Planning Act 2008 (PA 2008) is compared with alternative disposal routes under the Town and Country Planning Act 1990 (TCPA 1990) and the Planning (Wales) Act 2015. Consultation duties, application processes and required consents are identified for both regimes. Notable planning appeals and judicial review cases are highlighted before looking at international approaches to radioactive waste. What is radioactive waste? In the UK, radioactive waste arises—and will arise—from past, current and future programmes for electricity generation from nuclear fission, the reprocessing of nuclear fuel, the development of nuclear weapons, the nuclear submarine fleet and wastes from radioactive materials used for civil...

Under WTR 1998, workers get 5.6 weeks’ annual leave each year: a basic entitlement of four weeks’ leave (20 days for a standard full‑time worker) implementing article 7 of the Working Time Directive (WTD) an additional 1.6 weeks’ leave (eight days for a standard full‑time worker) created by domestic law only Understanding this distinction is important because: European Court of Justice case law concerns the WTD alone, so it applies only to the basic four weeks’ paid leave holiday pay is calculated differently for: the basic four weeks, and the additional 1.6 weeks The general rules as to the right to carry forward accrued holiday entitlement are that: the basic four weeks must be taken in the leave year earned and cannot be carried over (though an employer may choose to allow it) a relevant agreement may allow the additional 1.6...

The Fixed-term Employees (Prevention of Less Favourable Treatment) Regulations 2002 (FTE Regulations 2002), SI 2002/2034 The FTE Regulations 2002 state that, unless an employer can objectively justify continuing to use fixed-term contracts, a fixed-term worker who has been employed on an uninterrupted basis—under one fixed-term contract or a succession of fixed-term contracts—for four years or more and is subsequently re-engaged on another fixed-term contract without any break in continuity will have that further contract treated as permanent. For information on fixed-term employees generally, see Practice Note: Fixed-term employees. In specified circumstances, the FTE Regulations 2002 include a mechanism, derived from the Fixed-term Work Framework Directive, for turning fixed-term contracts into permanent contracts (FTE Regs 2002, SI 2002/2034, reg 8)...

The Energy Performance of Buildings (England and Wales) Regulations 2012 (EPC Regulations), SI 2012/3118 The Energy Performance of Buildings (England and Wales) Regulations 2012 (EPC Regulations), SI 2012/3118 have applied since 9 January 2013. They place specific duties on owners of buildings they plan to sell or let to third parties. They implement Directive 2010/31/EU of the European Parliament and of the Council dated 19 May 2010 on the energy performance of buildings. It is useful first to consider what is meant by a building under the EPC Regulations, SI 2012/3118. Under reg 2(1), a building is a roofed structure with walls where energy is used to regulate the indoor climate, and this will generally also cover a building unit within that building. The same regulation provides that a building unit is a section, storey or apartment within a building designed or adapted for separate use. It follows that the term extends to any building fitted with some form of heating or air-cooling plant that consumes energy. In addition,...