Unit-linked policy meaning

This checklist guides you to take appropriate measures to spot, monitor and handle risks linked to conflicts of interest, and to comply with the SRA’s requirements. It mirrors the SRA Standards and Regulations. Requirement Compulsory or recommended Comments (if any) ☐ Implement a robust system to recognise and assess conflicts of interest, ensuring you do not act where a conflict exists unless an exception applies. See: -Practice Note: Conflicts of interest-systems and controls -Precedent: Conflicts, confidentiality and disclosure policy-law firms Compulsory - SRA Code for Firms, paras 2.1, 2.5, 6.1 and 6.2 (Insert any comments you may wish to make regarding your firm’s arrangements) ☐ Create a register of interests held by partners and staff, which you can consult to identify own‑interest conflicts. See Precedent: Register of interests to identify own interest conflicts. Recommended - This will help you identify conflicts and demonstrate compliance with the SRA Code for Firms, paras 2.1 and 2.5 (Insert any comments you may wish to make regarding your firm’s...

This tracker outlines the consultation papers issued by the Financial Conduct Authority (FCA) in 2013, together with notice of any later rules and guidance published. For FCA consultation papers from different years, see: FCA consultation paper trackers. For Prudential Regulation Authority (PRA) and Financial Services Authority (FSA) consultation papers, see: PRA consultation paper tracker [Archived] FSA consultation paper tracker [Archived] Topic area: Consumer credit; Disclosure and transparency; Supervision; Funds CP13/18: Quarterly Consultation Paper No. 3 The FCA proposed to: make small changes associated with transferring consumer credit regulation from the Office of Fair Trading (OFT) to the FCA (chapter 2) bring in an administrative fee to recover costs arising from listed issuers’ late publication of periodic financial statements under the Disclosure and Transparency Rules (DTRs) (chapter 3) broaden the ability of authorised fund managers and others to communicate with unit-holders electronically, including via website-based communications (chapter 4) revise the process for handling a waiver application...

This timeline outlines notable milestones linked to the Solvency UK regulatory regime. For earlier milestones, please see: Solvency II—timeline (2007–2023) [Archived]. 2026 Date: 11 March 2026 | Source: PRA | Document: PRA fines U K Insurance Limited £10,625,000 The Prudential Regulation Authority imposed a £10,625,000 penalty on U K Insurance Limited after a miscalculation of its Solvency II balance sheet in 2023 and 2024 led to overstated solvency figures reported to both the regulator and to the wider market. UKI Limited is a subsidiary and principal underwriter of Direct Line Group, and is now part of Aviva plc. This marks the PRA’s first public enforcement action in which the Early Account Scheme (EAS) has been applied. See: PRA fines U K Insurance Limited £10.6m for Solvency II micalculation Date: 25 February 2026 | Source: PRA | Document: CP4/26 — UK Solvency II Own Funds: Updates and fixes to rules and expectations The PRA...

In this issue: Companies House Corporate governance Equity capital markets Accounts and reports Economic Crime and Corporate Transparency Act Daily and weekly news alerts New and updated content Dates for your diary Trackers Useful information Companies House Companies House announces fee changes from February 2026 Companies House has confirmed a revised fees schedule from 1 February 2026, following its annual assessment to align charges with the cost of providing services. Notably, the digital incorporation filing fee will rise to £100, and the digital confirmation statement fee will increase to £50. These adjustments are set out in the Registrar of Companies (Fees) (Amendment) Regulations 2025 (SI 2025/1137), which were laid before Parliament on 30 October 2025 and take effect on 1 February 2026. The accompanying explanatory memorandum states that the updated fees are intended to recover increased costs linked to implementing the Economic Crime and Corporate Transparency Act 2023 (ECCTA 2023) and the Economic...

In this issue: UK digital markets UK competition policy UK private actions EU antitrust Daily and weekly news alerts Caselex UK digital markets CMA opens first ‘SMS investigation’ under the DMCCA 2024 into Google’s general search and search advertising The CMA has begun an ‘initial SMS investigation’ under Part 1 of the Digital Markets, Competition and Consumers Act 2024 (DMCCA 2024). This is the authority’s first SMS designation probe under the new DMCCA digital markets framework. The CMA’s power to designate undertakings with SMS, and potentially impose conduct requirements, took effect on 1 January 2025. The Investigation Notice states that Alphabet Inc, Google LLC, Google Ireland Limited and Google UK Limited (Google) provide general worldwide web search and information return (general search), and advertising to users of general search (search advertising). The CMA considers these meet the definition of a digital activity and can be treated as one activity. The Notice excludes specialised search service interfaces, such...

Mergers The CMA confirms it has, as required, sent its report to the Secretary of State on jurisdiction and competition issues linked to RedBird IMI’s anticipated acquisition of Telegraph Media Group—see further, case page. NOTE—For a summary of mergers in which the UK government has intervened on public interest grounds under the Enterprise Act 2022, see Government interventions on public interest grounds—merger cases tracker. Antitrust OFGEM has launched a Chapter II Competition Act 1998 investigation into suspected breaches of competition law, concerning a possible abuse of a dominant position—see further, press release. NOTE—For all live behavioural probes before the CMA and sectoral regulators, see UK behavioural investigations—ongoing cases tracker. Competition policy The CMA seeks inputs for its review of the Rail, Road, Inland Waterway Transport Block Exemption (RRIWTBER), assessing fitness for purpose, UK economic specifics, and impacts on UK businesses and consumers. Responses by 10 April 2024; consultation on proposed recommendations in June...

ARCHIVED: this Practice Note is no longer maintained and is offered for background reference only. Moreover, some links may not take you to the provisions as they stood when the guidance in this Practice Note was issued... Key litigation funding cases 2016—what do you need to know? Key takeaways from 2016 decisions in the commercial or third‑party litigation funding sphere include: the Supreme Court examined the interpretation of an exclusion clause in a solicitor’s professional indemnity insurance policy (Impact Funding v AIG), see below the Supreme Court agreed to hear three appeals balancing ECHR rights against recovery of costs linked to third‑party funding (Frost v MGN, Miller v Associated Newspapers Limited and Times Newspaper v Flood), which will determine these questions in the context of post‑Jackson reform funding. At present, the courts regard the recovery of additional liabilities as compatible with the ECHR (BNM v Mirror Group Newspapers), see below the Court of Appeal has held that third‑party funders can be...

Protection of critical infrastructure and cybersecurity—EU strategy In October 2016, the European Parliament’s Committee on Industry, Research and Energy (ITRE) issued a Cybersecurity Strategy for the Energy Sector. The paper reviewed prevailing policies and legislation, and considered routes for developing energy‑specific cyber security solutions and protective practices. It found that the continued rollout of smart energy systems, coupled with growing interconnection and interdependence across Member State borders, has produced rapid expansion of networked intelligence throughout energy grids and into consumers’ premises via smart devices. This enlarged attack surface, together with the fact that the energy system is inherently linked to every other critical infrastructure network, renders the sector especially susceptible to cyber attacks. That exposure has only grown since the 2016 strategy was released. On 16 December 2020, the European Commission and the High Representative of the Union for Foreign Affairs and Security Policy presented a new EU Cybersecurity Strategy. The 2020 plan encompasses the security of essential EU services (for example energy grids, railways and hospitals) and also...

ARCHIVED: This Practice Note is archived and is no longer maintained. It previously monitored the progress of UK legislative proposals and consultations relevant to the life sciences sector from 2019–2022, separate from matters specifically linked to the coronavirus (COVID-19) pandemic and Brexit in that timeframe, which have their own archived trackers. To follow current UK legislative proposals, consultations and developments, as well as notable cases, relevant to the life sciences sector, see Practice Notes: Life sciences tracker—UK and Life sciences cases tracker—UK. To follow current EU legislative proposals, consultations and developments, as well as significant cases, relevant to the life sciences sector, see Practice Notes: Life sciences tracker—EU and Life sciences cases tracker—EU. For older archived materials on developments in life sciences, or those relating to the coronavirus (COVID-19) pandemic or Brexit, see: Coronavirus (COVID-19)—UK life sciences tracker [Archived] Coronavirus (COVID-19)—EU life sciences tracker [Archived] Life sciences—Brexit tracker 2020–2022 [Archived] Life sciences—Brexit tracker 2017–2020 [Archived] Patents tracker 2019–2021 [Archived] Life sciences...

1 Introduction Risk management sits at the heart of how we work, and [ insert organisation’s name ] is dedicated to embedding effective risk control across the business—every colleague has a part to play in making this happen. This policy explains: what risk is; our approach to managing risk; who holds responsibility for risk; our methods for spotting, reporting and assessing risk; our risk management policies and procedures; details of risk training; how we will monitor and refresh this. It also includes our: Risk scorecard (matrix)—see Appendix 1; and Internal risk report form—see Appendix 2. 2 What is risk? Risk is the chance of loss or another harmful or unwelcome result. It may involve financial loss, but it can also be less measurable, for example harm to reputation. We group identified...

Date: [ insert date ] Introduction In the UK, the framework addressing money laundering, terrorist financing and proliferation financing is partly set out in the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 (MLR 2017), SI 2017/692, as amended. These require updates to our existing anti-money laundering (AML), counter-terrorist financing (CTF) and counter-proliferation financing policy, controls and procedures. Money laundering refers to concealing the genuine source and ownership of criminal proceeds so those funds appear legitimate. Terrorist financing means raising or supplying funds, whether from lawful or unlawful sources, to be used to commit a terrorist act. Proliferation financing involves providing funds or financial services for, in whole or in part, the manufacture, acquisition, development, export, transhipment, brokering, transport, transfer, or stockpiling of, or otherwise linked to the possession or use of, chemical, biological, radiological or nuclear (CBRN) weapons; this also covers financing connected to the delivery systems for such weapons and other CBRN-related goods and technology,...

1 Introduction Risk management sits at the heart of the regulatory framework within which we operate. [ Insert name of firm ] is devoted to embedding effective risk management across the firm, and every member of staff has a part to play in ensuring we achieve this. This policy outlines: what risk is; our method for managing risk; who holds responsibility for risk management; how we identify, report and evaluate risk; our policies and procedures for risk management; details of risk management training; how we will monitor and update this risk management policy. 2 What is risk? Risk is the chance of an adverse or unwelcome outcome. This may involve a financial loss, but it can also be less tangible, such as harm to our reputation. We classify the risks we identify into three groups: strategic risk—risks that could influence our viability or profitability; operational risk—risks linked to our day-to-day...