Jurisdiction(s):
United Kingdom

Key definition

Engagement definition

What does Engagement mean? Engagement describes the ongoing dialogue and other stewardship activities by asset managers and institutional investors with their investee companies to monitor performance and governance, raise concerns and seek change. It includes routine meetings with boards and management, written correspondence, participation in consultations, proxy voting, and escalation (for example, collaborative engagement, public statements, filing or co‑filing resolutions, or requisitioning meetings) where issues persist. The term is descriptive rather than a defined legal term, but it is embedded in regulation and codes. In the UK, FCA COBS 2.2B (implementing and retaining aspects of SRD II) and the UK Stewardship Code 2020 expect firms...

Preliminary market engagement in public procurement: law, policy and practice on methods, bidder involvement, conflicts of interest and exclusions (PCR 2015) and transition to the Procurement Act 2023

Published by a LexisNexis Local Government expert

Practice notes

STOP PRESS:

From 24 February 2025, the principal provisions of the Procurement Act 2023 (PA 2023) are in effect. Competitions commenced on or after this date must proceed under PA 2023. Procurements initiated under the earlier framework—the Public Contracts Regulations 2015 (PCR 2015), the Utilities Contracts Regulations 2016, the Concession Contracts Regulations 2016, and the Defence and Security Public Contracts Regulations 2011—must continue to be conducted and overseen under those rules. See Practice Note: Introduction to the Procurement Act 2023—PA 2023.

PCR 2015 as assimilated law

PCR 2015 are EU-derived domestic legislation and therefore form assimilated law under sections 2 and 6 of the European Union (Withdrawal) Act 2018. For practical guidance on the status and interpretation of assimilated law, see Practice Note: Assimilated law.

What is preliminary market consultation?

Preliminary market consultation (PMC) means undertaking research and market Engagement to shape an upcoming public procurement and to inform potential bidders about the contracting Authority’s Plans and requirements. PMC may involve obtaining and considering advice from prospective suppliers and/or independent experts before the regulated procedure begins; that is, prior to publishing a call for competition on the UK e-notification service...

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Deborah Ramshaw

Womble Bond Dickinson

Deborah is a nationally renowned procurement law specialist, noted for her commercial and pragmatic advice to clients. She is also WBD's Head of Procurement. Deborah advises clients in the public and private sector and uses her knowledge of acting for both sectors to provide practical advice on running processes which are as defensible as possible and advising bidders on how to challenge processes.Deborah has a particular interest in advising on procuring innovation and complex projects. Deborah has significant experience in establishing and using framework agreements. Deborah advises clients in a wide range of sectors including central and local government, NHS bodies, education, transport and utilities sectors and third sector organisations....

Web page updated on 21/05/2026

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