Jurisdiction(s):
United Kingdom

Key definition

Reporting definition

What does Reporting mean? In pensions practice, reporting means the regular communications trustees or providers give to members on investment performance and the value of their pension benefits. The term is descriptive; the underlying disclosure duties are set by legislation and regulation. Across England & Wales, Scotland and Northern Ireland, the Occupational and Personal Pension Schemes (Disclosure of Information) Regulations 2013 and, for contract‑based/personal pensions, FCA rules require at least an annual benefit statement. For money purchase (DC) benefits, this must include an annual Statutory Money Purchase Illustration (SMPI) projecting benefits to retirement in today’s terms, calculated in line with FRC Actuarial Standard TM1....

Legal due diligence reporting in UK private equity buyouts: process, scope, executive summaries, third-party reliance and drafting (including exceptions-only reports and precedent)

Published by a LexisNexis Corporate expert

Practice notes

This Practice Note forms part of the Lexis+® UK Corporate private equity buyout transaction toolkit.

The reporting process

Every adviser appointed to carry out due diligence ought to flag principal findings as they emerge, particularly any significant risks or concerns, and then prepare a due diligence report to highlight material issues arising from their review work and analysis.

The advisers’ engagement letters must clearly define the agreed timetable, format and scope of the due diligence report.

Draft or interim reports can be produced and shared at intervals during the process, enabling material issues to be promptly addressed as they arise.

Frequently, by the point the final report goes to the private equity investor, they will be aware of all material matters that could affect the transaction in question.

The aim of a legal due diligence report is to:

provide the investor with adequate information about the target and to summarise that material in a succinct and comprehensive

...

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Web page updated on 22/05/2026

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