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This Practice Note outlines the law concerning criminal recklessness. The subjective test for recklessness Certain statutory and common law offences allow the prosecution to prove mens rea through ‘recklessness’. Put simply, recklessness is where the accused takes an unjustified risk that results in unlawful harm or damage. The House of Lords in R v G reaffirmed the subjective approach to recklessness. Before R v G, two distinct tests were used, depending on the offence charged: Subjective recklessness from R v Cunningham: the prosecution had to establish that the accused personally foresaw the risk. Objective recklessness from R v Caldwell: the prosecution only needed to show that the risk would have been obvious to a reasonable person, without proving the accused themselves foresaw it. In R v G, the House of Lords concluded that the objective test could operate unfairly where a defendant did not foresee the
This Practice Note examines the remedy of rescission, explaining when and in what manner a contract can be unwound (at common law, in equity and under statute) and thereby terminated and brought to an end. It covers the consequences and effects of rescission, the principal grounds for setting aside an agreement (misrepresentation, mistake, undue influence, duress, non‑disclosure, fiduciary misdealing and bribery) and the main obstacles to claiming rescission—affirmation, the intervention of third‑party rights and the impossibility of restitution. For further guidance on rescission in the context of misrepresentation, see Practice Note: Misrepresentation—rescission as a remedy. There are many ways in which a contract may reach its end; see: Terminating contracts—how and when a contract ends—overview for a brief and accessible summary, with links to the related further practical guidance, including Practice Note: Termination and expiry of contracts. For a table
What is a res judicata? A res judicata is a determination by a court or tribunal with jurisdiction over the cause of action and the parties, which finally disposes of the issues decided so they cannot be litigated again by those bound, save on appeal. Final judgments entered by default or by consent fall within this concept, whereas rulings on purely procedural points and any decision lacking finality do not. The doctrine’s aim is to bring litigation to an end and shield parties from being harassed by the same dispute twice. in personam—binds the parties and their privies in rem—binds all persons, privy or otherwise (ie a judgment binding the whole world) A party may rely on res judicata: as an estoppel to defeat an opponent’s claim or defence; and/or as the basis of their own claim or
The offence of causing grievous bodily harm with intent Wounding or causing grievous bodily harm (GBH) with intent can be tried solely in the Crown Court on indictment. Elements of the offence Under the Offences against the Person Act 1861 (OATPA 1861), the prosecution must establish that the defendant unlawfully and maliciously: wounded with the intention of causing GBH, or caused GBH with that intention, or wounded intending to resist or prevent the lawful arrest or detention of any person, or caused GBH intending to resist or prevent the lawful arrest or detention of any person ‘Unlawfully’ and ‘maliciously’ Unlawfully The wounding or causing of GBH must be unlawful. Such conduct may be lawful if used: in self-defence in defence of another in defence of property for the prevention of crime where the victim gave express or implied consent For further information on these defences, see below:
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This Practice Note explains how derivatives are recorded under the principal master agreements relied upon in the EU and the UK. These encompass frameworks sponsored and developed by the International Swaps and Derivatives Association, Inc. ( ISDA), the European Banking Federation ( EBF), the French Banking Federation ( FBF), the Association of German Banks, the Spanish Banking Association and the Spanish Confederation of Savings Banks... How do master agreements work? A master agreement is a set of standard provisions pre-agreed by the parties that applies to all transactions of the same type between them. For each individual trade, the parties only need to settle the specifics—principally the product included under the master, the commercial terms, and, where relevant, any bespoke provisions that vary the master wording... What are the main European derivative master agreements? The principal derivative master agreements used in Europe are sponsored by: ...
ARCHIVED: This archived Practice Note provides information on the Privacy Shield framework for transfers of personal data to the US and reflects the position before the introduction of the EU- US Data Privacy Framework ( DPF) and the UK Extension to the EU- US Data Privacy Framework (also known as the UK- US Data Bridge). It is not maintained and is for background information only. Article 44 of the EU General Data Protection Regulation, Regulation ( EU) 2016/679 ( EU GDPR), bars sending personal data to a non- EEA state or to an ‘international organisation’ (an international transfer). That said, such transfers can occur in limited cases where the transfer is: grounded in an adequacy decision protected by suitable safeguards carried out under specific...
STOP PRESS: On 17 June 2025, the European Commission released its long-anticipated review of the EU Securitisation Framework, alongside a wide-ranging legislative proposal to revise the EU Securitisation Regulation ( Regulation ( EU) 2017/2402), the EU Capital Requirements Regulation ( Regulation ( EU) No 575/2013), the EU Solvency II Delegated Regulation ( Commission Delegated Regulation ( EU) 2015/35) and the EU Liquidity Coverage Requirement Delegated Regulation ( Commission Delegated Regulation ( EU) 2015/61). As the legislative process moves forward through the EU’s procedure, further consultations and amendments are anticipated. The principal rules governing the EU and EEA debt capital markets are outlined below. Mi FID II/ Mi FIR The core legislative texts for the EU debt capital markets are the Markets in Financial Instruments Directive 2014/65/ EU ( Mi FID II) and the Markets in Financial Instruments Regulation ( EU) 600/2014 ( EU Mi FIR). Mi FID II sets the...
This Practice Note This Practice Note examines AMLA’s direct oversight of financial services undertakings carrying the highest risk profiles in several EU Member States, identified as ‘ Selected Obliged Entities’, in relation to compliance with the EU’s anti-money laundering ( AML) and countering the financing of terrorism ( CTF) framework, which also includes the EU’s financial sanctions framework, within the relevant regulatory context at EU level overall for such entities specifically......
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, Eu Re CA 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 (...
ARCHIVED : This Practice Note has been archived and, from 1 June 2024, is no longer maintained. For detailed practical guidance on each component of the EU’s AML/ CTF legal framework and regulatory requirements, see the Financial crime and sanctions ( EU Law)—overview. The European Commission’s 2020 Action Plan for a Comprehensive EU policy on Anti- Money Laundering ( AML) and Counter- Terrorist Financing ( CTF) ( Action Plan), along with its 2021 legislative package, aims to overhaul the European Union’s AML/ CTF legal framework and regulatory requirements. In particular, it will replace the Fourth Money Laundering Directive ( EU) 2015/849 ( MLD4), as amended by the Fifth Money Laundering Directive ( EU) 2018/843 ( MLD5). The package will: create a single EU-level supervisory Anti- Money Laundering Authority ( AMLA) which, among other things, will directly supervise selected...
This one-minute guide outlines the principal provisions of the Fourth Anti- Money Laundering Directive ( EU) 2015/849 ( MLD4), as updated by the Fifth Money Laundering Directive ( EU) 2018/843 ( MLD5). Across Europe and the UK, anti-money laundering ( AML) and counter-terrorist financing ( CTF) frameworks under the amended MLD4 are in flux. You can follow these shifts in AML/ CTF/ CPF—timeline of EU legal and regulatory developments for financial services. For relevant practical direction, see: Financial crime and sanctions ( EU Law)—overview. For UK updates, consult AML/ CTF/ CPF—timeline of UK legal and regulatory developments for financial services and Anti-money laundering and counter-terrorist financing ( AML/ CTF)—overview. Background to MLD4 The Fourth Money Laundering Directive ( EU) 2015/849 ( MLD4) was approved by European Parliament on 20 May 2015, took effect on 25 June 2015, and set the foundation for the European Union’s AML/ CTF...
Background to the original Ambient Air Quality Directives Until 2024, EU controls on ambient air quality were mainly defined in two laws, Directive 2008/50/ EC and Directive 2004/107/ EC (together known as the Ambient Air Quality Directives, or AAQDs). These introduced comparable rules for air quality assessment, air quality management, and the dissemination of air quality information to the public for different pollutant groups. Directive 2008/50/ EC covers: particulate matter ( PM10 and PM2.5) nitrogen dioxide ( NO2) and oxides of nitrogen ( NOx) sulphur dioxide ( SO2) benzene carbon monoxide lead ozone Directive 2004/107/ EC covers: arsenic cadmium nickel mercury benzo(a)pyrene, and other polycyclic aromatic hydrocarbons ( PAH) A fitness check on the AAQDs’ effectiveness was released in November 2019. European Green Deal—recast of the Ambient Air Quality Directives On 26 October 2022, the Commission put forward a proposal to recast the Ambient Air Quality Directives. It sought to resolve the issues identified in the 2018 fitness check by...
This Practice Note offers a synopsis of the organisational, valuation and delegation requirements under the Alternative Investment Fund Managers Directive ( Directive 2011/61/ EU) ( AIFMD), as supplemented by Commission Delegated Regulation ( EU) 231/2013 ( EU AIFMD Level 2 Regulation). It sets out how alternative investment fund managers ( AIFMs) should structure their operations and distils the principal provisions concerning asset valuation and delegation. What is the AIFMD? The AIFMD ( Directive 2011/61/ EU) came into force in EU Member States on 22 July 2013 and governs the management, administration and marketing of alternative investment funds ( AIFs) across the EU. AIFMD, as implemented, applies to all EU AIFMs that manage one or more AIFs, whether those AIFs are EU AIFs or non- EU AIFs. The AIFMD, as implemented in EU Member States, also extends to: non- EU AIFMs who manage EU AIFs; and in part, non- EU AIFMs who...
This Practice Note reviews the remuneration frameworks and practices set out in Article 13 and Annex II of the Alternative Investment Fund Managers Directive ( Directive 2011/61/ EU) ( AIFMD), and elaborated in the European Securities and Markets Authority ( ESMA) Guidelines on sound remuneration policies under the AIFMD. Alternative investment fund managers ( AIFMs) of alternative investment funds ( AIFs) — including hedge funds, private equity funds and other AIFs (such as commodity funds, venture capital funds, real estate funds and investment funds) — may all fall within the scope of the AIFMD remuneration rules. What is the AIFMD? The AIFMD ( Directive 2011/61/ EU) took effect across EU Member States on 22 July 2013 and governs the management, administration and marketing of AIFs throughout the EU. As implemented, it applies to every EU AIFM that manages one or more AIFs, whether those AIFs are...
This Practice Note reviews the role of depositaries under the Alternative Investment Fund Managers Directive ( Directive 2011/61/ EU) ( AIFMD) and their duties for asset safekeeping, cash flow monitoring and oversight of alternative investment funds ( AIFs). It outlines the AIFMD’s depositary obligations, who may act as depositary, their responsibilities, issues around delegation and liability, the depositary agreement, and the reforms to depositary services introduced by Directive ( EU) 2024/927 ( AIFMD II), which must be applied by Member States from 16 April 2026. What is the AIFMD? The AIFMD ( Directive 2011/61/ EU) took effect in EU Member States on 22 July 2013 and governs the management, administration and marketing of AIFs throughout the EU. As implemented, it applies to all EU alternative investment fund managers ( AIFMs) managing one or more AIFs, whether those AIFs are established in the EU or outside the EU. The...
This FLASHCARD helps you take in and recall the key aspects of the Alternative Investment Fund Managers Directive 2011/61/ EU ( AIFMD). What is the AIFMD? The AIFMD ( Directive 2011/61/ EU) took effect across EU Member States on 22 July 2013 and regulates the management, administration and marketing of alternative investment funds ( AIFs)—including hedge funds, private equity funds and real estate investment funds—throughout the EU. Commission Delegated Regulation ( EU) 231/2013 (the AIFMD Level 2 Delegated Regulation) complements the AIFMD with detailed provisions on areas such as exemptions, general operating conditions, depositaries, leverage, transparency, and the oversight of alternative investment fund managers ( AIFMs). Directive ( EU) 2024/927 ( AIFMD II), which amends the AIFMD, was published in the Official Journal of the EU on 26 March 2024 and entered into force on 15 April 2024. Member States must apply its measures from 16 April 2026, save for...
This tracker outlines principal dates and details on legal matters connected to the development of artificial intelligence ( AI) technology in the EU, covering the period from 2014 to 2021. For the latest EU AI developments, see Practice Note: EU Artificial intelligence—tracker [ Archived]. For further material on: initiatives concerning data in AI, see Practice Note: EU data initiatives—tracker questions relating to AI and data protection law, see Practice Note: Artificial intelligence—data protection in the EU the EU AI Act, see Practice Notes: The EU AI Act and The EU AI Act—snapshot UK measures on AI, see Practice Note: UK artificial intelligence—tracker global competition authorities’ approaches to algorithmic and AI-related competition law risks, see Practice Note: Competition law and artificial intelligence—global developments tracker 2021 29 December 2021 — Opinion: The European Central Bank set out its opinion on the EU AI...
This Practice Note maps significant past developments in EU artificial intelligence ( AI) law. It sets out details of notable events and pertinent commentary on enacted legislation and other major developments, including issued guidance and EU-level strategies and action plans. This tracker addresses legislative developments from 2024 onwards. It is arranged into the following parts: Legislation published in the Official Journal Key non-legislative developments This tracker excludes nascent or anticipated future activity, such as legislation in progress or open consultations. For information on forthcoming developments in EU AI law, see Practice Note: EU artificial intelligence—horizon scanner. For a list of all AI resources, see Practice Note: Artificial intelligence ( AI) resource kit. Legislation published in the Official Journal The table below sets out new EU AI-related legislation and substantial updates to existing AI laws. Entries are ordered in reverse...
General Purpose AI ( GPAI) models fall under dedicated provisions in the EU AI Act to ensure such systems are safe and reliable. This Practice Note outlines: what qualifies as a GPAI model; when a GPAI model is treated as posing systemic risk; the responsibilities placed on GPAI providers; the open-source GPAI exemption; and how the GPAI rules are policed. It addresses the EU AI Act itself, as well as the Commission’s complementary guidelines, code of practice and templates. For broader material on the EU AI Act, see Practice Notes: The EU AI Act—snapshot, The EU AI Act and Checklist: Requirements under the EU AI Act—checklist. For a list of all AI resources, see Practice Note: Artificial intelligence ( AI) resource kit. Legislation and guidance GPAI models are governed by Chapter V of the EU AI Act. Recital 97 explains that GPAI needs a tailored definition to achieve legal...
The EU Artificial Intelligence Act, Regulation ( EU) 2024/1689, establishes a harmonised, EU‑wide legal regime for the regulation of AI technology across the EU. Under Article 5 of the EU AI Act, AI uses considered to present unacceptable risks to EU values and fundamental rights are prohibited. This Practice Note analyses each prohibited practice under Article 5, sets out associated enforcement and liability ramifications, and offers guidance on relevant contractual points. For more information on the EU AI Act in general, see: Practice Notes: The EU AI Act—snapshot The EU AI Act and Checklist: Requirements under the EU AI Act—checklist. For a list of all AI resources, see: Practice Note: Artificial intelligence ( AI) resource kit. Background Regulation ( EU) 2024/1689—the EU Artificial Intelligence Act ( EU AI Act)—creates a consistent, EU-wide legal framework for the regulation of AI technology. It follows a...
STOP PRESS : This Practice Note sets out the position under current law; be aware that aspects will be affected by the Digital Omnibus proposals issued on 19 November 2025 as part of the Commission’s ‘simplification’ drive. For details, consult Practice Note: EU Digital Omnibus—tracker. Erica and Monica are the owners of Knowledge Bridge AI, an AI literacy training and consultancy business. This Practice Note outlines the AI literacy obligations within Regulation ( EU) 2024/1689, the EU Artificial Intelligence Act ( EU AI Act). It addresses: What is AI literacy? Background—how the AI literacy provisions developed under the EU AI Act AI literacy under the EU AI Act Regulatory guidance on AI literacy The principal legal considerations Consequences of failing to achieve AI literacy Practical methods to attain AI literacy For further reading on AI, see the...
Key information EU Accounting Directive Official title Directive 2013/34/ EU of the European Parliament and the Council, dated 26 June 2013, concerning the preparation of annual financial statements, consolidated financial statements and associated reports for specified types of undertakings; it amends Directive 2006/43/ EC and repeals Directives 78/660/ EEC and 83/349/ EEC (commonly known as the EU Accounting Directive) Entry into force 19 July 2013 Transposition deadline 20 July 2015 National transposition measures See the Eur- Lex information on national transposition measures, as formally provided by the Member States Amendments include Directive 2014/95/ EU ( EU Non- Financial Reporting Directive, NFRD) ( Effective from 5 December 2014, with a transposition deadline of 6 December 2016. Applicable to financial years beginning on or after 1 January 2017) Council Directive 2014/102/ EU on annual and consolidated financial statements and associated reports for certain...
The legislative and policy agenda of the 2024–2029 Commission During President von der Leyen’s second term, the 2024–2029 Commission has set a twin, closely connected focus: sharpening EU competitiveness and growth, and pursuing regulatory simplification. On 12 February 2025, it signed off its 2025 Work Programme, mapping the year’s flagship actions, including a raft of steps to streamline existing regulatory frameworks. That programme builds on the longer-range structure provided by the Competitiveness Compass, released in January 2025. In parallel with the Work Programme, the Commission issued a Communication on Simplification and Implementation, explaining how it intends to make day‑to‑day application of EU rules more straightforward, and supplying added detail on plans to prune and clarify a range of EU legislative instruments. As set out in that Communication, a central objective for the next five years is to cut...
ARCHIVED: This Practice note has been archived and is not maintained. Environmental, social and governance ( ESG) matters have climbed to the forefront of corporate priorities in recent years, with society, the press, customers, employees and investors increasingly judging companies and boards against measurable and comparable ESG factors. In line with this intensified attention, businesses are encountering a widening set of legislative and regulatory obligations concerning how they report ESG matters. As ESG reporting has matured, a wide range of voluntary frameworks and standards has appeared to guide and influence how organisations measure, evaluate and disclose ESG information to investors and other stakeholders. This Practice Note reviews the principal ESG reporting frameworks alongside initiatives aiming to build a single global framework for companies to report on ESG matters. It opens by examining the disclosure recommendations of the Task Force on...
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When evaluating a general damages claim, the practitioner ought initially to refer to the Judicial College Guidelines (JCG)...
This Practice Note This Practice Note reviews mechanisms used in settling litigation. A Tomlin order consists of a consent order paired with a schedule. It operates to stay proceedings on terms that have been agreed. The provisions contained in the schedule may remain confidential. This Practice Note describes the scope of confidentiality attaching to the schedule and sets out how it differs from a standard consent order. Sample wording for a Tomlin order is included, alongside links to precedents, as well as guidance on court approval. It also addresses varying, setting aside and enforcing a Tomlin order, including the considerations the court will take into account when handling applications for each. Further guidance is provided on interpreting and applying the relevant provisions of the CPR; however, some courts and divisions impose very specific requirements for both drafting and approval, and for approaching the schedule and confidentiality issues. Accordingly, you must consider the particular rules and court guide provisions in the forum where your claim is proceeding when drawing up the Tomlin order...
Date [ date ] Parties [ name of Landlord ] [ of OR incorporated in England and Wales (company registration number [ number ]) with its registered office at ] [ address ] (Landlord) [ name of Tenant ] [ of OR incorporated in England and Wales (company registration number [ number ]) with its registered office at ] [ address ] (Tenant) [ [ name of Guarantor ] [ of OR incorporated in England and Wales (company registration number [ number ]) with its registered office at ] [ address ] (Guarantor) ] [ [ name of Mortgagee ] [ of OR incorporated in England and Wales (company registration number [ number ]) with its registered office at ] [ address ] (Mortgagee) ] Definitions Within this Deed, the terms below shall be interpreted as follows: [ Annual Rent • the annual sum reserved under the Lease; ] [ Insurance Rent • the Tenant’s share of the Landlord’s costs of insuring the Property (as set out in the Lease); ] Lease • the lease of the Property dated [ date ], entered into between (1) [ the Landlord OR [ name ...
I, [ name ], of [ address ], solemnly and sincerely state that: [ Matters to be verified, set out in numbered paragraphs ] I make this solemn statement in good conscience, believing it to be true, and pursuant to the provisions of the Statutory Declarations Act 1835. DECLARED at [ details ] this [ day ] day of [ month and year ] Before me ................................................................................ [ signature of the person before whom the declaration is made ] A [ commissioner for oaths OR [ solicitor OR [ insert other qualification ] ] authorised to administer oaths ]...
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