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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 glossary provides brief explanations and definitions of key investment funds terminology, also covering pertinent tax and property terms... A Alternative investment fund ( AIF) Any collective investment undertaking, including an AIF’s investment compartments, that gathers capital from multiple investors to deploy it under a specified investment policy for those investors’ benefit, and which is not a UK undertaking for collective investment in transferable securities ( UCITS) ( AIFM UK Regulations, SI 2013/1773, reg 3(1)). An AIF may hold traditional or alternative assets and can be private or listed, authorised or unauthorised... Alternative investment fund manager ( AIFM) A legal person whose habitual business is the management of one or more AIFs ( AIFM UK Regulations, SI 2013/1773, reg 4(1)). ‘ Managing AIFs’ means carrying out at least portfolio management or risk management for one or more AIFs ( AIFM UK Regulations, SI 2013/1773, reg 4(2)). For further...
The Financial Services Enforcement Database The Financial Services Enforcement Database holds detailed information on all substantive FCA and PRA Final Notices and, where available, Decision Notices issued from 2014 onwards. It can be queried and refined across multiple fields. Rule or legislation breached Keyword and sector Date Financial penalty and analysis of penalty components Outcomes, including redress and prohibition orders Other actions, such as referrals to the Upper Tribunal In the UK, oversight of financial services is carried out by two distinct regulators, the Financial Conduct Authority ( FCA) and the Prudential Regulation Authority ( PRA), each with enforcement powers. The FCA operates a judgement-based as well as risk-based model, evaluating a firm’s position in the wider market to place investor interests at the heart of business models, while also delivering an appropriate level of consumer protection. The FCA’s primary objective is that UK financial markets function...
Part XII of the Financial Services and Markets Act 2000 ( FSMA 2000) Under Part XII, any controller or would-be controller must secure consent from the Financial Conduct Authority ( FCA) or the Prudential Regulation Authority ( PRA) before taking or increasing control of a UK authorised firm, and must notify the relevant regulator when reducing or ceasing control. The FCA and PRA likewise require UK authorised firms to inform them whenever a person acquires, increases or reduces control in the firm, with the notification made by the firm alone or jointly with the controller or proposed controller. Firms must also monitor their controllers and submit an annual report to the appropriate regulator, identifying all controllers. These requirements are designed to ensure the appropriate regulator receives the information needed to fulfil its responsibility to monitor and, in some instances, provide prior approval of firms’...
Lawful grounds for data processing under the GDPR—summary for financial services firms This Practice Note outlines how financial services firms may rely on legal obligation or legitimate interest as a lawful basis for handling personal data under the General Data Protection Regulation ( EU) 2016/679 ( EU GDPR), and the Assimilated Regulation ( EU) 2016/679 ( UK GDPR), which applies in the UK. This overview focuses on reliance by firms in the financial services sector in particular. For general background on the EU GDPR and UK GDPR, see the following Practice Notes: Introduction to the EU GDPR and UK GDPR The Data Protection Act 2018 The Information Commissioner’s Office ( ICO) has issued guidance on the UK GDPR, which is available here. Note that the Data ( Use and Access) Act 2025 ( DUAA 2025) obtained Royal Assent on 19 June 2025 and partly...
Cryptoassets—the basics At its most basic, cryptoassets are a type of digital currency that uses cryptography to validate transactions conducted in that currency. Functioning without a central authority, they provide near-instant, pseudonymous transfers, operating outside the conventional banking system. For further reading on the formation of cryptoassets, see: Fintech—overview Cryptoassets—overview Practice Note: Web 3.0, digital assets and cryptoassets—essentials Insolvency and restructuring in the context of cryptoassets This Practice Note examines issues an insolvency professional (including an insolvency practitioner ( IP)) may encounter when appointed to handle a cryptoasset-related insolvency. It does not address the position of cryptoassets within personal bankruptcy. Although it is broadly accepted that legal and regulatory scrutiny of cryptoassets lags behind, legislators and regulators—alert to their rapid expansion and market capitalisation—are swiftly strengthening existing frameworks or crafting new regimes. For further information, see Practice Notes: UK regulation of...
The Lexis+® UK Financial Services team’s One minute guides are a set of Practice Notes offering swift overviews of Financial Services regulatory subjects. Designed to bring readers up to speed fast, the One minute guides below provide concise summaries and address a range of Financial Services areas. For fuller direction on these, and other Financial Services matters, consult the Lexis+® UK Financial Services essentials Practice Notes, as listed in Essentials Practice Notes—financial services. For a primer on the Lexis+® UK Financial Services content types, see Practice Note: Financial Services—getting started guide. EU (and EU derived) FS regulation one minute guides AIFMD—one minute guide—this bite-sized guide distils the principal obligations under the Alternative Investment Fund Managers Directive ( AIFMD). Find this Practice Note, together with additional material on AIFMD, in Financial Services AIFM regime—overview Appealing against a European Supervisory Authority...
This tax tracker outlines the current position of US FATCA intergovernmental agreements ( IGAs) and UK FATCA IGAs. It is organised into three sections: US FATCA— IGAs in force US FATCA— IGAs signed, or agreed in substance, but not yet in force UK CDOT—automatic exchange of information agreements between the UK and Crown dependencies and overseas territories US FATCA— IGAs in force Set out below is a compilation of IGAs between the US and another country that are currently in force. Be aware that the date an IGA took effect may differ from the date on which that jurisdiction is regarded, under US law, as having an IGA in effect. For further detail, see Practice Note: US: Foreign Account Tax Compliance Act ( FATCA)—summary — What is an intergovernmental agreement?. This list is drawn from US Treasury Department sources and was last...
The Financial Conduct Authority ( FCA), the Bank of England ( Bo E) — which includes the Prudential Regulation Authority ( PRA) — (together, the regulators) can take steps against individuals and companies that carry on activities without proper authorisations. This Practice Note outlines the regulators’ approach to enforcement in respect of unauthorised business matters. The general prohibition The general prohibition lies at the core of the UK regulatory regime. In essence, any person providing financial services must hold the requisite authorisations and permissions to act lawfully. Since 2013, with the introduction of a UK regulatory structure covering the Bank of England (e.g. for recognised clearing houses), the PRA (which forms part of the Bo E), and the FCA, firms are expected to consider whether authorisation is needed from multiple bodies. In theory, there remains substantial scope for firms to breach the...
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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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