Macfarlanes

Edward Karsten, William Sykes

March 31, 2021

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Pension scheme arrangements clearing exemption – proposed EMIR extension and the UK’s approach

EU law – current law

EMIR, as amended by EMIR Refit, provides that certain pension scheme arrangements are temporarily exempt from the...

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Kaniz Gatt

March 30, 2021

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PRA publishes its final views on operational resilience, outsourcing and third party risk management

Yesterday the Prudential Regulatory Authority (PRA) jointly issued a policy statement (PS) 6/21 with the Financial Conduct Authority and...

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Damiano Sogaro

March 29, 2021

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An Englishman’s home (and his garden?) is his castle

What do an unmown meadow, a paddock and a gentleman’s agreement to use land adjacent to their house have in common?

All are insufficient...

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Rebecca Delaney

March 26, 2021

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Tax Day: top five points for property

Following the Government's inaugural Tax Day, we have summarised the top five key takeaways for the property sector.

For a headline review...

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Gavin Haran

March 26, 2021

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ESMA finds faults with UCITS’ liquidity risk management

Since Woodford’s Equity Income Fund collapsed, regulators have been especially concerned with managers’ ability to achieve promises to...

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Clare Wilson

March 26, 2021

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Charity law reform: Government accepts majority of Law Commission recommendations

In 2017, the Law Commission published a report, Technical Issues in Charity Law. It acknowledged that “charities currently face...

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Lorna Emson

March 26, 2021

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Hot streak: more enforcement action from the UK Gambling Commission for AML failures

The UK Gambling Commission (UKGC) has announced a £6m fine against another gambling company as a result of social responsibility and...

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Gregory Price

March 24, 2021

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An update on HMRC's drive to uncover uncertain tax positions

I wrote last year about a proposal that all large businesses be required to notify HMRC in advance if they are taking a tax position that...

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Catherine Hill, Rhiannon Kinghall Were

March 23, 2021

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Tax day: the key points for businesses

Today the Government published their tax policies and consultations for Spring 2021, comprised of an overview Command Paper, eight...

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Richard Alam

March 23, 2021

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How has Brexit changed disputes with contractors or suppliers based in the EU?

The rules relating to disputes with a European element have changed as a result of Brexit and the end of the UK’s transition period on 31...

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Anne Todd

March 22, 2021

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Reliance losses and another lesson in drafting liability and exclusion clauses in IT agreements: CIS Insurance Limited v IBM

The recent decision in CIS v IBM, is a timely reminder of the importance of paying careful attention to the drafting of exclusions of...

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Clare Wilson

March 22, 2021

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UK Trust Registration Service – extra time granted to comply

The UK Trust Registration Service (TRS), first introduced in 2017 to enact the EU Fourth Money Laundering Directive, currently requires...

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Aalia Datoo

March 19, 2021

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Why diversity and inclusion are regulatory issues

Earlier this week, at the launch of the HM Treasury Women In Finance Charter Annual Review, the FCA’s CEO Nikhil Rathi set out why, as a...

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Lorna Emson, Adam Fieldgate

March 18, 2021

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House edge: UK Gambling Commission issues another fine over money laundering failures

The UK Gambling Commission has announced a £3.4m fine levied against In Touch Games Limited (In Touch) after uncovering a series of...

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Leanne Carter, Sheamal Samarasekera

March 17, 2021

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The Pensions Regulator releases draft guidance on its approach to prosecuting new criminal offences

The Pensions Regulator has published for consultation draft policy guidance outlining its approach to investigating and prosecuting the...

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Olivia Buck

March 17, 2021

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Cryptoart, artist authentication and the “original work”

Buyers of artwork usually expect to own the original piece and proudly display it in their homes or at a gallery or loan it to a museum....

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Rob Daniell

March 15, 2021

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ESMA and ESA increase the short sale position reporting threshold from 0.1% to 0.2%

On 15 March 2021, the European Securities and Markets Authority (ESMA) and the EFTA Surveillance Authority (ESA) announced that the...

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Jamie Macpherson

March 12, 2021

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The coming end of LIBOR

Long trailed and now confirmed: the FCA has announced the future cessation or loss of representativeness of all LIBOR currency-tenor...

Rhiannon Kinghall Were

March 9, 2021

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The small print of the 25% corporation tax

Last week the Chancellor announced at the Budget that the rate of corporation tax in the UK will increase to 25% by April 2023. While the...

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Edward Karsten

March 9, 2021

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Derivatives margin – UK launches consultation for proposed changes

Following recent changes to EU law regarding derivatives margin and clearing and indications by the UK’s Prudential Regulation Authority...

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Sekou Taylor

March 8, 2021

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Starting to test the territorial scope of the GDPR

Since 2018, many organisations based outside of the EU have been grappling with whether the extra territorial scope of the GDPR means...

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Harriet Miller

March 5, 2021

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The SEC takes a different approach to the EU in tackling ESG greenwashing

Tackling climate change is back on the agenda in the US, and is a renewed area of focus for the SEC: on 4 March, the SEC announced the...

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Alexandra Green, Gavin Haran

March 5, 2021

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FCA scrutinises asset managers’ product governance

The FCA has published the results of its review into UK asset managers’ implementation of the MiFID II product governance rules. The FCA...

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Gregory Price

March 3, 2021

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Budget 2021: from fiscal drag to super deductions

As the Chancellor sits down after delivering his speech, let's start with the things that have not become more complicated. The rates and...

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Paul Hardwick

March 2, 2021

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A wealth tax? Or a "one-off" wealth tax, after coronavirus?

Yesterday the Treasury Committee published a report entitled Tax after coronavirus. Select committee reports are not always accurate...

Contributors

Macfarlanes Archive

Pension scheme arrangements clearing exemption – proposed EMIR extension and the UK’s approach

PRA publishes its final views on operational resilience, outsourcing and third party risk management

An Englishman’s home (and his garden?) is his castle

Tax Day: top five points for property

ESMA finds faults with UCITS’ liquidity risk management

Charity law reform: Government accepts majority of Law Commission recommendations

Hot streak: more enforcement action from the UK Gambling Commission for AML failures

An update on HMRC's drive to uncover uncertain tax positions

Tax day: the key points for businesses

How has Brexit changed disputes with contractors or suppliers based in the EU?

Reliance losses and another lesson in drafting liability and exclusion clauses in IT agreements: CIS Insurance Limited v IBM

UK Trust Registration Service – extra time granted to comply

Why diversity and inclusion are regulatory issues

House edge: UK Gambling Commission issues another fine over money laundering failures

The Pensions Regulator releases draft guidance on its approach to prosecuting new criminal offences

Cryptoart, artist authentication and the “original work”

ESMA and ESA increase the short sale position reporting threshold from 0.1% to 0.2%

The coming end of LIBOR

The small print of the 25% corporation tax

Derivatives margin – UK launches consultation for proposed changes

Starting to test the territorial scope of the GDPR

The SEC takes a different approach to the EU in tackling ESG greenwashing

FCA scrutinises asset managers’ product governance

Budget 2021: from fiscal drag to super deductions

A wealth tax? Or a "one-off" wealth tax, after coronavirus?