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EU Securitisation Regulation—timeline

EU Securitisation Regulation—timeline This timeline shows key developments relating to Regulation (EU) 2017/2402 (the EU Securitisation Regulation) from January 2024 onwards. For earlier developments, see EU and UK Securitisation Regulations—timeline [Archived]. 2025 Date Source Document Description 1 April 2025 AFME The Joint Associations’ response to the ESMA consultation of February 2025 on the revision of the disclosure framework for private securitisation AFME, Commercial Real Estate Finance Council (CREFC) Europe and International Capital Market Association (ICMA) submitted a joint response to the European Securities and Markets Authority's (ESMA) consultation on revising private securitisation disclosure requirements. The joint response argues against: introducing a simplified reporting regime for EU-originated securitisations before wider reforms, citing concerns about potential changes to private securitisation definitions, continued template-based reporting requirements, and unresolved third-country reporting issues. They propose an alternative approach focusing on supervisory reporting needs while allowing more flexible investor disclosures.See: LNB News 01/04/2025 71. 31 March 2025 EBA Joint Committee Report on the implementation and functioning of the Securitisation Regulation (Article 44) The Joint Committee...

Drafting a building contract/schedule of amendments—checklist

Drafting a building contract/schedule of amendments—checklist Once the procurement route and form of building contract has been selected (see Practice Note: Choosing the right procurement method—construction projects) the employer should consider the following matters and incorporate the appropriate drafting in the building contract particulars and schedule of amendments. This Checklist assumes that the parties are using a standard form of building contract, such as a JCT form, and that the employer is proposing the first draft including the completed contract particulars and a schedule of amendments, which amends the standard terms. This list is not exhaustive, however, and there may be other project specific matters/risks that need to be taken into account: Contractual matters • Carry out due diligence on the contractor The employer needs to carry out due diligence on the contractor at the outset to determine whether its financial position is acceptable. Confirm the contractor’s company number and name at Companies House. • Obtain consultants’ details Confirm the full details of the consultants engaged by the employer; some...

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LTA 1954 unopposed lease renewal procedure—flowchart

LTA 1954 unopposed lease renewal procedure—flowchart A business lease automatically continues after the expiry of the contractual term if the tenant remains in occupation for business purposes under the Landlord and Tenant Act 1954 (LTA 1954). The statutory rights under the existing lease may be terminated by either party serving one of the statutory notices of termination. This flowchart sets out the procedure for an LTA 1954 unopposed business lease renewal. For the LTA 1954 opposed business lease renewal procedure, see: LTA 1954 opposed lease renewal procedure—flowchart. For more information regarding LTA 1954 security of tenure and the court procedure, see Practice Notes: LTA 1954 business lease renewal—proceedings and LTA 1954 business lease renewal—termination. Note 1 Diarise a date at least 12–18 months in advance of the contractual expiry date of the current lease. See Practice Note: LTA 1954 business lease renewal—termination. Note 2 Information must be provided within one month of service of notice. A party has a duty to correct any information supplied for six months...

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Preparing for the auditors—in-house lawyers

Preparing for the auditors—in-house lawyers One of the key dates in your organisation’s calendar is the date of the annual audit. An important part of the auditors’ role is to ensure that your organisation’s processes are fit for purpose. Central to that is your organisation’s approach to legal matters and legal risk. As an in-house lawyer, you need to prepare for the auditors’ visit because inevitably they will want to meet with you. While each audit firm has its own standard set of questions for in-house lawyers, the questions tend to follow certain themes, eg: • your risk register • litigation • applicable law and regulation • contracts • intellectual property (IP) • legal work process • your knowledge and experience Since joining your organisation, you have hopefully had the opportunity to meet with the key directors and heads of function. Those meetings will have given you the opportunity to find out more about many of the issues the auditors will be interested in. See Practice...

Reporting on the findings of the due diligence review in a private equity buyout transaction

Reporting on the findings of the due diligence review in a private equity buyout transaction This Practice Note is part of the Lexis+® UK Corporate private equity buyout transaction toolkit. The reporting process Each adviser engaged to conduct due diligence should both report their key findings (especially any key issues and problems) as they are discovered and also then prepare a due diligence report to highlight material issues arising from their review exercise. The advisers’ engagement letters should set out the agreed timing, form and content of the due diligence report. Draft or interim reports may be prepared and circulated periodically throughout the process, so that material issues can be dealt with as they arise. Often, by the time the final report is submitted to the private equity investor, the investor will be aware of all material issues which may affect the transaction. The purpose of a legal due diligence report is to: • give the investor sufficient information about the target and to summarise that information...

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Articles of association—tenants’ management company limited by shares

ARTICLES OF ASSOCIATION OF [NAME] MANAGEMENT COMPANY LIMITED A precedent form of articles of association for a management

Letter of instruction to single joint expert—employment tribunal proceedings

Letter of instruction to single joint expert—employment tribunal proceedings Private & confidential [Insert name and address of expert] [Insert date] Dear [insert name of expert] [Insert case heading, eg Ms R Jones v Supermarkets Plc, ET Case Number: 12345] Instruction to act as single joint expert Thank you for agreeing to act as the expert witness in this matter. As you know you will be acting as a single joint expert. We act for [insert name of client] who is [bringing OR defending OR an employment tribunal claim against [insert name of opposing party/parties]. This letter has been countersigned by the solicitors acting on behalf of [insert name of opposing party/parties] to confirm their agreement to the terms of this letter. The aim of this letter is to provide you with the relevant factual background, key documents and to identify the issues you will need to consider. As an expert witness you will be aware of the need for you to comply with certain duties and ensure...

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Can we have a COLP who works part-time?

Can we have a COLP who works part-time? All firms must have a compliance officer for legal practice (COLP), authorised by the SRA. This Q&A explains whether your COLP has to be full-time or whether you can appoint someone who works on a part-time basis. It also explains whether you have to notify the SRA is your existing COLP reduces their working hours. What do the rules say? The SRA Authorisation Rules are prescriptive about the COLP’s status (manager or employee of the firm as defined in the SRA Glossary) but not about their hours and there is no formal requirement for the COLP to work full-time. The question, however, is whether the COLP can discharge their regulatory duties on a part-time basis. These duties are: • take all reasonable steps to ensure compliance with the SRA Handbook (apart from the Accounts Rules), terms and conditions of the firm’s authorisation and other relevant legislation/regulation • report material compliance failures to the SRA as soon as reasonably...

If an unincorporated association refuses to disclose its membership, who should be named as the defendant in proceedings where the limitation period is about to expire?

If an unincorporated association refuses to disclose its membership, who should be named as the defendant in proceedings where the limitation period is about to expire? An unincorporated association is not a legal entity and so, in theory at least, cannot sue or be sued in its own name. This was the position set out in London Association for Protection of Trade v Greenlands Limited. The legal position was considered in some detail in Chancellor, Masters and Scholars of the University of Oxford v Broughton. This case involved a campaign by the Animal Liberation Front and associated organisations. The normal way forward would be to obtain a representation order whereby a named member or members or officers of the association would be made parties ‘on behalf of the members of the association’. However, it may not be possible to seek and obtain such a representation order before the limitation period expires and therefore, the potential claimant may wish to know whether it can join...

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HM Treasury unveils ten-year Infrastructure Strategy with £725bn clean energy investment plan

HM Treasury, in partnership with the National Infrastructure and Service Transformation Authority (NISTA) and the Chancellor of the Exchequer, the Rt Hon Rachel Reeves MP, has unveiled a landmark ten-year Infrastructure Strategy as part of the Plan for Change. This detailed strategy commits at least £725bn to infrastructure investment through to 2035, with the dual aim of establishing the UK as a clean energy superpower and providing long-term investment certainty. It outlines aggressive 2030 clean power targets of 43–50 gigawatts (GW) offshore wind, 27–29 GW onshore wind, and 45–47 GW solar capacity, while allocating £9.4bn for carbon capture, usage and storage projects and £500m for hydrogen transport infrastructure. In addition, the strategy sets aside £14.2bn for the development of Sizewell C and £2.5bn for small modular reactor programmes, with Great British Energy set to invest £8.3bn in clean power projects, including £300m for offshore wind supply chains.

Survey finds over one million gig workers ‘can’t afford’ to save for a pension

Law360: More than a million 'gig' workers in the UK cannot afford to save into a pension, a retirement savings company has said, amid growing fears that younger and more precarious workers will not have adequate savings in later life.