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FCA financial crime guidance—supporting materials

FCA financial crime guidance—supporting materials Financial crime is a key supervisory and enforcement priority for the Financial Conduct Authority (FCA). The FCA requires firms to implement systems and controls aligned with their regulatory and legislative obligations to identify and mitigate their financial crime risk. The FCA may take disciplinary and enforcement action against a firm and/or its senior management for deficient financial crime systems and controls, even if a breach or crime has not occurred. To assist firms in their compliance, the FCA publishes guidance in its Financial Crime Guide (FCG) and Financial Crime Thematic Reviews (FCTR), addressed in Practice Note: FCA financial crime guidance: FCG and FCTR. The FCA also publishes various materials providing additional guidance on its regulatory requirements. This Checklist sets out supporting materials published by the FCA relating to financial crime systems and controls in the form of multi-firm reviews, thematic reviews, case studies; supervisory correspondence, speeches, podcasts and webinars on the topics set out in the FCA’s FCG—insider dealing and market manipulation; money laundering and...

Checklist for Notice following a competition under the Competitive Process

Checklist for Notice following a competition under the Competitive Process This Checklist sets out the information required to be included in a notice following a competition under the Competitive Process to be sent to the UK central digital platform to comply the transparency requirements mandated by the Health Care Services (Provider Selection Regime) Regulations 2023 (PSR Regs 2023), SI 2023/1348, reg 11(17), Sch 11 Information to be included Further reading Statement that the award follows a competition under the Competitive Process See Practice Notes:—Health care procurement under the Provider Selection Regime—Transparency—Health care procurement—procurement process—Competitive process Contract or framework agreement title and reference Name and address of the registered office or principal place of business of the provider to whom the contract has been awarded or with whom a framework agreement has been

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Excluded property from 6 April 2017—flowcharts

Excluded property from 6 April 2017—flowcharts These flowcharts are designed to help determine if an asset is excluded property for the purposes of UK inheritance tax (IHT) on or after 6 April 2017. The flowcharts consider whether an asset is excluded property or not, depending on the situs of the property and the domicile of the beneficial owner or settlor as appropriate. However, the detailed provisions relating to excluded property should be referred to and practitioners should also consider whether a double tax treaty may apply to override the excluded property regime depending on the particular circumstances of a matter. See Practice Note: Double taxation relief—summary. Conversely, unilateral relief from IHT may apply where a tax of a similar nature has already been levied in respect of the same asset by a foreign tax authority. For further information, see Practice Notes: Excluded property trusts—key events affecting IHT status and Situs of assets for succession and IHT. Situs of property The situs of an asset is important for determining the...

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Private Client Legal Research resources

Private Client Legal Research resources The following key Private Client resources are available in Lexis+® UK and linked to throughout Private Client content, providing useful practical commentary, legislation, rules and guidance for Private Client lawyers working in private practice or in-house. Please note the titles listed can only be accessed with the relevant Lexis+® UK subscription(s). Wills, probate and trusts Title Summary Who should use this resource? Williams on Wills The leading commentary on all aspects of the law of Wills. Lawyers or other professionals involved in the drafting or interpretation of Wills. Tristram and Coote's Probate Practice The leading commentary on probate, providing up-to-date, expert guidance on all aspects of probate procedure and including precedents recommended by Probate Registrars. Lawyers or other professionals involved in probate or estate administration work, including contentious probate. Butterworths Wills Probate and Administration Service A comprehensive service containing clear, step-by-step guidance on all areas of the law and practice of probate and estate administration, from...

Heritage property—the conditional exemption

Heritage property—the conditional exemption Conditional exemption from inheritance tax (IHT) on a transfer of value of a qualifying asset is available at the discretion of the Treasury (assessed via the appropriate body, currently the Arts Council England). The aim, as with many of the heritage property reliefs, is to help ensure that pre-eminent heritage assets are retained in the UK and protected for the benefit of the nation as a whole rather than sold to private dealers. In order for a transfer to be conditionally exempt, certain conditions must be met and the owner (or other relevant person) must give undertakings that the item will be maintained and that reasonable public access will be allowed. Conditions for exemption to apply In order for the conditional exemption to apply, certain conditions must be met: • the property transferred must qualify (and be designated by the appropriate body) as being pre-eminent for its national, scientific, historic or artistic interest or in the case of land and buildings for its scenic,...

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Trust for a disabled person—discretionary

Trust for a disabled person—discretionary This TRUST is made on [date] Parties 1 [settlor] of [address] (the Settlor) and 2 [original trustees] of [addresses] (the Original Trustees) Background (A) The settlor wishes to make this Trust and has transferred to the Original Trustees the assets described in Schedule 1 to be held on the following trusts. (B) The Principal Beneficiary is a disabled person within the meaning of that term in the Finance Act 2005, Schedule 1A. This Deed PROVIDES: 1 Definitions and interpretation In this Trust: 1.1 Discretionary Beneficiaries • means (a) any spouse or [widower OR widow] whether or not remarried of the Principal Beneficiary; (b) the descendants of the Principal Beneficiary; (c) the spouses, widows or widowers (whether or not remarried) of the descendants of the Principal Beneficiary; 1.2 Principal Beneficiary • means [disabled person]; 1.3 spouse • shall include a civil partner registered under the Civil Partnership Act 2004 and a spouse of the same sex, and a person is a...

Explanatory note for a client's Will—fully discretionary

Explanatory note for a client's Will—fully discretionary STOP PRESS: Abolition of non-dom regime and introduction of residence-based IHT regime. Finance Act 2025 (FA 2025) which received Royal Assent on 20 March 2025, implements legislation to abolish the remittance basis of taxation and replace it with a residence-based regime, commencing on 6 April 2025. FA 2025 also replaces domicile as the key factor in establishing liability to inheritance tax. Other changes include amendment of the rules determining excluded property status, the abolition of protected settlements status of offshore trusts, and changes to overseas workday relief. For information on these changes, see Practice Notes: The abolition of the remittance basis of taxation from 2025–26 and A new residence-based regime for IHT from 2025–26. See also: Finance Bill Tracking Service: Key dates (Finance Bill 2025) and Finance Act 2025. [Your ]Will—[explanatory note] This [explanatory note] explains the main provisions of your Will. Please read this [explanatory note] and your Will carefully. If, after reading this [explanatory note] and your Will, you conclude that...

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What procedure must a listed company follow to offer a DRIP?

What procedure must a listed company follow to offer a DRIP? A dividend re-investment plan (DRIP) allows a shareholder to receive shares in a company as an alternative to receiving a cash dividend. If a shareholder agrees to participate in a DRIP, when the company next declares a cash dividend it applies that dividend to buy existing shares in the market on behalf of the shareholder. A DRIP is similar to a scrip (or stock) dividend scheme in that they both allow a participating shareholder to acquire further shares in a company in lieu of a cash dividend. A scrip dividend, however, involves the issue of new shares in the company to the participating shareholder, who foregoes the cash payment they would otherwise receive, rather than the purchase of shares in the market. For more information on the law relating to scrip dividends and the procedure to be followed if one is to be offered, see Practice Note: Scrip dividends. A listed company that wishes to...

Would a grave deed be considered an asset for the purposes of financial remedy proceedings. If a spouse is named on grave deeds, would the family court have jurisdiction to have that spouse’s name removed under the inherent jurisdiction?

Would a grave deed be considered an asset for the purposes of financial remedy proceedings. If a spouse is named on grave deeds, would the family court have jurisdiction to have that spouse’s name removed under the inherent jurisdiction? A grave deed is the name given to a deed of grant relating to a grave. It provides that the person who is the beneficiary of the grave deed is the person who has control of the relevant grave, and allows that person to authorise matters relating to the grave, such as its reopening for further burials, the erection of memorials, and the like. The right is usually personal, but section 44 of the Cemeteries Clauses Act 1847 provides that rights of burial in a place of burial, whether granted in perpetuity or for a limited time is considered as the personal estate of the grantee, and may be assigned in their lifetime or transferred and left by will. Generally, before a burial takes place, authority is required, usually from the...

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Financial Services—other developments (30/6/2025)

A round-up of other developments, which have not been covered in full by the ÀÏ˾»úÎçÒ¹¸£Àû Financial Services practical guidance team but may nevertheless be of interest.

How Staley’s legal bid to save his reputation backfired

Law360, London: Former Barclays boss James 'Jes' Staley's bid to salvage his reputation has backfired in the face of a London tribunal's findings he 'lacked credibility' due to the 'overwhelming' evidence of his close relationship with convicted sex offender Jeffrey Epstein.