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View the related checklists about Advising

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...

Redundancy—individual consultation checklist for employers

Redundancy—individual consultation checklist for employers This Checklist outlines steps to be taken in individual redundancy consultation, whether or not consultation has also taken place at a collective level. It sets out practical considerations involved in planning a redundancy process and covers what should be discussed at open meetings with affected employees, what should be included in letters to affected employees, what should be discussed at individual consultation meetings, what should be included in the notice of dismissal and information to be given about the right of appeal. For further guidance on individual redundancy consultation obligations generally, see Practice Notes: Redundancy—fair procedure: individual consultation and How to carry out individual redundancy consultation. This Checklist assumes that the employer has determined whether collective consultation is required (see Checklist: Redundancy—collective consultation checklist for employers—Identify redundancy situation). This Checklist is to be used: • where there is an obligation to consult collectively as, even where that obligation is fulfilled, the employer must still consult individually with the employees • where there is no obligation...

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Regulated mortgage contracts—flowchart

Regulated mortgage contracts—flowchart Background to and scope of this flowchart On 31 October 2004 (a date known as ‘M Day’), lenders and intermediaries of regulated mortgage contracts (RMCs) became regulated. A person that carries on a regulated activity in the UK by way of business, where there is no applicable exclusion or exemption, must be authorised under the Financial Services and Markets Act 2000 (FSMA 2000). The purpose of this flowchart is to set out the main questions to ask a person to determine whether or not they are carrying on the following RMC activities that are regulated under the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001, SI 2001/544 (RAO): • arranging (bringing about) RMCs (RAO, SI 2001/544, art 25A(1)) • making arrangements with a view to a person who participates in the arrangements entering into a RMC as a borrower (RAO, SI 2001/544, art 25A(2)) • making arrangements to enter into a RMC with a borrower on behalf of a lender (RAO, SI 2001/544, art 25A(2A)) •...

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Advising on mortgages and home finance transactions

Regulated activities—generalThe Financial Services and Markets Act 2000 (FSMA 2000) regulates home finance transactions. FSMA 2000, s 19(1) provides that a person (meaning any person, including a body of persons corporate or unincorporate (that is, a natural person, a legal person and, for example, a partnership)) cannot carry on a regulated activity in the UK unless they are an authorised person or exempt. For more information about exemptions relating to the regulated activity of entering into regulated credit agreements as lender, see Exclusions—Exclusions of general applicability below.For more information about regulated activities, see Practice Note: What are regulated activities?In accordance with FSMA 2000, s 22, for an activity to constitute a regulated activity, it must be carried out 'by way of business'. According to FCA guidance, whether or not an activity is carried on by way of business will depend on several factors, including the scale of the activity, the degree of continuity, the existence of a commercial element and the nature of the particular regulated activity (see guidance 2.3.3 of the Financial...

Advising on basic stakeholder products, investments, pension transfers and loan-based crowdfunding agreements

This Practice Note covers the regulated activities of providing basic advice to retail consumers on stakeholder products and of advising on: •securities, structured deposits and relevant investments•loan-based crowdfunding agreements, and •the conversion or transfer of pension benefitsProviding basic advice to retail consumers on stakeholder productsProviding basic advice to retail consumers on stakeholder products is a regulated activity under article 52B of the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001, SI 2001/544 (RAO). This activity covers advice in the form of a recommendation given by a person (P), in the course of a business that P carries on, to a ‘retail consumer’. The recommendation must relate to a stakeholder product and certain conditions relating to the provision of basic advice must be met. A retail consumer is any person who is advised by P giving the basic advice on the merits of opening or buying a stakeholder product in the course of a business carried on by P and who does not receive the advice in the course of a business carried on by him:•a stakeholder CTF•a stakeholder pension...

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Letter recommending insurance—demands and needs—law firms

Letter recommending insurance—demands and needs—law firms   We have reached a stage in your matter where we believe it would be in your best interests to buy [insert type of insurance]. We have suggested you buy the insurance from [state name of insurance provider to whom you have introduced the client for insurance or who has given you delegated authority to issue a policy]. This is something we have already discussed and you have agreed that we will [state what you will do to arrange the insurance, eg complete and submit a proposal form on your behalf or issue the policy under delegated authority]. You have consented to us disclosing relevant personal data and information to [state name of insurance provider] for this purpose. Fees, charges and commission Insurance premium The [insert type of insurance] insurance policy costs £[insert amount or where it is not possible to give a specific amount, the basis for the calculation of the premium]. This is called the 'insurance premium'. [Explain what you...

Letter—to witness regarding giving evidence and procedure at tribunal hearing

Letter—to witness regarding giving evidence and procedure at tribunal hearing [Insert name and address of witness] Private and confidential Dear [insert name] [Insert name] Employment tribunal claim Employment tribunal hearing [insert date] Further to our recent [correspondence OR discussions], I write in order to provide you with some information as to the tribunal procedure, and what to expect at the hearing listed for [insert date], at which you have agreed to appear as a witness. Before the hearing It would be most helpful if, before the hearing, you familiarise yourself with your witness statement and any documents that I have sent to you for the purposes of this hearing. As discussed when we prepared your witness statement, it is very important that you are happy with its contents, as the more confident you are with your statement, the easier you will find the experience of giving evidence and the better your evidence will come across to the tribunal. If you have any questions regarding your statement,...

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Where can I find information relating to FCA perimeter issues?

Where can I find information relating to FCA perimeter issues? The FCA's Perimeter Guidance manual (PERG) provides guidance about the circumstances in which authorisation is required, or exempt person status is available, including guidance on the activities which are regulated under the Financial Services and Markets Act 2000 (the Act) and the exclusions which are available. Application of the Perimeter Guidance manual (PERG) PERG applies to: • a person who is considering carrying on activities in the United Kingdom which may fall within the scope of the Act and is seeking guidance on whether he/she needs to be an authorised person • a person who seeks to become an authorised person under the Act and who is, or is considering, applying for Part 4A permission to carry on regulated activities in the United Kingdom • a person who is seeking guidance on whether any communication he/she may be seeking to make or cause to be made will be a financial promotion and be subject to the restriction...

Is it acceptable for a liquidator and the only creditor in an insolvency situation to be represented by the same solicitor? Or is this a conflict?

Is it acceptable for a liquidator and the only creditor in an insolvency situation to be represented by the same solicitor? Or is this a conflict? Both insolvency practitioners (IPs) and solicitors are members of professions that are governed by separate ethics codes. Both IPs and solicitors, before accepting an appointment or an instruction, should carry out documented procedures to ensure that there would not be a conflict of interest or breach of their ethics code in accepting the appointment or instruction. The question does not specify whether the conflict concerned would be for the solicitor or the IP and although both issues are considered, this answer deals primarily with the IP and whether the IP would have a conflict of interest. The insolvency ethics code sets out a framework approach that is to be followed in all cases to establish whether there is a conflict of interest. The IP should first of all assess whether there are any threats to the fundamental principles of integrity,...

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Banking and Finance weekly highlights—8 May 2025

This week's edition of Banking and Finance weekly highlights includes: (1) the Council of the EU mandate to shorten settlement cycle for transferable securities; (2) HM Land Registry updates Practice Guide 29; and (3) European Commission consults on revising EU SFDR.

Corporate weekly highlights—8 May 2025

This week's edition of Corporate weekly highlights includes: the publication of technical advice by the European Security and Markets Authority (ESMA) as part of the implementation of the European Listing Act, and a Scottish case relating to a refusal of a reclaiming motion concerning an alleged conspiracy to conclude an investment and share purchase agreement. This week’s edition also includes free access to a webinar on corporate governance developments in 2024 and 2025, presented by expert speakers, courtesy of ����Ӱ��® Webinars.

View the latest UK Parliament Acts documents on Advising

19 The general prohibition

19  The general prohibition(1)     No person may carry on a regulated activity in the United Kingdom, or purport to do so, unless he is—(a)     an authorised person; or(b)     an exempt person.(2)     The prohibition is referred to in this Act as the general prohibition.

Financial Services and Markets Act 2000 (2000 c 8)

Financial Services and Markets Act 20002000 CHAPTER 8An Act to make provision about the regulation of financial services and markets; to provide for the transfer of certain statutory functions relating to building societies, friendly societies, industrial and provident societies and certain other mutual societies; and for connected purposes.[14th June 2000]BE IT ENACTED by the Queen's most Excellent Majesty, by and with the advice and consent of the Lords Spiritual and Temporal, and Commons, in this present Parliament assembled, and by the authority of the same, as follows:—Part I . . .1 . . .. . .2 . . .. . .3 . . .[3A . . .]4 . . .5 . . .6 . . .[. . .][6A . . .]. . .7 . . .. . .8 . . .9 . . .10 . . .11 . . .. . .12 . . .13 . . .. . .14 . . .15 . . .16 . . .17 . . .18 . . .[Part 1A The Regulators][Chapter 1 The Financial Conduct Authority][The Financial Conduct Authority][1A The Financial Conduct Authority][The FCA's general duties][1B The FCA's general duties][1C The consumer protection objective][1D The integrity objective][1E The competition objective][Interpretation of terms used in relation to FCA's general duties][1F Meaning of “relevant markets” in strategic objective][1G Meaning of “consumer”][1H Further interpretative provisions for sections 1B to 1G][1I Meaning of “the UK financial system”][Modifications applying if core activity not regulated by PRA][1IA Modifications applying if core activity not regulated by PRA][Power to amend objectives][1J Power to amend objectives][Recommendations][1JA Recommendations by Treasury in...