Disclosure Definition

See All Glossary Terms

Related Glossary Terms

Case studies

"We rely on ��Ӱ�� to give us a definitive answer, quickly and reliable every time so that we can be confident in the advice we use to help our clients."

Shelter

Access all documents on Disclosure

GET ACCESS NOW

GLOSSARY

Published by a ��Ӱ�� Dispute Resolution expert

What does Disclosure mean?

Disclosure of a document occurs by a party stating that it exists or has existed.

Disclosure is governed by CPR Rule 31. Disclosure in commercial law normally refers to the process in civil litigation (formerly known as discovery) where each party discloses to the other all documents relevant to the proceedings and not protected from disclosure or obligations concerning the disclosure of interests in shares of public companies.

Speed up all aspects of your legal work with tools that help you to work faster and smarter. Win cases, close deals and grow your business–all whilst saving time and reducing risk.

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...

Establishing a share incentive plan (SIP) and granting SIP awards—all-encompassing resource pack

Establishing a share incentive plan (SIP) and granting SIP awards—all-encompassing resource pack For more general information on share incentive plans (SIPs), see Practice Note: What is a share incentive plan? Step Details of step Lexis®PSL resources required to implement step Timing of step 1 Determine whether the company qualifies to operate a SIP. The SIP regime is prescriptive and sets out numerous requirements that must be met at the time the awards are granted, including in relation to the company granting the awards. It is essential to establish whether the company whose shares are being granted under award qualifies to operate a SIP first. The proposed award holder(s) must also meet certain requirements in order to be granted SIP awards. For further detailed information on the SIP eligibility requirements relating to the company, see Practice Note: SIPs—qualifying companies and type of shares. For further detailed information on the SIP eligibility requirements relating to the employee, see Practice Note: SIPs—who can be granted an award? For a checklist...

Discover our 37 Checklists on Disclosure

Evaluating a data subject access request—flowchart

Evaluating a data subject access request—flowchart The UK General Data Protection Regulation (UK GDPR) provides a number of rights for data subjects, including providing a right of access to their personal data. Data subjects can make a request to an organisation to exercise their right of access to their personal data (a data subject access request or DSAR) at any time and there are strict time limits for complying with requests made. See Practice Notes: • Data subject rights—access • How to handle data subject requests This Flowchart maps out a process for evaluating DSARs received under the UK GDPR. It reflects the requirements in the UK GDPR and the Data Protection Act 2018 (DPA 2018) together with guidance issued by the Information Commissioner’s Office (ICO). It should be read in conjunction with Practice Note: How to handle data subject requests and Flowchart: Handling data subject requests—flowchart, which covers requirements common to all data subject requests under the UK GDPR. Note 1—notifying the data subject you...

Maintaining the PSC register—flowchart

Maintaining the PSC register—flowchart View or print a full size PDF version: The flowchart summarises the main steps for a typical company in identifying people with significant control (PSCs) or relevant legal entities (RLEs) so as to update the company’s PSC register and provide details to the Registrar of Companies in relation to the central register. Note however that eligible Scottish partnerships (which are covered by the PSC regime) are not required to keep a PSC register of their own but are only required to deliver PSC information to Companies House for the central register. One of the corporate forms covered by the PSC regime until the end of the Brexit transition period was the Societas Europaea (SE). However any SE still registered in the UK at the end of transition period automatically converted into a UK Societas. For further details on the conversion of SEs to UK Societas see Practice Note: UK Societas. The Economic Crime and Corporate Transparency Act 2023 (ECCTA 2023) received

Discover our 2 Flowcharts on Disclosure

�پ��ǲ��ܰ��—i�Գٰ��ǻ�ܳ��پ��ǲ�

This Practice Note provides an introduction to disclosure under the CPR setting out the CPR provisions governing the disclosure process (eg Part 31), the overriding principles of the disclosure process and how it is generally conducted and regulated. It considers the meaning under the CPR of a ‘document’, the timing of disclosure, including when disclosure should first be considered, the scope of the disclosure exercise, including an introduction to the concepts of standard disclosure, specific disclosure, enhanced disclosure (covering Peruvian Guano or train of enquiry documents) and the stages of the disclosure process. It also provides some practical tips on conducting a disclosure exercise. It does not provide detailed commentary on the disclosure scheme operating in the Business and Property Courts.This Practice Note provides guidance on the interpretation and application of the relevant provisions of the CPR. Depending on the court in which your matter is proceeding, you may also need to consider: Court specific guidance below.You should read this Practice Note in conjunction with:•Disclosure—overview•Inspection—overview•Privilege—overview•Practice Note: Disclosure—technical glossary•Practice Note: How...

Disclosure—collecting documents

This Practice Note sets out what you need to do in relation to collecting documents, including processes which should be put in place with a client to assist in the collection. It does not cover the provisions of the disclosure scheme in the Business and Property Courts. For guidance on such cases, see: Disclosure scheme—overview.What you should already have achievedBy the time you reach the disclosure process, you should have:•started planning disclosure—the benefit of doing this is to allow proper collation and review of all the information available. It should also ensure that you will have sufficient time available if you need to find a solution or agree a strategy in relation to a category of electronic documents you think will be difficult•obtained a good understanding of where and how your client stores its documents, including electronically stored information. See Practice Note: Disclosure—identifying documents. This can be done by use of the electronic documents questionnaire (EDQ) which can operate as a useful checklist, enabling you to make a proposal...

Discover our 411 Practice Notes on Disclosure

Consultancy agreement—company and individual—pro-client (short form)

Consultancy agreement—company and individual—pro-client (short form) [ON HEADED NOTEPAPER OF CLIENT COMPANY] [Insert consultant’s name] [Insert consultant’s address] [Insert date] Dear [insert consultant’s name] [ Consultancy agreement OR Insert name of project ] Further to our recent discussions, I am pleased to confirm the terms of our agreement regarding the provision of your consultancy services to [insert name of client company] (Company). 1 Term 1.1 [Subject to the terms set out in this letter, your engagement [will commence OR commenced] on [insert date] and will continue unless or until either party gives to the other not less than [insert number] [weeks’ OR months’] prior notice in writing. OR 1.2 Your engagement will be for a fixed period of [insert number] months from [insert date], subject to the terms of this letter and subject to the right of either the Company or you to give to the other not less than [number] [weeks’ OR months’] notice in writing during such fixed period terminating the...

Distribution agreement—non-exclusive—short form

Distribution agreement—non-exclusive—short form This Agreement is made on [date] Parties 1 [insert name of party] [of OR a company incorporated in England and Wales under number [insert registered number] whose registered office is at] [insert address] (Manufacturer); and 2 [insert name of party] [of OR a company incorporated in England and Wales under number [insert registered number] whose registered office is at] [insert address] (Distributor); each of the Manufacturer and the Distributor being a party and together they are the parties. Background (A) The Manufacturer manufactures [and supplies] the Products. (B) The Distributor has agreed to distribute the Products on a non-exclusive basis in the Territory in accordance with the provisions of this Agreement. The parties agree: 1 Definitions 1.1 In this Agreement: Active Sales • has the meaning given in Article 8(7) of VABEO; Affiliate • means any entity that directly or indirectly controls, is controlled by, or is in under common control with, another entity where “control” means the beneficial ownership of...

Dive into our 361 Precedents related to Disclosure

A litigant in person has filed a list of documents for disclosure but has not filed a disclosure statement. Does CPR 31.21 apply and is there an automatic sanction for failure to provide a disclosure statement? Can the litigant rely on the documents without permission from the court or have relief from the sanctions?

A litigant in person has filed a list of documents for disclosure but has not filed a disclosure statement. Does CPR 31.21 apply and is there an automatic sanction for failure to provide a disclosure statement? Can the litigant rely on the documents without permission from the court or have relief from the sanctions? Disclosure statement CPR 31.10 sets out the procedure for giving standard disclosure. This requires a party to make a list of documents in the relevant practice form (N265) which includes a disclosure statement (see the annex to CPR PD 31A). CPR 31.10(5) requires a list of documents to include a disclosure statement which should indicate the individual statements listed in CPR 31.10(6): • setting out the extent of the search undertaken to locate documents to be disclosed • certifying that the party giving disclosure understands the duty to disclose documents • certifying to the best of his knowledge he has carried out that duty Unless the parties have agreed in writing that...

Is a Part 20 defendant normally required to complete a directions questionnaire ‘DQ’ (Form N181), does this answer change if the claim would be fast track, but the Part 20 claim multi-track? If the notice of allocation sent to the claimant does not require budgets, disclosure discussion report etc, can you ignore and propose standard directions? Also, outside the disclosure pilot, can one use standard disclosure?

Is a Part 20 defendant normally required to complete a directions questionnaire ‘DQ’ (Form N181), does this answer change if the claim would be fast track, but the Part 20 claim multi-track? If the notice of allocation sent to the claimant does not require budgets, disclosure discussion report etc, can you ignore and propose standard directions? Also, outside the disclosure pilot, can one use standard disclosure? In this Q&A, the defendant’s Part 20 claim is a counterclaim that has been made against a person other than the claimant under CPR 20.5. Is a Part 20 defendant required to file a directions questionnaire? CPR 20 deals with counterclaims and other additional claims by the defendant. CPR 20.3(2) sets out which of the Civil Procedure Rules do not apply to additional claims (which, as defined in CPR 20.2(2) includes counterclaims). Included in the rules that do not apply to additional claims is CPR 26, which sets out the requirement for the parties to file a directions questionnaire (DQ)....

See the 43 Q&As about Disclosure

European Commission consults on revising EU SFDR

The European Commission has launched a call for evidence on revising the Sustainable Finance Disclosures Regulation (EU) 2019/2088 (EU SFDR). The Commission says that the focus will be on addressing undue burdens by simplifying and streamlining requirements. This includes reducing the burden of environmental, social and governance (ESG) reporting for financial market participants, enabling them to focus on the information most meaningful for investors. Responses are sought by 30 May 2025, and the feedback received will inform the development of a proposed regulation scheduled for adoption in the fourth quarter of 2025.

ESMA publishes technical advice as part of Listing Act implementation

The European Securities and Markets Authority (ESMA) has published its technical advice to the European Commission to facilitate the effective implementation of Directive (EU) 2024/2811 (the Listing Act), by advising on the delegated acts to be adopted and amended concerning the Market Abuse Regulation (EU) 596/2014 (EU MAR) and the Markets in Financial Instruments Directive 2014/65/EU (MiFID II). Regarding EU MAR, the advice identifies critical moments for public disclosure during protracted processes, clarifies the circumstances in which delayed disclosure is not permitted, and proposes a methodology under the Cross-Market Order Book Mechanism (CMOB) to pinpoint trading venues with significant cross-border activity. With respect to MiFID II, it examines the criteria for registering multilateral trading facilities and their segments as small and medium-sized enterprise (SME) growth markets.

Read the latest 99 News articles on Disclosure

Top

Trial

��Ӱ��

GLOSSARY