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UK operational resilience鈥攖imeline This timeline shows key developments relating to UK operational resilience requirements for financial services firms from January 2024 onwards. For earlier developments, see: Operational resilience鈥攖imeline [Archived]. 2025 Date Source Document Description 15 April 2025 FSB FSB finalises the common Format for Incident Reporting Exchange (FIRE) The Financial Stability Board (FSB) has published its finalised format for incident reporting exchange (FIRE), which aims to standardise and streamline cyber and operational incident reporting. Developed with private sector collaboration, FIRE addresses fragmentation in reporting requirements across multiple jurisdictions and supports phased implementation. It is interoperable with existing systems and applicable to a wide range of incidents, including those involving third-party service providers. The initiative promotes convergence in cyber incident reporting, reduces the reporting burden for firms, and improves communication among authorities.See: LNB News 15/04/2025 37. 6 March 2025 House of Commons Treasury Committee More than one month鈥檚 worth of IT failures at major banks and building societies in the last two years The Treasury Committee has published data showing...
Public procurement proceedings for opposing debarment in the High Court鈥攃hecklist STOP PRESS: As of 24 February 2025, the main provisions of the Procurement Act 2023 (PA 2023) are in force. Procurements begun on or after this date must be carried out under PA 2023, whereas those begun under the previous legislation (the Public Contracts Regulations 2015 (PCR 2015), the Utilities Contracts Regulations 2016, the Concession Regulations 2016, and the Defence and Security Public Contracts Regulations 2011) must continue to be procured and managed under that legislation. See Practice Note: Introduction to the Procurement Act 2023鈥擯A 2023. PCR 2015 as assimilated law PCR 2015 are EU-derived domestic legislation and therefore assimilated law under sections 2 and 6 of the European Union (Withdrawal) Act 2018. For practical guidance on the status and interpretation of assimilated law, see Practice Note: Assimilated law. This Practice Note sets out the general process by which an economic operator defined as 鈥榓ny person or public entity or group of such persons and entities, including any temporary...
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Development of EU climate change policy Context Humans are increasingly influencing the climate and the earth's temperature by burning fossil fuels, cutting down rainforests and farming livestock. All of this adds enormous amounts of greenhouse gases to those naturally occurring in the atmosphere, increasing the greenhouse effect and global warming. Some gases in the earth's atmosphere act a bit like the glass in a greenhouse, trapping the sun's heat and stopping it from leaking back into space. Many of these gases occur naturally but human activity is increasing the concentrations of some of them in the atmosphere, in particular: 鈥 carbon dioxide (CO2) 鈥 methane 鈥 nitrous oxide 鈥 fluorinated gases CO2 is the greenhouse gas most commonly produced by human activities and it is responsible for the majority of man-made global warming. Other greenhouse gases, such as methane and nitrous oxide, are emitted in smaller quantities, but they trap heat far more effectively than CO2. Rising emissions are caused by: 鈥 burning fossil fuels (ie coal, oil...
Ireland鈥擬ethods of alternative dispute resolution This Practice Note provides an overview and introduction to forms of alternative dispute resolution commonly used to settle disputes in Ireland: direct negotiation, mediation, adjudication, arbitration and conciliation. It provides an overview of the key features of these forms of alternative dispute resolution and the governing legislation, namely, the Mediation Act 2017 (Ireland) (MA 2017 (IRL)), the Construction Contracts Act 2013 (Ireland) (CCA 2013 (IRL)) and the Arbitration Act 2010 (Ireland) (AA 2010 (IRL)). Forms of alternative dispute resolution Alternative dispute resolution (ADR) provides a voluntary alternative to litigation to settle civil disputes. The most popular ADR methods used in Ireland will be well recognised to those practising in other common law jurisdictions: arbitration, mediation, direct negotiation and construction adjudication. The process of conciliation, commonly used in Ireland for the resolution of both employment and construction disputes, will often not be familiar to those who practice elsewhere. There is also modest use of other processes on the ADR spectrum, such as expert determination. Likewise, escalating...
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Special administration鈥攚itness statement in support of application for special administration Applicant [NAME OF WITNESS] First Witness Statement Date: [] Exhibit [XX1] Court Reference No: [INSERT COURT REF. NUMBER] [ IN THE HIGH COURT OF JUSTICE] BUSINESS AND PROPERTY COURTS [OF ENGLAND AND WALES] [IN [INSERT LOCATION]] [COMPANY & INSOLVENCY LIST (ChD)] OR [IN THE COUNTY COURT AT [INSERT LOCATION]] [BUSINESS AND PROPERTY COURTS LIST] OR [IN THE HIGH COURT OF JUSTICE] [CHANCERY DIVISION] OR IN THE MATTER OF [INVESTMENT BANK NAME] AND IN THE MATTER OF THE INVESTMENT BANK SPECIAL ADMINISTRATION REGULATIONS 2011 AND IN THE MATTER OF THE INSOLVENCY ACT 1986 _________________________________________ WITNESS STATEMENT OF [WITNESS NAME] ___________________________________________ I, [witness name], director [and chairperson] of [investment bank name] of [investment bank address] WILL SAY AS FOLLOWS: 1 I am [a director and] [the chairperson] of [investment bank address] with company number [company number] (the Company). The Company is a wholly-owned subsidiary of [insert details], a company incorporated in [location]. It is in...
Precedent s 106A deed of variation/supplemental agreement AGREEMENT relating to Section 106 and 106A of the Town and Country Planning Act 1990 [and [insert other legislation]] in relation to the development at [insert address] This Agreement is made on [insert date] Parties 1 [insert name], of [insert address] ("Council"); 2 [insert name], of [insert address] (鈥淐ounty Council鈥); 3 [insert name], of [insert address] (鈥淥wner鈥); and 4 [ Additional parties as necessary eg landlord, mortgagee, option holder etc. ] ("[insert additional parties as necessary eg landlord, mortgagee, option holder etc] "). Background (A) The Council is the local planning authority for the purposes of s 106 and s 106A of the 1990 Act for the area within which the Land is situated and is capable of enforcing the obligations in the Original Agreement. (B) The County Council is the local highway authority for the area within which the Land is situated and is capable of enforcing the obligations in the Original Agreement. (C) [Recite ownership details...
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What is the difference between 鈥榬elevant connectable products鈥 and 鈥楿K consumer connectable products鈥 under the Product Security and Telecommunications Infrastructure Act 2022? Under the Product Security and Telecommunications Infrastructure Act 2022 (PSTIA 2022), UK consumer connectable products are a subset of relevant connectable products. In order to be a UK consumer connectable product, the product must be a relevant connectable product and satisfy one of the conditions A or B under PSTIA 2022, s 54 (Meaning of 鈥楿K consumer connectable product鈥) which means a relevant connectable product that is or has been made available to consumers in the UK or a relevant connectable product that is or has been made available to businesses in the UK which is identical to a relevant connectable product that is or has been made available to consumers in the UK. The explanatory notes to PSTIA 2022 explain that this ensures that all products that may reasonably be expected to be used by consumers are subject to the same security requirements, even where a particular...
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Welcome to this week鈥檚 edition of the TMT weekly highlights: a hand-picked summary of news analysis, updates and new content from across the technology, media and telecoms sectors. These highlights focus on key topics including new technologies, software, cloud computing, internet, outsourcing, music, film & television, publishing, defamation and telecoms.
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.
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