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Details of updates to HMRC import, export and customs guidance for the period from 25 to 31 March 2025.
Private Client analysis: This is a landmark decision of the Supreme Court on the liability of trustees and other fiduciaries to account for unauthorised profits. The issue concerns the role of causation and whether a counterfactual should be applied. Written by David Halpern KC, King’s counsel, 4 New Square.
The Broadcast Committee of Advertising Practice (BCAP) has published a statement, announcing updates to section 14 of the UK Code of Broadcast Advertising (BCAP Code), following a public consultation. The changes clarify that existing restrictions on advertisements for unregulated investments to specialised financial channels and programming will apply to unregulated products that meet the likely consumer understanding of an ‘investment’. These changes take effect immediately, with BCAP intending to review the amended rules after 12 months.
The Competition and Markets Authority (CMA) has published its annual plan for 2025-26, outlining how it will implement its new powers under the Digital Markets, Competition and Consumers Act 2024, SI 2024/1243. It outlines how the CMA will use its new powers to enhance consumer confidence by supporting business compliance and addressing poor corporate practices, as well as ensuring fair competition and returning money to consumers. The plan reflects the government's draft strategic steer emphasising economic growth while maintaining the CMA's core competition and consumer protection functions.
Scotland—the process for applying for sequestrationSequestration in Scotland is the legal process by which an insolvent debtor’s estate is gathered in, realised and then distributed among their creditors by a trustee appointed for that purpose. The process requires that a formal award of
Micklefield clausesWhat is a Micklefield clause?It is common for employee share plans to provide that, on termination of employment (or when an employee is given or receives notice of termination of employment), subsisting share awards will be forfeited and subsisting share options will lapse.It is
Financial clean break orders in family proceedingsDuty of the court to consider a clean breakAlthough there is no presumption in favour of there being a financial clean break between parties on divorce, the court is under a duty to consider whether it would be appropriate to exercise its powers so
Brussels I (recast)—domicile (Arts 4 and 63) [Archived]ARCHIVED: This Practice Note has been archived and is not maintained.This Practice Note considers the general rule set out in Article 4 of Regulation (EU) 1215/2012, Brussels I (recast) when determining the relevance of a defendant’s domicile to
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