European Economic Area (EEA) definition

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EU EMIR—timeline

EU EMIR—timeline This timeline shows key developments relating to Regulation (EU) 648/2012 (EU EMIR) from January 2024 onwards. For earlier developments, see European Market Infrastructure Regulation (EMIR)—timeline [Archived]. 2025 Date Source Document Description 8 April 2025 ESMA ESMA consults on clearing thresholds under EMIR 3 The European Securities and Markets Authority (ESMA) has published a consultation paper on new clearing thresholds under the review of the European Market Infrastructure Regulation (EU) 2024/2987 (EMIR 3) —part of ESMA's mandate to develop regulatory technical standards (RTS) on clearing thresholds. The paper seeks input on revised clearing thresholds, hedging exemptions for non-financial counterparties, and a trigger mechanism for reviewing the thresholds. The focus is on a revised clearing threshold methodology on the activity in over the counter (OTC) derivatives not cleared at an authorised or recognised central counterparty (CCP). The aim is to ensure a proportionate clearing obligation regime for entities with significant OTC derivatives activity and large uncleared positions. Responses are due by 16 June 2025, with a final report...

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The Local Government Pension Scheme—admission agreements

The Local Government Pension Scheme—admission agreements FORTHCOMING DEVELOPMENT: The Ministry of Housing, Communities and Local Government consulted in May 2016 on the introduction of greater pensions protection for employees of the Local Government Pension Scheme (LGPS) who are compulsorily transferred to service providers. In doing so, it was proposed that the option to provide transferring staff with access to a broadly comparable scheme should be removed. The government response of 19 April 2018 confirmed a commitment to introduce the strengthened  Fair Deal in the LGPS but noted that respondents to the 2016 consultation had raised a number of concerns regarding the proposed approach. There was a subsequent consultation in January 2019 on amendments to the Local Government Pension Scheme Regulations 2013 to order to give transferred staff a continued right (in most cases) to membership of the LGPS as set out in the draft Local Government Pension Scheme (Amendment) Regulations 2019 (contained in Annex A of the consultation document). On 8 September...

Ireland—Commercial horizon scanner 2025

Ireland—Commercial horizon scanner 2025 This Practice Note provides a summary of the key legal developments that are expected to impact Irish commercial lawyers during 2025 and beyond. It also summarises the key developments which have already taken place in 2025. This Practice Note does not cover developments in the EU, for EU commercial legislative and regulatory developments, see: Trackers (EU Law)—overview. Feel free to suggest issues that may be covered in our horizon scanner using: irelandcurrentawareness@lexisnexis.com. Bills This section contains information on the progress of Irish government bills and private members bills relevant to commercial practitioners from proposal to the passage of the bills as they pass through both houses of the Oireachtas—Dáil Éireann and Seanad Éireann—before being signed into law by the President. Bill title Next/last key date Analysis Further material Forty-first Amendment of the Constitution (Agreement on a Unified Patent Court) Bill 2024 19 February 2025 This Bill is currently before the Seanad Éireann, third stage. The Bill will seek to amend Article 29 of the Constitution...

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Privacy notice for trustees—UK GDPR compliant

Privacy notice for trustees—UK GDPR compliant We take your privacy very seriously. Please read this privacy notice carefully as it contains important information on who we are and how and why we collect, store, use and share your personal data. It also explains your rights in relation to your personal data and how to contact us or supervisory authorities in the event you have a complaint. We collect, use and are responsible for certain personal data about you. When we do so we are subject to the UK General Data Protection Regulation (UK GDPR). [We are also subject to the EU General Data Protection Regulation (EU GDPR) in relation to individuals [and our wider operations ]in the European Economic Area (EEA)]. Key terms It would be helpful to start by explaining some key terms used in this notice: We, us, our [Insert full legal name of all the trustees or, if the trustees are a professional firm, insert the firm’s name (if acting...

Personal data processing provisions—pro-controller

DRAFTING FOR BREXIT: For the latest information on the impact of Brexit on the drafting, negotiation and enforceability of this Precedent, see Practice Notes: Brexit—implications for data protection, Brexit—drafting boilerplate clauses and Brexit—drafting commercial clauses. Definitions [In this Agreement:] Applicable Law means: (a) any law, statute, regulation, byelaw or subordinate legislation in force from time to time to which a party is subject and/or in any jurisdiction that the Services are provided to or in respect of; (b) the common law and laws of equity as applicable to the parties from time to time; (c) any...

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HMRC newsletter outlines pension scheme legal changes and deadlines for 2025

HM Revenue & Customs (HMRC) has announced in Newsletter 169 that application deadlines for fixed protection 2016, individual protection 2016, and pension credit enhancements have now passed, as detailed in Finance Act 2024. From 6 April 2025, European Economic Area (EEA) pension schemes must meet the same overseas pension schemes (OPS) and recognised overseas pension schemes (ROPS) conditions as non-EEA schemes. EEA qualifying recognised overseas pension schemes (QROPS) must confirm compliance by 7 May 2025 or lose their status. The newsletter also confirms the pension scheme return is now available on the Managing pension schemes service for the 2024-25 tax year.