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View the related checklists about Due diligence

Considerations and next steps for victims of fraud—checklist

Considerations and next steps for victims of fraud—checklist This Checklist is designed to assist individuals and companies who suspect they have been a victim of fraud. It considers the immediate steps they should take to gather and preserve evidence, obtain legal advice, mitigate and reduce risk and obtain emergency or urgent relief (such as freezing orders and insurance cover), including whether it is necessary to report a suspected fraud to the police and how to do so using the Action Fraud service. It also addresses the choice between issuing civil and criminal proceedings for fraud and explains the possibility of running a civil fraud claim in parallel with a criminal prosecution (private or public). This Checklist should be read in conjunction with the Practice Notes: • Starting a civil fraud claim—a practical guide • Civil fraud—heads of claim • Civil fraud—frequently asked questions (FAQ) • Commencing criminal proceedings—applying for the issue of a summons • Fraud—civil claim and private criminal prosecution compared For full guidance on fraud offence under criminal...

Rights of light—identifying provisions in leases—checklist

Rights of light—identifying provisions in leases—checklist This Checklist sets out which clauses in a lease and other relevant documents should be reviewed to determine whether a right of light exists. A right of light is an easement that entitles a landowner to receive natural light through an aperture in a building on its property. The owner of the land that is burdened by the right of light (the 'servient Building') cannot interfere with it without consent. On any proposed development it is therefore necessary to identify any neighbouring properties potentially enjoying a right of light (the 'dominant Building'). For further information regarding rights of light, see the following Practice Notes: • Establishing and maintaining rights of light • Rights of light—obstruction notices • Rights of light claims • Rights of light—insurance for developers Section 2 of the Prescription Act 1832 (PA 1832) requires actual enjoyment of light, which means that a right of light can be acquired for their own benefit and in their own right by those with a...

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Client due diligence process workflow

Client due diligence process workflow This Flowchart suggests a workflow for the practical steps and factors you should consider when conducting an appropriate level of client due diligence (CDD). You can refer to this whenever you are taking on a new client or matter. It is intended to help you comply with the CDD requirements of the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017, as amended. This workflow dovetails with the New client, New matter, CDD client risk assessment and CDD matter risk assessment form Precedents in the Client and matter inception subtopic. Other precedents Other Precedents that may be of use include: • CDD client risk assessment form—law firms • Explanatory notes—CDD client risk assessment—law firms • CDD matter risk assessment form—law firms • Explanatory notes—CDD matter risk assessment—law firms • New client form • New matter

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Due diligence—share and asset purchases

This Practice Note provides an overview of the purpose, nature and scope of the due diligence process that is carried out by a potential buyer prior to the acquisition of shares in a private limited company or the acquisition of a business and its assets (the target).Purpose and initial considerations for the buyerPurpose of due diligenceThe starting point for a buyer in any share or asset purchase transaction is the maxim caveat emptor (let the buyer beware). Since the seller is under no duty to disclose to the buyer any defects in, and liabilities of, the target, the buyer will always need to conduct its own investigations. It will therefore instruct advisers to conduct due diligence (whether commercial, legal, tax, financial or otherwise) and prepare due diligence reports to highlight material issues arising from their review exercise.From the buyer’s perspective, the purpose of due diligence is risk management. With the information obtained about the target as a result of due diligence investigations, the buyer can:•make an informed decision as to...

Consumer protection from unfair trading

This Practice Note summarises the law, guidance and practice in relation to protecting consumers from unfair trading. It reviews the key aspects of the Consumer Protection from Unfair Trading Regulations 2008, SI 2008/1277 (CPUTR 2008)—in particular the unfair commercial practices of misleading actions, misleading omissions, aggressive practices and blacklisted practices, and it considers the changes that the Digital Markets, Competition and Consumers Act 2024 (DMCCA 2024) will bring about. This Practice Note also briefly considers the criminal offences created by the CPUTR 2008, enforcement and the private right of redress.The DMCCA 2024In July 2021, BEIS, now the Department for Business and Trade, launched a consultation on reforming competition policy, consumer rights and consumer law enforcement. Key proposals in the consultation included:•updating consumer rights by tackling subscription traps, preventing online exploitation of customers through fake reviews, and creating better prepayment protections•reforming the enforcement of consumer law by giving stronger powers to enforcers—including financial penalties, supporting customers and traders to resolve disputes independently, tackling rogue traders by helping local authority trading standards to impose...

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Property due diligence report—share or asset purchase

Property due diligence report—share or asset purchase A. Executive summary 1 Scope of review For the purposes of this report we have reviewed the following properties [insert details of the properties], (the ‘Properties’). 2 Basis of the review 2.1 Information relating to the Properties for the purposes of conducting our due diligence exercise and preparing our report has been sourced from the following: 2.1.1 documents provided in the due diligence [data room OR files] as set out in the index in Schedule...

Property due diligence questionnaire for share or asset purchases

Property queries to be included in a due diligence questionnaire for an asset or share purchase Real property 1   1.1 Please provide details of all properties owned, occupied or used [by any Group Company OR in connection with the Business] (the Properties), including whether freehold or leasehold. 1.2 In respect of the Properties, please provide the following information: 1.2.1 full address; 1.2.2 approximate size of site and total size of buildings; 1.2.3 legal owner; ...

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How might the European Commission proposal for new conflict of law rules for assigned claims impact the secondary loan market?

How might the European Commission proposal for new conflict of law rules for assigned claims impact the secondary loan market? Summary This Q&A refers to the European Commission’s proposal for a Regulation on the law applicable to the third-party effects of assignments (the Proposal) published on 12th March 2018, which could have an impact on the market for trading participations in syndicated and bilateral loans. Both of the Loan Market Association (LMA) and the City of London Law Society made representations asking for the Proposal to be shelved or at least amended to accommodate current market practice in the secondary loan market. Their representations are available on their respective websites. It is fair to say that in its original form the Proposal would have disrupted the secondary loan market by making due diligence on the part of a buyer much more complicated for the reasons given below. The UK indicated on 9 July 2018, shortly after publication of this Q&A, that it would not opt in...

Is an introducer an associated person for the purpose of tax evasion facilitation prevention—law firms?

Is an introducer an associated person for the purpose of tax evasion facilitation prevention—law firms? What is the issue? The Criminal Finances Act 2017 (CFA 2017) created a new corporate offences of failure-to-prevent facilitation of tax evasion. Your firm can be held liable for this corporate offence if a person acting in the capacity of an associated person criminally facilitates a tax evasion offence. The definition of associated person is broad and can embrace a wide range of business relationships: • an employee who is acting in the capacity of employee • an agent (other than an employee) who is acting in the capacity of an agent, and • any other person who performs services for or on behalf of the firm who is acting in the capacity of a person performing such services—questions as to whether a person is performing services for or on behalf of a firm will be determined by reference to all relevant circumstances, not merely the nature of the relationship, contractual status or label...

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LSTA and LMA release updated ESG due diligence questionnaire for investment managers

The Loan Syndications and Trading Association (LSTA) and the Loan Market Association (LMA) have jointly issued an updated version of their ESG Due Diligence Questionnaire (DDQ) for investment managers. The revised questionnaire enhances alignment with global standards, incorporating questions from the UN PRI DDQ for Private Debt Investors to streamline ESG reporting and promote industry convergence.

Environment weekly highlights—17 October 2024

This week's edition of Environment weekly highlights includes: news analysis on South Lakeland Action on Climate Change—Towards Transition v Secretary of State for Levelling Up, Housing and Communities, in which permission for a proposed ‘net zero’ coal mine was quashed. Friends of the Earth has also confirmed this week that West Cumbria Mining have missed the deadline to appeal the decision. In addition, this week Dan Corry, has been appointed to conduct an internal review of the regulation and regulators within the Department for Environment, Food and Rural Affairs (Defra), the Department for Business and Trade (DBT) has launched a consultation on the development of a new Industrial Strategy, the UN Climate Change (UNCC) has announced the publication of two key standards to operationalise a new UN crediting mechanism ahead of COP29. Further, the Office for Environmental Protection (OEP) has published a report on the drivers and pressures affecting nature in Northern Ireland. DESNZ has published the response to its consultation on the climate change agreement scheme and Defra has...