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Recent Articles

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  04/10/2024

  Europe

  The EU Deforestation Regulation: deferred application, updated guidance and new FAQs

  On 2 October 2024, the European Commission published a proposal for a new legislative act which would defer the application of the recently adopted EU Deforestation Regulation (EUDR) by 12 months, citing the concerns raised by international partners about EUDR and the need to allow them and affected entities additional time to prepare.Separately, the Commission published updated Guidance on the interpretation of some of the key provisions of the EUDR and an updated, lengthy, Frequently Asked Questions document.BackgroundThe EUDR, which is an EU statute designed to ensure that no products or commodities...

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  04/10/2024

  International

  A week in the world of ESG

  A lot can happen over the course of a week in the world of ESG. Since Wednesday 25 September 2024, there have been several important developments in Europe and the US and, while we don’t claim to cover every development, this is a summary of those that have most captured our interest and attention.As ever, please reach out if you would like to discuss any of these areas in more detail.European Commission begins infringement process regarding transposition of the CSRDOn Thursday 26 September 2024, the European Commission (“EC”) announced that it has sent letters to 17 EU Member...

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  03/10/2024

  United Kingdom

  Gambling Commission publishes update to new direct marketing requirements

  On 27 August 2024, the Gambling Commission (the “Commission”) published an update (“Update”) confirming that Social Responsibility Code 5.1.12 (“SR Code 5.1.12”) will be revised following industry feedback. Having also extended the implementation date, gambling operators (the “Operators”) will be required to comply with the new SR Code 5.1.12 from 1 May 2025.BackgroundIn May 2024, the Commission published its response to a consultation (the “Consultation”) on proposed changes to the Licence Conditions and Codes of Practice (the “LCCP”)...

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  03/10/2024

  United Kingdom

  Tenders Regulations for Early Competition: another piece of the jigsaw

  Ofgem have published a consultation on their proposed Electricity (Early-Model Competitive Tenders for Onshore Transmission Licences) Regulations 2024 which are aimed at promoting Early Competition in onshore transmission.We have previously written about the Early Competition model, commenting on the Regulations introduced earlier this year to establish the criteria that onshore electricity transmission projects must meet in order to be eligible for Early Competition here. Those Regulations came into force on 12 March 2024. The latest draft Electricity (Early-Model Competitive Tenders...

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  02/10/2024

  International

  Taskforce on Inequality and Social-related Financial Disclosures launched

  On 23 September 2024, the Taskforce on Inequality and Social-related Financial Disclosures (“TISFD”) was launched.The TISFD, which has been launched to bring attention to the financial risks presented by inequality and other social-related issues to companies and financial institutions (“FIs”), has said that it will develop a global framework for companies and FIs to include more effective disclosures about impacts, dependencies, risks and opportunities related to social issues in their public reporting.Yet another disclosure framework?Standardised, measurable reporting...

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  02/10/2024

  United Kingdom

  Prosser v Ricketts and single assessment/small business relief

  Small Business Rates relief entitles a ratepayer occupying a hereditament with a rateable value of not more than £12,000, to a 100% reduction in their rates bill.  Therefore, for a small business owner, or the occupier of a smaller hereditament, it is a valuable form of relief.In Prosser v Ricketts a barristers’ Chambers brought an appeal before the Upper Tribunal arguing that the rooms occupied by the individual members of Chambers were not part of a single hereditament but a number of individual hereditaments which qualify for small business rates relief.The appeal premisesThe...

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