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The Agenda

Issue 17: March 2025

The Agenda

Editor's note

Saul Sender - Mishcon de Reya

The staged implementation of UK company law reform continues, and in our March issue of the Agenda we highlight some of the key upcoming changes, the most significant of which is compulsory identity verification for directors and PSCs. The package of reforms also includes changes to the Register of Overseas Entities holding UK properties to allow access to previously protected trust information and the introduction of a new corporate offence of "failure to prevent fraud".

In our December issue of the Agenda, we discussed the Government's commitment to legislating for the Private Intermittent Securities and Capital Exchange System (PISCES). In this issue, we take a look at the FCA's draft regulatory framework for PISCES.

In regulatory news, we discuss the recent welcome clarification that cryptoasset staking arrangements will not fall within the scope of the Collective Investment Scheme rules.  We report on the Government's key findings in its first statutory review of the National Security and Investment Act's mandatory notification regime. We also examine the potential implications for the Cleantech sector of the new US administration's policies.

We are delighted to invite you to our first annual Cambridge In-House Counsel Day, which will take place on Thursday 27 March 2025. We would also like to take this opportunity to introduce our new Energy and Resources practice group.

News
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Clarity on cryptoasset staking

On 9 January 2025, the Government introduced the Financial Services and Markets Act 2000 (Collective Investment Schemes) (Amendment) Order 2025/17 (the Order) which has been laid before Parliament, along with the Order's explanatory memorandum.

News
White london property

Offshore trusts holding UK land – trusts information to be available on application

The UK's Register of Overseas Entities (ROE) regime will be updated next year to give Companies House the power to grant, on application, access to trust information that is currently recorded on the ROE but restricted from public inspection. In this briefing we discuss the key changes and consider the wider implications for land ownership involving trusts.

News
ground view of corporate buildings

Corporate fraud: Fail to prepare, fail to prevent

Following an announcement from the Home Office the new corporate criminal offence of failure to prevent fraud will come into force on 1 September 2025. On 6 November 2024 new guidance was published to assist relevant companies navigate the new offence and the prevention procedures to be implemented so that criminal liability can be avoided.

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Companies House reform next steps: ID verification coming soon

As part of its commitment to deter the use of corporate entities for illegal purposes, Companies House is introducing new identity verification requirements for directors, people with significant control (PSCs) and persons filing documents on behalf of companies. Individuals will soon be able to verify their identities voluntarily – doing so early will allow them to get ahead of mandatory verification and avoid situations down the line where, for example, a director is unable to act or a Companies House filing cannot be made. Once identity verification is mandatory, it will be an offence for a director to act without having had their identity verified.

News
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How will the new US administration's policies impact Cleantech?

While the new US administration's actions suggest a concerted effort to roll back the Inflation Reduction Act (IRA) and support for Cleantech more generally, the complex legislative process and existing state-level initiatives may buffer the Cleantech sector from the full extent of these changes. This article examines the potential implications for the Cleantech sector from an investor's perspective.

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Energy and Resources

Our dedicated Energy and Resources group delivers comprehensive legal solutions across the spectrum of energy and resources activities. Our expertise spans traditional energy sectors, as well as the dynamic and evolving renewables and clean energy sectors, and associated natural resources for new energy technologies.

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In-House Counsel Day 2025

We are delighted to invite you to our first annual Cambridge In-House Counsel Day event, hosted at our Cambridge offices on Thursday 27 March 2025.

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