Research Briefing
All firms undertaking sale and rent back agreements now have to be authorised by the FSA, so giving consumers greater protection. A key feature of the full regime will be that all consumers who undertake a sale and rent back agreement will have a guaranteed minimum tenancy of five years.
Research Briefing
This Paper is a summary of many of the financial services legislative initiatives announced by the EU in the immediate aftermath of the financial crisis in 2008/9.
Research Briefing
This note sets out the economic and public finance background to the 2010 Budget.
Research Briefing
The purpose of the Bill is to amend existing legislation governing the relationship between insurers and claimants, with specific regard to 'third parties', to make it easier and less expensive to claim compensation from insolvent defendants. Current legislation dictates that claimants must establish an insolvent defendant's liability before bringing a separate claim against their insurer. The Bill would enable claimants to sue the insolvent defendant's insurer directly, without having to sue the wrongdoer first. The Bill's provisions are largely uncontroversial, and have widespread support from the majority of stakeholders.
Research Briefing
This note explains the Government's approach to rural transport.
Research Briefing
BAE Systems was accused of corruption, specifically making bribes, in regard to the Al Yamamah arms agreement with the Saudi Arabian Government. This was investigated by the Serious Fraud Office (SFO) following the leaking of a letter from the then Director of the SFO to the former Permanent Secretary at the Ministry of Defence. The SFO discontinued its inquiry in December 2006, citing the need to safeguard national and international security, a move which was supported by the then Prime Minister, Tony Blair. A legal challenge that the SFO's decision was unlawful was not successful. In addition to the allegations surrounding Al Yamamah, parallel SFO investigations were also conducted into a number of other BAE defence contracts in South Africa, Chile, the Czech Republic, Romania, Tanzania and Qatar. In February 2010, BAE Systems reached a settlement with the US Department of Justice (DoJ) to plead guilty of conspiring to make false statements to the US Government in connection with certain regulatory filings and undertakings, including the Al Yamamah agreement as well as contracts with the Hungarian and Czech governments. In March 2010, BAE Systems pleaded guilty to conspiring to defraud the United States by impairing and impeding its lawful functions, to make false statements about its Foreign Corrupt Practices Act compliance program, and to violate the Arms Export Control Act and International Traffic in Arms Regulations. It was given a $400 million fine and agreed to take measures in order to stay within US and foreign laws concerning corruption and the exports of arms. The company also agreed to retain an independent compliance monitor for three years to assess its compliance program and to make a series of reports to the company and the DoJ. This Standard Note is referred to in the Research Paper, The Bribery Bill (RP 10/19).
Research Briefing
The Bill would establish an independent ombudsman for the grocery market to oversee the operation of the Groceries Supply Code of Practice. It would provide for the Office of Fair Trading (OFT), within three months of the Bill's enactment, to establish the Office of the Grocery Market Ombudsman and a person as the Grocery Market Ombudsman. Although funded by the OFT, the Ombudsman would be independent of it and would investigate complaints or disputes referred by the OFT, retailers or suppliers. The Ombudsman's determination would be final and binding on all parties and they would have the power to impose monetary penalties and/or costs.
Research Briefing
This Note brings together documents relevant to the "Services Directive", its scrutiny in the UK and EU, and its implementation in the UK.
Research Briefing
This Research Paper series summarises the main economic indicators currently available for the UK, along with comparisons with other major countries. [Article: 'The budget deficit and the economic cycle']
Research Briefing
The purpose of the Bill is to provide a modern and comprehensive scheme of bribery offences to equip prosecutors and courts to deal effectively with bribery in the UK and abroad. It replaces old and fragmented legislation with a modern and consolidated bribery law. The Bill creates offences of offering, promising or giving of a bribe and requesting, agreeing to receive or accepting of a bribe either in the UK or abroad, in the public or private sectors. It also creates a discrete offence of bribery of a foreign public official in order to obtain or retain business, and a new offence in relation to commercial organisations which fail to prevent a bribe being paid by those who perform services for or on behalf of the organisation.
Research Briefing
This note sets out the conclusions of the 2006 Eddington study into transport and the economy and subsequent responses to it.
Research Briefing
This note looks at contemporary assessments of the investment needed to upgrade the London Underground, some of the proposals consequently put forward to bring this about and the Labour Government’s final decision to fund future development with a Public Private Partnership (PPP).
Research Briefing
The Bill seeks to limit the amount that can be recovered by any commercial creditor of those countries designated as having unsustainable external debts. The legislation would restrict the activities of so-called 'vulture funds', which buy developing countries' sovereign debt at discounted prices, then seek to recover its value in full through the courts. It would limit successful claims to an internationally agreed level and apply equally to all commercial creditors. It would cover the 40 countries in the IMF/World Bank Heavily Indebted Poor Countries (HIPC) initiative. Debts incurred after the Bill's entry into force would be excluded.
Research Briefing
This note sets out European policy on shipping since the 1980s and the UK Government's views on it.
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