LMA September Monthly Update
For the latest legal & regulatory news, regulatory submissions, briefing notes and upcoming LMA events.
LMA responds to HMRC Consultation on Deduction of income tax from savings income: implementation of the Personal Savings Allowance
The LMA has responded to the HMRC consultation document 'Deduction of income tax from savings income: implementation of the Personal Savings Allowance' published on 15 July 2015. The LMA have chosen to focus on the non-TDSI interest aspects of the proposals which would potentially affect our members, in particular the obligation to deduct income tax from payments of yearly interest between corporate entities.
LMA Guidance in relation to sanctions
Given the abundance of recent sanctions legislation that lenders are currently being required to comply with, it is important that members are aware not only of what those requirements are, but also their impact on loan transactions. In order to assist its members with understanding their compliance obligations generally and the impact of EU and US sanctions on loan transactions, the LMA has produced five types of guidance notes to date.
Changes to the SRA's approach to Continuing Professional Development
The Solicitors Regulation Authority (SRA) has made changes to its approach to Continuing Professional Development (CPD) and has introduced a new approach to assessing continuing competence.