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It's Cocoa, Jim, but not as we know it: Court's modern interpretation of underwriters' and brokers' duties #3 - A broker's harsh reality

Published on 19 Apr 2021. By Tim Bull, Partner and Matthew Wood, Senior Associate

This is the third article in our series following the decision in ABN Amro Bank N.V. v Royal & Sun Alliance Insurance plc and 13 Underwriters and Edge Brokers (London) Limited, in which RPC acted for Edge. Please click here for our first article, setting out a more detailed background to the case.

It's Cocoa, Jim, but not as we know it: Court's modern interpretation of underwriters' and brokers' duties #2 – The underwriters defence

Published on 09 Apr 2021. By Tim Bull, Partner and Matthew Wood, Senior Associate

A modern show of the historic defence strategy at its worst, or should that be best? We'll let you decide.

Company Top Guns may face HMRC investigation

Published on 01 Apr 2021. By James Wickes, Partner

HMRC clamping down on furlough fraud by companies in Danger Zone

Law Society undertakes largest ever law firm intervention in Hong Kong

Published on 31 Mar 2021. By Carmel Green, Partner

It's Cocoa, Jim, but not as we know it: Court's modern interpretation of underwriters' and brokers' duties #1 - An overview of the case

Published on 30 Mar 2021. By Tim Bull, Partner and Matthew Wood, Senior Associate

In this series of articles we take a look at the decision in ABN Amro Bank N.V. v Royal & Sun Alliance plc and 13 Underwriters and Edge Brokers (London) Limited. In this article we give an overview of the case. The remaining articles will focus on particular areas of the case, these will be: 1. Underwriters' duties 2. Brokers' duties 3.Witness evidence

Stamp Duty Holiday. Not a "holiday" for conveyancers.

Published on 24 Mar 2021.

In an attempt to prevent the housing market from stalling during the COVID 19 pandemic, a stamp duty holiday was announced for all residential purchases under £500,000 between 8 July 2020 and 31 March 2021.

BEIS issues White Paper: D&O perspective

Published on 19 Mar 2021.

The Department for Business Energy and Industrial Strategy (BEIS) has today released its White Paper, setting out its proposals for audit reforms and corporate governance, entitled "Restoring trust in audit and corporate governance".

SPACs Invaders – Implications for D&O insurers

Published on 12 Mar 2021.

The EU's former Financial Services Commissioner, Lord Hill, has delivered the anticipated UK Listing Review which contains recommendations for reform of the UK's current listing regime. This included changes to listing rules with a focus, amongst other things, on special purpose acquisition vehicles (SPACs). SPACs are more flexible than formal IPOs and are used to raise capital in order to merge with/acquire another company. In the US, commentators predict an increase in securities claims involving SPACs, so this development is potentially relevant to London market D&O insurers.

800 DB Transfer complaints to the FOS: A 44% increase in one year

Published on 01 Mar 2021.

The FOS have seen the number of complaints relating to defined benefit transfer advice increase by 44% since 2019. However, the proportion of decisions being upheld appears to have fallen.

GameStop – a game of chicken?

Published on 04 Feb 2021. By Sally Lord, Knowledge Lawyer Manager

The race to purchase shares in ailing American video game retailer, GameStop, has taken the investment world by storm over the last week, with amateur traders waging war on professional hedge funds.

SMCR: an effective deterrent?

Published on 05 Nov 2020. By Shauna Giddens, Associate

The Senior Managers & Certification Scheme (SMCR) was introduced in early 2016 to establish "effective governance in firms by encouraging greater individual accountability". However, following a response to a recent Freedom of Information (FOI) request, questions have been raised as to its effectiveness as a deterrent.

Part 36: avoid a storm, use the form!

Published on 23 Sep 2020. By Harriet Keltie, Senior Associate and Will Sefton, Partner and Head of the Lawyers Liability and Regulatory Group

Pepperall J's impressively clear judgment in Essex County Council v UBB Waste (2020) makes it abundantly clear that, when it comes to Part 36 Offers, the rules are strict. If litigants wish to reap the significant rewards of this regime, the price they must pay is to ensure they (or their solicitors) follow the rules on how offers should be made.

A Warning to Architects to be Smart about their Social Media

Published on 11 Sep 2020. By Emma Wherry, Senior Associate and Laura Sponti, Associate

The Architects Registration Board has recently erased Peter Kellow from the register of architects as a result of a racist post on his Facebook which was publicly visible.

Invest in due diligence for dubious schemes

Published on 26 Aug 2020. By Claire Revell, Partner

The SRA provides updated guidance for firms to avoid becoming involved in dubious investment schemes.

Reflective loss in claims against solicitors and accountants after Marex

Published on 14 Aug 2020. By Nick Bird, Partner and Laura Stocks, Partner

The so called "rule against reflective loss" has been clarified in an important decision handed down by the Supreme Court in Marex Financial Ltd v Sevilleja [2020] UKSC 31.

Where there's a will there's a remote possibility of a way

Published on 03 Aug 2020. By Simon Love, Senior Associate and Will Sefton, Partner and Head of the Lawyers Liability and Regulatory Group

In the face of the global COVID-19 pandemic the government has acted to change the law to allow wills to be witnessed remotely.

Is more co-operation the new normal?

Published on 07 Jul 2020. By Jonathan Wyles, Of Counsel

What keeps you as a lawyer awake at night during the coronavirus pandemic? The list is likely to be very long and the fear of making a mistake will be close to the top. Help may come from some unexpected quarters such as the Courts.

Relief from sanction: claimant being forced to pursue his solicitors for negligence is not desirable

Published on 23 Jun 2020. By Aimee Talbot, Knowledge Lawyer and Will Sefton, Partner and Head of the Lawyers Liability and Regulatory Group

A recent High Court decision demonstrates a common-sense, realistic approach to relief from sanctions. Solicitors might have become used to judges, when striking claims out, reassuring the claimant that they can always sue their solicitors for negligence. In a welcome judgment, Mr Justice Fancourt reversed a decision to refuse relief from sanction.

The Solicitors Disciplinary Tribunal: new rules, new game?

Published on 05 May 2020. By Graham Reid, Partner

There are few things that strike fear into the heart of a solicitor more than the prospect of being sent to the Solicitors Disciplinary Tribunal. This article looks at its new rules of procedure.

COVID-19: The suspension of wrongful trading provisions and a moratorium for businesses in restructuring: what is the likely impact on Insurers?

Published on 27 Apr 2020.

On 28 March 2020 the Business Secretary announced further new far-reaching measures to help businesses combat the financial impact of COVID-19.

Judicial guidance on listing of hearings remotely

Published on 22 Apr 2020. By Rhian Howell, Partner & Head of Office, Bristol and Aimee Talbot, Knowledge Lawyer

Senior judges have issued guidance to the judiciary on listing hearings in light of the current coronavirus situation. This gives litigants some clues as to how the court will approach upcoming hearings.

Disciplinary investigations against architects #4 - investigations panel stage

Published on 14 Apr 2020. By Sarah O'Callaghan, Senior Associate

Further to our previous three articles which provided (1) an overview of the Architect Registration Board's disciplinary process and (2) a review of the complaints stage (3) the review stage, this article explains the next stage of a disciplinary investigation against an Architect: the investigations panel stage.

Disciplinary investigations against architects #4 - investigations panel stage

Published on 14 Apr 2020. By Sarah O'Callaghan, Senior Associate

Further to our previous three articles which provided (1) an overview of the Architect Registration Board's disciplinary process and (2) a review of the complaints stage (3) the review stage, this article explains the next stage of a disciplinary investigation against an Architect: the investigations panel stage.

Insurance broker E&O exposures: COVID-19

Published on 26 Mar 2020.

As insurers brace themselves for large volumes of notifications across all lines of business relating to Coronavirus disease 2019 (COVID-19) we expect to see a second wave of E&O notifications by insurance brokers when policyholders (businesses and individuals) find themselves without adequate cover for losses relating to the pandemic. Some insurers are already seeing a spike in such notifications.

Lost chances à la Moda

Published on 04 Jun 2019. By Graham Reid, Partner and Nick Bird, Partner

Lost chance case-law has come a long way since the ground-breaking decision in Allied Maples. One of its more interesting offshoots is the case of Moda International Brands Ltd v Gateley LLP & Anor. Moda is required reading for any firm of solicitors who wants to defend a lost chance claim arising from its transactional work for a claimant.

A level playing Field?

Published on 31 Aug 2017. By David Allinson, Partner

Frank Field's Work and Pensions Select Committee is intending to review the impartiality of defined benefit pension transfer advice. What could this mean for the advisory industry and its PI insurers?

Financial Services: Minimising Risk in a Dawn of Opportunity

Published on 12 Nov 2014. By Simon Laird, Global Head of Insurance

Over the last few years, firms have been asking themselves how they will make money in the post RDR world.

FCA approves 'independent' use of internal specialist advisers

Published on 17 Oct 2014. By Sarah Dowding, Senior Associate

Ever since RDR 'independence' rules were introduced nearly two years ago, financial advisers have sought clarification on referring clients to internal specialists within their firm for expert advice.

CMA investigates Ticketmaster for dynamic pricing of Oasis tickets

Published on 10 Dec 2024. By Oliver Bray, Senior Partner and David Cran, Partner, Head of IP & Tech

Can dynamic pricing breach consumer protection rules?

CMA publishes guidance for fashion retailers on environmental claims

Published on 10 Dec 2024. By Oliver Bray, Senior Partner and David Cran, Partner, Head of IP & Tech

How best can fashion retailers protect themselves from regulatory action when making green claims?

CJEU rules on pricing display strategies of Aldi Süd

Published on 10 Dec 2024. By Oliver Bray, Senior Partner and David Cran, Partner, Head of IP & Tech

European consumer body challenges in-game premium currencies

Published on 10 Dec 2024. By Oliver Bray, Senior Partner and David Cran, Partner, Head of IP & Tech

When does the use of in-app and in-game premium currencies pose consumer regulatory issues? Does this consumer complaint herald a tightening by the EU on revenue streams for game and app developers and platforms?

UK pricing practices in the spotlight

Published on 10 Dec 2024. By Oliver Bray, Senior Partner and David Cran, Partner, Head of IP & Tech

What should businesses take note of recent amendments to the UK’s Price Marking Order and the CMA’s newly published report on loyalty pricing?

News Flash: Timeline for the Digital Markets, Competition and Consumers Act

Published on 10 Dec 2024. By Oliver Bray, Senior Partner and David Cran, Partner, Head of IP & Tech

On 24 May 2024, the UK’s Digital Markets, Competition and Consumers Act (DMCCA) received Royal Assent.

A new era for sustainability consumer products: the EU’s new Ecodesign for Sustainable Products Regulation (ESPR)

Published on 20 Nov 2024. By Sophie Tuson, Senior Associate, Environment and Climate Change Practice Lead and Sophie Parkinson, Associate

On 18 July 2024 the ESPR entered into force setting a framework for new ecodesign rules in the EU. It will have significant impacts for retailers and consumer brands selling products in the EU. It will introduce new minimum ecodesign requirements for specific product categories (with an initial focus on textiles), make digital product passports mandatory and set rules on the destruction of unsold products. Companies face the risk of fines, consumer claims and reputational damage for non-compliance.

Product liability and safety legislative refurb

Published on 05 Nov 2024. By Gavin Reese, Partner, Head of Regulatory and Sally Lord, Knowledge Lawyer Manager

The current legislation governing product safety is the General Product Safety Directive (GPSD), but its shortcomings, especially on tech, are evident.On 13 December 2024 the EU will be replacing the GPSD with the General Product Safety Regulation (GPSR), and the latest King’s Speech indicated it will be replaced in the UK by a Product Safety and Metrology Bill.Separately, EU Member States are rolling out a revised Product Liability Directive (PLD) which captures the provision of software, digital services and online marketplaces.

Urgently Misleading: the CMA secures undertakings from Wowcher and £4 million of customer refunds

Published on 17 Oct 2024. By Oliver Bray, Senior Partner and David Cran, Partner, Head of IP & Tech

When does a selling practice create a false sense of urgency that is considered misleading by the Competition and Markets Authority (CMA)?

Exemption from HFSS product restrictions for Ofcom-regulated internet protocol television (IPTV) services

Published on 17 Oct 2024. By Oliver Bray, Senior Partner and David Cran, Partner, Head of IP & Tech

What is the UK Government's proposal for the incoming HFSS restrictions in relation to IPTV advertising?

CMA targets Simba for misleading online choice architecture

Published on 17 Oct 2024. By Oliver Bray, Senior Partner and David Cran, Partner, Head of IP & Tech

What types of promotional tactics are in the Competition and Markets Authority's (CMA) line of sight when it comes to misleading online choice architecture?

CMA publishes draft guidance on enforcement of DMCCA consumer law

Published on 17 Oct 2024. By Oliver Bray, Senior Partner and David Cran, Partner, Head of IP & Tech

How will the CMA look to enforce the consumer protection law sections of the recently enacted Digital Markets, Competition and Consumers Act 2024 (DMCCA)?

Navigating retail's sustainable revolution as ESG shapes the industry's future

Published on 02 Oct 2024. By Kimberley Nanson, Senior Communications Manager and Caroline Copland, Head of Marketing Communications

As the retail regulatory landscape continues to develop at pace and affordability and sustainability remain important for consumers, ESG poses a variety of opportunities and challenges for those in the retail and consumer market.

Retail Compass Autumn 2024

Published on 02 Oct 2024. By Jeremy Drew, Partner and Karen Hendy, Partner and Ciara Cullen, Partner

Welcome to the autumn edition of Retail Compass. This edition sees a surge of ESG-related legislative and regulatory updates. We hope to guide you through the most pressing, as well as the wider upcoming legal and policy changes affecting retail and consumer brands.

Top tips for Influencing Senior Stakeholders on Environmental Programmes: Insights from a Responsible Business Professional

Published on 25 Sep 2024. By Katie Horn, DEIB and Responsible Business Manager (Market Facing)

Effectively influencing senior stakeholders is essential for the success of Environmental, Social, and Governance (ESG) programmes.

The EU’s Product Liability Directive expands to cover digital technology

Published on 01 Aug 2024. By Oliver Bray, Senior Partner and David Cran, Partner, Head of IP & Tech

What changes to civil product liability have been implemented by the European Commission for defective digital products and software?

Product Security and Telecommunications Infrastructure Regulations: a new security regime for smart devices

Published on 01 Aug 2024. By Oliver Bray, Senior Partner and David Cran, Partner, Head of IP & Tech

What does the new cyber security regime mean for “smart” devices in the UK?

Empowering consumers through the EU’s Green Transition Directive

Published on 01 Aug 2024. By Oliver Bray, Senior Partner and David Cran, Partner, Head of IP & Tech

What are the enhanced consumers rights arising from the EU’s Directive on Empowering Consumers for the Green Transition (the Empowering Consumers Directive)?

The EU’s new General Product Safety Regulation is set to land in December 2024

Published on 01 Aug 2024. By Oliver Bray, Senior Partner and David Cran, Partner, Head of IP & Tech

What do manufacturers and online marketplaces need to think about as the EU General Product Safety Regulation (GPSR) comes into force in December 2024?

The Digital Markets, Competition and Consumers Act becomes law

Published on 01 Aug 2024. By Oliver Bray, Senior Partner and David Cran, Partner, Head of IP & Tech

What changes will the new Digital Markets, Competition and Consumers Act bring to the consumer protection and competition regulation landscape?