Search results

Financial CrimeCast: Osama Al Jayousi

Published on 06 Apr 2021.

Welcome to Financial CrimeCast. In this series, the Centre for Legal Leadership, supported by RPC, talks to leaders in the field of financial crime, compliance and ethics. Guests discuss their career journey, what they have learnt along the way and the financial crime issues they see on the horizon.

Adams v Carey – where does the Court of Appeal's decision leave the SIPP market?

Published on 01 Apr 2021. By Rachael Healey, Partner

The Court of Appeal has today dismissed Mr Adams' appeal against Carey in respect of COBS 2.1.1R. However, the appeal in relation to s.27 FSMA has been upheld. We discuss the background to the proceedings, the Court of Appeal decision and where it takes the SIPP (and wider financial services) market.

Lawyers Covered - March 2021

Published on 24 Mar 2021.

Welcome to the latest edition of our Lawyers Liability & Regulatory Update, in which we look back over the last month at key developments affecting lawyers and the professional risks they face.

Regulatory update - March 2021

Published on 22 Mar 2021. By Gavin Reese, Partner, Head of Regulatory

Welcome to the March edition of the Regulatory update, which pulls together recent developments from across the UK’s regulators – to help you navigate the regulatory maze.

Financial CrimeCast: Sue Scott

Published on 19 Mar 2021.

Welcome to Financial CrimeCast. In this series, the Centre for Legal Leadership, supported by RPC, talks to leaders in the field of financial crime, compliance and ethics. Guests discuss their career journey, what they have learnt along the way and the financial crime issues they see on the horizon.

Sanctions – A New World?

Published on 26 Feb 2021.

The new UK sanctions regime (SAMLA) replaces EU sanctions in the UK, and sits alongside UN sanctions and US sanctions as a factor for businesses to consider in planning their anti-corruption and compliance matters. In particular it can impose trade sanctions, travel sanctions and financial sanctions, with tough financial penalties for non-compliance.

Financial CrimeCast: Sarah Pritchard

Published on 19 Feb 2021.

Welcome to Financial CrimeCast. In this series, the Centre for Legal Leadership, supported by RPC, talks to leaders in the field of financial crime, compliance and ethics. Guests discuss their career journey, what they have learnt along the way and the financial crime issues they see on the horizon.

Part 2: Top 5 corporate crime compliance trends for the year ahead

Published on 26 Jan 2021.

As we commence a new year in the midst of unprecedented global challenges, here is our take on the key financial crime risk and compliance trends you need to be aware of in 2021.

Part 1: Top 5 corporate crime enforcement trends for the year ahead

Published on 19 Jan 2021.

As we commence a new year in the midst of unprecedented global challenges, here is our take on the key financial crime risks and trends you need to be aware of in 2021.

Financial CrimeCast: Fidelis Omozuapo

Published on 19 Jan 2021.

Welcome to Financial CrimeCast. In this series, the Centre for Legal Leadership, supported by RPC, talks to leaders in the field of financial crime, compliance and ethics. Guests discuss their career journey, what they have learnt along the way and the financial crime issues they see on the horizon.

Regulatory update - December 2020

Published on 17 Dec 2020.

Welcome to the December edition of the Regulatory update, which pulls together recent developments from across the UK’s regulators – to help you navigate the regulatory maze.

Financial CrimeCast: Lucille Dolor

Published on 14 Dec 2020.

Welcome to Financial CrimeCast. In this series, the Centre for Legal Leadership, supported by RPC, talks to leaders in the field of financial crime, compliance and ethics. Guests discuss their career journey, what they have learnt along the way and the financial crime issues they see on the horizon.

Financial CrimeCast: Andy McClarron

Published on 03 Dec 2020.

Welcome to Financial CrimeCast. In this series, the Centre for Legal Leadership, supported by RPC, talks to leaders in the field of financial crime, compliance and ethics. Guests discuss their career journey, what they have learnt along the way and the financial crime issues they see on the horizon.

Financial CrimeCast: Amanda Pinto QC

Published on 26 Nov 2020.

Welcome to Financial CrimeCast. In this series, the Centre for Legal Leadership, supported by RPC, talks to leaders in the field of financial crime, compliance and ethics. Guests discuss their career journey, what they have learnt along the way and the financial crime issues they see on the horizon.

Is the current law on corporate criminal liability about to get more teeth?

Published on 05 Nov 2020.

On 3rd November 2020, the Government published its long-awaited response to its January 2017 call for evidence on the question of reforming the law on corporate liability for economic crime. The Government found the evidence inconclusive overall, so it has asked the Law Commission to draft an Options Paper, to assess how effective the current law is relating to corporate criminal liability and where improvements can be made.

New SFO guide to DPAs: material change, or confirmation of approach?

Published on 28 Oct 2020.

Last week, the Serious Fraud Office (SFO) published a comprehensive guide to its approach to Deferred Prosecution Agreements (DPAs).

Regulatory update - October 2020

Published on 22 Oct 2020. By Gavin Reese, Partner, Head of Regulatory

Welcome to the October edition of the Regulatory update, which pulls together recent developments from across the UK’s regulators – to help you navigate the regulatory maze.

UKCA Marking: Updated Guidance

Published on 16 Sep 2020. By Gavin Reese, Partner, Head of Regulatory and Elinor Sidwell, Associate

As the end of the Brexit implementation period draws closer, the UK Government has sought to clarify the changes that will follow. On 1 September 2020 they published the long-awaited guidance on the use of UKCA marking following the withdrawal of the previously issued advice earlier this year.

Regulatory update - August 2020

Published on 21 Aug 2020. By Gavin Reese, Partner, Head of Regulatory

Welcome to the August edition of the Regulatory update, which pulls together recent developments from across the UK’s regulators – to help you navigate the regulatory maze.

Reform of audit industry: it's time to split

Published on 28 Jul 2020. By Davina Given, Partner

Audit has been the subject of intense scrutiny over the past few years in the wake of a series of high-profile business collapses such as Carillion, Patisserie Valerie and Thomas Cook in the UK and, more recently, Wirecard in Germany, and there is no shortage of calls for reform of the audit industry.

Medical Devices Regulation on the horizon

Published on 09 Jul 2020.

The EU Regulation on Medical Devices 2017/745 (the MDR) had been due to become fully applicable on 26 May 2020.

SMCR: The tricky implementation phase

Published on 09 Jul 2020.

The Senior Managers and Certification Regime (SMCR) came into force for all financial services firms solo-regulated by the Financial Conduct Authority (FCA) on 9 December 2019. The SMCR replaces the previous APER regime under which the FCA had oversight of the individuals working in the financial services industry. There is a one year implementation period for firms to make the changes required by the SMCR, which expires on 9 December 2020.

Regulatory Radar 2020/21

Published on 09 Jul 2020.

Welcome to the 2020/21 edition of RPC’s annual Regulatory Radar – a guide to the key regulatory changes worth having on your radar. We hope this will be a useful resource, helping you scan the regulatory horizon and highlight changes that could impact your business.

Regulatory update - June 2020

Published on 26 Jun 2020. By Gavin Reese, Partner, Head of Regulatory

Welcome to the June edition of our monthly Regulatory Update, which aims to pull together key developments from the past month across the various UK regulators – and help you to navigate the regulatory maze.

COVID-19: The Dairy Sector and Welsh health services granted temporary UK competition law exemptions and the European Commission issues first 'Comfort Letter' to Pharmaceutical Manufacturers

Published on 01 Jun 2020. By Melanie Musgrave, Of Counsel

The UK Government has granted a temporary competition law exemption for certain collaboration within the dairy sector and Welsh health services and the European Commission has published its first 'comfort letter' to allow co-operation to ensure supplies of medicines for COVID-19 patients.

Regulated Activities Order amendments for the new Bounce Back Loan Scheme

Published on 05 May 2020.

On 1 May 2020, the Financial Services and Markets Act 2000 (Regulated Activities) (Coronavirus) (Amendment) Order 2020 was published and came into force on 4 May 2020.

Regulatory Roundup Q1 2020

Published on 30 Apr 2020. By Gavin Reese, Partner, Head of Regulatory

Welcome to the Spring edition of the Regulatory Roundup, which aims to pull together the key developments across regulatory regimes – and help you to navigate the maze.

COVID-19: What is the CMA's current approach to UK merger assessment?

Published on 29 Apr 2020. By Melanie Musgrave, Of Counsel

The CMA has been adapting its working practices to react to the ongoing challenges of a change in working environment that has an impact on almost all businesses.

COVID-19: Coronavirus and Competition Law - The Current Enforcement Scene

Published on 06 Apr 2020. By Melanie Musgrave, Of Counsel

Key regulatory guidance following COVID-19 pandemic

Published on 27 Mar 2020. By Gavin Reese, Partner, Head of Regulatory

As the world tackles the COVID-19 pandemic, the UK’s Regulators have published a host of useful guidance that firms should take good note of during this period of uncertainty. While not an exhaustive list, we hope this summary highlights the key obligations and requirements currently being brought in by the Regulators.

Regulatory update - March 2020

Published on 27 Mar 2020. By Gavin Reese, Partner, Head of Regulatory

Welcome to the March edition of our monthly Regulatory Update, which aims to pull together key developments from the past month across the various UK regulators – and help you to navigate the regulatory maze.

Regulatory update - February 2020

Published on 13 Feb 2020.

Welcome to the February edition of our monthly Regulatory Update, which aims to pull together key developments from the past month across the various UK regulators – and help you to navigate the regulatory maze.

Regulatory update - January 2020

Published on 15 Jan 2020.

Welcome to the January edition of our monthly Regulatory Update, which aims to pull together key developments from the past month across the various UK regulators – and help you to navigate the regulatory maze.

Regulatory update - December 2019

Published on 11 Dec 2019.

Welcome to the December edition of our monthly Regulatory Update, which aims to pull together key developments from the past month across the various UK regulators – and help you to navigate the regulatory maze.

Regulatory update - November 2019

Published on 11 Nov 2019.

Welcome to the November edition of our monthly Regulatory Update, which aims to pull together key developments from the past month across the various UK regulators – and help you to navigate the regulatory maze.

Regulatory update - October 2019

Published on 10 Oct 2019. By Gavin Reese, Partner, Head of Regulatory

Welcome to the October edition of our monthly Regulatory update, which aims to pull together key developments from across the various UK regulators – and help you to navigate the regulatory maze.

First (Brands) of many? US firm collapses rock private credit markets

Published on 06 Nov 2025. By Daniel Hemming, Partner and William Monaghan, Associate

Since we last wrote about private credit in early September, the market has been rocked by the collapse of US car parts company First Brands. The First Brands debacle, the similar demise of the subprime lender Tricolor and concerns in the US regional banking sector all appear set to cause billions of dollars in losses across capital markets. First Brands and Tricolor both collapsed with unnerving speed amid allegations of fraud, culminating in First Brands suing its own founder for allegedly misappropriating billions of dollars of company money. Litigators like us are watching the fraud allegations and related inter-creditor disputes closely, but the broader industry will be more concerned by what they say about private credit markets as a whole.

Improving transparency: new rules on public access to documents in proceedings

Published on 31 Oct 2025. By Daniel Hemming, Partner and Nadia Asfour , Associate

From 1 January 2026, new rules will come into force in the Commercial Court, London Circuit Commercial Court and Financial List with the aim of improving public access to documents in civil proceedings. The new rules will require legal representatives to add various categories of documents referred to at public hearings to the Court's electronic file, meaning they will be, by default, available to the public. The new rules are governed by Practice Direction 51ZH and are part of a 2-year pilot scheme aimed at improving transparency and open justice in the civil courts.

Judicial guidance on time limits for challenges to post-arbitral awards

Published on 27 Oct 2025. By Karina Plain, Senior Associate and Kirtan Prasad, Of Counsel

The question of whether challenges brought under section 72(1) of the Arbitration Act 1996 (the AA) can be made post-award has been a source of judicial and academic debate.

Dust Settles in Favour of Industrial Defendant: Andrews v Kronospan Limited

Published on 20 Oct 2025. By Zoe Mernick-Levene, Partner and Alexandra Prato, Associate

In the recent case of Andrews v Kronospan Limited [2025] EWHC 2429 (TCC), the High Court rejected a group nuisance claim brought by residents living near a major wood-processing facility in North Wales.

First of a kind: High Court grants injunction restraining enforcement of an English Court judgment

Published on 16 Sep 2025. By Dan Wyatt, Partner and Sarah Barrie, Associate

Recent High Court judgment clarifies the scope of the English court's powers to grant anti-enforcement injunctions and the applicable legal test for granting anti-suit injunctions

Allegations of arbitrator bias fall flat in the recent case of V and N v K

Published on 12 Sep 2025. By Jessica Davies, Senior Associate and Shai Wade, Partner, Head of International Arbitration

In the recent case of V and N v K[1] the High Court confirmed the high threshold required for establishing arbitrator bias and considered the extent of an arbitrator's duty to disclose previous appointments in arbitrations under the London Maritime Arbitrators Association (LMAA) Rules. The judgment provides a useful review of the principles and serves as a reminder for parties to ensure that any challenges to arbitrator independence are properly particularised, considering the relevant practice for arbitrator appointment in the relevant field.

The Competition Appeal Tribunal provides further guidance on "standard requirements" in CPO Applications

Published on 04 Sep 2025. By Chris Ross, Partner and Zoe Mernick-Levene, Partner and Alexandra Shearer, Senior Associate

The landscape surrounding the certification by the Competition Appeal Tribunal (the Tribunal) of applications for Collective Proceeding Orders (CPOs) (the necessary first step before a collective action can proceed to trial in the Tribunal) continues to develop as more claims proceed through the certification process and judgments are published. Now the legal principles underlying the certification of a collective action are better established, the Tribunal appears to be turning its mind to more forensic procedural management of this process, and establishing a series of standard requirements it expects proposed class representatives (PCRs) to meet in CPO applications.

Down and (finally) out: The Privy Council confirms the end of the Shareholder Rule exception to privilege

Published on 26 Aug 2025. By Adam Forster, Partner and Hazel Meikle-Downing, Associate

The Privy Council has resolutely confirmed the end of the "Shareholder Rule" exception to legal professional privilege – a decision that may have a significant impact on shareholder claims in the English courts going forward.

Margin calls in times of market turbulence

Published on 02 Jul 2025. By Jake Hardy, Partner and Simon Hart, Partner, Financial Services Sector Lead and Fred Kuchlin, Senior Associate

This case serves an illustration of the factors that the court will take into consideration when weighing up the competing interests of confidentiality obligations against the duty of disclosure, here under the rules of the disclosure pilot under PD 51U. The court found that confidentiality obligations owed to the IMF did not override the duty of disclosure. The court took into account both the scope of the confidentiality obligation and the relevancy and contemporaneous quality of the documents.

RPC traces the trends for LIDW25

Published on 30 Jun 2025. By Jonathan Cary, Partner

With London International Disputes Week 2025 now wrapped up, we are reflecting on what it might tell us about the evolution of the disputes landscape.

CAT approves settlement in Merricks v Mastercard

Published on 23 May 2025. By Chris Ross, Partner and Christina Gleeson, Senior Associate and Will Carter, Senior Associate

The Competition Appeal Tribunal (CAT) has handed down its written judgment on the application for approval of a £200 million settlement with respect to the collective action proceedings brought by Walter Merricks (the CR) against Mastercard, on the interchange fees charged by Mastercard. The aggregate damages were initially estimated in the claim form at around £14 billion. The settlement application was opposed by the CR's funder, Innsworth Capital (the Funder).

Court of Appeal decision allows litigation funders to be paid first in collective proceedings

Published on 13 May 2025. By Zoe Mernick-Levene, Partner

Another blow for Italian regional authorities in Italian Swaps saga judgment

Published on 12 Mar 2025. By Tom Hibbert, Partner and William Monaghan, Associate

Shortly before Christmas, the Commercial Court handed down judgment in another one of the long line of 'Italian Swaps Cases', Dexia SA v Regione Emilia Romagna.

The PCR's "heavy responsibility": CAT judgment in Riefa v Apple and Amazon emphasizes the high standards expected of a PCR

Published on 27 Feb 2025. By Chris Ross, Partner and Jessica Davies, Senior Associate

The Competition Appeal Tribunal (the Tribunal) recently handed down an important judgment, refusing to certify the proposed collective proceedings in Christine Riefa Class Representative v Apple Inc. & Amazon.com, Inc. After two certification hearings, the Tribunal was not satisfied that it would be just and reasonable for the Proposed Class Representative (the PCR) to bring the proceedings following concerns relating to Professor Riefa's understanding of the PCR's funding arrangements. The judgment reiterates the strict requirements and high standards expected of a PCR.