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First conviction under section 2 CJA 1987 overturned – RPC Analysis
On 16 September 2024, the first conviction for failure to comply with a notice to provide documents or information required by the Serious Fraud Office ("SFO") was overturned by Judge Nicholas Rimmer at Southwark Crown Court. Although this case was highly fact specific, it may result in a less enthusiastic approach towards pursuing such convictions in the future.
Read moreThe Week That Was - 20 September 2024
Welcome to the week that was, a round-up of key events in the construction sector over the last seven days.
Read moreClaims against water companies start in the Competition Appeal Tribunal
Following the dumping of sewage into our waterways, a case against six UK water companies begins on Monday (September 23, 2024).
Read moreThe Price and Value Outcome – the FCA publishes its year one insights
The Consumer Duty was introduced at the end of July 2023 and has applied to closed products from the end of July 2024. One of the cornerstones of the Consumer Duty is the price and value outcome. The FCA defines the price and value outcome as a requirement on firms to make sure the price customers pay is reasonable compared to the benefits they receive. The FCA has published its insights from the first year on the implementation of the outcome and its supervisory activity in relation to cash savings, guaranteed asset protection (or GAP insurance) and platform cash.
Read moreFIG and GIN mentoring series
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Read moreHMRC's offshore information gathering powers
This blog considers HMRC's information gathering powers and, in particular, their application to High Net Worth individuals.
Read moreBeyond the Radar: Navigating changing regulation
With the theme of "navigating changing regulation", the event offers early access to the next edition of Regulatory Radar, and a preview of the key themes emerging from our research into the regulatory concerns and priorities of organisations.
Read moreRPC wins 'Marketing Initiative of the Year' at Legal Business Awards 2024
International law firm RPC was named the winner of the 'Marketing Initiative of the Year' at the prestigious Legal Business Awards 2024. This accolade highlights the firm's innovative approach in empowering the tax industry through cutting-edge digital solutions, setting new standards for client service and industry leadership.
Read moreRPC advises on the establishment of Art Capital and initial investment round
International law firm RPC has advised on the establishment of new real estate debt advisory business Art Capital, backed by an initial investment from three strategic investors (ACRE Capital, RX London and TTB Partners) alongside Art Capital's founding shareholders. The investment, which completed on September 2 2024, marks a significant milestone for Art Capital as it looks to build a best-in-class debt advisory team to serve its real estate clients.
Read moreNeurodiversity at work (Part 3): How to implement effective neuro-inclusion
Ahead of ADHD awareness month in October, we are devoting our latest deep-dive mini-series to the topic of neurodiversity. Given 15 to 20% of the UK population are neurodivergent - and more than half of Gen Z identify as "definitely" or "somewhat" neurodiverse - it is essential for employers to understand how neurodiversity interacts with, and affects, employment law and the world of work.
Read moreEnsuring free access to cash across the UK as new FCA rules come into force
A new regulatory regime to support access to cash comes into effect on 18 September 2024, as the Financial Conduct Authority (FCA) implements measures to ensure the "reasonable provision of cash deposit and withdrawal services" for individuals and businesses across the UK.
Read moreTaxing Matters: Taxation of agents' fees in the football industry
In this episode, Alexis Armitage, RPC's Taxing Matters host and Senior Associate in our Tax Disputes and Investigations team, is joined by colleague and Partner, Michelle Sloane, to discuss the latest issues surrounding the taxation of agents' fees in the football industry.
Read moreRise with RPC and NGIN Gain insights from top industry leaders
Join us for an insightful morning at the Rise with RPC and NGIN event.
Read moreThe Week That Was - 13 September 2024
Welcome to the week that was, a round-up of key events in the construction sector over the last seven days.
Read moreSports Ticker #112: Leicester City's PSR appeal, Paralympics success and Women's Rugby World Cup 2025 coverage
Edition 112 12 September 2024 In a fortnight which saw ParalympicsGB claim second place at the Paris Paralympics 2024, the Scottish government strongly encouraged to back the Glasgow 2026 Commonwealth Games, and the French Rugby Federation agree a new supplier partnership with Adidas, we bring you updates on AI-powered translation of sports commentary, Women's Rugby World Cup 2025 on the BBC, and Leicester City's successful appeal of its PSR charge.
Read moreLitigation funder wins nearly £1m in D&O claim
Manolete Partners Plc, an insolvency litigation finance company, has successfully claimed against the former director of Just Recruit Group Ltd (Just Recruit) and awarded £918,590. The Insolvency and Companies Court of the High Court found that the director of Just Recruit, Norman Freed, had breached his directorial duties to the Company during the business's financial collapse.
Read moreTribunal awards costs against HMRC due to its unreasonable conduct
In Witton v HMRC [2024] UKFTT 489 (TC) (TCC), the First-tier Tribunal allowed HMRC's applications to amend its list of documents and to admit further evidence, and refused to disbar them from proceedings, but nonetheless awarded the taxpayer his costs due to HMRC's unreasonable behaviour.
Read moreML Covered - September 2024
Welcome to the second edition of ML Covered, our new monthly round-up of key events that are relevant for those dealing with Management Liability Policies covering D&O, EPL and PTL-type risks.
Read moreNeurodiversity at work (Part 2): The law, HR considerations and wellbeing, with Kelly Thomson and Victoria Othen
Welcome to The Work Couch, the podcast where we discuss all things employment. Ahead of ADHD awareness month in October, we are devoting our latest deep-dive mini-series to the topic of neurodiversity. Given 15 to 20% of the UK population are neurodivergent - and more than half of Gen Z identify as "definitely" or "somewhat" neurodiverse - it is essential for employers to understand how neurodiversity interacts with, and affects, employment law and the world of work.
Read moreCyber_Bytes Issue 67
Welcome to Cyber_Bytes, our regular round-up of key developments in cyber, tech and evolving risks.
Read moreUncertainty around the mandatory reimbursement cap for APP frauds – a new headache for FI firms and their insurers?
New regulations coming on 7 October 2024 will force payment firms to reimburse victims of authorised push payment (APP) fraud up to a set limit. On 4 September 2024, the Payment Systems Regulator (PSR) announced a consultation proposing to set this limit at £85,000, vastly reduced from the previously proposed £415,000 cap. This is a potential headache for insurers as the level of the cap will impact assessment of risk and apportionment of liability between sending and receiving payment firms – and the industry will only have 7 days to prepare.
Read morePrincipals and their Appointed Representatives – are principals meeting their supervision obligations? Maybe
The FCA has published its findings into how principals are doing when it comes to the new FCA rules (effective from 8 December 2022) for overseeing/supervising appointed representatives (ARs). The findings paint a mixed picture and will be relevant to those in the FCA regulated market involved with networks which means not just advice firms but also brokers (mortgage brokers and insurance brokers) that operate network structures.
Read moreUse the (en)force(ment) - FCA enforcement data shows a sharp increase in s.166 reviews
The FCA has published its annual report and accounts for the year 2023 / 2024. This is a voluminous document running to 170 pages. For the purposes of this blog, we're focussing on some interesting data nestled in an appendix concerning the use of s.166 of FSMA.
Read moreRegulatory Radar: quick takes - September 2024
Welcome to the September 2024 of our bi-monthly Regulatory Radar: quick takes, which pulls together the latest developments from across the UK's regulators.
Read moreThe Week That Was - 6 September 2024
Welcome to the week that was, a round-up of key events in the construction sector over the last seven days.
Read moreSpotlight on private wealth - September 2024
This update is designed to keep you up to date with developments in the private wealth world. In this edition, we explore a broad range of topics including the new Labour government's proposed changes to the taxation of non-UK domiciled individuals and in the art world, an important recent High Court decision on beneficial ownership.
Read moreBreaking the 'old boys club': financial services face cultural overhaul amid regulatory shifts
The financial services sector, a cornerstone of the UK economy, is facing growing scrutiny over its entrenched 'old boys club' culture. This long-standing environment not only hampers diversity and inclusion efforts but also risks triggering increased regulatory intervention.
Read moreTribunal allows taxpayer's post-cessation trade relief claim as enquiry was out of time
In the recent Dennison case, the FTT allowed the taxpayer's post-cessation trade relief claim as HMRC's enquiry was opened out of time.
Read moreNeurodiversity at work (Part 1): Myths, misconceptions and the lived experience, with Ashlea Cromby, Tracey West, Alice de Coverley and Victoria Othen
Welcome to The Work Couch, the podcast where we discuss all things employment. Ahead of ADHD awareness month in October, we are devoting our latest deep-dive mini-series to the topic of neurodiversity. Given 15 to 20% of the UK population are neurodivergent - and more than half of Gen Z identify as "definitely" or "somewhat" neurodiverse - it is essential for employers to understand how neurodiversity interacts with, and affects, employment law and the world of work.
Read moreBHS directors ordered to pay over £100m in respect of trading misfeasance redress
On 19 August 2024, the High Court handed down its quantum decision in Wright v Chappell [2024] EWHC 2166 (Ch), which for the first time sets out the method for quantifying loss relating to "trading misfeasance" claims.
Read moreFCA market study into protection product commissions
The Financial Conduct Authority (FCA) has announced a market study into the commission structure associated with protection products. It aims to assess whether the commissions paid to advisors for recommending such products deliver value for money and ensure positive outcomes for consumers. The study will be launched later this year.
Read moreTax Bites – September 2024
Welcome to the latest edition of RPC's Tax Bites – providing monthly bite-sized updates from the tax world.
Read morePensions Ombudsman publishes corporate plan 2024/25
The Pensions Ombudsman (TPO) has recently released its Corporate Plan for 2024/25 which sets out key priorities aimed at addressing the increasing demand for its services and the challenges that come with it.
Read moreThe Week That Was - 30 August 2024
Welcome to the week that was, a round-up of key events in the construction sector over the last seven days.
Read moreStaying green and true: navigating the new FCA anti-greenwashing rule
In an era where sustainability is now firmly on the investor agenda and under increasing scrutiny, the FCA has recently introduced a new 'anti-greenwashing' rule to prevent firms from exaggerating the green or social credentials of their products and services. The implications of the new rule are significant, with the risk of regulatory action and civil claims for non-compliance. Against this backdrop, IR professionals can play a key role in helping ensure transparency with investors, raising the firm's profile in the sustainability space and mitigating legal risk.
Read moreLawyers Covered - August 2024
It can be tough for busy lawyers to find enough time to service clients, make it safely through the regulation obstacle course, win new work and keep up-to-date with developments, but we've got you covered! Welcome to the August edition of our Lawyers Liability & Regulatory Update, in which we highlight the last month's key developments affecting lawyers and the professional risks they face.
Read moreSports Ticker #111: New era for women's football, NFT football trading cards and Twickenham's naming rights deal
In a fortnight which saw the Paris 2024 Summer Olympics come to a close, Andy Murray's retirement from tennis and British Basketball's Manchester franchise acquired by a US-based investment group, we bring you updates on the "New Era" for women's football, the NFL and Sony's new partnership, and Twickenham's new naming rights deal.
Read moreThe use of AI in insurance (With Selim Cavanagh)
Welcome to Insurance Covered, the podcast that covers everything insurance. In this episode Peter is joined by Selim Cavanagh, Director at Mind Foundry, an organisation that advises insurers on how to make the most out of AI, which is the topic they discuss.
Read moreTribunal allows taxpayer's appeal in part in case concerning deliberate and/or careless errors
In Shaun Harte v HMRC [2024] UKFTT 00493 (TC), the First-tier Tribunal reduced HMRC's assessments to income tax, penalties and VAT. It also considered HMRC's application of the 'presumption of continuity' in relation to deliberate and/or careless errors.
Read moreRPC expands solicitor apprenticeship programme to London
International law firm RPC today announces the expansion of its successful solicitor apprenticeship programme to London. Launched in 2018, the programme has seen considerable success in Bristol, where RPC currently employs 10 legal apprentices, including seven solicitor apprentices and three paralegal apprentices.
Read moreRICS disciplinary process: an overview for surveyors
Download our complete guide to the procedure involved in a disciplinary investigation against a chartered surveyor.
Read moreV@ update - August 2024
Welcome to the August 2024 edition of RPC's V@, a monthly update which provides news and analysis from the VAT world.
Read moreThe Week That Was - 23 August 2024
Welcome to the week that was, a round-up of key events in the construction sector over the last seven days.
Read moreAGA Saga – AGA retrofitter liable for trade mark infringement, but Lifestyle Equities saves director from joint tortfeasorship
In AGA Rangemaster Group v UK Innovations Group, [2024] EWHC 1727 (IPEC), AGA Rangemaster UK Ltd (AGA), brought a successful claim against UK Innovations Group Ltd (UK Innovations) and its director Michael McGinley for trade mark infringement in relation to their marketing and sales of AGA cookers that had been "retrofitted" with electrifying control panels, using UK Innovations' specialised "eControl System".
Read moreGovernment Details Scope for 'Phase One' of Pensions Review
The Government has published its 'terms of reference' for phase one of its wide-ranging review into the UK pensions industry. This development is relevant to those working in the pension industry (actuaries, lawyers, administrators and investment consultants) as well as pension scheme trustees and, with that, their PTL insurers.
Read moreW&I insurance: Key lessons from recent case law
Recent case law has highlighted the importance of understanding how a buyer on a share or asset sale has valued the target business and the clear drafting of exclusions. This blog considers the key takeaways for both warranty and indemnity (W&I) insurers and insureds.
Read moreContentious Tax August 2024
Contentious Tax Quarterly Review - Adam Craggs and Harry Smith examine developments in relation to open justice, access to pleadings and the taxation of carried interest.
Read moreCustoms and excise quarterly update - August 2024
Welcome to the August 2024 edition of RPC's Customs and Excise Quarterly Update. ate.
Read moreICO Processor fine – the ICO's approach to assessing technical standards and its impact
The ICO recently confirmed its provisional decision to fine Advanced Computer Software Group £6.09 million following a data breach that it suffered in 2022.
Read moreSRA introduces new rules to restrict fees recoverable in financial mis-selling claims
The SRA has taken steps to bring law firms and CMCs into line through the introduction of a cap on fees solicitors are able to recover from their clients when acting on their behalf in relation to financial mis-selling claims.
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