Search results
1548 results ordered by
SRA issues Warning Notice on solicitors' involvement in SLAPPs
SLAPPs (aka 'Strategic Lawsuits Against Public Participation') is a term coined in the USA. They are becoming the object of increasing concern over here too.
Read moreIt's a Wonderful Life, Insurance
A swollen river rages through the town of Bedford Falls. It is Christmas Eve and, looking down upon the torrent, shivering on a bridge, is a woman, distraught and wounded by life's cruelties. She prepares to step over the railing. Her name is Insurance.
Read moreRICS publishes new guidance on cladding and valuation - Webinar on 16 December 2022
Following the consultation earlier this year, as RPC previously reported, the Royal Institution of Chartered Surveyors ("RICS") has now published new guidance on cladding and valuation. The guidance aims to provide guidance to valuers undertaking valuations for secured lending purposes of domestic residential flats, within residential blocks of 5 or more storeys or 11 metres or more in height.
Read moreA look at The London Market Group (With Caroline Wagstaff)
Welcome to Insurance Covered, the podcast that covers everything insurance. In this episode Peter is joined by Caroline Wagstaff CEO of the London Market Group, which is the topic they will be discussing.
Read moreInvest in due diligence for dubious schemes (Part 2)
With suspicious activity on the rise, the SRA remind firms of their anti-money laundering obligations.
Read moreAutumn Statement comes as 'welcome relief' for LDI market
International law firm RPC says there has been no 'doom loop' in market stability or movement in gilt yields
Read moreRICS disciplinary process: guidance for surveyors on the hearing process (3 of 4)
In our previous two articles we set out an overview of the RICS disciplinary process and the investigations stage. This article sets out the RICS hearing process.
Read moreA-Z of Insurance
Insurance plays a role in almost every aspect of life. For most, it is simply a policy that protects their car and home, but there is so much more to it than that. Peter Mansfield takes us on a whistlestop tour through insurance history as he gives us his A-Z of insurance.
Read moreRPC scores top rankings in Chambers UK 2023
RPC has achieved top ranking in nine practice areas in Chambers UK 2023.
Read moreAre pension fund trustees at risk of legal action following UK gilts’ meltdown?
Are pension fund trustees conducting liability-driven investing at risk of legal action following the volatility in the UK gilt market?
Read moreFCA responds to criticism of the Public Accounts Committee when it comes to BSPS with rejection of suggestion it should reconsider a wider defined benefit transfer review
In a July blog I reported on the House of Commons Public Accounts Committee report entitled "Investigation into the British Steele Pension Scheme". The blog set out a number of recommendations of the Committee in light of its investigations into the FCA's conduct and regulatory oversight of BSPS and, in particular, the 7,834 members that transferred out of BSPS into a personal pension scheme. We have now had a sneak preview of the FCA's response in the recent Committee minutes. Here's what the FCA had to say.
Read moreSix-cess! RPC recognised as top-tier firm across six areas in The Legal 500 UK 2023
The 2023 edition of the Legal 500 UK rankings has been released and we are delighted with the latest results.
Read moreRPC named Insurance Law Firm of the Year at ALB Hong Kong Law Awards
Accolade comes as international law firm celebrates 10th anniversary in Asia
Read moreRPC's Insurance Group adds further strength with new financial services and D&O Specialist in Bristol
International law firm RPC has hired Terence Dickens as a Partner for its leading Insurance Group, specialising in financial services disputes. He joins the firm on 12 September 2022 and will be based in RPC's Bristol office.
Read moreIs the FCA to blame for BSPS? MPs seem to think so
The House of Commons Public Accounts Committee (PAC) yesterday published a report entitled "Investigation into the British Steel Pension Scheme". The report makes a number of recommendations in light of its investigations in to the FCA's conduct and regulatory oversight at the time of the issues arising from the British Steel Pension Scheme (BSPS) and in particular the decision by 7,834 members to transfer to a personal pension arrangement. The report is heavily critical of the FCA's handling of BSPS and its regulatory oversight of the defined benefit transfer market generally. Given the request in the report for an update from the FCA on its progress on the various recommendations and conclusions in 6 months' time, we wait to see how the FCA reacts to yet further criticism of its handling of BSPS at a time when it is reviewing responses to the consumer redress scheme consultation.
Read moreCrypto crash could accelerate insurers rewriting policies to reduce exposure claims
The cryptocurrency crash could accelerate the process of insurers rewriting policies to reduce potential exposure, including making greater use of virtual currency exclusions, warns international law firm RPC.
Read moreRPC advises Howden on acquisition of Singapore-based AEGIS Insurance Agencies
International law firm RPC has advised global insurance broker Howden on its acquisition of AEGIS Insurance Agencies in Singapore, strengthening its commitment to the Asian market.
Read moreRPC's burgeoning Insurance Group hires FI and D&O specialist
International law firm RPC has hired Financial Institutions (FI) and Directors' and Officers' (D&O) liability insurance specialist Mike Newham to join the firm's leading Insurance Group in London as Partner.
Read moreBeware the client who is too busy to litigate
Clients need to understand from the outset of litigation not only how significant the cost of litigation can be, but also the time commitment.
Read moreRPC advises AssuredPartners on the acquisition of Gallivan Murphy Insurance Brokers
International law firm RPC has advised its longstanding client Assured Partners on the acquisition of high growth brokerage Gallivan Murphy Insurance Brokers (GMIB). The deal is subject to regulatory approval and is anticipated to complete in summer 2022.
Read moreRPC advises Howden on acquisition of SPF Private Clients
International law firm RPC has advised international insurance broker Howden on its acquisition of leading financial services business SPF Private Clients (SPF).
Read moreFCA consultation on British Steel redress scheme published
The FCA has now published its consultation paper on the proposed redress scheme for British Steel Pension transfers under s.404 of FSMA. The scope of this is wider than anticipated and the proposals contain some surprises around the lack of an opt-in process and potential involvement of FOS.
Read moreNo judicial review for FOS defined benefit transfer case
The High Court has rejected an application for permission for judicial review in a number of FOS complaints upheld against the adviser who advised on a defined benefit pension transfer. The adviser had advised on the transfer but not the subsequent investments made after the transfer. The adviser was led to believe that UCIS investments would not be made with the transferred funds but in fact UCIS investments were made. The FOS found that the adviser had given unsuitable pension transfer advice partly on the basis that it should have asked more questions about the ultimate investments and it was not enough to have provided for a general spread of investment type. Permission for judicial review was rejected on the basis that there was nothing unlawful in the FOS decisions including the fact that the adviser was held responsible for 100% of the losses despite the involvement of the separate adviser that advised on the investments following the transfer.
Read moreRPC advises Mosaic Insurance in deal to purchase SiriusPoint managing agency at Lloyd's
International law firm RPC has advised Mosaic Insurance on an agreement to purchase the Lloyd's managing agency of SiriusPoint, the global re/insurer, as part of a wider transaction with SiriusPoint becoming a strategic investor in Mosaic.
Read moreNational Audit Office on the British Steel Pension Scheme
On Friday the National Audit Office (NAO) published a report on the British Steel Pension Scheme (BSPS), looking at the regulation of pension transfer advice and extent to which compensation has been delivered. The NAO's report does not look at the merits of individual decisions made by the FCA and other organisations but includes some insightful information on the BSPS scheme and the status of complaints at FOS and the FSCS and the NAO's findings. With the report coming just before the FCA is due to publish its consultation on a consumer redress scheme for impacted BSPS members and makes for useful reading for those involved with BSPS complaints.
Read moreRPC advises MS Amlin on innovative split reinsurance to close (RITC) deal with Riverstone International
International law firm RPC has advised MS Amlin Underwriting Limited, part of the global top-10 insurance group MS&AD, on its ground-breaking RITC deal with Riverstone International, an industry-leading acquirer and reinsurer of legacy and discontinued insurance business.
Read moreRPC completes sale of insurance software business to global professional services firm Aon
Insurance software business RPC Tyche announces the successful sale of its business to global professional services firm Aon. The transaction was completed on 1 March 2022. RPC Tyche was jointly owned by international law firm RPC and software and consultancy business Marriott Sinclair.
Read moreSIPPs and FOS - does the Rowanmoor decision change anything?
Last week FOS published a decision it reached last year in a complaint against a SIPP provider involving advised sales. The FOS upheld the complaint, finding that the SIPP provider should have rejected business from the regulated financial adviser, CIB Life and Pensions Limited (CIB), given, broadly, red flags available to the SIPP provider with respect to the operation of CIB's business model including that CIB was not advising on the ultimate investment within the SIPP and as a result such introductions involved a significant risk of consumer detriment. The decision has received quite a bit of press attention - but has it moved the dial for SIPP complaints before FOS or not?
Read moreCovid civil unrest, claims arising from the SDLT holiday and emerging trends in class actions – the major issues set to impact insurers in 2022
Civil unrest in response to lockdowns, claims arising from the Stamp Duty holiday and emerging trends in class actions are just three of the major issues facing insurers in 2022, according to the latest Annual Insurance Review from international law firm RPC.
Read moreWeighty issues for diet app developers
2022 is set to be the year of the diet app. The distinction between what is a mere lifestyle app and what should in fact be a regulated medical product or service can be difficult to assess.
Read moreThe Future of Insolvency Regulation
On 21 December 2021 the Government launched a consultation into the future of insolvency regulation. The changes proposed in the consultation document will have a wide ranging impact on the insolvency profession (and its insurers) with the proposals including: the direct regulation of insolvency firms, the introduction of a single regulatory body with powers to order compensation against insolvency practitioners and firms, a new additional requirements regime, changes to the bond regime and a public register of insolvency practitioners and firms. Many of the changes proposed require primary legislation and so it may be some time before the changes to take effect (if adopted). But there does appear to be some wind behind these proposals given they follow on from the Call for Evidence in 2019 and a more general focus on insolvency issues in the wake of the Covid-19 pandemic.
Read moreFCA consults on British Steel redress scheme
The FCA intends to open consultation on an industry wide redress scheme covering British Steel Pension transfers. This is perhaps the only option left for the regulator, but a redress scheme will heap further pressure on an area of the advice industry that is already under fire.
Read moreFCA looks to tighten up appointed representative regime
On Friday the FCA published a consultation paper on potential changes to the existing appointed representative (AR) regime.
Read moreNew guidance on Machine Learning – plenty for humans to learn too
A triumvirate of healthcare regulators has published ten guiding principles (the Principles) concerning the development of Good Machine Learning Practice (GMLP). The Principles shed light on the risks posed by artificial intelligence (AI) products that depend on machine learning. Humans should take note.
Read moreFOS proposals to clear the back-log - attractive or not?
The Financial Ombudsman Service (FOS) has proposed a temporary approach to the classification of certain complaints in an attempt to alleviate their complaints backlog exacerbated during the COVID-19 pandemic. The approach could see firms looking to pro-actively resolve complaints before a defined cut off date before FOS reaches a decision so that the complaint is recorded separately and not as a "change in outcome" (i.e. where a complaint has been rejected by a business and upheld by FOS). The consultation was open for a short two-week period between 4 and 18 October 2021.
Read moreRPC boosts market-leading transactional and regulatory insurance team with Partner hire
Key strategic hire adds further strength to the firm's expanding transactional and regulatory insurance team
Read moreBlood Tube Shortage: Testing Times
Test tube shortage leading to delays in blood tests; protection for GPs from liability.
Read moreThe latest addition to Kwasi Kwarteng's reading list
The Regulatory Horizons Council report sets out recommendations for medical devices regulations reform in the UK
Read moreThe government responds to Cumberlege - What now for product liability risks in the life sciences sector?
The government has accepted most of Baroness Cumberlege's recommendations, with long term implications for litigation concerning medicines and medical devices.
Read moreRPC hires rising international casualty star in major boost to RPC's market-leading Insurance Group
International law firm RPC has hired international casualty partner, Lucy Dyson, to join the firm's leading Insurance Group in London. Lucy joins RPC from DAC Beachcroft LLP, where she specialised in international casualty coverage and disputes. Lucy joins RPC on 21 July 2021.
Read moreRPC advises Howden Group on the launch of Parhelion, the world's first fully sustainable insurer
International law firm RPC has advised Howden Group, the international insurance group, on the launch of Parhelion, the world's first fully sustainable insurer.
Read moreA tale of loss, limitation and a flawed transaction: why a loss may not feel like a loss
A recent Court of Appeal decision, Elliott v Hattens [2021] Civ 720, has once again raised the vexed issue of when the limitation period starts to run in a flawed transaction case. Does it start running immediately or at some later date? .
Read moreRPC Launches Global Access Lawyers with Cohort of Leading Insurance Law Practices
International law firm RPC has today launched Global Access Lawyers; a connected global offering providing insurer clients easy access to recognised insurance law specialists across the globe.
Read moreFCA set to expand climate-related reporting rules
The FCA has revealed it will consult on plans to require asset managers, life insurers and FCA-regulated pension schemes to meet climate-related disclosure rules. In doing so, the FCA is expanding the scope of firms required to report on climate-related risks in accordance with the recommendations of the Task Force on Climate-related Financial Disclosure (TCFD).
Read moreFCA set to expand climate-related reporting rules
The FCA has revealed it will consult on plans to require asset managers, life insurers and FCA-regulated pension schemes to meet climate-related disclosure rules. In doing so, the FCA is expanding the scope of firms required to report on climate-related risks in accordance with the recommendations of the Task Force on Climate-related Financial Disclosure (TCFD).
Read morePure Legal interest only mortgage claim – judgment in favour of the mortgage broker on limitation grounds as judge finds the damage was patent not latent
The first judgment following trial in a Pure Legal interest only mortgage claim has now been handed down, with the judge dismissing the claim on the basis that it was out of time, with the claimants having all requisite knowledge of the material facts of the damage from the outset of taking out the interest only mortgage. The judge also found the advice was not negligent.
Read moreWhen is a complaint a complaint under DISP?
A Court of Appeal judgment has recently addressed what constitutes a complaint for the purposes of DISP [Clive Davis v Lloyds Bank [2021] EWCA Civ 557]. It is important to identify when a complaint is made as a regulated firm for two primary reasons: first, a complaint triggers the dispute resolution procedure under DISP of the FCA's Handbook and second, it stops time running for the purposes of time bar when it comes to a complaint to FOS.
Read moreTreating customers fairly
Welcome to Insurance Covered! The podcast that looks at the inner workings of the insurance industry with the help of expert guests. This episode we are joined by James Daley, founder of Fairer Finance, and we will be discussing the concept of treating customers fairly.
Read moreAdditions to FCA DB Transfer Guidance Published
The FCA have published finalised guidance regarding defined benefit pension transfers. The latest publication amends and adds to the draft published in June 2020.
Read moreAdams v Carey – where does the Court of Appeal's decision leave the SIPP market?
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.
Read moreStay connected and subscribe to our latest insights and views
Subscribe Here