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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.

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.

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.

Harmful Online Choice Architecture: ASA criticises Nike and Sky for “dark pattern” tactics

Published on 10 Dec 2024. By Oliver Bray, Senior Partner

What must businesses do to ensure that their ads do not fall foul of the ASA and CMA’s ongoing investigations into harmful choice architecture and dark pattern tactics?

Agreements to agree: Price for goods “to be fixed” by agreement results in partially enforceable contract

Published on 10 Dec 2024. By Caroline Tuck, Partner and Eleanor Harley , Senior Associate

Where a contract for the sale of goods did not expressly specify the price for a portion of the goods, was the contract for the sale of those goods, or an element of it, enforceable or unenforceable as a mere agreement to agree?

Influencer posts and affiliate links: the whole marketing chain must know the rules

Published on 10 Dec 2024. By Oliver Bray, Senior Partner

Why did the Advertising Standards Authority (ASA) rule against Sainsbury’s on the use of an affiliate link by an influencer (noting that Sainsbury’s had no involvement in the creation of the post) and what steps could Sainsbury’s take to help prevent the problem from happening again?

Construing material adverse effect/material adverse change clauses

Published on 10 Dec 2024. By Caroline Tuck, Partner and Eleanor Harley , Senior Associate

How did the courts go about construing a material adverse effect definition (MAE) in a share purchase agreement (SPA) to determine whether an event constituted a MAE so as to discharge the buyers from their obligation to close the transaction?

Travel agent found to have misled consumers with “from” price claims

Published on 10 Dec 2024. By Oliver Bray, Senior Partner

How can advertisers avoid misleading consumers when using “from” price claims?

Reasonable notice termination not construed or implied into a contract with detailed termination provisions

Published on 10 Dec 2024. By Caroline Tuck, Partner and Eleanor Harley , Senior Associate

Where a contract contains comprehensive termination provisions, in what circumstances will the court avoid construing or implying an additional right to terminate on reasonable notice?

ASA rules against telecoms companies on mid-contract price rises

Published on 10 Dec 2024. By Oliver Bray, Senior Partner

What steps should be taken to ensure contractual mid-term price rises don’t fall foul of advertising regulations or Ofcom’s existing and incoming transparency rules?

Effect of a contractual liability cap on set-off and contractual interest

Published on 10 Dec 2024. By Caroline Tuck, Partner and Eleanor Harley , Senior Associate

Under a contract’s liability cap, should the cap be applied separately to each party’s liability before any set-off or after calculating the net financial position between the parties?

Round up of recent green claims

Published on 10 Dec 2024. By Oliver Bray, Senior Partner

Round up of recent green claims: Key updates and sector-specific updates

Court infers novation despite 'no dealings' clause

Published on 17 Oct 2024.

Magee and others v Crocker and others [2024] EWHC 1723 (Ch)

Determining whether a default interest clause is an unenforceable penalty

Published on 17 Oct 2024.

Houssein & Others v London Credit Limited & Another [2024] EWCA Civ 721

Agent authority in contract variation

Published on 17 Oct 2024. By David Cran, Partner, Head of IP & Tech and Caroline Tuck, Partner

Advanced Multi-Technology for Medical Industry and others v Uniserve Ltd and others [2024] EWHC 1725 (Ch)

Contract construction – adjective at the start of a list found to qualify the entire list

Published on 17 Oct 2024.

Cantor Fitzgerald & Co v Yes Bank Ltd [2024] EWCA Civ 695

Updated CAP guidance on when in-game purchases are considered 'advertising'

Published on 17 Oct 2024. By Oliver Bray, Senior Partner

When and how does the CAP Code apply to the advertising of in-game purchases such as "loot boxes" in apps and video games?

ASA continues to scrutinise aviation green claims

Published on 17 Oct 2024. By Oliver Bray, Senior Partner

What can we learn from the Advertising Standards Authority's (ASA) recent rulings against green claims in the aviation industry?

ASA rules on impact of historic environmental performance on green claims

Published on 17 Oct 2024. By Oliver Bray, Senior Partner

How does the Advertising Standards Authority (ASA) say about poor historic environmental behaviour in respect of green claims?

IAB Europe's 12 guiding principles for the 2024-2029 EU legal agenda

Published on 17 Oct 2024.

What principles will guide IAB Europe in the upcoming EU legal agenda?

ASA rules that ad is not sufficient where influencers also have business interests

Published on 17 Oct 2024.

Why could Zoe and Huel not rely on a #ad disclosure in ads promoted by the famous entrepreneur, Steven Bartlett? And what does this mean for brands where the individual featured in their ads has a business interest in them?

Heating and insulation green claims under CMA review

Published on 17 Oct 2024. By Oliver Bray, Senior Partner

What is the Competition and Markets Authority's (CMA) new guidance on the marketing of heating and insulation products and how does this fit into the wider consumer protection picture?

Interest clauses – displacing the courts’ wide discretionary powers to award interest on debt or damages

Published on 13 Dec 2023. By David Cran, Partner, Head of IP & Tech

What is the courts’ approach to awarding statutory interest when a contract provides for contractual interest.

Incorrect invoicing – claiming the difference between sums mistakenly invoiced and sums correctly due under agreement terms

Published on 13 Dec 2023. By David Cran, Partner, Head of IP & Tech

When a supplier invoices a lower sum than the figure due under the agreement, can the customer defend a claim in debt based on incorrect invoicing?