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Supreme Court upholds that fiduciaries must act with "single-minded loyalty toward their principals (or beneficiaries)"

Published on 22 Apr 2025. By Daniel Parkin, Associate and Zoe Melegari, Senior Associate

In Rukhadze and others v Recovery Partners GP Ltd and another [2025] UKSC 10, the Supreme Court unanimously affirmed the legal test for the account of profits rule (the Profit Rule).

New developments in AI may put law firms at greater risk of phishing fraud

Published on 28 Apr 2023. By Will Sefton, Partner, Head of the Lawyers Liability and Regulatory Group

As the computing power of Artificial Intelligence continues to grow exponentially, we consider how generative technology may expand the reach of traditional phishing frauds aimed at law firms.

Regulatory Radar: quick takes May 2025

Published on 12 May 2025. By Gavin Reese, Partner, Head of Regulatory

Welcome to the latest edition of our bi-monthly Regulatory Radar: quick takes update, which collates the latest developments from across the UK’s regulators.

Navigating the impact of AI on work: challenges, opportunities, and the human touch

Published on 20 Mar 2024. By Patrick Brodie, Patrick Brodie, Partner, Head of Employment, Engagement & Equality

The fear of job losses because of technology and automation, including artificial intelligence, has been with us since the 1960s. For some time, academics have predicted the decline of routine, rules-based and process-driven roles.

Ethics in the age of AI: new Institute of Directors checklist

Published on 07 Jul 2023. By Oliver Bray, Senior Partner, Technology, Media & Telecoms Sector Lead

What are the key considerations for boards regarding the ethical use of AI within their companies based on the Institute of Directors’ (IoD) Checklist for Boards (Checklist)?

Government White Paper sets out UK approach to AI regulation

Published on 07 Jul 2023. By Oliver Bray, Senior Partner, Technology, Media & Telecoms Sector Lead

How is the UK Government looking to regulate AI?

UK Government sets out proposals for regulation of AI

Published on 10 Oct 2022. By Oliver Bray, Senior Partner, Technology, Media & Telecoms Sector Lead

What are the UK Government’s plans for the future regulation of artificial intelligence (AI)?

ICO launches AI and Data Protection Toolkit

Published on 28 Jul 2022.

How can those engaged in the development of artificial intelligence (AI) systems utilise the Information Commissioner’s Office’s AI and data protection risk toolkit (the Toolkit) to better ensure compliance with data protection legislation?

UK government announces the launch of an AI standards hub

Published on 12 Apr 2022. By Oliver Bray, Senior Partner, Technology, Media & Telecoms Sector Lead

What does the new artificial intelligence (AI) standards hub mean for businesses seeking to develop AI technologies?

UK authorities consider position of AI in preparation for a new Golden Age of Tech

Published on 09 Jun 2021. By Oliver Bray, Senior Partner, Technology, Media & Telecoms Sector Lead

The question: What direction is the UK taking regarding policies on artificial intelligence (AI)?

Money Covered: The Week That Was – 25 July 2025

Published on 25 Jul 2025. By Rachael Healey, Partner and David Allinson, Partner and George Smith, Partner and Kirstie Pike, Partner and Kate Hill, Partner

Welcome to The Week That Was, a round-up of key events in the financial services sector over the last seven days.

Money Covered: The Week That Was - 18 July 2025

Published on 18 Jul 2025. By Rachael Healey, Partner and David Allinson, Partner and George Smith, Partner and Kirstie Pike, Partner and Kate Hill, Partner

Welcome to The Week That Was, a round-up of key events in the financial services sector over the last seven days.

Money Covered: The Week That Was - 11 July 2025

Published on 11 Jul 2025. By Rachael Healey, Partner and David Allinson, Partner and George Smith, Partner and Kirstie Pike, Partner and Kate Hill, Partner

Welcome to The Week That Was, a round-up of key events in the financial services sector over the last seven days.

Money Covered: The Week That Was - 4 July 2025

Published on 04 Jul 2025. By Rachael Healey, Partner and David Allinson, Partner and George Smith, Partner and Kirstie Pike, Partner and Kate Hill, Partner

Welcome to The Week That Was, a round-up of key events in the financial services sector over the last seven days.

FRC overhauls Investor Stewardship Code for 2026

Published on 06 Jun 2025. By Daniel Parkin, Associate and Zoe Melegari, Senior Associate

On 3 June 2025, the Financial Reporting Council (FRC) published the UK Stewardship Code 2026 that will take effect from 1 January 2026.

FOS to consult on interest - Is 8% too high?

Published on 06 Jun 2025. By Hattie Hill, Associate

On 4 June 2025 the Financial Ombudsman Service (FOS) opened a consultation into the standard interest applied to its awards which has historically been applied at 8%.

Money Covered: The Week That Was – 30 May 2025

Published on 30 May 2025. By Rachael Healey, Partner and Robert Morris, Partner and David Allinson, Partner and George Smith, Partner and Matthew Watson, Partner

Welcome to The Week That Was, a round-up of key events in the financial services sector over the last seven days.

Money Covered: The Week That Was – 23 May 2025

Published on 23 May 2025. By Rachael Healey, Partner and Robert Morris, Partner and David Allinson, Partner and George Smith, Partner and Matthew Watson, Partner

Welcome to The Week That Was, a round-up of key events in the financial services sector over the last seven days.

Money Covered: The Week That Was – 16 May 2025

Published on 16 May 2025. By Rachael Healey, Partner and Robert Morris, Partner and David Allinson, Partner and George Smith, Partner and Matthew Watson, Partner

Welcome to The Week That Was, a round-up of key events in the financial services sector over the last seven days.

Money Covered: The Week That Was – 9 May 2025

Published on 09 May 2025. By Rachael Healey, Partner and Robert Morris, Partner and David Allinson, Partner and George Smith, Partner and Matthew Watson, Partner

Welcome to The Week That Was, a round-up of key events in the financial services sector over the last seven days.

Money Covered: The Week That Was – 25 April 2025

Published on 25 Apr 2025. By Rachael Healey, Partner and Robert Morris, Partner and David Allinson, Partner and George Smith, Partner and Matthew Watson, Partner

Welcome to The Week That Was, a round-up of key events in the financial services sector over the last seven days.

Money Covered: The Week That Was – 17 April 2025

Published on 22 Apr 2025. By Rachael Healey, Partner and Robert Morris, Partner and David Allinson, Partner and George Smith, Partner and Matthew Watson, Partner

Welcome to The Week That Was, a round-up of key events in the financial services sector over the last seven days.

Money Covered: The Week That Was – 11 April 2025

Published on 11 Apr 2025. By Rachael Healey, Partner and Robert Morris, Partner and David Allinson, Partner and George Smith, Partner and Matthew Watson, Partner

Welcome to The Week That Was, a round-up of key events in the financial services sector over the last seven days.

Money Covered: The Week That Was – 4 April 2025

Published on 04 Apr 2025. By Rachael Healey, Partner and Robert Morris, Partner and David Allinson, Partner and George Smith, Partner and Matthew Watson, Partner

Welcome to The Week That Was, a round-up of key events in the financial services sector over the last seven days.

Money Covered: The Week That Was – 28 March 2025

Published on 28 Mar 2025. By Rachael Healey, Partner and Robert Morris, Partner and David Allinson, Partner and George Smith, Partner and Matthew Watson, Partner

Welcome to The Week That Was, a round-up of key events in the financial services sector over the last seven days.

Money Covered: The Week That Was - 28 February 2025

Published on 28 Feb 2025. By Rachael Healey, Partner and Robert Morris, Partner and David Allinson, Partner and George Smith, Partner

Welcome to The Week That Was, a round-up of key events in the financial services sector over the last seven days.

Money Covered: The Week That Was – 14 February 2025

Published on 14 Feb 2025. By Rachael Healey, Partner and Robert Morris, Partner and David Allinson, Partner and George Smith, Partner and Matthew Watson, Partner

Welcome to The Week That Was, a round-up of key events in the financial services sector over the last seven days.

Money Covered: The Week That Was - 31 January 2025

Published on 31 Jan 2025. By Rachael Healey, Partner and Robert Morris, Partner and David Allinson, Partner and George Smith, Partner

Welcome to The Week That Was, a round-up of key events in the financial services sector over the last seven days.

Money Covered: The Week That Was – 10 January 2025

Published on 10 Jan 2025. By Rachael Healey, Partner and Robert Morris, Partner and David Allinson, Partner and George Smith, Partner and Matthew Watson, Partner

Welcome to The Week That Was, a round-up of key events in the financial services sector over the last seven days.

FOS complaints on the rise – is enough being done?

Published on 07 Jan 2025. By David Allinson, Partner and Damien O'Malley, Associate

The Financial Ombudsman Service (FOS) has recently published its yearly complaint data, revealing that complaints regarding fraud, scams, current accounts and credit cards between July and September 2024 hit record levels, rising more than 50% compared to the same period in 2023. The data provides a breakdown of the areas where complaints appear to have increased the most.

Money Covered: The Week That Was – 22 November 2024

Published on 22 Nov 2024. By Rachael Healey, Partner and Robert Morris, Partner and David Allinson, Partner and George Smith, Partner and Matthew Watson, Partner

Welcome to The Week That Was, a round-up of key events in the financial services sector over the last seven days.

Money Covered: The Week That Was - 1 November

Published on 01 Nov 2024. By Rachael Healey, Partner and Robert Morris, Partner and David Allinson, Partner and George Smith, Partner

Welcome to The Week That Was, a round-up of key events in the financial services sector over the last seven days.

The 'Audit Reform and Corporate Governance Bill': Momentum for legislative reform continues, but what does the proposed legislation mean for management liability?

Published on 09 Oct 2024. By Mike Newham, Partner and Victoria Lawman, Trainee Solicitor and Aimee Talbot, Knowledge Lawyer

We consider what we know about the proposed Audit Reform and Corporate Governance Bill.

Money Covered: The Week That Was – 10 May

Published on 10 May 2024. By Rachael Healey, Partner and Robert Morris, Partner and David Allinson, Partner and George Smith, Partner

Welcome to The Week That Was, a round-up of key events in the financial services sector over the last seven days.

Money Covered: The Week That Was – 3 May

Published on 03 May 2024. By Rachael Healey, Partner and Robert Morris, Partner and David Allinson, Partner and George Smith, Partner

Welcome to The Week That Was, a round-up of key events in the financial services sector over the last seven days.

Money Covered: The Week That Was – 26 April

Published on 26 Apr 2024. By Rachael Healey, Partner and Robert Morris, Partner and David Allinson, Partner and George Smith, Partner

Welcome to The Week That Was, a round-up of key events in the financial services sector over the last seven days.

Money Covered: The Week that Was - 19 April

Published on 19 Apr 2024. By Rachael Healey, Partner and Robert Morris, Partner and David Allinson, Partner and George Smith, Partner

Welcome to The Week That Was, a round-up of key events in the financial services sector over the last seven days.

Money Covered: The Week that Was - 25 August

Published on 25 Aug 2023. By Rachael Healey, Partner and Robert Morris, Partner and David Allinson, Partner and George Smith, Partner

Welcome to The Week That Was, a round-up of key events in the financial services sector over the last seven days.

Money Covered: The Week that Was - 04 August

Published on 04 Aug 2023. By Rachael Healey, Partner and Robert Morris, Partner and David Allinson, Partner and George Smith, Partner

Welcome to The Week That Was, a round-up of key events in the financial services sector over the last seven days.

Fix up, look sharp: FRC update

Published on 01 Aug 2023. By Will Sefton, Partner, Head of the Lawyers Liability and Regulatory Group and Aimee Talbot, Knowledge Lawyer

What's the latest on fixed recoverable costs in professional negligence claims?

Money Covered: The Week that Was - 28 July

Published on 28 Jul 2023. By Rachael Healey, Partner and Robert Morris, Partner and David Allinson, Partner and George Smith, Partner

Welcome to The Week That Was, a round-up of key events in the financial services sector over the last seven days.

Money Covered: The Week that Was - 07 July

Published on 07 Jul 2023. By Rachael Healey, Partner and Robert Morris, Partner and David Allinson, Partner and George Smith, Partner

Welcome to The Week That Was, a round-up of key events in the financial services sector over the last seven days.

FOS proposals to clear the back-log - attractive or not?

Published on 18 Oct 2021. By Rachael Healey, Partner

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.

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, Partner, Insurance Sector Lead

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.

What is a foundational model?

Published on 11 Jun 2025. By Caroline Tuck, Partner and Joshy Thomas, Senior Knowledge Lawyer and Rory Graham, Associate

Part 1 - UK AI regulation

Published on 11 Jun 2025. By Caroline Tuck, Partner and Praveeta Thayalan, Senior Knowledge Lawyer and Ricky Cella, Senior Associate

There has been consistent messaging from the UK Conservative-led government that the UK has decided to adopt a light touch approach to regulating AI. This was evident in the AI white paper published in March 2023 which outlined a principles based framework (see ['The Ethics of AI – the Digital Dilemma'] for more information about the principles themselves and see here for additional coverage of the AI white paper). The UK government held a consultation on the AI white paper in 2023 and published a response on 6 February 2024 that adds slightly more flesh to the bones of the UK framework.

The Role of AI in Disputes

Published on 10 Jun 2025. By Daniel Hemming, Partner and Ricky Cella, Senior Associate and Joshy Thomas, Senior Knowledge Lawyer

While lawyers have had various forms of AI available to them for years, it is generative AI and the development of large language models (LLMs) which is likely to represent a fundamental shift for dispute resolution. This technology now offers language capabilities that have never been seen before, and is likely to transform the way lawyers conduct proceedings.

Generative AI – Addressing Copyright

Published on 10 Jun 2025. By Ciara Cullen, Partner, Retail & Consumer Sector Lead and Joshy Thomas, Senior Knowledge Lawyer and Rory Graham, Associate

When it comes to the interaction of AI and IP rights, bar a flurry of activity surrounding the inevitable outcome by the courts in the Thaler, Dabus case (see here) and the Court of Appeal's ruling on the potential for exclusion from patentability of artificial neural networks in the Emotional Perception case, most attention has been focused on copyright issues. There are three main potentially thorny issues and all have been extensively covered by the mainstream media.