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Thinking - Blog

Regulators support government growth objective and aim to reduce regulatory burden

Published on 27 Jan 2025. By Lucy Hadrill, Associate and Whitney Simpson, Of Counsel and Jonathan Charwat, Partner

Since the general election, the new Labour government has been signalling its intentions for financial services as a key driver of its economic growth agenda and, following the Autumn Budget, HM Treasury launched a call for evidence which outlined the government's plans for its Financial Services Growth & Competitiveness Strategy (Strategy).

Thinking - Blog

FCA consults on new reporting obligations for (i) incidents and (ii) third party arrangements

Published on 16 Jan 2025. By Mark Crichard, Partner and Nigel Wilson, Of Counsel and Praveeta Thayalan, Knowledge Lawyer

On 13 December 2024, the FCA published consultation paper CP24/28 (the CP) on proposals for firms to report on operational incidents and, separately, on material third party arrangements. The CP mirrors similar proposals put forward by the PRA and Bank of England on the same day and is designed to align with current international standards (e.g. the EU Regulation on digital operational resilience (DORA)).

Thinking - Blog

Privacy developments – looking back and looking forward

Published on 19 Dec 2024. By Oliver Bray, Senior Partner and Jon Bartley, Partner and Joe Lippitt, Partner and Praveeta Thayalan, Knowledge Lawyer

In this article, we give you a high-level snapshot of the key data protection and privacy developments in the UK and EU in 2024 as well as developments we anticipate for 2025.

Thinking - Blog

Digital operational resilience: the UK regulatory landscape

Published on 15 Nov 2024. By Richard Breavington, Partner

Operational Resilience in the supply chain has become an undeniable priority for all financial service providers across the continent.

Thinking - Blog

ClientEarth challenges claims made by BlackRock in its sustainable funds

Published on 28 Oct 2024. By James Wickes, Partner and Catherine Zakarias-Welch, Knowledge Lawyer

Not only are regulators clamping down on greenwashing but, as previously highlighted, ClientEarth, a non-profit international environmental law organisation, also has this issue squarely in its sights.

Thinking - Blog

Government consults on regulation of Buy-Now Pay-Later products

Published on 25 Oct 2024. By Whitney Simpson, Of Counsel and Lucy Hadrill, Associate

In 2021, HM Treasury announced its intention to regulate certain unregulated buy-now pay-later (BNPL) products in the UK. This followed recommendations made in the Woolard Review which raised concerns about the increased use of BNPL products during the pandemic and the significant risk that these unregulated credit products could cause consumer harm.

Thinking - Blog

FCA consults on changes to the payments safeguarding regime

Published on 24 Oct 2024. By Whitney Simpson, Of Counsel and Lucy Hadrill, Associate

Under the Payment Services Regulations 2017 (PSRs) and the E-Money Regulations 2011 (EMRs) payment institutions (PIs), electronic money institutions (EMIs), small EMIs and credit unions are required to protect "relevant funds" which they receive when making a payment or in exchange for e-money that has been issued. Current safeguarding requirements are set out in the PSRs and EMRs, with guidance contained in the Financial Conduct Authority's (FCA) Approach Document.

Thinking - Blog

Uncertainty around the mandatory reimbursement cap for APP frauds – a new headache for FI firms and their insurers?

Published on 09 Sep 2024. By James Wickes, Partner and Aimee Talbot, Knowledge Lawyer

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.

Thinking - Blog

Further welcome news from the FCA – this time on co-manufacturing

Published on 08 Aug 2024. By Jonathan Charwat, Partner and Lauren Murphy, Senior Associate

Following on from our earlier blog, our review of the FCA's 'Discussion Paper' (DP24/1) continues, this time considering the rules relating to co-manufacturers of insurance products.

Thinking - Blog

Potential deregulation and a pragmatic approach to commercial insurance – welcome news from the FCA

Published on 01 Aug 2024. By Jonathan Charwat, Partner and James Houlihan, Associate

The FCA has published a 'Discussion Paper' (DP24/1) seeking feedback on its rules on commercial insurance including in respect of the types of commercial customers in-scope, co-manufacturing of products and bespoke insurance products.

Thinking - Publication

New Labour government – what is in store for the UK?

Published on 09 Jul 2024. By Rachael Healey, Partner

We have a new Labour Party government for the first time in 14 years. The new government has already made various announcements, with more set to follow in the coming days, and then we have the King’s Speech on 17 July, when the Labour Party will set out its opening legislative agenda – but what can we expect from the new government impacting services regulated by the Financial Conduct Authority, pensions and accountants?

Thinking - Blog

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.

Thinking - Blog

BHS: Key Takeaways for Insolvency Practitioners

Published on 21 Oct 2024. By Paul Bagon, Partner and Matt Ward, Associate

The dust has now settled since Justice Leech handed down his judgment on the claim issued by the liquidators of BHS against certain of its former directors for wrongful trading and misfeasance. This included a novel claim for misfeasance trading. We examine the key takeaways for insolvency practitioners (IPs) arising out of this decision in light of the significant amounts ordered to be paid by the directors personally to the high street retailer's insolvent estate for the benefit of creditors.

Thinking - Blog

Against a Backdrop of Rising Corporate Insolvencies HMRC Joint and Several Liability Notices: Should Directors be Concerned?

Published on 11 Apr 2023. By Paul Bagon, Partner and Laura Capece Galeota, Associate

It is widely anticipated that the next twelve months could be a challenging period for many businesses in the UK and that there could be a significant rise in the number of companies in financial distress.

Thinking - Blog

Silicon Valley, Signature and Credit Suisse: what do they all share(holder) in common?

Published on 28 Mar 2023. By James Wickes, Partner and Oliver Knox, Partner and Jessica Pease, Associate

In what has been termed "the biggest banking crisis since 2008", both Silicon Valley Bank (SVB) and Signature Bank have collapsed, and Credit Suisse has been rescued. Whether more banks are to follow suit is yet to be seen.

Thinking - Blog

Choppy waters ahead? The significance of Oceanfill

Published on 20 Mar 2023. By Elizabeth Alibhai, Partner and Paul Bagon, Partner and Will Beck, Of Counsel and Knowledge Lawyer

The economic outlook for the UK in 2023 remains uncertain, and more companies may need to restructure their businesses to ensure survival. This

Thinking - Blog

BTI 2014 LLC v Sequana SA and others – Supreme Court decision

Published on 06 Oct 2022. By Tim Moynihan, Partner and Harriet Ainsworth, Associate

The Judgment of the Supreme Court in BTI 2014 LLC v Sequana SA was handed down on 5 October 2022.

Thinking - Publication

Corporate bankruptcy and insolvency litigation roundtable

Published on 09 Sep 2021. By Paul Bagon, Partner

The corporate bankruptcy & insolvency litigation landscape has experienced a turbulent period over the past year and a half, largely a consequence of the extreme circumstances created by the COVID-19 pandemic. Against this backdrop, many businesses have sought arrangements and restructuring plans in an attempt to avoid corporate bankruptcy. However, as government COVID-19-related stimulus is withdrawn and the true financial impact of the pandemic becomes clear, the focus turns to which businesses will remain in crisis or fold, and which are able to restructure and survive. As the battle lines are drawn, disputes are sure to rise.

Thinking - Publication

What are the latest trends in bankruptcy and restructuring? What developments can we expect to see?

Published on 14 May 2021. By Paul Bagon, Partner and Tim Moynihan, Partner

The pandemic led to the biggest change to insolvency legislation in the UK for over 20 years.

Thinking - Publication

The UK's new restructuring plan

Published on 21 Apr 2021. By Paul Bagon, Partner and Tim Moynihan, Partner

The UK has introduced the Restructuring Plan; a new, flexible court supervised restructuring tool. The Restructuring Plan draws upon features of the existing Companies Act 2006 scheme of arrangement procedure (which remains available) but includes features which are new to the UK but similar to those under U.S. Chapter 11 bankruptcy proceedings.

Thinking - Blog

Carluccio's serves up a rescue recipe

Published on 28 Apr 2020. By Paul Bagon, Partner and Olivia Whitehead, Hospitality & Events Executive

On Friday 24 April, RPC hosted a 30 minute webinar on the interaction of furloughing and insolvency law.

Thinking - Blog

COVID-19: the supply chain

Published on 20 Apr 2020. By Paul Bagon, Partner and Tim Moynihan, Partner

Concerns regarding the strength of UK supply chains and the consequences which arise when links in the chain fail, are not new and were recently subject to significant scrutiny in the context of Brexit negotiations. But with COVID-19 causing a host of new problems for already stressed supply chains, what can businesses do to protect themselves?

Thinking - Blog

COVID-19: Good news on wrongful trading provisions but why should directors tread carefully?

Published on 09 Apr 2020. By Tim Moynihan, Partner

The Government has launched a number of initiatives to assist companies and businesses to trade through the current financial stress. But what should directors still be aware of as they steer their organisations through these unprecedented times?

Thinking - Blog

COVID-19: The suspension of wrongful trading provisions and a moratorium for businesses in restructuring – what is the likely impact on your business?

Published on 31 Mar 2020. By Paul Bagon, Partner and James Whelan, Senior Associate

COVID-19: On 28 March 2020 the Business Secretary announced further new far-reaching measures to help businesses combat the financial impact of COVID-19. What it the likely impact of the suspension of wrongful trading provisions and a moratorium for businesses in restructuring on your business?

Thinking - Publication

Restructuring and Insolvency roundup January 2018

Published on 05 Jan 2018.

In this roundup, we look at crowdfunding, a sector which continues to be of interest to practitioners giving the changing regulatory landscape and the risk to investors. Other cases we look at include cover privilege in bankruptcy, the adequacy of ATE policies, and the requirement for boards to be quorate when directors appoint administrators.

Thinking - Publication

Restructuring and insolvency roundup, July 2017

Published on 18 Jul 2017.

In this roundup, we consider four recent cases with implications for practitioners in the restructuring and insolvency sector.

Thinking - Publication

“Gagging orders”: an office holder’s secret weapon

Published on 13 Mar 2017.

Practitioners are fully aware of the extensive powers available under ss 235 and 236 of the Insolvency Act 1986 (IA 1986) allowing administrators and liquidators as office holders (OHs) to require individuals and organisations to disgorge information.

Thinking - Publication

Make insolvency great again

Published on 08 Feb 2017.

One of the great criticisms of the new President of the United States of America is that his companies filed for bankruptcy four times when he was a business mogul.

Thinking - Publication

Restructuring and insolvency December 2015

Published on 18 Dec 2015.

An update on recent changes

Thinking - Publication

Legislative changes in effect today: what IPs need to know

Published on 26 May 2015.

Previously under section 165 IA 86, liquidators in a voluntary winding up would have to seek sanction of the company (in members’ voluntary liquidation) or of the court or liquidation committee (in creditors’ voluntary liquidation) in order to exercise their powers to pay debts, compromise claims etc.

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Thinking - Podcast

The Work Couch: What's on the horizon for employment law in 2025?

Published on 22 Jan 2025.

Welcome to The Work Couch, the podcast series where we explore how your business can navigate today's tricky people challenges and respond to key developments in the ever-evolving world of employment law.

Thinking - Podcast

The Work Couch: Disability inclusion at work (Part 3): What does genuine accessibility look like? with Samantha Renke

Published on 03 Dec 2024.

Welcome to The Work Couch, the podcast series where we explore how your business can navigate today's tricky people challenges and respond to key developments in the ever-evolving world of employment law.

Thinking - Podcast

The Work Couch: Disability inclusion at work (Part 2): Narratives, reasonable adjustments, and the business case for accessibility, with Samantha Renke

Published on 27 Nov 2024.

Welcome to The Work Couch, the podcast series where we explore how your business can navigate today's tricky people challenges and respond to key developments in the ever-evolving world of employment law.

Thinking - Podcast

The Work Couch: Disability inclusion at work (Part 1): The lived experience, with Samantha Renke

Published on 20 Nov 2024.

Welcome to The Work Couch, the podcast series where we explore how your business can navigate today's tricky people challenges and respond to key developments in the ever-evolving world of employment law.

Thinking - Podcast

The Work Couch: How to tackle seven tricky disciplinary issues, with Joanna Holford

Published on 06 Nov 2024.

Welcome to The Work Couch, the podcast series where we explore how your business can navigate today's tricky people challenges and respond to key developments in the ever-evolving world of employment law.

Thinking - Podcast

The Work Couch: Employment Rights Bill: What employers need to know, with Patrick Brodie

Published on 23 Oct 2024.

Welcome to The Work Couch, the podcast series where we explore how your business can navigate today's tricky people challenges and respond to key developments in the ever-evolving world of employment law.

Thinking - Podcast

The Work Couch: Black maternal experiences and supporting colleagues, with Shanice Holder, Tinuke Awe, Clo Rebecca Abe and Tonye Alagoa

Published on 09 Oct 2024.

Welcome to The Work Couch, the podcast series where we explore how your business can navigate today's tricky people challenges and respond to key developments in the ever-evolving world of employment law.

Thinking - Podcast

Neurodiversity at work (Part 3): How to implement effective neuro-inclusion

Published on 18 Sep 2024.

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.

Thinking - Podcast

Neurodiversity at work (Part 2): The law, HR considerations and wellbeing, with Kelly Thomson and Victoria Othen

Published on 11 Sep 2024.

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.

Thinking - Podcast

Neurodiversity at work (Part 1): Myths, misconceptions and the lived experience, with Ashlea Cromby, Tracey West, Alice de Coverley and Victoria Othen

Published on 04 Sep 2024.

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.

Thinking - Blog

Myth busting and moving the dial in DEI

Published on 20 Aug 2024. By Kelly Thomson, Partner, ESG Strategy Lead and Rachel Pears, Head of Responsible Business and Katie Horn, DEIB and Responsible Business Manager (Market Facing)

This article is a summary of a session delivered by Kelly Thomson (Partner, Employment, Engagement & Equality and ESG Strategy Lead at RPC) and Rachel Pears (Head of Responsible Business at RPC), at the second Annual D&I Conference, in partnership with the British Retail Consortium (BRC). During this particular session, common myths and misconceptions surrounding Diversity, Equity and Inclusion (DEI) were discussed and different sides of various issues were dissected, drawing out the nuances of seemingly polarised positional statements. Below, we address a handful of these myths, offering a balanced perspective on the complexities of DEI and exploring how to drive meaningful progress in our organisations.

Thinking - Podcast

The Work Couch: Bonus Live episode: Exploring the cost of untapped talent, with Tskenya-Sarah Frazer, Trevor Sterling and Mark Ash

Published on 31 Jul 2024.

Welcome to The Work Couch, the podcast where we discuss all things employment.

Thinking - Podcast

Supporting and retaining Gen Z talent (Part 2): Work-life balance, communication and wellbeing, with Rose Sellman-Leava and Laura Verrecchia

Published on 24 Jul 2024.

Welcome to The Work Couch, the podcast series where we explore how your business can navigate today's tricky people challenges and respond to key developments in the ever-evolving world of employment law.

Thinking - Blog

Employer lessons from teacher's menopause bias win

Published on 17 Jul 2024. By Kelly Thomson, Partner, ESG Strategy Lead and Ellie Gelder, Senior Editor Employment & Equality

On May 31, a Scottish employment tribunal made its decision in Allison Shearer v. South Lanarkshire Council and awarded a teacher over £60,000 ($77,829) for disability discrimination and unfair dismissal, following her dismissal for ill health after a period of long¬term sickness absence.

Thinking - Podcast

The Work Couch: Supporting and retaining Gen Z talent (Part 1): Myths and opportunities, with Rose Sellman-Leava and Laura Verrecchia

Published on 10 Jul 2024.

Welcome to The Work Couch, the podcast series where we explore how your business can navigate today's tricky people challenges and respond to key developments in the ever-evolving world of employment law.

Thinking - Podcast

The Work Couch: AI (Part 3): The role of emotional intelligence and AI's impact on wellbeing, with Jake Wall and Patrick Brodie

Published on 26 Jun 2024.

Welcome to The Work Couch, the podcast series where we explore how your business can navigate today's tricky people challenges and respond to key developments in the ever-evolving world of employment law.

Thinking - Podcast

The Work Couch: AI (Part 2): Privacy, bias, and discrimination

Published on 13 Jun 2024.

Welcome to The Work Couch, the podcast series where we explore how your business can navigate today's tricky people challenges and respond to key developments in the ever-evolving world of employment law.

Thinking - Podcast

AI (Part 1): Impact on litigation, responsible use and the regulatory landscape

Published on 29 May 2024.

Welcome to The Work Couch, the podcast series where we explore how your business can navigate today's tricky people challenges and respond to key developments in the ever-evolving world of employment law.

Thinking - Podcast

The Work Couch: Mental health at work (Part 4): Mental health first aid, with Simon Blake OBE

Published on 22 May 2024.

We are marking Mental health awareness week this month by devoting a four-part mini-series to mental health at work. In our concluding episode this week, Ellie is joined by Simon Blake OBE, Chief Executive at Mental Health First Aid England to explain the role of mental health first aid in the workplace.