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Government consults on regulation of Buy-Now Pay-Later products
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.
Read moreFCA consults on changes to the payments safeguarding regime
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.
Read moreHow should Financial Institutions manage the rise of non-financial misconduct?
Over the last few months, Parliament's Treasury Committee has sought to examine the many barriers faced by women in financial services through the aptly named "Sexism in the City" inquiry.
Read moreQuid game – fixed costs; pick your battles
Ordinarily, the claims that make the headlines are those that have the highest value or the most significant impact on the public. With the costs landscape ever-changing in civil claims, without careful planning and strategy, even modest claims can end up biting defendants in the longer-term.
Read moreCastle caper condoned? Court of Appeal rules on dishonest condonation and aggregation under solicitors policy in Discovery Land v AXIS
On 15 January 2024 the Court of Appeal handed down judgment in Discovery Land Company LLC and others v Axis Specialty Europe SE [2024] EWCA Civ 7. The case concerns the ability of a solicitors’ insurer to decline cover for a claim on grounds of dishonesty and, in particular, the meaning of “condonation” of dishonesty. It also concerns how the aggregation clause operates in a solicitors’ professional indemnity insurance policy.
Read moreLaw passed to regulate Significant Investments in Singapore Entities
The Significant Investments Review Bill (the "Bill") was recently passed by Parliament on 9 January 2024, and is expected to take effect in the first half of the year.
Read moreThe Terminator: A Tale of Two Insurance Claims
It is 2029, and the Machines are losing their war with Humanity. What to do?
Read moreProject Angel Bidco v AXIS - what are the key takeaways for warranty and indemnity insurers?
On 31 October 2023, the London Circuit Commercial Court gave judgment in Project Angel Bidco Limited (in administration) v Axis Managing Agency Limited & Ors (2023) EWHC 2649.
Read moreWordings do matter
Contract drafting has been brass tacks for lawyers since the dawn of time. In its broadest terms, it involves putting the scope of a bargain reached between parties into clear and effective language.
Read moreStorm Babet, flooding and the insurance implications
Subtropical cyclone Storm Babet is currently responsible for over 350 flood warnings in the UK, with more flood warnings expected later this week.
Read moreGetting to know Global Access Lawyers
Global Access Lawyers brings together some of the worlds leading insurance law practices. In the following pages get to know the different law firms that make up Global Access, who we are, where we operate and the kind of work we do. We hope you find this useful to understand the international reach of Global Access.
Read moreCourt of Appeal finds in favour of FSCS on scope of the Policyholder Protection Rules (PRR)
The Court of Appeal has upheld an appeal by the FSCS from a High Court decision to grant an application for JR against FSCS following FSCS's refusal to compensate a policyholder for an insolvent insurer's failure to meet its liabilities.
Read moreWhat does the FRC's proposed corporate governance overhaul mean for D&O exposures?
The Financial Reporting Council (FRC) has now published the draft new UK Corporate Governance Code following the Government's requirements that it incorporate more robust internal control and prudent and effective risk management requirements. The deadline for responses to the FRC's consultation is 13 September 2023.
Read moreConsumer duty and claims handling – beware of sludge practices
The Consumer Duty is a new regulatory framework developed by the Financial Conduct Authority (FCA) aimed at creating a higher standard of consumer protection in the retail markets. The FCA expects the Consumer Duty to be a significant shift for the market in terms of its expectations on firms and in this blog we consider this shift in the context of insurance claims handling.
Read moreFOS complaints and hindsight – categorical statement from the Chief Ombudsman
The FCA has been producing a range of temporary measures with the aim of ensuring that firms can work at pace during the pandemic for the benefit of customers. However, where procedures are bypassed or corners cut what will FOS do in response? The response from FOS to that questions raises another – the use of hindsight when coming to its decisions.
Read moreBossing the rules
Watch out for RPC's new blog mini-series on the SRA Standards and Regulations 2019.
Read moreFCA issues Final Report in the Wholesale Insurance Broker Market Study
Today, the FCA released its Final Report in its Wholesale Insurance Broker Market Study. The study, which was launched in 2017, considered competition, transparency and conflicts concerns arising from changes in the market, including an increased use of broker facilities.
Read moreAccountants, auditors and actuaries beware: the FRC continues to show its teeth, as its future stands in the balance
In widely publicised news, the Financial Reporting Council (FRC) continues to levy record high fines and has cast criticism on a number of firms. What appears to be an unforgiving stance taken by the regulator seems to come in the wake of the review into whether or not it should be disbanded, or folded into another regulatory organisation.
Read moreThe future of SIPPs – FCA responds to the Work and Pensions Committee
A couple of weeks ago we reported on 5 pointed questions raised by the Work and Pensions Committee of the FCA in relation to the SIPP market. Those questions included whether or not the FCA was considering banning non-standard investments in SIPPs. The FCA has now responded. The response includes the FCA's views on the due diligence it expects of SIPP providers when it comes to non-standard investments.
Read morePRA consultation to promote diversity on boards of large insurers
The PRA consults on further amendments to the Senior Insurance Managers Regime (SIMR) including promoting diversity on boards.
Read moreHealth and Safety Bulletin – September 2024
Welcome to this month's health and safety update, keeping you updated with a round-up of the latest fines, sentences, and environmental news.
Read moreHealth and Safety Bulletin – March 2024
Welcome to this month's health and safety update. View the headlines below or click the pdf at the bottom of the page to read the full articles.
Read moreHealth and Safety Bulletin – August 2023
Welcome to this month's health and safety update. View the headlines below or click the pdf at the bottom of the page to read the full articles.
Read moreHealth and Safety Bulletin – November 2022
Welcome to this month's health and safety update. View the headlines below or click the pdf at the bottom of the page to read the full articles.
Read moreHealth and Safety Bulletin – February 2022
Welcome to this month's health and safety update. View the headlines below or click the pdf at the bottom of the page to read the full articles.
Read moreHealth and safety update - June 2021
Welcome to this month's health and safety update. View the headlines below or click the pdf at the bottom of the page to read the full articles.
Read moreHealth and safety update - September 2020
Welcome to this month's health and safety update. View the headlines below or click the pdf at the bottom of the page to read the full articles.
Read moreCOVID-19 Secure – Government Guidance released
Following Prime Minster Boris Johnson's announcement on Sunday 10 May about limited easing lockdown restrictions, the government published various guidance documents to businesses on 11 May to assist with the process of returning to work.
Read moreHealth and safety update December 2019
Welcome to our December 2019 health and safety update where we look at the health and safety stories that have recently hit the headlines as well as the latest fines and sentences that have been handed down.
Read moreHealth and safety update September 2019
Welcome to our September 2019 health and safety update where we look at the health and safety stories that have recently hit the headlines as well as the latest fines and sentences that have been handed down.
Read moreHealth and safety update June 2019
Welcome to our June 2019 health and safety update where we look at the health and safety stories that have recently hit the headlines as well as the latest fines and sentences that have been handed down.
Read moreHealth and safety update March 2019
Welcome to our March 2019 health and safety update where we look at the health and safety stories that have recently hit the headlines as well as the latest fines and sentences that have been handed down.
Read moreHealth and safety update December 2018
Welcome to the latest edition of our health and safety update where we look at the health and safety stories that have recently hit the headlines as well as the latest fines and sentences that have been handed down.
Read moreHealth and safety update September 2018
Welcome to the latest edition of our health and safety update where we look at the health and safety stories that have recently hit the headlines as well as the latest fines and sentences that have been handed down.
Read moreHealth and safety update June 2018
Welcome to the latest edition of our health and safety update where we look at the health and safety stories that have recently hit the headlines as well as the latest fines and sentences that have been handed down.
Read moreHealth and safety update March 2018
Welcome to the latest edition of our health and safety update where we look at the health and safety stories that have recently hit the headlines as well as the latest fines and sentences that have been handed down.
Read moreHealth and safety update December 2017
Welcome the the latest edition of our Health and safety update, where we look at the health and safety stories that have recently hit the headlines as well as well as the latest fines and sentences that have been handed down.
Read moreHealth and safety law update, December 2016
Welcome to the December issue of our Health & Safety law update.
Read moreHealth and Safety update, September 2016
This edition includes details of Merlin Attractions' £5 million fine following the Smiler crash in 2015 at Alton Towers, in addition to the latest case law and health & safety news.
Read moreNational Grid Gas plc hit with £2m fine for health and safety breach
National Grid Gas plc hit with £2m fine for health and safety breach
Read moreTake 10 - 20 December 2024
Welcome to RPC's Media and Communications law update. This month's edition on key media developments and the latest cases.
Read moreSnapshots Winter 2024
A roundup of key legal developments for the modern commercial lawyer.
Read moreTake 10 - 6 December 2024
Welcome to RPC's Media and Communications law update. This month's edition on key media developments and the latest cases.
Read moreTake 10 - 21 November 2024
Welcome to RPC's Media and Communications law update. This month's edition on key media developments and the latest cases.
Read moreTake 10 - 8 November 2024
Welcome to RPC's Media and Communications law update. This month's edition on key media developments and the latest cases.
Read moreSnapshots Autumn 2024
A roundup of key legal developments for the modern commercial lawyer.
Read moreTake 10 - 14 October 2024
Welcome to RPC's Media and Communications law update. This month's edition on key media developments and the latest cases.
Read moreSnapshots Summer 2024
A roundup of key legal developments for the modern commercial lawyer.
Read moreTake 10 – 26 July 2024
Welcome to RPC's Media and Communications law update. This month's edition on key media developments and the latest cases.
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