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Takeover Code: What has changed?
On 5 July 2021, the most significant changes to the Takeover Code (the Code) since 2011 took effect. The changes are intended to standardise the treatment of regulatory clearances and simplify the offer timetable. An overview of the main changes is set out below.
Read moreUK Listing Review wants companies to stay at home
Recommendations will make it easier to list and fundraise on the London Stock Exchange
Read moreTime for public companies to come clean: New UK climate-related disclosures and ESG guidance
Companies listed on the London Stock Exchange's Main Market will need to include a statement in their annual report confirming if they have made climate-related disclosures consistent with the recommendations of Task Force on Climate-related Financial Disclosures (TCFD). Companies planning to IPO, or move from AIM to the Main Market, are also affected by these new Listing Rules.
Read moreHow to comply with the FCA's new diversity and inclusion targets for listed companies
The FCA has finalised its new rules on diversity and inclusion on listed company boards and executive committees. The rules, which are set out in the FCA's policy paper PS22/3: Diversity and inclusion on company boards and executive management, are substantially in line with the proposals set out in the FCA's consultation paper CP 21/24. In scope listed companies are required to include a statement in their annual financial report on whether they have met specific board diversity targets on a ‘comply or explain’ basis, as at a chosen reference date within their accounting period.
Read moreLloyd's' focus on a more sustainable future
Lloyd's published its first Environmental, Social and Governance (ESG) Report at the end of last year and while this is a fairly new focus area for Lloyd's it noted that: a) in its history it has a long record of contributing to communities and helping them to recover from disaster; and b) the role that insurance plays in protecting society and supporting global economic growth.
Read moreThe rise of ESG finance
ESG (Environmental, Social and Governance) finance remains a hot topic and continues to grow rapidly, with Bloomberg predicting the $2.2 trillion ESG debt market to hit $11 trillion by 2025, based on the rate of growth during the past five years.
Read moreBalance on the board: Eight things UK PLCs need to know about the FCA's diversity targets
The Financial Conduct Authority's proposals will mean UK listed companies need to disclose whether their boards and senior management teams meet new gender and ethnic diversity targets.
Read moreTime for public companies to come clean: New UK climate-related disclosures and ESG guidance
Companies listed on the London Stock Exchange's Main Market will need to include a statement in their annual report confirming if they have made climate-related disclosures consistent with the recommendations of Task Force on Climate-related Financial Disclosures (TCFD). Companies planning to IPO, or move from AIM to the Main Market, are also affected by these new Listing Rules.
Read moreSilicon Valley, Signature and Credit Suisse: what do they all share(holder) in common?
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.
Read moreNew Digital Regulators on the 2023 Horizon: the Digital Markets Unit and the European Centre for Algorithmic Transparency
For a number of years, the UK Government has been laying the groundwork to bring in a digital markets regime to regulate digital firms designated as having ‘strategic market status’ (SMS). To be designated as having SMS, a firm must have 'substantial and entrenched market power' in at least one activity. Companies having SMS are likely to include the largest tech firms such as Amazon, Apple, Google, Microsoft and Meta (the so called 'GAMMA' firms).
Read moreDigital services providers—Commission to focus on implementation phase of EU consumer protection legislation
The Digital Services Act (DSA) and the Digital Markets Act (DMA) are published in the Official Journal and the plenary vote of the European Parliament on the proposed text of the AI Act is expected once amendments are agreed by negotiators. The Commission is now turning its focus to the implementation phase of these landmark regimes. So, what does the future hold for the European tech sector and how might it differ for the UK?
Read moreThe EU Digital Markets Act - a focus on gatekeeper obligations and sanctions
What key obligations will the Digital Markets Act (DMA) impose on online platforms designated as gatekeepers?
Read moreWhat if the CEO asks me... about ESG-linked financing facilities
As focus moves from short term lockdown liquidity on to longer term financing needs, loan facilities linked to ESG and sustainability targets are back in the news.
Read moreThe Corporate Sustainability Due Diligence Directive expert briefing
The Corporate Sustainability Due Diligence Directive (CSDDD) was adopted on 24 May 2024 and was published in the Official Journal of the EU on 5 July. This means the law will enter into force 20 days later on 26 July, and will apply to companies from 2027.
Read moreEBA encourages banks to pool their resources for cloud audits
The EBA has set out that banks are no longer required to provide their auditors (or themselves) with an independent right to audit their cloud service providers.
Read moreAI in auditing: Embracing a new age for the profession
Artificial Intelligence (AI) is a rather new concept for many (ignoring those versed in 80’s Sci-Fi movies); it’s something many don’t know much about and certainly don’t use in our day-to-day lives (or at least appreciate we are using). However, that’s not the case for everyone. Auditors have long been reaping the benefits of AI, but are auditors just scratching the surface of what AI can offer and what impact will an increased use have on their insurance requirements and claims they face?
Read moreThaler v Comptroller [2023] UKSC 49: the UKSC rules that AI cannot be an 'inventor'
To the surprise of no one, the UK Supreme Court (UKSC) has finally ruled that an artificial intelligence (AI) cannot be an inventor for the purposes of UK patent law. This judgment accords with the decisions of the lower courts in the UK and the initial ruling of the UKIPO. It also reflects similar findings from most of courts around the world where the claimant, Dr Thaler, brought similar actions.
Read moreAI and ChatGPT in Law firms
First published by 39 Essex Chambers, in this episode Patrick Brodie, Head of Employment, Engagement and Equality at law firm, RPC, discusses with Katherine Apps KC the issues raised by the use of large language models (LLMs) such as ChatGPT in a law firm environment.
Read moreUnlocking Generative AI’s Potential: Ethics, Creativity, and Impact
What if you could unlock the full potential of Generative AI and its impact on your life and company?
Read moreThe "Unicorn Kingdom's" AI White Paper
The UK's pro-innovation AI White paper has been published. It landed almost simultaneously with an open letter from the Future of Life Institute which called for a six-month halt in work on AI systems more powerful than the generative AI system: GPT-4.
Read moreGenerative AI and intellectual property rights—the UK government's position
The IPO is to produce a code of practice by the summer that will provide guidance to support AI firms in accessing copyright protected works as an input to their models.
Read moreUnderstanding and managing the risks in artificial intelligence (AI) technology projects
How do you go about managing the risks and challenges that might arise during the deployment of AI technology?
Read moreRetail Compass Spring 2024
Welcome to the Spring edition of Retail Compass, where we guide you through key upcoming legal and policy changes affecting retailers and consumer brands and provide our thoughts on those crucial, need-to-know issues.
Read more12 top tips for using AI in retail and consumer businesses
Last year, we set out our top ten tips for retailers entering the metaverse. This year, AI is the hot topic in retail and pretty much everywhere else! AI is redefining the retail and consumer industry. It can improve consume engagement, aid decision-making, curate tailored promotions, improve efficiencies, and reduce costs. So what do retailers and consumer bran need to be mindful of when deploying AI?
Read moreRetail Compass Autumn 2023
Welcome to our Autumn edition of Retail Compass, where we guide you through the key legal and policy changes affecting retail and consumer brands and provide our thoughts on those crucial, need-to-know issues.
Read moreRetail Compass Spring 2023
Welcome to our Spring edition of Retail Compass, where we guide you through the key legal and policy changes affecting retail and consumer brands and provide our thoughts on those crucial, need-to-know issues.
Read moreWhat if the CEO asks me about... using Artificial Intelligence in our Retail stores?
The term "artificial intelligence" (AI) describes a range of technologies that enable machines to perform tasks that typically require human intelligence, such as the ability to comprehend, act and learn.
Read moreOfcom's 'Roadmap to Regulation' underway with its consultation on illegal harms duties under the Online Safety Act
In November, Ofcom, as new online safety regulator, published the first of four major consultations under the Online Safety Act ("OSA"), which sets out its proposals for how "user-to-user" ("U2U") services (essentially any online website or app that allows users to interact with each other) and online search services (i.e. Google, Bing and similar) should approach their illegal content duties under the new legislation. The consultation provides guidance in a number of areas including governance, content moderation, reporting and complaints mechanisms, terms of service, supporting child users, and user empowerment.
Read moreThe Online Safety Bill is set to become law
The Online Safety Bill will shortly become law in the UK as soon as it receives Royal Assent. The legislation will introduce a new regulatory regime for online platforms and search engines which target the UK, imposing wide-ranging obligations on in-scope services with serious consequences for non-compliance.
Read moreThe Online Safety Bill and the risk of unintended consequences
The Online Safety Bill was reintroduced to Parliament late last year, with new amendments receiving scrutiny in the House of Commons in December, before the bill entered the House of Lords in January. The bill continues to evolve, most notably with the government removing the requirement for user-to-user platforms and search engines to prevent adult users from encountering "legal but harmful" content, instead requiring online platforms to provide users with enhanced content controls (i.e., choice as to what content is seen), and imposing further obligations around transparency and enforcement of online platforms' terms and conditions. "Legal but harmful" obligations remain in place for under 18s. The government has recently agreed to introduce criminal sanctions for senior managers who fail to take proportionate measures to protect children from potentially harmful content.
Read moreUK Government sets out proposals for regulation of AI
What are the UK Government’s plans for the future regulation of artificial intelligence (AI)?
Read moreICO launches AI and Data Protection Toolkit
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?
Read moreUK government announces the launch of an AI standards hub
What does the new artificial intelligence (AI) standards hub mean for businesses seeking to develop AI technologies?
Read moreUK authorities consider position of AI in preparation for a new Golden Age of Tech
The question: What direction is the UK taking regarding policies on artificial intelligence (AI)?
Read more'Popping to the shop' a thing of the past?
Have you noticed that overnight, seemingly every poster on London's streets and billboard in its tube stations advertise a service that will magic groceries to your front door in an impossibly short timeframe? These are signifiers of the battle being fought in the instant grocery delivery space.
Read more'Nosecco' is a no-no, says the High Court
In recent years, health and wellbeing has been big business in the UK. The COVID-19 outbreak has only further stoked the desire to obtain and maintain healthy minds and bodies and the trend looks set to continue, across the retail sector.
Read moreThe ASA bites back – Burger King 'Rebel Whopper' ads ruled to be misleading and in breach of advertising rules
At the start of the year, Veganuary hit the headlines, with the British public challenged to ditch animal by-products in favour of a plant-based diet for the month of January.
Read moreLook to the future: Trainees take on 2019
The trainees didn't fare too badly with their 2018 predictions. They doubted England's ability to make it past the group stages of the World Cup, but foresaw how Brexit would dominate the news agenda. They over-optimistically predicted the introduction of automated bundling, but came very close on the value of Bitcoin. Read on to see this year's predictions.
Read moreCan the WTO assist British trade post-Brexit?
The World Trade Organisation (WTO) has been in the press recently perhaps more than it would like, with concerns being raised about whether its rules would be sufficient to maintain British trade in the event of a "hard Brexit". But what is the WTO, and how does it deal with disputes?
Read moreBrexit - a legal analysis: Competition
The implications for competition law and practice will very much depend on what form of Brexit the UK will end up negotiating. At one end of the spectrum the UK could join the European Free Trade Association and the European Economic Area, an avenue that is likely to generate the fewest changes. If the UK were to seek a total exit, falling back on World Trade Organisation (“WTO”) rules to continue trading with the EU, the potential changes would be more wide-ranging as outlined below.
Read moreBrexit - a legal analysis: IP rights
IP rights in the UK are all influenced and moulded to a greater or lesser degree by European law.
Read moreGoing Green – staying on the right side of competition law
Environmental issues are high on the agenda for many consumers and businesses alike. They are also increasingly an area of focus for competition authorities around the world, including the Competition and Markets Authority (CMA), who are keen to ensure that competition law concerns do not unnecessarily prevent businesses from collaborating legitimately on environmental sustainability initiatives.
Read moreAccessory liability: when will directors be held liable for IP infringements committed by their companies – and what is counted as "profits"?
The Supreme Court in Lifestyle Equities CV & Anor v Ahmed & Anor [2024] UKSC 17, has allowed an appeal by two company directors who were found liable as accessories to trade mark infringement by the company in which they were directors. The decision provides helpful clarification on the required elements for accessory liability in the context of IP right infringement claims and confirms the sums to be included in an account of profits if liability is established (spoiler alert: a director's salary is not considered to be "profit").
Read moreOnline platforms should Swatch out: Samsung found liable for infringing third-party content available on the Samsung Galaxy App store
The Court of Appeal in Montres Breguet SA v Samsung Electronics [2023] EWCA Civ 1478 has dismissed Samsung's appeal and upheld a first instance decision which found it liable for trade mark infringement in relation to third-party watch faces available on the Samsung Galaxy App store. This judgment provides guidance on what constitutes "use" of a sign by an online app store and the applicability of the e-Commerce Directive hosting defence.
Read moreGreen claims update: June 2024
Welcome to our round-up of the key legal and regulatory developments relating to green claims.
Read moreEnvironmental sustainability: a snapshot of a changing regulatory landscape
Sophie Tuson charts the key legal developments in the UK and EU across the product lifecycle and flags practical considerations for businesses.
Read moreContext is everything – key takeaways on green claims from the CMA's recent consumer law conference
On 28 June 2023, the Competition and Markets Authority (CMA) held a highly anticipated conference on consumer law and enforcement. RPC's Senior Partner Oliver Bray was invited to speak on green claims alongside a stellar panel comprising Anna Jewitt (CMA), Justine Grimley (Advertising Standards Authority (ASA)), Tim Rowe (Financial Conduct Authority), and Rupert Earle (Bates Wells).
Read moreClimate-related financial disclosures: what companies and LLPs need to know about the UK's new mandatory rules
The UK's new climate-related financial disclosures: mandatory requirements to come clean
Read moreA look at climate insurance (With Richard Matsui)
Welcome to Insurance Covered, the podcast that covers everything insurance. In this episode Peter is joined by Richard Matsui, Co-founder of kWh Analytics, and they will be discussing the insurance of renewable energy sources with a particular focus on solar power.
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