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AI technology projects – the regulatory landscape

Published on 24 Feb 2023. By Helen Armstrong, Partner and Ricky Cella, Senior Associate and Joshy Thomas, Knowledge Lawyer

Parties engaged in AI technology projects should be mindful of the regulatory landscape, and the changes taking place within it. A failure to do so could result in an AI solution that is not compliant from a regulatory perspective, the use of which potentially creates risk for the technology provider and user.

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 and Head of Professional and Financial Risks 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 Cory Gilbert-Haworth, Associate and 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.

Property Digital Rights – A New Revenue Stream in a Digital World

Published on 13 Jul 2023. By Elizabeth Alibhai, Partner

Advances in technology are opening up exciting new frontiers for property owners and managers. Almost two billion people globally use augmented reality (AR) on their mobile phones and nearly 400 million engage in a virtual metaverse reality.

Accessory liability: when will directors be held liable for IP infringements committed by their companies – and what is counted as "profits"?

Published on 20 Jun 2024. By Emma Dunnill, Senior Associate and Rory Graham, Associate

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").

Online platforms should Swatch out: Samsung found liable for infringing third-party content available on the Samsung Galaxy App store

Published on 22 Jan 2024. By Sarah Mountain, Partner and Emma Dunnill, Senior Associate and Zoe Harvey, Associate

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.

The Sky's the limit for trade mark applications. Or is it?

Published on 12 Jul 2023. By Sarah Mountain, Partner and Ellie Chakarto, Associate and Noonie Holmes, Associate

Green claims update: June 2024

Published on 02 Jul 2024. By Oliver Bray, Senior Partner and Ciara Cullen, Partner and Hettie Homewood , Senior Associate and Sophie Tuson, Senior Associate

Welcome to our round-up of the key legal and regulatory developments relating to green claims.

Environmental sustainability: a snapshot of a changing regulatory landscape

Published on 01 Jul 2024. By Sophie Tuson, Senior Associate

Sophie Tuson charts the key legal developments in the UK and EU across the product lifecycle and flags practical considerations for businesses.

Context is everything – key takeaways on green claims from the CMA's recent consumer law conference

Published on 18 Jul 2023. By Oliver Bray, Senior Partner and Hettie Homewood , Senior Associate and Praveeta Thayalan, Knowledge Lawyer

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).

Climate-related financial disclosures: what companies and LLPs need to know about the UK's new mandatory rules

Published on 10 May 2022.

The UK's new climate-related financial disclosures: mandatory requirements to come clean

A look at climate insurance (With Richard Matsui)

Published on 20 Apr 2022.

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.

'Big Plastic' is an emerging climate risk and a ticking time-bomb for litigation

Published on 14 Apr 2022. By Lucy Dyson , Partner

The tangible commitment to plastics regulation and action will likely trigger a new wave of plastics-related litigation.

Insurers need their own Hippocratic Oath

Published on 22 Mar 2022. By Simon Laird, Global Head of Insurance and Peter Mansfield, Partner

Does insurance have a role to play in setting the ethical standard for corporate ESG and promoting a ‘do no harm’ philosophy?"

ESG claims in the banking and financial markets Sector: will "greenwashing" claims soon be common in the UK?

Published on 14 Feb 2022. By Chris Ross, Partner

Environmental, Social and Governance "ESG" funds are an attractive avenue for investors seeking responsible investment choices.

A look at sustainable insurance (a podcast with Julian Richardson)

Published on 20 Jan 2022.

Welcome to Insurance Covered, the podcast that covers everything insurance. In this episode Peter is joined by Julian Richardson, CEO of Parhelion Underwriting and our topic for this episode is sustainable insurance.

A look at Flood Re (a podcast with Andy Bord)

Published on 22 Dec 2021.

Welcome to Insurance Covered, the podcast that covers everything insurance. In this episode Peter is joined by Andy Bord, CEO of Flood Re, a specialist UK reinsurer of flood risks. In this episode we will be discussing all things Flood Re.

What if the CEO asks me... about ESG-linked financing facilities

Published on 28 Sep 2021. By Edward Colville, Partner and Sukh Ahark, Partner, Co-head of India Desk

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.

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.

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

Published on 06 Oct 2022. By Tim Moynihan, Partner

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

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.

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.

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.

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?

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?

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?

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.

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.

“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.

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.

Restructuring and insolvency

Published on 18 Dec 2015.

An update on recent changes

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.

The summer of discontent?

Published on 31 Jul 2020. By Kelly Thomson, Partner, ESG strategy lead and Ben Roberts, Partner

What comes to mind when you hear the word "summer"? The unbridled joy of no more school for 6 whole weeks? Buckets, spades and wind-swept beaches? Perhaps the call of a sun-soaked tropical island? For most, summer means taking some time out to recharge and switch off.

Stamp duty land tax (SDLT) avoidance and corporate property deals – the importance of timing!

Published on 21 May 2019. By Ben Roberts, Partner

The First-Tier Tribunal has, in a recent decision, caused something of a stir for clients and advisors familiar with the well-trodden (and, usually, tax-efficient) use of offshore unit trusts to hold UK property.

No bouncing back for directors

Published on 20 May 2024. By James Wickes, Partner and Adam Craggs, Partner and Catherine Zakarias-Welch, Knowledge Lawyer

Banned! Fraudsters! – Terms used by the Insolvency Service for directors who abused the government backed loan scheme which was put in place to help businesses struggling during the pandemic.

New digital markets regime guidance published for consultation

Published on 28 Jun 2024. By Tom McQuail, Partner and David Cran, Partner, Head of IP & Tech and Melanie Musgrave, Of Counsel and Leonia Chesterfield, Of Counsel and Ben Powell, Associate

The Digital Markets, Competition and Consumers Act 2024 received Royal Assent on 24 May 2024. This article considers who will be impacted by the new digital markets regime, the requirements it will introduce, and how it may be enforced, and summarises the CMA’s new draft guidance under consultation on how it intends to implement the regime in practice.

The Digital Markets, Competition and Consumers Act – the Competition Perspective

Published on 28 Jun 2024. By Tom McQuail, Partner and Chris Ross, Partner and Melanie Musgrave, Of Counsel and Leonia Chesterfield, Of Counsel

This article considers the key changes to general competition law under the Digital Markets, Competition and Consumers Act which received Royal Assent on 24 May 2024 and is expected to enter into force in the Autumn.

Summary judgment against persons unknown – a tale of two crypto judgments

Published on 09 May 2024. By Dan Wyatt, Partner and Christopher Whitehouse, Senior Associate

Two recent crypto judgements in the High Court, Mooij v Persons Unknown (February 2024) and Boonyaem v Persons Unknown (December 2023) reached different conclusions regarding whether a summary judgment could be granted against unidentified (and unidentifiable) fraudsters, with Mooji deciding 'yes' and Boonyaem deciding 'no'.

Supreme Court confirms no knowing receipt claim where equitable interest is destroyed: Byers v Saudi National Bank

Published on 17 Apr 2024. By Jake Hardy, Partner and Ana Margetts, Associate

In Byers v Saudi National Bank, the Supreme Court affirmed the findings of the lower courts by holding that a claim for knowing receipt cannot be made if a claimant’s equitable interest in the property in question has been extinguished by the time of the defendant’s knowing receipt of the property.

Merchants Beat Venice: Court of Appeal finds that local authority of Venice did have capacity to enter into Interest Rate Swaps

Published on 19 Mar 2024. By Simon Hart, Partner, Head of Banking & Financial Markets Disputes

In a significant judgment in Banca Intesa Sanpaolo and Dexia Credit Local SA v Comune di Venezia [2023] EWCA Civ 1482, the Court of Appeal overturned the findings of the High Court

Coming to a bank near you? How "investment AI" could transform financial mis-selling claims

Published on 09 Nov 2023. By Daniel Hemming, Partner and Olivia Dhein, Knowledge Lawyer

Living under a rock is probably the only way anyone might have escaped the media attention given to ChatGPT and generative AI in recent months. Beyond the (considerable) hype, this technology could have a profound impact on financial mis-selling claims where financial institutions and fund managers turn to the new technology to help them select investments and products.