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Money Covered: The Week That Was – 10 May
Welcome to The Week That Was, a round-up of key events in the financial services sector over the last seven days.
Read moreMoney Covered: The Week That Was – 3 May
Welcome to The Week That Was, a round-up of key events in the financial services sector over the last seven days.
Read moreMoney Covered: The Week That Was – 26 April
Welcome to The Week That Was, a round-up of key events in the financial services sector over the last seven days.
Read moreMoney Covered: The Week that Was - 19 April
Welcome to The Week That Was, a round-up of key events in the financial services sector over the last seven days.
Read moreMoney Covered: The Week that Was - 25 August
Welcome to The Week That Was, a round-up of key events in the financial services sector over the last seven days.
Read moreMoney Covered: The Week that Was - 04 August
Welcome to The Week That Was, a round-up of key events in the financial services sector over the last seven days.
Read moreFix up, look sharp: FRC update
What's the latest on fixed recoverable costs in professional negligence claims?
Read moreMoney Covered: The Week that Was - 28 July
Welcome to The Week That Was, a round-up of key events in the financial services sector over the last seven days.
Read moreMoney Covered: The Week that Was - 07 July
Welcome to The Week That Was, a round-up of key events in the financial services sector over the last seven days.
Read moreYour statement or mine? Witness statements under Practice Direction 57AC
The judgment of Mr Justice Fancourt in Mackenzie v Rosenblatt Solicitors & Anor [2023] EWHC 331 (Ch) has highlighted, in no less than 36 paragraphs on the matter, the importance of ensuring compliance and understanding of Practice Direction 57AC - Trial Witness Statements in the Business and Property Courts ("PD 57AC"), when preparing witness statements.
Read moreThe collapse of FTX: lessons for many
From investors to regulators, FTX Trading Ltd (FTX) filing for bankruptcy was unexpected by all. A catalyst for litigation and regulation over the years to come, this collapse will serve as a warning, particularly to cryptocurrency insurers.
Read moreSLAPPs – a round up of the latest developments for the SRA
The last week or so has seen a burst of activity on SLAPPs, alongside criticism of the SRA. This will be of interest to lawyers and their insurers.
Read moreThe scope of a solicitor's duty to third parties in the spotlight again
The Claimant (Mr Syed Ul Haq), via his Estate, brought claims against the Defendants for damages arising out of two frauds in connection with the same property. It is central to this appeal to understand that Rees Page Solicitors never acted for the Claimant. It is indeed for that reason Rees Page Solicitors applied for summary judgment on the grounds that the Claimant had no reasonable prospects of success. After hearing the application, on 13 December 2019, Deputy Master Lloyd, granted summary judgment on the basis that as Mr Ul Haq was not a client of Rees Page Solicitors, they did not owe him a duty of care.
Read moreIs the FCA to blame for BSPS? MPs seem to think so
The House of Commons Public Accounts Committee (PAC) yesterday published a report entitled "Investigation into the British Steel Pension Scheme". The report makes a number of recommendations in light of its investigations in to the FCA's conduct and regulatory oversight at the time of the issues arising from the British Steel Pension Scheme (BSPS) and in particular the decision by 7,834 members to transfer to a personal pension arrangement. The report is heavily critical of the FCA's handling of BSPS and its regulatory oversight of the defined benefit transfer market generally. Given the request in the report for an update from the FCA on its progress on the various recommendations and conclusions in 6 months' time, we wait to see how the FCA reacts to yet further criticism of its handling of BSPS at a time when it is reviewing responses to the consumer redress scheme consultation.
Read moreFCA consultation on British Steel redress scheme published
The FCA has now published its consultation paper on the proposed redress scheme for British Steel Pension transfers under s.404 of FSMA. The scope of this is wider than anticipated and the proposals contain some surprises around the lack of an opt-in process and potential involvement of FOS.
Read moreSIPPs and FOS - does the Rowanmoor decision change anything?
Last week FOS published a decision it reached last year in a complaint against a SIPP provider involving advised sales. The FOS upheld the complaint, finding that the SIPP provider should have rejected business from the regulated financial adviser, CIB Life and Pensions Limited (CIB), given, broadly, red flags available to the SIPP provider with respect to the operation of CIB's business model including that CIB was not advising on the ultimate investment within the SIPP and as a result such introductions involved a significant risk of consumer detriment. The decision has received quite a bit of press attention - but has it moved the dial for SIPP complaints before FOS or not?
Read moreThe Future of Insolvency Regulation
On 21 December 2021 the Government launched a consultation into the future of insolvency regulation. The changes proposed in the consultation document will have a wide ranging impact on the insolvency profession (and its insurers) with the proposals including: the direct regulation of insolvency firms, the introduction of a single regulatory body with powers to order compensation against insolvency practitioners and firms, a new additional requirements regime, changes to the bond regime and a public register of insolvency practitioners and firms. Many of the changes proposed require primary legislation and so it may be some time before the changes to take effect (if adopted). But there does appear to be some wind behind these proposals given they follow on from the Call for Evidence in 2019 and a more general focus on insolvency issues in the wake of the Covid-19 pandemic.
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.
Read moreTake 10 - 12 July 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 – 23 May 2024
Welcome to RPC's Media and Communications law update. This month's edition on key media developments and the latest cases.
Read moreMedia & Entertainment
As one of the UK’s strongest media law teams, we work closely with you to tackle any challenges that come your way.
Read moreThe EU’s new General Product Safety Regulation is set to land in December 2024
What do manufacturers and online marketplaces need to think about as the EU General Product Safety Regulation (GPSR) comes into force in December 2024?
Read moreEmpowering consumers through the EU’s Green Transition Directive
What are the enhanced consumers rights arising from the EU’s Directive on Empowering Consumers for the Green Transition (the Empowering Consumers Directive)?
Read moreProduct Security and Telecommunications Infrastructure Regulations: a new security regime for smart devices
What does the new cyber security regime mean for “smart” devices in the UK?
Read moreThe EU’s Product Liability Directive expands to cover digital technology
What changes to civil product liability have been implemented by the European Commission for defective digital products and software?
Read moreThe Digital Markets, Competition and Consumers Act becomes law
What changes will the new Digital Markets, Competition and Consumers Act bring to the consumer protection and competition regulation landscape?
Read moreThe EU's Green Claims Directive
The EU's proposed Green Claims Directive (GCD) sets out expansive new rules for companies making green claims in the EU.
Read moreConsumer friendly compliance – guidance for retailers and consumer brands on the DMCC Bill
Following receipt of some 372 responses to the "Smarter Regulation: Improving consumer price transparency and product information for consumers" Consultation, the government has published its response in which it proposes significant amends to the Price Marking Order alongside new additions to the DMCC Bill.
Read moreHigher stakes cybercrime – prepare now
Cybercrime continues to increase and shows no signs of stopping.
Read moreFood and beverage 2050: The transition to net zero
Following publication in October 2023 of its final Disclosure Framework for private sector entities to transition to a net zero economy, the TPT published draft Food & Beverage Sector Guidance in November 2023.
Read moreVirtual advertising: a glimpse into the future
Virtual advertising and experiences are transforming the way real world property can be used by turning it into a canvas for digital content.
Read moreThe rise of recommerce
Recommerce (which includes reselling, renting, refilling, repairing or reusing goods) is already an extremely valuable business model, estimated by Barclays to be worth almost £7bn in the UK alone and expected by Visa to increase to £82bn by 2030. This growth – particularly in respect of resale – is widely regarded as being driven by Gen Z consumers, over two thirds of whom now prefer to buy second-hand over new goods, in part, due to sustainability concerns.
Read moreOnline Fraud Charter agreed by largest tech companies
What are the obligations for tech companies that have signed up to the UK’s Online Fraud Charter (the Charter)?
Read moreThe DMCC Bill: New laws set to ban fake reviews and drip pricing from online shopping
What new laws is the UK Government planning to introduce to tackle fake reviews and unfair fees when it comes to online shopping?
Read moreCollective actions under consumer law: proposed amendments to the Digital Markets, Competition and Consumers Bill
Are class actions under consumer protection law likely following the UK’s new DMCC Bill, and if so, what will the impact on businesses be?
Read moreGreen claims: key takeaways from the CMA's first investigation
After much anticipation, the Competition and Markets Authority (CMA) has finally published the results of its investigation into green claims made by ASOS, Boohoo and George at Asda. All three retailers have signed undertakings committing to change the way they promote their green credentials and to set up robust internal processes to ensure future green claims are not misleading.
Read moreWhat if the CEO asks me about… the options available for a company facing financial difficulties?
The latest government insolvency statistics highlight that the downturn in the UK economy is still taking a significant toll and the number of UK corporate insolvencies in February 2024 remains high (and 17% higher compared to February 2023).
Read moreProgress on sustainability in fashion: the move to circularity
According to the WRAP report, it is estimated that the fashion and textiles sector accounts for up to 8% of global greenhouse gas emissions and uses 93 billion cubic meters of water each year.
Read morePlatforms with Irish HQs win EU case to follow Irish law
Do platforms have additional regulatory obligations in EU states, even if they don’t have a registered office there?
Read moreOfcom issues draft guidance and launches consultation on the Online Safety Act 2023
What can platforms expect from Ofcom, as it steps into its new role regulating compliance with the Online Safety Act 2023 (the Act)?
Read moreEuropean consumer group files greenwashing complaint over water bottle recyclability
Will a consumer group complaint about recyclability and the use of green imagery on water bottle packaging be successful in proving a breach of EU regulations against greenwashing? And what will this mean for wider industry using recyclable or recycled packaging?
Read moreLast chance saloon: EU consumers only have one opportunity to withdraw from auto-renewing subscription contracts
When do EU consumers have a right to withdraw from subscription contracts? And how will this differ to the UK’s approach under the new Digital Markets, Competition and Consumers Bill (DMCC)?
Read moreNew Development: European Parliament adopts draft report to address the addictiveness of digital platforms
Earlier this year, the European Parliament published a draft report (the Report) on the addictive design of online services and consumer protection.
Read moreWhat if the CEO asks me about… preparing for new sustainability reporting requirements?
There is an increasingly complex web of sustainability reporting requirements for companies across the world (either in force or in the pipeline). The ISSB standards seek to set a global baseline for sustainability reporting to ensure consistency and comparability of companies' disclosures. With UK implementation of the standards expected next year, retailers and consumer brands should take steps now to prepare. We outline the current plans for sustainability reporting under the ISSB standards in the UK and flag practical steps that businesses should take to prepare.
Read moreArresting times: Significant changes to UK corporate criminal liability and corporate transparency
The Economic Crime and Corporate Transparency Bill (the Bill) is set to overhaul the existing corporate criminal liability and corporate transparency regimes.
Read moreThe EU Digital Markets Act: a levelling of the playing field?
The Digital Markets Act (the DMA) forms part of the EU’s Digital Services Act package, placing new obligations on “gatekeeper” platforms who offer core platform services to business and end-users established or located in the EU, irrespective of the gatekeepers’ place of establishment, residence, or any national laws applicable to their service.
Read moreDrip pricing, fake reviews and other digital dark arts
The Digital Markets, Competition and Consumers Bill (the Bill) is currently at Report Stage in its journey through Parliament. When it comes into force, we will see a significant enhancement of the UK’s consumer protection regime – with a particular focus on maximising transparency to consumers, to help them find better deals and avoid being ripped off.
Read more"Recommended for you" - Data risks in AI-powered customer solutions
Retailers and consumer brands are increasingly using AI online and in stores. Examples of how the technology could be leveraged include generative AI like ChatGPT, the automation of supply chains or the detection of fraud. Data regulators in the UK and EU are starting to catch up to the use of these technologies and making their positions known.
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