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Government White Paper sets out UK approach to AI regulation

Published on 07 Jul 2023. By Oliver Bray, Senior Partner

How is the UK Government looking to regulate AI?

Digital Markets, Competition and Consumers Bill opens door for stricter regulation of news platforms

Published on 07 Jul 2023. By Oliver Bray, Senior Partner

How might the proposed Digital Markets, Competition and Consumers Bill (the Bill) affect news reporting by digital platforms?

UK Government wants understanding of video games to move to the next level

Published on 12 Jun 2023. By Gowri Chandrashekar, Senior Associate and Zoe Harvey, Associate

On 30 May 2023, the UK Government published a Video Games Research Framework which encourages research on video games and emerging game-related technologies.

DCMS publishes new Code of Practice for app developers and app store operators

Published on 31 Mar 2023. By Oliver Bray, Senior Partner

What do app developers and app store operators need to do to comply with the new Code of Practice published by the Department for Digital, Culture, Media and Sport (DCMS)?

New Metaverse regulation proposal to be discussed by EU Commission

Published on 31 Mar 2023. By Oliver Bray, Senior Partner

How does the European Commission (EC) intend to regulate the Metaverse?

Online Safety Bill: Latest amendments increase focus on children safety

Published on 31 Mar 2023. By Oliver Bray, Senior Partner

What is the focus of the latest round of amendments proposed to the Online Safety Bill and how will these impact online platforms?

ICO publishes guidance on compliance of game design with the Children’s Code

Published on 31 Mar 2023. By Oliver Bray, Senior Partner

What steps can game designers take to ensure their games comply with the Children’s Code?

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.

RPC Law x Web3: Gambling regulations – Don't Play Games of Chance with the Law

Published on 22 Feb 2023. By Nick Lauw, Partner and Pu Fang Ching, Senior Associate

This is part of a series of RPC x Web3 articles designed to help Web3 participants and enthusiasts understand their rights in this rapidly evolving space.

New Digital Regulators on the 2023 Horizon: the Digital Markets Unit and the European Centre for Algorithmic Transparency

Published on 02 Dec 2022. By David Cran, Partner, Head of IP & Tech and Chris Ross, Partner

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).

Digital services providers—Commission to focus on implementation phase of EU consumer protection legislation

Published on 31 Oct 2022. By David Cran, Partner, Head of IP & Tech and Ellie Chakarto, Senior Associate

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?

The EU Digital Markets Act - a focus on gatekeeper obligations and sanctions

Published on 12 Oct 2022. By David Cran, Partner, Head of IP & Tech and Joshy Thomas, Knowledge Lawyer

What key obligations will the Digital Markets Act (DMA) impose on online platforms designated as gatekeepers?

Disputes Yearbook 2021: Retail disputes

Published on 04 May 2021. By Jeremy Drew, Partner, Head of Commercial

As part of the acclaimed Disputes Yearbook, Legal Business interviewed members of our disputes team exploring the litigation landscape and what RPC brings to the table.

Law passed to regulate Significant Investments in Singapore Entities

Published on 12 Jan 2024. By Kenneth Leong, Partner and Jemima Holly Ang, Associate

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.

Bossing the rules

Published on 03 Dec 2019. By Aimee Talbot, Knowledge Lawyer

Watch out for RPC's new blog mini-series on the SRA Standards and Regulations 2019.

FCA issues Final Report in the Wholesale Insurance Broker Market Study

Published on 20 Feb 2019. By Matthew Griffith, Partner and Jonathan Charwat, Partner

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.

Accountants, auditors and actuaries beware: the FRC continues to show its teeth, as its future stands in the balance

Published on 18 Jul 2018. By Rachel Ford, Partner

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.

The future of SIPPs – FCA responds to the Work and Pensions Committee

Published on 05 Jul 2018. By Rachael Healey, Partner

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.

PRA consultation to promote diversity on boards of large insurers

Published on 06 Jul 2017.

The PRA consults on further amendments to the Senior Insurance Managers Regime (SIMR) including promoting diversity on boards.

What 6 key challenges will insurers face in 2024?

Published on 11 Jan 2024. By Simon Laird, Global Head of Insurance

Climate change, Artificial Intelligence and ESG top this year's predictions in latest edition of Annual insurance review from international law firm RPC

Procedure damages & costs

Published on 11 Jan 2024.

In this chapter of our Annual Insurance Review 2024, we look at the main developments in 2023 and expected issues in 2024 for Procedure damages & costs.

Product liability

Published on 11 Jan 2024.

In this chapter of our Annual Insurance Review 2024, we look at the main developments in 2023 and expected issues in 2024 for Product liability.

Annual Insurance Review 2023

Published on 12 Jan 2023. By Simon Laird, Global Head of Insurance

Hello and welcome to RPC's Annual Insurance Review – a look back at the events that shaped the insurance market in 2022 and a look forward towards what to expect in 2023.

What are the 8 key concerns insurers will face in 2023?

Published on 12 Jan 2023. By Simon Laird, Global Head of Insurance

Annual Insurance Review from international law firm RPC identifies ESG risks, climate change and cyber-attacks as top challenges.

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The Times recognises RPC among Best Law Firms 2024

Published on 30 Oct 2023.

International law firm, RPC, has been recognised by The Times in its Best Law Firms 2024 report, an annual ranking of the top 250 law firms in England and Wales.

A matter of interpretation – the Supreme Court look at contractual interpretation once more

Published on 24 Feb 2023. By Poppy Hay, Associate and Laura Stocks, Partner

In their recent Judgment in Sara & Hossein Asset Holdings Ltd (a company incorporated in the British Virgin Islands) v Blacks Outdoor Retails Ltd [2023] UKSC 2 the Supreme Court adopted a commercially balanced interpretation of a lease; rejecting the overly textual approach of the Court of Appeal in favour of reading the relevant clause in the context of the lease as a whole.

All change: What will a Labour government mean for financial services?

Published on 05 Jul 2024. By Rachael Healey, Partner and David Allinson, Partner and George Smith, Partner and Matthew Watson, Partner and Ash Daniells, Senior Associate and Andrew Oberholzer, Senior Associate and Heather Buttifant, Associate

What does a new Labour government mean for the management liability market?

Published on 05 Jul 2024. By Rachael Healey, Partner and Matthew Watson, Partner and Andrew Oberholzer, Senior Associate and Zoe Melegari, Senior Associate and Kim Wright, Senior Associate

We have a new government and the first Labour government for 14 years. What does it mean for the management liability market? We look at what Labour has promised and with that the areas those in the market will want to consider across directors and officers, employment liability and pensions.

FCA announces thematic review of retirement income advice

Published on 01 Mar 2023. By Faheem Pervez, Associate and Patrick Barclay, Associate

The pension freedom reforms changed the way consumers access their retirement funds. This FCA thematic review will put firms under the spotlight with a focus on how the retirement income advice market is functioning in response to changing consumer needs in the current economic downturn.

FCA responds to criticism of the Public Accounts Committee when it comes to BSPS with rejection of suggestion it should reconsider a wider defined benefit transfer review

Published on 03 Oct 2022. By Rachael Healey, Partner

In a July blog I reported on the House of Commons Public Accounts Committee report entitled "Investigation into the British Steele Pension Scheme". The blog set out a number of recommendations of the Committee in light of its investigations into the FCA's conduct and regulatory oversight of BSPS and, in particular, the 7,834 members that transferred out of BSPS into a personal pension scheme. We have now had a sneak preview of the FCA's response in the recent Committee minutes. Here's what the FCA had to say.

FCA Review of AML failings at challenger banks

Published on 27 May 2022. By James Wickes, Partner and Amber Slumbers, Associate

Throughout 2021, the FCA conducted a detailed review into the financial crime controls of challenger banks as they continued to enter the UK financial industry at a rapid pace. Their surge in popularity is partially linked to the Covid-19 pandemic, which has prompted significant changes in the habits of service providers worldwide. Whilst the FCA's review indicated some evidence of good practice, it is clear that challenger banks must do more to reduce the significant risks of financial crime occurring both at the time of customer onboarding and throughout the subsequent customer journey.

FCA consults on British Steel redress scheme

Published on 22 Dec 2021. By David Allinson, Partner

The FCA intends to open consultation on an industry wide redress scheme covering British Steel Pension transfers. This is perhaps the only option left for the regulator, but a redress scheme will heap further pressure on an area of the advice industry that is already under fire.

FCA looks to tighten up appointed representative regime

Published on 08 Dec 2021. By George Smith, Partner

On Friday the FCA published a consultation paper on potential changes to the existing appointed representative (AR) regime.

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.

FCA set to expand climate-related reporting rules

Published on 17 May 2021. By James Parsons, Associate and Ash Daniells, Senior Associate

The FCA has revealed it will consult on plans to require asset managers, life insurers and FCA-regulated pension schemes to meet climate-related disclosure rules. In doing so, the FCA is expanding the scope of firms required to report on climate-related risks in accordance with the recommendations of the Task Force on Climate-related Financial Disclosure (TCFD).

Pure Legal interest only mortgage claim – judgment in favour of the mortgage broker on limitation grounds as judge finds the damage was patent not latent

Published on 13 May 2021. By Rachael Healey, Partner

The first judgment following trial in a Pure Legal interest only mortgage claim has now been handed down, with the judge dismissing the claim on the basis that it was out of time, with the claimants having all requisite knowledge of the material facts of the damage from the outset of taking out the interest only mortgage. The judge also found the advice was not negligent.

When is a complaint a complaint under DISP?

Published on 21 Apr 2021. By Rachael Healey, Partner

A Court of Appeal judgment has recently addressed what constitutes a complaint for the purposes of DISP [Clive Davis v Lloyds Bank [2021] EWCA Civ 557]. It is important to identify when a complaint is made as a regulated firm for two primary reasons: first, a complaint triggers the dispute resolution procedure under DISP of the FCA's Handbook and second, it stops time running for the purposes of time bar when it comes to a complaint to FOS.

Additions to FCA DB Transfer Guidance Published

Published on 06 Apr 2021.

The FCA have published finalised guidance regarding defined benefit pension transfers. The latest publication amends and adds to the draft published in June 2020.

Adams v Carey – where does the Court of Appeal's decision leave the SIPP market?

Published on 01 Apr 2021. By Rachael Healey, Partner and Ash Daniells, Senior Associate

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.

FCA publishes finalised guidance for firms on the fair treatment of vulnerable customers

Published on 22 Mar 2021. By Claudia Schlossberger, Paralegal

In February 2021, the FCA published guidance on the fair treatment of vulnerable customers with the aim of improving their customer experience.

FOS and the Adams v Carey decision – where are we as the Court of Appeal hearing starts?

Published on 02 Mar 2021. By Rachael Healey, Partner

Calls for increased regulation following rise in FSCS bills

Published on 11 Sep 2020. By Shauna Giddens, Associate

The FSCS levy for the 2020/2021 was released earlier this year, causing frustration amongst many advisors in the sector. That frustration continues, with the FSCS making large compensation payments in respect of defined benefit (DB) transfers where many question the lack of earlier FCA intervention, which might have alleviated the problems in this area.

FCA appoints new CEO

Published on 25 Jun 2020. By Jennifer Inman, Paralegal

The Financial Conduct Authority (FCA) has appointed Nikhil Rathi, the UK head of the London Stock Exchange, as its new permanent chief executive, making him the first BAME leader of the UK's city regulator.

Equity Release Market Under the Spotlight

Published on 18 Jun 2020. By Rachael Healey, Partner

Yesterday the FCA published its key findings from exploratory work involving "later life lending". This type of lending is broadly where consumers 55 and over use borrowing to access cash in later life. One of those options is equity release which was the focus of the FCA's work. The FCA's focus on equity release appears to have resulted from an initial review of the broader later life lending market, at which time the FCA identified some "poor outcomes" in equity release sales.

FCA advice checker – FCA statement on what customers should look out for in DB transfer advice

Published on 11 Jun 2020. By Rachael Healey, Partner

Wrapping up the documents published by the FCA on 5 June 2020 on the issue of defined benefit pension transfers (DB transfers), we address in this blog the FCA's "advice checker".

The future of DB transfer advice - the FCA's policy statement

Published on 10 Jun 2020. By Rachael Healey, Partner

In part 3 of our blog series on defined benefit pension transfers (DB transfers) we look at the FCA's policy statement on changes to the DB transfer rules. The change that has attracted most press attention is the ban on contingent charging but there are other parts to the policy statement that are likely to have a much more substantive impact on the DB transfer market going forward.

HKEX published additional guidance specific to biotech companies

Published on 10 Jun 2020.