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Insolvencies of retail businesses jump 56% in past year to hit decade high
The number of retail business insolvencies jumped 56% in the past year, to hit the highest levels in at least a decade - 1,942 in 2022/23, up from 1,243 in 2021/22 shows new research from international law firm RPC.
Read moreA shifting landscape? The outlook for data regulation in 2023
With a relatively new Information Commissioner in the UK and a renewed focus on getting post-Brexit data protection laws through Parliament, attention is turning to the ICO’s priorities and how they fit into this new landscape.
Read moreTransitioning to a net zero economy
The TPT has published a draft disclosure framework and implementation guidance for private sector entities to transition to a net zero economy, making recommendations for companies and financial institutions to develop gold-standard transition plans.
Read moreCSRD: shakeup of the EU's sustainability reporting rules
The EU’s new Corporate Sustainability Reporting Directive (CSRD) entered into force on 5 January 2023.
Read moreDeposit Return Scheme: Key considerations for drinks producers and retailers in the UK
Defra has now responded to its consultation on the introduction of a DRS in England, Wales and NI. The DRS will require retailers to charge a small fee on certain drinks containers sold, which consumers can reclaim if they return the container to a designated return point.
Read moreEU set to tackle greenwashing with Green Claims Directive
On the 22 March 2023, the European Commission published its proposal for a new 'Green Claims Directive' setting out standardised rules for the assessment, substantiation and communication of green claims.
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 moreNew REUL? How will the Retained EU Law (Revocation and Reform) affect UK businesses?
When the Brexit transition period ended, so did the alignment of EU law with UK domestic law.
Read moreA bolstering of the consumer protection regime and some sharper teeth for the CMA – a first look at the new UK Digital Markets, Competition and Consumers Bill
It's been a little over a year in the making, and it's been one of the most hotly anticipated legislative updates since it was first announced in April 2022, but the first draft of the UK's catchily titled Digital Markets, Competition and Consumers Bill, is finally here.
Read moreWhat are the 8 key legal changes ahead for retailers in 2023?
RPC's Retail Compass explores impact of regulatory reforms, rising ESG concerns and fast-evolving AI technology in difficult economic conditions.
Read moreGoing Green - Draft Sustainability Guidance from the CMA
Following its public consultation, the CMA has published its advice to government on how competition and consumer laws can help meet the UK's environmental goals.
Read moreCasting your net zero ambitions: eight key steps for retailers
With climate change at the forefront of the ESG agenda, the employment relationship, and the opportunities to engage with the workforce on this subject, are crucial ingredients in the quest to becoming a truly green retailer.
Read moreUK set to reform consumer protection legislation and its competitive regime
The UK is set to introduce a wide array of changes to its consumer protection legislation and competition regime. The focus of the changes revolves around giving greater protection to consumers over subscription traps, tackling fake reviews and improving enforcement. The latter is likely to bring in GDPR/competition law-level fines for breaches of consumer protection legislation or non-compliance with the CMA's investigations or remedies, with maximum fines of up to 10% of global annual turnover.
Read moreWhere to next for Buy Now Pay Later?
On Monday 20 June 2022, HM Treasury responded to its consultation on proposals to extend regulation to unregulated Buy Now Pay Later (BNPL) products. This consultation closed in January 2022. The Treasury's response confirmed the scope of regulation will cover BNPL products and short-term interest free credit (STIFC) provided by third-party lenders.
Read moreExtended producer responsibility for packaging: How to prepare
In the Spring 2022 edition of Retail Compass, we reported on the Government's consultation on regulations covering extended producer responsibility (EPR) which places the financial burden of dealing with packaging once it becomes waste on producers as opposed to taxpayers.
Read moreIt's a supermarket sweep as HFSS products face sweeping promotion and placement restrictions
In an attempt to tackle obesity in the UK, in particular childhood obesity, a swathe of restrictions on the placement and promotion of HFSS products in-store and online will be introduced in phases from October 2022 to January 2024.
Read moreOnline Sales Tax: the right way forward?
On 25 February 2022, HM Treasury launched a consultation exploring the possible introduction of an online sales tax (OST) to address the imbalance resulting from the higher business rates applying to in store retailers, compared to online businesses. The consultation closed on 20 May 2022.
Read moreGreenwashing: UK regulators set their sights on misleading green claims with an increasing focus on sectors such as fashion retail and F&D
UK consumer regulators, the Competition and Markets Authority (CMA) and Advertising Standards Authority (ASA), are ramping up their enforcement of green claims to protect consumers from 'greenwashing'
Read moreUK retail sector M&A deals increase to 34 – up 21% on last year
• M&A targeting fashion retailers particularly active
Read moreShift in consumer rights landscape increases risks for retailers
Read moreRetail Compass Summer edition 2020
Welcome to the Summer 2020 edition of Retail Compass – our guide to key upcoming legal and policy changes affecting Retail and our thoughts on the need-to-know issues.
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 moreCybersecurity breaches at financial services firms more than trebles
Cybersecurity breaches reported by financial service providers rose from 187 in 2021/22 to 640 in 2022/23 UK pension schemes report the biggest increase, 4,000%, in data breach reports to the ICO
Read moreNew developments in AI may put law firms at greater risk of phishing fraud
As the computing power of Artificial Intelligence continues to grow exponentially, we consider how generative technology may expand the reach of traditional phishing frauds aimed at law firms.
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 virtual insurer for Hong Kong
This month saw the award of a further virtual insurer licence in Hong Kong – this time for OneDegree (on 15 April 2020). The start-up will focus, initially, on the burgeoning Hong Kong pet insurance market, before a proposed expansion into health and cyber risk.
Read moreICO fines online travel insurer £175,000 for failing to keep customers’ personal information secure
The Information Commissioners Office (the “ICO”) has fined Staysure.co.uk Limited (“Staysure”), an online travel insurance company, £175,000 for its failure to comply with the seventh data protection principle, after IT security failings allowed hackers to access up to 100,000 customer financial records.
Read moreNavigating the impact of AI on work: challenges, opportunities, and the human touch
The fear of job losses because of technology and automation, including artificial intelligence, has been with us since the 1960s. For some time, academics have predicted the decline of routine, rules-based and process-driven roles.
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 moreRPC @ London Tech Week 2024
We are delighted to announce that we will once again be hosting several in-person official fringe events around London Tech Week in June 2024.
Read moreDigital Markets, Competition and Consumers Act becomes law
Following the announcement of a date for the general election, the Digital Markets, Competition and Consumers Act (DMCC) rapidly sped through the final stages of parliamentary processes to become law on 24 May 2024
Read moreCriminal Liability for Senior Managers under the Online Safety Act
Under the Online Safety Act (OSA), senior managers of in-scope services could be held personally liable in certain circumstances for the company's non-compliance with obligations within the legislation.
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 moreHong Kong's enhanced e-reporting system for internet fraud
On 19 September 2022, the Hong Kong Police Force announced its upgraded e-reporting system for internet crimes and frauds, which aims to improve the processing and analysing of cyber crimes.
Read moreEuropean Parliament formally adopts Digital Services Act
Following provision political agreement by the Council and the European Parliament in April 2022, on 5 July 2022 the European Parliament formally adopted the Digital Services Act (DSA). The DSA has yet to be adopted by the Council.
Read moreRPC Insurtech in brief - January 2022
Welcome to the January edition from RPC of Insurtech in brief, providing you with a handful of snappy monthly updates from the industry.
Read moreRPC Insurtech in brief - October 2021
Welcome to the October edition from RPC of Insurtech in brief, providing you with a handful of snappy monthly updates from the industry.
Read moreRPC Insurtech in brief - September 2021
Welcome to the September edition from RPC of Insurtech in brief, providing you with a handful of snappy monthly updates from the industry.
Read moreRPC Insurtech in brief - August 2021
Welcome to the August edition from RPC of Insurtech in brief, providing you with a handful of snappy monthly updates from the industry.
Read moreRPC Insurtech in brief - July 2021
Welcome to the July edition from RPC of Insurtech in brief, providing you with a handful of snappy monthly updates from the industry.
Read moreRPC Insurtech in brief - June 2021
Welcome to the June edition from RPC of Insurtech in brief, providing you with a handful of snappy monthly updates from the industry.
Read moreRPC Insurtech in brief - May 2021
Welcome to the May edition from RPC of Insurtech in brief, providing you with a handful of snappy monthly updates from the industry.
Read moreRPC Insurtech in brief April 2021
Welcome to the April edition from RPC of Insurtech in brief, providing you with a handful of snappy monthly updates from the industry.
Read moreRPC Insurtech in brief – March 2021
Welcome to the latest edition from RPC of Insurtech in brief, providing you with a handful of snappy monthly updates from the industry.
Read moreCommercial Court cracks down on crypto-fraudsters (if it can find them)
In the first initial coin offering 'ICO' fraud case before the Commercial Court, Ion Science Limited & Duncan Johns v Persons Unknown & Ors, the court granted permission to serve disclosure orders on two cryptocurrency exchanges through which the claimants' stolen bitcoin had been traced, granted a world-wide freezing order against persons unknown, and gave ground-breaking guidance on the lex situs of crypto-assets.
Read moreRPC Insurtech in brief – January 2021
Welcome to the latest edition from RPC Insurtech in brief providing you with a handful of snappy monthly updates from the industry.
Read moreRPC Insurtech in brief – December 2020
Welcome to the latest edition from RPC Insurtech in brief providing you with a handful of snappy monthly updates from the industry.
Read moreMajor overhaul of UK telecoms regulation to go ahead by the end of December 2020
The UK still pushing ahead with implementing wide ranging European regulatory changes, but obligations for many "over the top" providers are likely to be postponed.
Read moreCK Hutchison wins in the ECJ – better late than never?
CK Hutchison wins its appeal against the EC's decision to block Three UK’s 2016 merger with O2.
Read moreFuture Fund
The Chancellor has announced the launch of a £500m co-investment fund for start-ups adversely impacted by the coronavirus. The 'Future Fund' operates through the government matching private sector money with state-backed loans that can convert into equity stakes in the start-up.
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