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Where to next for Buy Now Pay Later?

Published on 12 Oct 2022.

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.

Extended producer responsibility for packaging: How to prepare

Published on 12 Oct 2022.

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.

It's a supermarket sweep as HFSS products face sweeping promotion and placement restrictions

Published on 12 Oct 2022.

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.

Online Sales Tax: the right way forward?

Published on 12 Oct 2022.

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.

Greenwashing: UK regulators set their sights on misleading green claims with an increasing focus on sectors such as fashion retail and F&D

Published on 12 Oct 2022.

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'

UK retail sector M&A deals increase to 34 – up 21% on last year

Published on 05 Sep 2022. By Karen Hendy, Partner, Head of Corporate

• M&A targeting fashion retailers particularly active

Shift in consumer rights landscape increases risks for retailers

Published on 13 Dec 2021.

Retail Compass Summer edition 2020

Published on 28 Jul 2020. By Jeremy Drew, Partner and Karen Hendy, Partner

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.

The ASA bites back – Burger King 'Rebel Whopper' ads ruled to be misleading and in breach of advertising rules

Published on 07 May 2020. By Ben Mark, Partner

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.

Hong Kong data protection: cross-border transfers of personal data

Published on 20 Jun 2022. By Jonathan Crompton, Partner and Andrea Randall, Partner

We take a closer look at businesses' obligations under Hong Kong law to protect personal data in a cross-border transfer and the new recommended model contractual clauses.

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?

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?

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.

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.

Your statement or mine? Witness statements under Practice Direction 57AC

Published on 23 Feb 2023. By Richard Seymour, Associate and Simy Khanna, Partner

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.

The collapse of FTX: lessons for many

Published on 14 Feb 2023. By James Wickes, Partner and Matthew Wood, Senior Associate and Jessica Pease, Associate

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.

SLAPPs – a round up of the latest developments for the SRA

Published on 02 Feb 2023. By Graham Reid, Partner

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.

The scope of a solicitor's duty to third parties in the spotlight again

Published on 26 Jan 2023. By Michelle Peacock, Associate and Rhian Howell, Partner & Head of Office, Bristol

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.

Is the FCA to blame for BSPS? MPs seem to think so

Published on 22 Jul 2022. By Rachael Healey, Partner

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.

FCA consultation on British Steel redress scheme published

Published on 31 Mar 2022. By David Allinson, Partner and Robert Morris, Partner

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.

SIPPs and FOS - does the Rowanmoor decision change anything?

Published on 02 Feb 2022. By Rachael Healey, Partner

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?

The Future of Insolvency Regulation

Published on 04 Jan 2022. By Rachael Healey, Partner

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.

As EU's new sustainability directive is agreed, UK companies warned 'not to rest on their laurels'

Published on 15 Dec 2023. By Sophie Tuson, Senior Associate

Following the news that agreement has been reached on the EU's new Corporate Sustainability Due Diligence Directive, Environment and Climate Change Practice Lead Sophie Tuson, a Senior Associate who specialises in climate and environmental sustainability at international law firm RPC

Accountants obliged to report suspected misuse of the Bounce Back Loan Scheme

Published on 07 Sep 2021. By Adam Craggs, Partner and Michelle Sloane, Partner

The Bounce Back Loan Scheme (BBLS) was introduced to enable smaller businesses adversely affected by the coronavirus pandemic to access government-backed finance.

Furlough, Act Now to Avoid the Knock

Published on 23 Sep 2020. By Kelly Thomson, Partner, ESG strategy lead

As we leave behind the curious summer of 2020, both HMRC and the SFO are readying themselves for the new term. First order of business: combatting corporate misuse of furlough and Covid-19 bail-out funds. According to official statistics released on 18 September, furloughing of staff in the wholesale and retail sector peaked on 24 April at 1.85 million employees - by 31 July, initial figures show 789,000 retail jobs furloughed– a decrease of more than a half since the peak for the sector. Some furloughed employees in the wholesale and retail sector have been returning to work as lockdown restrictions eased, others have, sadly, faced redundancy. As the furlough scheme winds down to a close next month, some employers may be faced with HMRC insisting that their furlough claims amounted to a misuse of – or even fraud against - the scheme.

Silicon Valley, Signature and Credit Suisse: what do they all share(holder) in common?

Published on 28 Mar 2023. By James Wickes, Partner and Oliver Knox, Partner and Jessica Pease, Associate

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.

Hong Kong Courts – In with the old and the new technology

Published on 15 Apr 2020. By Antony Sassi, Managing Partner, Asia and Jonathan Crompton, Partner and David Smyth, Senior Consultant

In Re Cyberworks Audio Video Technology Ltd,(1) the High Court of Hong Kong decided that it can, as part of its case management powers and of its own volition, order that a directions hearing take place by means of a telephone conference without the physical presence in court of the parties or their legal representatives.