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Licensees beware - SAP wins victory against Diageo for breach of software licence agreement
In a significant ruling for software customers and providers, the High Court found that Diageo breached the "Named User" pricing mechanism of its software licence agreement with SAP.
Read moreOnline Sales and Price-Fixing
The CMA recently issued a warning to online retailers against price-fixing and using automated re-pricing software to facilitate such arrangements.
Read moreDigital comparison tools under review
The UK's CMA has launched a market study into price comparison tools, such as price comparison websites and smartphone apps. The aim is to establish what action, if any, is required to improve how this market works. The CMA has until 28 March 2017 to decide whether to open an in-depth market investigation.
Read moreBlocking the blockers: EU prohibits network-wide ad-blocking
Mobile phone operators' plans to introduce network-wide ad-blocking technology are in jeopardy following new guidance from EU telecoms regulators, a move which highlights the divide between content providers and telecoms companies in their attitude towards ad-free content.
Read moreDrones: don't fly out of bounds (legally)
Various commercial industries have already woken up to the myriad opportunities offered by drone technologies. Whilst the regulatory regime evolves, it is important that companies don’t fall foul of the law.
Read morePrice fixing online – a new competition authority warning
The UK's Competition and Markets Authority ("CMA") has released an open letter to suppliers and retailers warning against online practices which constitute price fixing.
Read moreUpdate: High Court provides guidance on termination for contracting parties
In the recent case of C&S Associates Ltd v Enterprise Insurance Company Plc [2015] EWHC 3757 (Comm) the High Court considered a number of issues that will be of interest to contracting parties, including:
Read moreFCA Publish Draft Guidance on Cloud Services
The FCA has recently published draft guidance for firms outsourcing to the cloud and other third party IT services. This comes as part of the FCA's work on "Project Innovate" which aims to tackle issues stifling innovation within the regulatory sector.
Read moreFCA to examine use of big data in insurance
This week, the FCA has issued a "call for inputs" around how insurance firms use big data.
Read moreThe Modern Slavery Act: what you need to know about the new reporting obligation
The Modern Slavery Act 2015 (the Act) came into force on 26 March 2015. At a high level it aims to improve law enforcement tools, strengthen criminal penalties and deliver better protection and support for victims.
Read moreEU Court declares 'Safe Harbor' data-transfer agreement invalid
The Court of Justice of the European (CJEU) has declared that the "Safe Harbor" framework agreement cannot be relied upon to justify transfers of personal data from the EU to the US.
Read moreDo you know you're being tracked?
Do you own a smart phone? Do you always have WiFi enabled? If your answers to both these questions are yes, your movements were most probably tracked on your way into work today.
Read moreEU Consultation on standards for a Digital Single Market
On 23 September 2015, the European Commission launched a public consultation on information and communications technology ("ICT") standards for creation of a Digital Single Market.
Read moreUpdate: IT Suppliers beware! Your right to terminate on a customer insolvency is changing…
In September 2013 we reported on the Enterprise and Regulatory Reform Act 2013 which provided the Government with the power to extend the law regarding the supply of essential services to insolvent customers.
Read moreArticle 29 Working Party keeps up the pressure on data reform discussions
The EU data protection reform package has entered its decisive phase. The first trilogue between the European Parliament, the European Commission and the Council of Ministers began on 24 June 2015 but, even at this late stage, there are many key concepts still to be finalised.
Read moreTransparency by design – putting FOIA at the forefront of public sector outsourcing contracts
Earlier this year, the Information Commissioner's Office (ICO) published a guidance document recommending some steps for public authorities (Authorities) to take when entering into outsourcing arrangements to help them comply with their freedom of information obligations.
Read moreDigital content under the new Consumer Rights Act
The Consumer Rights Act 2015 (CRA) comes into force on 1 October 2015. It will reform consumer law in the UK, in particular by setting up new consumer rights and remedies in respect of digital content.
Read moreUK cyber security: insure against 'rapid, highly damaging and public' threats
Cyber attacks present a daily threat to UK businesses and have become more destructive in recent years with data breaches and hacks frequently making front page news.
Read moreCourt of Appeal opens the door to 'distress-only' data breach claims where no financial loss
In an important ruling, the Court of Appeal confirms that misuse of private information is a tort and rules on the meaning of "damage" under s13 of the Data Protection Act ("the DPA"), allowing claimants to recover compensation for "distress" resulting from a breach of the Act without also having to prove pecuniary losses.
Read moreSupreme Court clarifies the limits on contractual discretion
A recent decision of the Supreme Court1 has confirmed that the limits on contractual discretion include a requirement to take relevant issues into account and that the discretion is not exercised irrationally.
Read moreCMA call for information on use of online reviews
Online reviews: love them or hate them, there is no escape. Products, services, large multinationals, SMEs, online or offline, almost everyone is being judged these days.
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 moreNew powers to audit NHS authorities' data protection compliance
From 1 February 2015, the ICO will be able to subject public healthcare organisations to compulsory audits of their data protection compliance under section 41A of the Data Protection Act 1998.
Read moreNew UK Procurement Rules Published for Consultation
Draft new Public Contracts Regulations 2015 and a Consultation Document on UK Transposition of the new EU Procurement Directives have recently been published by the Cabinet Office. This paves the way for the 2014 Directives to be implemented in the UK early next year.
Read moreFCA COMPLETES THEMATIC REVIEW OF MOBILE BANKING AND PAYMENTS
The Financial Conduct Authority (FCA) has recently published its findings following its thematic review of mobile banking and payments.
Read moreEU Consultation on Cloud Computing and Software
The EU has opened a public consultation to help define future research priorities in the areas of Cloud Computing and Software (including Open Source). Any and all stakeholders are invited to submit their views by 10 October 2014.
Read moreFurther welcome news from the FCA – this time on co-manufacturing
Following on from our earlier blog, our review of the FCA's 'Discussion Paper' (DP24/1) continues, this time considering the rules relating to co-manufacturers of insurance products.
Read morePotential deregulation and a pragmatic approach to commercial insurance – welcome news from the FCA
The FCA has published a 'Discussion Paper' (DP24/1) seeking feedback on its rules on commercial insurance including in respect of the types of commercial customers in-scope, co-manufacturing of products and bespoke insurance products.
Read moreThe Corporate Sustainability Due Diligence Directive expert briefing
The Corporate Sustainability Due Diligence Directive (CSDDD) was adopted on 24 May 2024 and was published in the Official Journal of the EU on 5 July. This means the law will enter into force 20 days later on 26 July, and will apply to companies from 2027.
Read moreCompliance Handbook Update: Bribery and corruption
The handbook emphasises providing compliance practitioners with insight into the practical application of FCA and PRA rules. Each chapter is discussed in the statutory and regulatory context with practical analysis of the subject, together with tips and guidance that firms may find helpful.
Read moreThe Digital Markets, Competition and Consumers Bill – What's New on the Competition Side?
In addition to the headline landscape reforms to digital markets and consumer protection, the much-anticipated Digital Markets, Competition and Consumers Bill (the Bill), introduced into Parliament on 25 April 2023, makes wide-ranging enhancements to the competition powers of the Competition and Markets Authority (the CMA) and changes to the UK merger regime.
Read moreThe Regulatory Initiatives Grid - consumer credit and payments
The latest Regulatory Initiatives Grid was recently published by the FCA and sets out the regulatory pipeline over a 24-month horizon to help firms and other stakeholders manage the operational impact on firms implementing initiatives, and plan forthcoming initiatives.
Read moreRegulatory pipeline 2023 and beyond – the Regulatory Initiatives Grid
The FCA recently published the fourth edition of its annual overview and plan for ongoing and upcoming regulatory initiatives (143 in total!)
Read more2023 Update - CAT Collective Proceedings
A new era of consumer-focussed competition class actions is now well underway. It kicked off with the first collective proceedings order (CPO) granted by the Competition Appeal Tribunal (CAT) in Merricks in the summer of 2021, opening the gates for further collective claims to be certified.
Read moreChanges incoming - Improving the Appointed Representatives regime
The FCA's changes to improve the appointed representatives regime takes effect on 8 December 2022. The changes are aimed at enhancing consumer protection and placing more responsibility on authorised financial services firms ("Principals") for their appointed representatives ("ARs").
Read moreUS and Chinese regulators sign landmark agreement on inspection of Chinese audit work
On 26 August 2022, the US Public Company Accounting Oversight Board (PCAOB) and the PRC China Securities Regulatory Commission (CSRC) and Ministry of Finance (MoF) signed a Statement of Protocol that would allow US regulators access to audits of Chinese companies listed on the US stock exchanges.
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 moreThe Powerful And The Penalised
With SRA fining powers set to increase by a factor of twelve, we look at the changes being introduced and the impact they will have.
Read moreOperational Resilience - preparations for 31 March 2022
The deadline of 31 March 2022 is approaching when new rules on operational resilience come into force.
Read moreTackling economic crime and sanctions evasion
The draft Economic Crime Bill is now on its way to the House of Lords, having received cross-party approval in the House of Commons.
Read moreHong Kong – Appeal case reviews adequacy of regulator’s reasons not to proceed with complaint
In Ng Shek Wai v HKICPA , the Court of Appeal reviewed the adequacy of the reasons for a regulator's decision that there was no prima facie case of professional misconduct. The issue arose in the context of an application for judicial review.
Read moreWhite-collar crime and compliance predictions for 2022
In a blink of an eye, we are moving into a new spring with a new set of challenges and opportunities facing businesses. Here are RPC's three white-collar crime and compliance predictions for 2022…
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 moreFCA's Perimeter Report – observations for the insurance market
In late October, the FCA published this year's version of its Perimeter Report. The Perimeter Report is intended to clarify some of the complexities about what the FCA does and does not regulate. It also sets out some areas where the FCA sees potential for customer harm.
Read moreRegulatory Initiative Grid sets out multi-regulator pipeline of planned/ongoing regulatory initiatives in the financial services market
At the beginning of the week, a number of UK regulators published this year's version of the 'Regulatory Initiatives Grid' which aims to provide a combined pipeline from a number of regulators on ongoing and planned regulatory initiatives affecting the financial services market. Regulators involved include, amongst others, the Financial Conduct Authority, Prudential Regulation Authority, Payments Systems Regulator and Information Commissioners Office.
Read moreRegulatory Initiative Grid sets out multi-regulator pipeline of planned/ongoing regulatory initiatives in the financial services market
At the beginning of the week, a number of UK regulators published this year's version of the 'Regulatory Initiatives Grid' which aims to provide a combined pipeline from a number of regulators on ongoing and planned regulatory initiatives affecting the financial services market. Regulators involved include, amongst others, the Financial Conduct Authority, Prudential Regulation Authority, Payments Systems Regulator and Information Commissioners Office.
Read moreAdams v Carey – where does the Court of Appeal's decision leave the SIPP market?
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.
Read moreSanctions – A New World?
The new UK sanctions regime (SAMLA) replaces EU sanctions in the UK, and sits alongside UN sanctions and US sanctions as a factor for businesses to consider in planning their anti-corruption and compliance matters. In particular it can impose trade sanctions, travel sanctions and financial sanctions, with tough financial penalties for non-compliance.
Read morePart 2: Top 5 corporate crime compliance trends for the year ahead
As we commence a new year in the midst of unprecedented global challenges, here is our take on the key financial crime risk and compliance trends you need to be aware of in 2021.
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