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ESMA cracks down on the sale of binary options and CFDs to retail investors

Published on 29 Mar 2018. By Lucy Kerr, Senior Associate

The European Securities and Markets Authority (ESMA) has announced its intention to prohibit the sale of binary options to retail investors and to place restrictions on the sale of contracts for difference (CFDs). This is the first use of ESMA's new intervention powers under MiFID II.

FCA reviews approach to enforcement and penalties

Published on 28 Mar 2018. By Ash Daniells, Senior Associate and Sarah Dowding, Senior Associate

The FCA has announced plans in its recent consultation paper on enforcement to review how it applies penalties which have gone from record highs to record lows over the past 5 years.

Changes on the horizon - FCA consults on non-workplace pensions

Published on 22 Feb 2018. By Rachael Healey, Partner

The FCA has issued a discussion paper targeted at the non-workplace pension market. The paper marks the start of the FCA's work looking at whether there is harm in the non-workplace pension market and to better understand the potential presence, nature, extent and cause of any harm.

Privilege: A welcome respite from ENRC?

Published on 05 Feb 2018. By Davina Given, Partner and Mafruhdha Miah, Senior Associate

Are interviews held with employees to prepare a report intended to deter a governmental authority from taking legal action privileged?

ESMA to use new powers to attack the sale of CFDs and binary bets to retail investors

Published on 25 Jan 2018. By Lucy Kerr, Senior Associate

ESMA has launched a public consultation on measures to protect retail investors investing in contracts for difference (CFDs) and binary bets. Potential changes include wide-ranging restrictions on the marketing and sale of CFDs, and a complete prohibition on the sale of binary bets to retail investors. An intervention would mark ESMA's first use of its new powers under MiFID II, which came into force on 3 January.

The FCA pledges to take action against providers of contracts for difference

Published on 12 Jan 2018. By Lucy Kerr, Senior Associate

The FCA has concluded that consumers are at "serious risk of harm" due to the poor practices of some providers and distributors of CFDs. The regulator will take further action against at least one firm in its latest crack-down on these "complex, high-risk" products.

Thoughts on the FCA's fund fee transparency proposals

Published on 11 Jan 2018.

Alternative investment funds may soon be required to report total cost of ownership in a standardised form. Work on new templates in ongoing, and fund managers need to be aware of the situation and to be involved in this important debate that has so far been largely overlooked.

Initial Coin Offerings – the digital financing process under global scrutiny

Published on 08 Dec 2017. By Rachel Ford, Partner

In an era of social media platforms and the like, the technological world creeps into its corporate counterpart of today. Initial Coin Offerings (ICOs) storm the corporate world by force, but what does the future hold for the new phenomenon?

FCA revisits FSCS funding proposals, and abandons plans for significant changes to professional indemnity insurance requirements

Published on 01 Nov 2017. By Robert Morris, Partner

The FCA has published a second consultation paper on the thorny subject of FSCS funding. Although not widely reported so far, the new consultation makes it clear that the FCA will not, after all, consult on significant changes to personal investment firms' professional indemnity insurance requirements.

FCA allows confidential report to be scrutinised by Treasury Select Committee

Published on 31 Oct 2017.

The FCA has allowed the Treasury Select Committee to review its s.166 report into RBS' Global Restructuring Group (GRG) and has published an interim summary of the report. It is possible that the threat of publication will play on the minds of firms subject to s.166 reports, which may reduce cooperation with skilled persons and therefore the efficacy of this investigatory power.

The FCA makes clear its expectations of financial advisers

Published on 18 Oct 2017.

FCA, regulatory, financial services

FCA criticised by Complaints Commissioner for its handling of enforcement limitation issues

Published on 04 Oct 2017. By Lucy Kerr, Senior Associate

The Office of the Complaints Commissioner recently upheld two complaints against the FCA for making a "serious mistake" in its management of limitation issues for two connected investigations. The Commissioner criticised the FCA not only for its mismanagement of the limitation issue, but also for the unnecessary delays in concluding its own internal investigation into these complaints.

DB Transfers - now what?

Published on 04 Oct 2017. By Rachael Healey, Partner

We know that the FCA is looking closely at defined benefit transfers; we already have the FCA's review of redress methodology and the defined benefit transfer rules. We now have the results of the FCA's review, into defined benefit transfers and it makes for uncomfortable reading for the financial services industry.

MiFID II & Inducements

Published on 21 Sep 2017. By Matthew Watson, Partner

FCA MiFiD Inducements Consultation Paper

Weighty issues for diet app developers

Published on 04 Jan 2022. By Dorothy Flower, Partner

2022 is set to be the year of the diet app. The distinction between what is a mere lifestyle app and what should in fact be a regulated medical product or service can be difficult to assess.

Stay on top of Intellectual Property

Published on 20 Apr 2021. By Ciara Cullen, Partner and Ben Mark, Partner and Sarah Mountain, Partner

Whether you’re just starting out or launching a new product, there are a wealth of intellectual property issues to consider in the world of distilling. Here, Ciara Cullen, Ben Mark and Sarah Mountain outline those do’s and don’ts, the changing landscape and how to thrive in 2021 and beyond.

Technology in Insurance

Published on 22 Jun 2022. By William Hogarth, Partner

On 16 June 2022 RPC hosted an afternoon of talks and panel sessions on the theme of 'Technology in Insurance', the culmination of the firm's TechWeek which brings market experts and lawyers together to discuss risks and opportunities with new technologies within different business sectors.

Digital Markets, Competition and Consumers Act becomes law

Published on 04 Jun 2024. By David Cran, Partner, Head of IP & Tech and Chris Ross, Partner and Melanie Musgrave, Of Counsel

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

Criminal Liability for Senior Managers under the Online Safety Act

Published on 05 Oct 2023. By Jessica Kingsbury, Associate

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.

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's enhanced e-reporting system for internet fraud

Published on 06 Oct 2022. By Jonathan Crompton, Partner

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.

European Parliament formally adopts Digital Services Act

Published on 16 Aug 2022. By David Cran, Partner, Head of IP & Tech and Sophie Tuson, Senior Associate and Joshy Thomas, Knowledge Lawyer

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.

Football regulator heralds new era for The Beautiful Game

Published on 18 May 2022. By Jeremy Drew, Partner, Head of Commercial and Joshua Charalambous, Partner

Last month, sports minister Nigel Huddleston formally confirmed the government’s support for the 10 strategic recommendations set out in the final report published last December by the independent fan-led review into governance, ownership and sustainability in English football.

RPC Insurtech in brief - January 2022

Published on 14 Jan 2022. By Neil Brown, Partner and Daniel Guilfoyle, Partner and Lauren Murphy, Senior Associate

Welcome to the January edition from RPC of Insurtech in brief, providing you with a handful of snappy monthly updates from the industry.

RPC Insurtech in brief - October 2021

Published on 21 Oct 2021. By Neil Brown, Partner and Daniel Guilfoyle, Partner and Lauren Murphy, Senior Associate

Welcome to the October edition from RPC of Insurtech in brief, providing you with a handful of snappy monthly updates from the industry.

RPC Insurtech in brief - November 2021

Published on 21 Oct 2021. By Neil Brown, Partner and Daniel Guilfoyle, Partner and Lauren Murphy, Senior Associate

Welcome to the November edition from RPC of Insurtech in brief, providing you with a handful of snappy monthly updates from the industry.

RPC Insurtech in brief - September 2021

Published on 14 Sep 2021. By Neil Brown, Partner and Daniel Guilfoyle, Partner and Lauren Murphy, Senior Associate

Welcome to the September edition from RPC of Insurtech in brief, providing you with a handful of snappy monthly updates from the industry.

RPC Insurtech in brief - August 2021

Published on 16 Aug 2021. By Neil Brown, Partner and Daniel Guilfoyle, Partner and Lauren Murphy, Senior Associate

Welcome to the August edition from RPC of Insurtech in brief, providing you with a handful of snappy monthly updates from the industry.

RPC Insurtech in brief - July 2021

Published on 16 Jul 2021. By Neil Brown, Partner and Daniel Guilfoyle, Partner and Lauren Murphy, Senior Associate

Welcome to the July edition from RPC of Insurtech in brief, providing you with a handful of snappy monthly updates from the industry.

RPC Insurtech in brief - June 2021

Published on 17 Jun 2021. By Neil Brown, Partner and Daniel Guilfoyle, Partner and Lauren Murphy, Senior Associate

Welcome to the June edition from RPC of Insurtech in brief, providing you with a handful of snappy monthly updates from the industry.

RPC Insurtech in brief - May 2021

Published on 10 May 2021. By Neil Brown, Partner and Daniel Guilfoyle, Partner and Lauren Murphy, Senior Associate

Welcome to the May edition from RPC of Insurtech in brief, providing you with a handful of snappy monthly updates from the industry.

Sports Ticker (10 May 2021) - Para-sport basketball league, Premier League TV Rights and Olympic Virtual Series

Published on 10 May 2021. By Jeremy Drew, Partner, Head of Commercial and Joshua Charalambous, Partner and Samuel Coppard, Senior Associate

Welcome to the latest edition of the RPC Sports Ticker - providing fortnightly bite-size updates from around the sports industry.

Sports Ticker (22 April 2021) - Super League, full stadiums and Coin for Respect

Published on 23 Apr 2021. By Jeremy Drew, Partner, Head of Commercial and Joshua Charalambous, Partner and Samuel Coppard, Senior Associate

Welcome to the latest edition of the RPC Sports Ticker - providing fortnightly bite-size updates from around the sports industry.

RPC Insurtech in brief April 2021

Published on 07 Apr 2021. By Neil Brown, Partner and Daniel Guilfoyle, Partner and Lauren Murphy, Senior Associate

Welcome to the April edition from RPC of Insurtech in brief, providing you with a handful of snappy monthly updates from the industry.

Sports Ticker (12 Mar 2021) - Rugby World Cup, Fenway Sports Group and Dettol

Published on 12 Mar 2021. By Jeremy Drew, Partner, Head of Commercial and Joshua Charalambous, Partner and Samuel Coppard, Senior Associate

Welcome to the latest edition of the RPC Sports Ticker - providing fortnightly bite-size updates from around the sports industry.

RPC Insurtech in brief – March 2021

Published on 05 Mar 2021. By Neil Brown, Partner and Lauren Murphy, Senior Associate

Welcome to the latest edition from RPC of Insurtech in brief, providing you with a handful of snappy monthly updates from the industry.

Sports Ticker (25 Feb 2021) - England Cricket partnership, New Balance and Fantasy Premier League

Published on 25 Feb 2021. By Jeremy Drew, Partner, Head of Commercial and Joshua Charalambous, Partner and Samuel Coppard, Senior Associate

Welcome to the latest edition of the RPC Sports Ticker - providing fortnightly bite-size updates from around the sports industry.

Sports Ticker (12 February 2021) - Super Bowl LV, NBA investment and Ligue 1 broadcasting

Published on 12 Feb 2021. By Jeremy Drew, Partner, Head of Commercial and Joshua Charalambous, Partner and Samuel Coppard, Senior Associate

Welcome to the latest edition of the RPC Sports Ticker - providing fortnightly bite-size updates from around the sports industry.

RPC Insurtech in brief – January 2021

Published on 29 Jan 2021. By Neil Brown, Partner and Lauren Murphy, Senior Associate

Welcome to the latest edition from RPC Insurtech in brief providing you with a handful of snappy monthly updates from the industry.

RPC Insurtech in brief – December 2020

Published on 15 Dec 2020. By Neil Brown, Partner and Lauren Murphy, Senior Associate

Welcome to the latest edition from RPC Insurtech in brief providing you with a handful of snappy monthly updates from the industry.

The risk of cyber threats to sports organisations (and key steps to reduce exposure)

Published on 01 Dec 2020. By Jon Bartley, Partner and Joseph Akwaboa, Associate

Manchester United FC's recent cyber-attack came just weeks after an article we wrote for LawInSport on the topic.

New virtual insurer for Hong Kong

Published on 29 Apr 2020. By Andrew Carpenter, Partner

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.

Future Fund

Published on 24 Apr 2020. By Sukh Ahark, Partner, Co-head of India Practice and Lauren Murphy, Senior Associate

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.

Loot Boxes: what's in the box?

Published on 29 Jan 2020. By Jonathan Greenway, Senior Associate

On 12 September 2019 the House of Commons Digital, Culture, Media and Sport Committee (DCMS) released its report into what it calls "immersive and addictive technologies".

Sheffield United, or divided? Implying duties of good faith

Published on 04 Nov 2019. By Jeremy Drew, Partner, Head of Commercial and Samuel Coppard, Senior Associate

The High Court has held that the duty to act with good faith should not be implied into an agreement between the owners of Sheffield United FC.

Sporting compromise – tips for settling sports disputes

Published on 24 Oct 2019. By Jeremy Drew, Partner, Head of Commercial and Joshua Charalambous, Partner

Some practical tips for sports clubs when settling disputes – with a focus on those issues that regularly arise in a sporting context.

Look what you made me do – avoid inducing a breach of a sporting contract

Published on 12 Sep 2019. By Joshua Charalambous, Partner and Samuel Coppard, Senior Associate

eFootball transfers: Juve and Man U snub FIFA to sign for PES

Published on 07 Aug 2019.

The RPC Sports group round-up football eSports deals: Juventus and Manchester United sign eSports partnerships with Pro Evolution Soccer, whilst Liverpool FC partners with FIFA.

Spurs suffer Champions League defeat to the Advertising Standards Authority

Published on 08 Jul 2019.

Spurs' heartbreak in Madrid was not the only loss they suffered on their Champions League journey this year. A tweet from Spurs announcing their line-up for their knock-out game against Borussia Dortmund featured the gambling operator William Hill, and was ruled to contravene the CAP Code.

RPC provides response to 'Online harms' consultation

Published on 02 Jul 2019.

This consultation response is submitted on behalf of RPC's Tech Group*. RPC is an international law firm with offices in London, Bristol, Hong Kong and Singapore. RPC acts for a range of clients from start-ups to multi-nationals in the technology, media, and retail sectors and for their insurers. RPC's Tech Group provides specialist advice on regulation, content liability, commercial contracts, outsourcing, data protection, cyber, intellectual property, e-commerce, and investigations and disputes. Views expressed in this submission do not necessarily represent those of our clients.