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The Medical Devices Regulation 2017 and good business practice
When it comes to risk management, businesses in general should take note of the issues covered by the Medical Devices Regulation 2017
Read moreNew pension transfer data – FCA's concerns remain
The FCA has published the results of data received from firms carrying out DB transfers and set out the next steps in its supervisory work.
Read moreGovernment Consultation on Adding Folic Acid to Flour
Last week the government began a consultation on whether to introduce mandatory fortification of flour with folic acid to help reduce neural tube defects in foetuses.
Read moreFCA and PRA jointly fine bank for repeated outsourcing failings
R. Raphael & Sons PLC (Raphaels), one of the UK's oldest lenders, has been criticised and fined jointly by the FCA and PRA after it was found that the bank had failed to manage its outsourcing arrangements properly.
Read moreWhat’s gone wrong with putting things right?
Solicitors are becoming concerned about their ability to put things right when they make mistakes. We do not consider that much has changed in this area. It is as important as it has always been for a solicitor to realise if he or she has made a mistake and to think carefully about how to remedy it. This is not an easy task. We hope this article will assist in guiding solicitors and their insurers through this complex area.
Read moreFinancial Reporting Council considers the test for "misconduct"
A recent Financial Reporting Council (FRC) Tribunal decision provides some welcomed clarity on the distinguishing features of misconduct and negligence for those in the accountancy profession.
Read moreBrexit delay prolongs uncertainty for insurers
Yesterday's announcement of Halloween as the new deadline for Brexit will prolong uncertainty for many UK insurers.
Read moreRoyal College of Surgeons call for Robust Reporting in the Private Healthcare Sector
The Royal College of Surgeons (the “RCS”) has today called for independent healthcare providers to “improve standards in the independent sector and prevent the circumstances that enabled Paterson to continue practising from happening again.”
Read moreVaginal mesh: the evidence
NICE guidelines inform debate over the evidence for the risks and benefits of mesh products
Read moreAll bets are off for binary options
Following consultation, the Financial Conduct Authority (FCA) announced on 29 March 2019 that, as of 2 April 2019, the sale, marketing and distribution of binary options (including securitised binary options) to retail consumers will be prohibited indefinitely.
Read moreA Right Royal Deadlock: Can "Crown" use unlock patented drug?
Can the Government settle the dispute between NHS and Vertex Pharmaceuticals through "Crown" use of the patented drug, Orkambi.
Read moreJudge makes alarming comments about validity of standstill agreements in Inheritance Act claims
In a recent judgment, the High Court has cast doubt on the extent to which the court will recognise standstill agreements in applications under the Inheritance (Provision for Family & Dependents) Act 1975.
Read moreSeeking the "right regulation" of digital services: Lords' Communications Committee articulates its vision
In 2018, Mark Zuckerberg, Facebook's CEO, told the US Senate Judiciary Committee that the question was no longer whether there should be regulation of the internet, but what is the right regulation.
Read moreLaw Society introduces new Code for Completion by Post
Conveyancing practitioners need of course to familiarise themselves with the new Code, in advance of its implementation date of 1 May 2019. Following Dreamvar, the new Code underlines the fact that the burden of detecting fraudulent sellers falls squarely on the sellers' solicitors.
Read moreOrgan Donation: The New Law
An "opt-out" system for organ donation is expected to come into effect in England next year after passing the final parliamentary vote this week
Read moreMedicinal Cannabis – How far have we really come?
Cannabis, for medicinal purposes, was legalised nearly four months ago in the UK, but how many patients are actually reaping the benefits, and how far have we really come?
Read more"Move fast and break things" (just not patients)
The AoMRC's report on Artificial Intelligence in Healthcare presents dilemmas for clinicians, hospital and industry
Read moreLOIs and liability for inducement of breach of contract
A recent Court of Appeal ruling highlights the risk to traders and, in particular, to their officers and employees personally, of giving/arranging a letter of indemnity to a carrier against liability arising out of delivery of goods without presentation of the bills of lading. This blog examines the risk of such arrangements giving rise to a liability on their part under the tort of procuring a breach of contract.
Read moreFCA promises "greater clarity" over Crypto regulation
The Financial Conduct Authority (FCA) has made further progress in relation to the regulation of cryptocurrencies such as bitcoin, in an attempt to tackle the growing market. The aim of regulation will be to provide greater clarity to both the industry and consumers.
Read moreCould the NHS Long Term Plan mean less opportunity for NHS contracts?
The NHS's Long Term Plan includes a provision to repeal elements of the Health and Social Care Act 2012; in this blog we consider the potential impact on private providers and their opportunity to tender for NHS contracts.
Read moreTrainees took on 2018: did we predict the unpredictable?
2018 certainly will not be forgotten in a hurry, and what a year it was. Brexit negotiations dominated headlines, Theresa May's 'Dancing Queen' routine went viral, and England made it to the semi-finals of the World Cup! No, we didn't predict that either.
Read moreFour UK financial crime compliance predictions for 2019
Last week we published our "UK white-collar crime enforcement predictions for 2019". This week, it is the turn of financial crime compliance.
Read moreHairdryer treatment for medical staff who accessed Sir Alex Ferguson's medical records
After the former Manchester United manager's medical records were accessed by staff at the Salford Royal Hospital, what are the likely GDPR and Data Protection Act consequences?
Read moreFour UK white collar crime predictions for 2019
The coming year presents itself as particularly unpredictable for white collar crime enforcement in the UK, given the shadow of Brexit, changes of staff at the SFO and a series of long-standing cases due for resolution. Nostradamus would struggle, but, nevertheless, here is RPC's forecast of what to expect in 2019.
Read morePension Transfers – FCA provides an end of year report
As the end of the calendar year approaches the FCA's recent publication indicated that the regulator remains concerned as to the suitability of pension transfer advice. If the FCA's recent review was an end of term school report this would be best summed up as "could do much better".
Read moreRegulation of cryptocurrencies inches ever closer
The long awaited regulation of cryptocurrencies has moved one step closer, with the Financial Conduct Authority (FCA) announcing plans to consult on regulation before the clock strikes twelve on 31 December 2018. The news comes after pressure for regulation has grown following a $15 billion crash.
Read moreThe Barclays Case – Criminal Corporate Liability
The UK Serious Fraud Office's (SFO) final attempt to prosecute Barclays in connection with Qatari loans ended on October 26 with the rejection of its High Court application to reinstate criminal charges against the bank.
Read moreAnti-money laundering legislation meets the art market
The art market is often described as the last unregulated market. Even if that is true, it is set to change in the next couple of years, with the market being brought firmly within the ambit of European Union anti-money laundering legislation.
Read moreCrypto Assets and ICOs as seen by the SMSG - Part 2
On 19 October 2018, the Securities and Markets Stakeholder Group (SMSG) published a report on initial coin offerings (ICOs) and crypto assets. The report is a useful one-stop shop for relevant definitions, classifications and statistics and we summarise the highlights in this two-part series.
Read moreInterest-only mortgages - the new PPI?
A new wave of complaints is hitting the mortgage market, concerning interest-only mortgages taken out before the financial crisis. Why is this happening and what should we look out for?
Read moreJackie Doyle-Price appointed Minister for the Prevention of Suicides
What is the role of the Minister for the Prevention of Suicides, and how will her appointment impact Insurers?
Read moreCrypto Assets and ICOs as seen by ESMA's SMSG
On 19 October 2018, ESMA's Securities and Markets Stakeholder Group (SMSG) published a report on initial coin offerings (ICOs) and crypto assets. The report is a useful one-stop shop for relevant definitions, classifications and statistics and we summarise the highlights in this two-part series.
Read moreStephen Hawking's big questions for Life Sciences
Stephen Hawking's posthumously published "Brief Answers to the Big Questions" is a fascinating foretelling of legal challenges that the life sciences sector may face.
Read moreFCA proposes FOS award limit increase to £350,000
The FCA has announced plans for an increase in the current FOS compensation cap. Currently standing at £150,000, the changes would see the limit increase to £350,000, an increase of 133%. It is also proposed that the limit will further increase automatically each year in line with inflation.
Read moreWhat's next for the FCA after Brexit?
Brexit - you can rarely go a day without hearing this word. But what does it mean in real terms for financial professionals? The FCA has acknowledged that a looming Brexit will have implications for how the FCA works in the future and has begun to discuss its plans.
Read moreMeet your new loss adjustor: the drone
Listed by Lloyd's in 2016 as an 'emerging risk', drones have caught insurers' attention in the last few years. However, the potential benefits for the industry go further than the new capital received from premiums.
Read moreRelief for Skilled Persons as the Court of Appeal rules they are not amenable to judicial review
In what circumstances might skilled persons appointed under FSMA be subject to judicial review? The Court of Appeal recently explored the vulnerability of skilled persons to judicial review and dismissed an application for judicial review against KPMG, acting as a skilled person on behalf of Barclays Bank, as it found the framework in which KPMG operated was not sufficient to bring it into the public law arena.
Read moreESMA renews restrictions on CFDs and binary options
The European Securities and Markets Authority (ESMA) has decided to renew intervention measures, which restrict the sale of contracts for difference (CFDs) and binary options to retail investors, for a further three months.
Read morePension watchdogs launch joint advertising campaign to warn against scammer tactics
The Financial Conduct Authority and The Pensions Regulator have launched a joint TV advertising campaign to raise awareness about pension scams and the common tactics deployed by fraudsters.
Read moreThe W&I tool in M&A
Neil Brown and Joy Tickler highlight the increasing use of warranty and indemnity insurance by M&A negotiators. Its use has rapidly increased over the past few years, becoming a strategic tool in the toolbox of any M&A negotiator. We set out here the reasons behind this ever-increasing trend, together with some of our observations on how W&I has been effectively deployed.
Read moreLetters of Credit under commodity contracts – keep the focus
This blog takes a look at the issues concerning the timing of the provision of letters of credit under commodity contracts and the importance, from both the buyer's and seller's perspective, of keeping an "eye on the ball".
Read moreDr Bawa-Garba wins appeal against strike off
On Monday, the Court of Appeal unanimously found in Dr Bawa Garba's favour meaning she now is able to seek work as a Junior Doctor.
Read moreTrustees of defined benefit schemes – are they on the hook for pension transfers? Yes says the Pension Ombudsman
The Pension Ombudsman has upheld a complaint against the trustees of a defined benefit scheme for failing to warn of the risks of a transfer to a pension liberation scheme. The Pension Ombudsman found that had the trustees provided documentation recommended under guidance from the Pension Regulator and identified and warned the member of certain hallmarks of a pension liberation scheme, the member would not have transferred his pension. The Pension Ombudsman has directed the trustees to reinstate the complainant's pension in the defined benefit scheme and pay £1,000 in distress and inconvenience.
Read moreEIOPA Report on Cyber Insurance raises awareness and understanding of cyber risk in the European market
The European Insurance and Occupational Pensions Authority ("EIOPA") has published a report "Understanding Cyber Insurance – A Structured Dialogue with Insurance Companies", which heralds its first attempt to enhance understanding of cyber risk with a focus on the European market.
Read moreOnline Prescriptions or Real Life Addictions?
With the rules around online prescribing set to be strengthened, we consider why these changes have come about, and what it might mean for patients and prescribers.
Read moreUS talc litigation has important lessons for UK insurers
Although it is unlikely litigation involving household staples such as talcum powder could succeed in the UK, the ongoing US litigation underlines a significant trend in product liability exposures.
Read moreNew rules for peer-to-peer lending announced by FCA
The popularity of peer-to-peer (P2P) lending has increased exponentially in recent years, with nearly £10 billion being transferred through such platforms in the past ten years. In an attempt to fix "increasingly complex business structures", the FCA has announced new plans for new rules for peer-to-peer (P2P) lending.
Read moreAccountants, auditors and actuaries beware: the FRC continues to show its teeth, as its future stands in the balance
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.
Read moreMedicinal Cannabis: the debate continues
With the debate over medicinal cannabis still going strong, we update you on recent developments which have dominated the headlines.
Read moreIntroducing the new Health Secretary…
Who is Matt Hancock, our new Health Secretary, and what impact will his appointment have?
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