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FOS proposals to clear the back-log - attractive or not?
The Financial Ombudsman Service (FOS) has proposed a temporary approach to the classification of certain complaints in an attempt to alleviate their complaints backlog exacerbated during the COVID-19 pandemic. The approach could see firms looking to pro-actively resolve complaints before a defined cut off date before FOS reaches a decision so that the complaint is recorded separately and not as a "change in outcome" (i.e. where a complaint has been rejected by a business and upheld by FOS). The consultation was open for a short two-week period between 4 and 18 October 2021.
Read moreAggregation under the solicitors' minimum terms: are primary layer insurers ready for potentially limitless liability?
In Baines v Dixon Coles & Gill the Court of Appeal has substantially limited the extent to which claims against solicitors can aggregate.
Read moreSolicitors' Undertakings: will the lacuna in the law undermine the smooth and efficient transaction of legal business
Solicitors undertakings are a vital tool in legal practice to ensure the smooth running of litigation and transactional matters.
Read moreRocha-Afodu v SRA – the regulator's powers over solicitors' private lives are examined again
If the boundary between a solicitor's professional and private lives were ever to be mapped, it would probably look like the coastline of Norway - infinitely complex, jagged and largely rocky. The da Rocha-Afodu v SRA decision ([2021] EWHC 1666 (Ch)) is another Divisional Court case exploring this difficult terrain, following upon that of Beckwith v SRA [2020] EWHC 3231 (Admin).
Read moreThe Regulatory Spotlight is shining bright and not just on AFMs
On 20 June 2021, the FCA published its findings from the review it carried out on host Authorised Fund Management firms during 2019-2020. The purpose of the review was "to test the viability of the host Authorised Fund Manager (AFM) business models and assess whether conflicts of interests were being effectively managed."
Read moreSupreme Court Changes to the Assessment of Loss in Professional Negligence Claims
On 18 June 2021 the Supreme Court handed down two judgments in cases examining the application of the SAAMCo principles. These are principles that have dominated the law of professional liability since 1997 and limited the recovery of damages by claimants against professionals. In these judgments the Supreme Court significantly alters the tests for determining whether a particular loss falls within the scope of duty of the professional.
Read moreA tale of loss, limitation and a flawed transaction: why a loss may not feel like a loss
A recent Court of Appeal decision, Elliott v Hattens [2021] Civ 720, has once again raised the vexed issue of when the limitation period starts to run in a flawed transaction case. Does it start running immediately or at some later date? .
Read moreEscalating ground rents: CMA takes further action against developers
A look at the recent developments in the leasehold market and the effects on leasehold owners and future purchasers.
Read moreIt's Cocoa, Jim, but not as we know it: Court's modern interpretation of underwriters' and brokers' duties #3 - A broker's harsh reality
This is the third article in our series following the decision in ABN Amro Bank N.V. v Royal & Sun Alliance Insurance plc and 13 Underwriters and Edge Brokers (London) Limited, in which RPC acted for Edge. Please click here for our first article, setting out a more detailed background to the case.
Read moreCompany Top Guns may face HMRC investigation
HMRC clamping down on furlough fraud by companies in Danger Zone
Read moreStamp Duty Holiday. Not a "holiday" for conveyancers.
In an attempt to prevent the housing market from stalling during the COVID 19 pandemic, a stamp duty holiday was announced for all residential purchases under £500,000 between 8 July 2020 and 31 March 2021.
Read moreBEIS issues White Paper: D&O perspective
The Department for Business Energy and Industrial Strategy (BEIS) has today released its White Paper, setting out its proposals for audit reforms and corporate governance, entitled "Restoring trust in audit and corporate governance".
Read moreSPACs Invaders – Implications for D&O insurers
The EU's former Financial Services Commissioner, Lord Hill, has delivered the anticipated UK Listing Review which contains recommendations for reform of the UK's current listing regime. This included changes to listing rules with a focus, amongst other things, on special purpose acquisition vehicles (SPACs). SPACs are more flexible than formal IPOs and are used to raise capital in order to merge with/acquire another company. In the US, commentators predict an increase in securities claims involving SPACs, so this development is potentially relevant to London market D&O insurers.
Read more800 DB Transfer complaints to the FOS: A 44% increase in one year
The FOS have seen the number of complaints relating to defined benefit transfer advice increase by 44% since 2019. However, the proportion of decisions being upheld appears to have fallen.
Read moreGameStop – a game of chicken?
The race to purchase shares in ailing American video game retailer, GameStop, has taken the investment world by storm over the last week, with amateur traders waging war on professional hedge funds.
Read moreSMCR: an effective deterrent?
The Senior Managers & Certification Scheme (SMCR) was introduced in early 2016 to establish "effective governance in firms by encouraging greater individual accountability". However, following a response to a recent Freedom of Information (FOI) request, questions have been raised as to its effectiveness as a deterrent.
Read morePart 36: avoid a storm, use the form!
Pepperall J's impressively clear judgment in Essex County Council v UBB Waste (2020) makes it abundantly clear that, when it comes to Part 36 Offers, the rules are strict. If litigants wish to reap the significant rewards of this regime, the price they must pay is to ensure they (or their solicitors) follow the rules on how offers should be made.
Read moreA Warning to Architects to be Smart about their Social Media
The Architects Registration Board has recently erased Peter Kellow from the register of architects as a result of a racist post on his Facebook which was publicly visible.
Read moreInvest in due diligence for dubious schemes
The SRA provides updated guidance for firms to avoid becoming involved in dubious investment schemes.
Read moreReflective loss in claims against solicitors and accountants after Marex
The so called "rule against reflective loss" has been clarified in an important decision handed down by the Supreme Court in Marex Financial Ltd v Sevilleja [2020] UKSC 31.
Read moreWhere there's a will there's a remote possibility of a way
In the face of the global COVID-19 pandemic the government has acted to change the law to allow wills to be witnessed remotely.
Read moreIs more co-operation the new normal?
What keeps you as a lawyer awake at night during the coronavirus pandemic? The list is likely to be very long and the fear of making a mistake will be close to the top. Help may come from some unexpected quarters such as the Courts.
Read moreRelief from sanction: claimant being forced to pursue his solicitors for negligence is not desirable
A recent High Court decision demonstrates a common-sense, realistic approach to relief from sanctions. Solicitors might have become used to judges, when striking claims out, reassuring the claimant that they can always sue their solicitors for negligence. In a welcome judgment, Mr Justice Fancourt reversed a decision to refuse relief from sanction.
Read moreThe Solicitors Disciplinary Tribunal: new rules, new game?
There are few things that strike fear into the heart of a solicitor more than the prospect of being sent to the Solicitors Disciplinary Tribunal. This article looks at its new rules of procedure.
Read moreJudicial guidance on listing of hearings remotely
Senior judges have issued guidance to the judiciary on listing hearings in light of the current coronavirus situation. This gives litigants some clues as to how the court will approach upcoming hearings.
Read moreDisciplinary investigations against architects #4 - investigations panel stage
Further to our previous three articles which provided (1) an overview of the Architect Registration Board's disciplinary process and (2) a review of the complaints stage (3) the review stage, this article explains the next stage of a disciplinary investigation against an Architect: the investigations panel stage.
Read moreLost chances à la Moda
Lost chance case-law has come a long way since the ground-breaking decision in Allied Maples. One of its more interesting offshoots is the case of Moda International Brands Ltd v Gateley LLP & Anor. Moda is required reading for any firm of solicitors who wants to defend a lost chance claim arising from its transactional work for a claimant.
Read moreCourt considers requirements for a condition precedent to litigation in Local Authority application
In Lancashire Schools SPC Phase 2 Ltd v Lendlease Construction (Europe) Ltd [2024] EWHC 37 (TCC) a local authority failed in its application to have the claim against it stayed or struck out on the basis of non-compliance with a contractual dispute resolution mechanism.
Read moreRICS PII Minimum Terms consultation – last chance to have your say
RICS requires all regulated firms in the UK and Ireland to hold "adequate and appropriate" indemnity insurance which meets RICS' Minimum Policy Wording.
Read moreFirst out the traps: Dissecting the first remediation order under the Building Safety Act
Our non-contentious construction team have recently contributed an article to Practical Law considering the first remediation order made by the First-tier Tribunal under section 123 of the Building Safety Act 2022 in Waite and others v Kedai Ltd (2023) LON/00AY/HYI/2022/0005 & 0016.
Read moreThe proposed new RICS Residential Retrofit Standard
We explain the proposed RICS Residential Retrofit Standard and offer practical tips for complying with the new Standard when it comes into force.
Read moreCoA paves the way for the responsible developer
Our team explore a recent judgment that touches on crucial factors for developers and construction professionals when dealing with remedying defects in buildings.
Read moreRICS disciplinary process: guidance for surveyors on sanctions (4 of 4)
This fourth article considers the sanctions the RICS can impose and the next steps for surveyors following a disciplinary decision.
Read moreBSA: new guidance for principal accountable persons to assist in registration with BSR
Our team explain the Health & Safety Executive's new guidance for Principal Accountable Persons detailing what key building information they need to provide when registering a high-rise residential building with the Building Safety Regulator, and what PAPs should be doing now in preparation for registration, which closes on 30 September 2023.
Read moreThe fit-out problem
An article considering the insurance strategy of fit-out works, which looks at co-insurance following the Court of Appeal's judgment in FM Conway Ltd v The Rugby Football Union and others [2023] EWCA Civ 418, the approach under JCT contracts, public liability insurance and the tenant's liability.
Read moreResponsible Actors Scheme forecast for Summer 2023
The Government has recently published secondary legislation setting out its intention to implement its Responsible Actors Scheme (RAS) with further guidance to come by this Summer.
Read moreBSA: Higher-Risk Buildings Regulations now in force - Property Managers Take Note
The Government has been working on safety measures for high rise buildings following the Grenfell Tragedy to provide comfort to residents in order for them to feel safe in their homes.
Read moreTo be or Knot to be, a nuisance?
One year on , has the recent decision of Davies v Bridgend County Council (BCC) helped or hindered that goal?
Read moreSt James’s Oncology v Lendlease: the value of project-specific amendments to JCT contracts
The recent judgment of the TCC in St James’s Oncology SPC Ltd (Project Co) v Lendlease Construction (Europe) Ltd and another provides a fascinating commentary on the importance of drafting a building contract that is tailored to deliver the needs of the employer and the end-user.
Read moreBuilding Safety Levy – Government Undertaking Second Consultation
The Government has just announced it is commencing another consultation on building safety, this time by way of second consultation on the Building Safety Levy ("the Levy").
Read moreTwo-stage procurement: some key considerations for PCSAs
In our previous blog post, we introduced two-stage procurement and two key options for documenting it (a pre-construction services agreement (PCSA) followed by a separate main works contract and a Combined PCSA/Main Contract) noting that the differences were generally presentational or mechanical. For the purposes of this post, we will refer only to the PCSA and main contract option, but please note that the same principles apply to the Combined PCSA/Main Contract.
Read moreCladding and Valuation: Important RICS guidance under consultation until 31 October 2022 – have your say!
The consultation is part of RICS' plan to introduce a new professional standard for valuing properties in multi-storey, multi-occupancy residential buildings with cladding. This will take the form of an RICS-approved technical guidance note, with the objective of supporting an effective homebuying market.
Read moreTwo-stage procurement
In a recent survey undertaken as part of the RIBA Construction Contracts and Law Report 2022, it was reported that over a third (37%) of respondents had used two-stage procurement over the last 12 months. We are similarly seeing two-stage procurement being used more and more in the construction industry, particularly for major building projects. In fact, the majority of recent development projects we have advised on in the UK were procured on a two-stage basis.
Read moreIs an Alternative Dispute Resolution (ADR) clause a condition precedent? And even if it is, is it always enforceable?
The Case of Children's Ark Partnerships Ltd v Kajima Construction (Europe) UK Ltd and another [2022] EWHC 1595 (TCC) considers ADR clauses in more detail and highlights the importance of ensuring there is sufficient detail regarding the ADR process within the contract, failing which may result in serious consequences including challenges to the court's jurisdiction and a stay of proceedings.
Read moreEWS1 update
A joint statement made by The Royal Institution of Chartered Surveyors ('RICS') and six major lenders has clarified the position of the lender and valuation industries with regard to fire safety remedial works and mortgage lending.
Read moreRICS revised Rules of Conduct – coming soon
The RICS's new Rules of Conduct are due to come into force on 2 February 2022. The rules combine the previously separate codes for individuals and firms in force since 2007 with the Global Professional and Ethical Principles from 2009, with the intention of providing a single, concise summary of all relevant principles, in order to allow RICS member firms and clients to understand what good professional practice looks like.
Read moreDoes it matter if "the price is right"?
The recent case of Serene Construction Ltd v Salata and Associates Ltd has offered further insight on the Courts' approach to claims against bank-appointed receivers where they are instructed to market and sell land.
Read moreThe Week That Was - 5 November 2021
Welcome to The Week That Was, a round-up of key events in the construction sector over the last seven days.
Read moreThe Week That Was - 29 October 2021
Welcome to The Week That Was, a round-up of key events in the construction sector over the last seven days.
Read moreThe Week That Was - 22 October 2021
Welcome to The Week That Was, a round-up of key events in the construction sector over the last seven days.
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