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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

Lead market regulator's lawsuit includes professional advisers

Published on 09 Feb 2017. By Antony Sassi, Managing Partner, Asia and Samuel Hung, Partner

In another significant development in the Securities and Futures Commission's (SFC) efforts to combat market misconduct-type activity involving listed shares in Hong Kong, the lead market regulator has commenced civil proceedings under Section 213 of the Securities and Futures Ordinance (Cap 571) in respect of China Forestry Holdings Co Ltd (in official liquidation). What makes the proceedings noteworthy is that besides naming the company and two of its directors as co-defendants, the regulator's civil complaint also names two co-sponsors and the auditor involved with the company's initial public offering (IPO) in 2009.(1)

ECON scrutinises EBA's approach to RTS under PSD2

Published on 19 Dec 2016.

The EBA Chair has recently appeared before ECON to explain the EBA's approach to the development of RTS on strong customer authentication and secure communications under PSD2, and to answer concerns raised by the committee and others about these RTS.

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.

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.

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.

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.

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.

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.

Reforms to the FA's Regulations on Working with Intermediaries

Published on 01 Jul 2019. By Joshua Charalambous, Partner

RPC summarise the key changes to the FA's Regulations on Working with Intermediaries (the "Regulations"), and offer practical tips to agencies, clubs and players to manage their impact.

Smoke and mirrors? Big Tobacco slip(stream)s back into Formula One sponsorship deals

Published on 18 Feb 2019.

RPC reports on Philip Morris and British American Tobacco securing major partnerships with Ferrari and McLaren, prompting investigations into their compliance with domestic and international advertising laws.

CMA clamps down on unfair gambling promotions

Published on 01 Feb 2018. By Jeremy Drew, Partner, Head of Commercial

The CMA has spoken: online gambling operators must act now to avoid falling foul of misleading terms and practices. See below for our list of dos and don’ts.

Spurs 2 : 0 HMRC – termination payment not taxable earnings

Published on 20 Dec 2017. By Michelle Sloane, Partner and Adam Craggs, Partner

The Upper Tribunal (UT) has confirmed the decision of the First-tier Tribunal (FTT) that payments made by Spurs in respect of two players on early termination of their contracts were not earnings. They were termination payments and, therefore, were outside the scope of national insurance contributions (NICs).

Swansea City player Bony keeps former agents in play

Published on 14 Sep 2017. By Joshua Charalambous, Partner

In a dispute with his agents over secret commissions, Swansea City striker Wilfried Bony has succeeded in opposing a stay in English Court proceedings, which would have been implemented had the Court found he had agreed to arbitrate. The decision is an important reminder that national courts will have jurisdiction to hear a claim if the parties have not agreed (expressly or impliedly) to resolve the dispute using arbitration.

Edgar Davids wins League of Legends image rights claim

Published on 23 Aug 2017. By Joshua Charalambous, Partner

Dutch football icon Edgar Davids has succeeded in suing Riot Games – makers of the world's biggest video game and eSports phenomenon, League of Legends.

Barton succeeds in reducing betting ban

Published on 04 Aug 2017. By Joshua Charalambous, Partner

Joey Barton has succeeded in reducing the ban imposed on him by the FA Commission following breaches of FA Rules concerning betting – but he's still banned until 1 June 2018

Using VR in sports – virtual insanity or future reality?

Published on 01 Aug 2017.

Stoke City has become the latest Premier League club to announce that it will use virtual reality (VR) technology as a training tool for its goalkeepers.

A shot in the arm for football sponsorship – clubs take advantage of new shirt sleeve regulations

Published on 24 Jul 2017.

As forecasted in our blog post back in April, it wasn't long before other Premier League teams followed Manchester City's lead in announcing major tie-ups for shirt sleeve sponsorship.

Indian sports broadcast network 'bowled out' for breach of a media rights agreement

Published on 18 Jul 2017. By Joshua Charalambous, Partner

This article considers New Zealand Cricket (Incorporation) v Neo Sports Broadcast PVT Ltd in which the High Court exercised its discretion and lifted a stay to allow the claimant, New Zealand Cricket, to successfully obtain summary judgment on a breach of contract claim with elements of bad faith counter-arguments.

Bournemouth bets on shirt sponsorship deal with M88

Published on 05 Jul 2017. By Joshua Charalambous, Partner

AFC Bournemouth announces a two year deal with online gambling company M88, which includes shirt sponsorship and pitch-side branding.

Barton bets big and loses: sanctions, mitigation and next steps

Published on 15 May 2017. By Joshua Charalambous, Partner

What is the appropriate sanction for breaching the prohibition on betting on football matches, and what effect will mitigating factors have on the sanction?

Hacked – IAAF victim of cyber-attack compromising athlete data

Published on 10 Apr 2017.

The International Association of Athletics Federations (IAAF) has been subject to a data breach – allegedly by Russian hacking group Fancy Bears - potentially compromising the sensitive data of a number of athletes.

Sleeve sponsorship – a new trick up the sleeve for Premier League teams

Published on 03 Apr 2017.

The blog provides an insight into the consequences arising from the introduction of sleeve sponsors to the Premier League, with a particular focus on club's existing commercial arrangements and deals that are being negotiated/will be negotiated.

Going for Gold: A New Code for Sports Governance

Published on 30 Jan 2017. By Joshua Charalambous, Partner

Any sports body or organisation that wishes to rely on public funding must now comply with a new Code for Sports Governance, and it requires preparation now.

Chelsea swap Adidas for £900m Nike deal

Published on 28 Oct 2016. By Joshua Charalambous, Partner

Chelsea FC and Nike have agreed the largest kit sponsorship/ supply agreement in the English Premier League worth £900m (£60m per year for 15 years). The announcement comes nearly 6 months after the Chelsea and Adidas kit sponsorship/supply agreement was terminated part way through a 10 year term.

Sponsors drop lying Lochte - the fallout from Rio 2016

Published on 24 Aug 2016. By Jeremy Drew, Partner, Head of Commercial and Joshua Charalambous, Partner

Importance of anti-embarrassment clauses highlighted by US Olympic swimmer Ryan Lochte being dropped by sponsors, including Speedo and Ralph Lauren.

China’s richest man strikes deal to host new global football tournament

Published on 21 Jul 2016. By Joshua Charalambous, Partner

Earlier this month, it was reported that the Dalian Wanda Group planned to create a European club tournament to rival the UEFA Champions League.

Penalty saved by CAS with a little help from English Courts

Published on 06 Jun 2016. By Joshua Charalambous, Partner

World eSports Association formed

Published on 26 May 2016. By Joshua Charalambous, Partner

A new governing association was formed this month by the Electronic Sports League (“ESL”) and a number of eSports teams.

How will the "Genny lec" impact the world of cyber and tech?

Published on 24 Jun 2024. By Rachel Ford, Partner and Helen Monachan, Associate

On 22 May 2024, Prime Minister Rishi Sunak stood in the pouring rain to announce a General Election, thus commencing a summer of political and meteorological uncertainty for those in the UK.

2024 Amendments to the Cybersecurity Act 2018

Published on 19 Jun 2024. By Nick Lauw, Partner and Pu Fang Ching, Senior Associate

The Cybersecurity Act 2018 (the "Act") first came into force more than 6 years ago to establish a legal framework for the oversight and maintenance of national cyber security in Singapore.