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Reform of audit industry: it's time to split

Published on 28 Jul 2020. By Davina Given, Partner

Audit has been the subject of intense scrutiny over the past few years in the wake of a series of high-profile business collapses such as Carillion, Patisserie Valerie and Thomas Cook in the UK and, more recently, Wirecard in Germany, and there is no shortage of calls for reform of the audit industry.

Medical Devices Regulation on the horizon

Published on 09 Jul 2020.

The EU Regulation on Medical Devices 2017/745 (the MDR) had been due to become fully applicable on 26 May 2020.

Audit market: From recommendations to reforms

Published on 09 Jul 2020. By Davina Given, Partner

The Brydon Report on audit quality and effectiveness was released on 18 December 2019. The Report sets out recommendations for “urgent reform” in order to increase public confidence and seek to prevent unnecessary corporate failures.

SMCR: The tricky implementation phase

Published on 09 Jul 2020. By Lucy Kerr, Senior Associate

The Senior Managers and Certification Regime (SMCR) came into force for all financial services firms solo-regulated by the Financial Conduct Authority (FCA) on 9 December 2019. The SMCR replaces the previous APER regime under which the FCA had oversight of the individuals working in the financial services industry. There is a one year implementation period for firms to make the changes required by the SMCR, which expires on 9 December 2020.

Regulatory Radar 2020/21

Published on 09 Jul 2020.

Welcome to the 2020/21 edition of RPC’s annual Regulatory Radar – a guide to the key regulatory changes worth having on your radar. We hope this will be a useful resource, helping you scan the regulatory horizon and highlight changes that could impact your business.

Regulatory update - June 2020

Published on 26 Jun 2020. By Gavin Reese, Partner, Head of Regulatory

Welcome to the June edition of our monthly Regulatory Update, which aims to pull together key developments from the past month across the various UK regulators – and help you to navigate the regulatory maze.

COVID-19: The Dairy Sector and Welsh health services granted temporary UK competition law exemptions and the European Commission issues first 'Comfort Letter' to Pharmaceutical Manufacturers

Published on 01 Jun 2020. By Melanie Musgrave, Of Counsel

The UK Government has granted a temporary competition law exemption for certain collaboration within the dairy sector and Welsh health services and the European Commission has published its first 'comfort letter' to allow co-operation to ensure supplies of medicines for COVID-19 patients.

Regulated Activities Order amendments for the new Bounce Back Loan Scheme

Published on 05 May 2020.

On 1 May 2020, the Financial Services and Markets Act 2000 (Regulated Activities) (Coronavirus) (Amendment) Order 2020 was published and came into force on 4 May 2020.

Regulatory Roundup Q1 2020

Published on 30 Apr 2020. By Gavin Reese, Partner, Head of Regulatory

Welcome to the Spring edition of the Regulatory Roundup, which aims to pull together the key developments across regulatory regimes – and help you to navigate the maze.

COVID-19: What is the CMA's current approach to UK merger assessment?

Published on 29 Apr 2020. By Melanie Musgrave, Of Counsel

The CMA has been adapting its working practices to react to the ongoing challenges of a change in working environment that has an impact on almost all businesses.

COVID-19: Coronavirus and Competition Law - The Current Enforcement Scene

Published on 06 Apr 2020. By Melanie Musgrave, Of Counsel

COVID-19: CMA provides guidance to business on its approach to co-operation in response to the pandemic

Published on 01 Apr 2020. By Melanie Musgrave, Of Counsel

Businesses, which do not benefit from the specific competition law exemptions granted by the Secretary of State (in the groceries, Solent Ferries and healthcare services sectors), may co-operate without fear of enforcement action by the Competition and Markets Authority (the "CMA"), provided that this co-operation is undertaken "solely to address concerns arising from the current crisis and does not go further or last longer than what is necessary".

Key regulatory guidance following COVID-19 pandemic

Published on 27 Mar 2020. By Gavin Reese, Partner, Head of Regulatory

As the world tackles the COVID-19 pandemic, the UK’s Regulators have published a host of useful guidance that firms should take good note of during this period of uncertainty. While not an exhaustive list, we hope this summary highlights the key obligations and requirements currently being brought in by the Regulators.

Regulatory update - March 2020

Published on 27 Mar 2020. By Gavin Reese, Partner, Head of Regulatory

Welcome to the March edition of our monthly Regulatory Update, which aims to pull together key developments from the past month across the various UK regulators – and help you to navigate the regulatory maze.

Regulatory update - February 2020

Published on 13 Feb 2020.

Welcome to the February edition of our monthly Regulatory Update, which aims to pull together key developments from the past month across the various UK regulators – and help you to navigate the regulatory maze.

Regulatory update - January 2020

Published on 15 Jan 2020.

Welcome to the January edition of our monthly Regulatory Update, which aims to pull together key developments from the past month across the various UK regulators – and help you to navigate the regulatory maze.

Regulatory update - December 2019

Published on 11 Dec 2019.

Welcome to the December edition of our monthly Regulatory Update, which aims to pull together key developments from the past month across the various UK regulators – and help you to navigate the regulatory maze.

Regulatory update - November 2019

Published on 11 Nov 2019.

Welcome to the November edition of our monthly Regulatory Update, which aims to pull together key developments from the past month across the various UK regulators – and help you to navigate the regulatory maze.

Regulatory update - October 2019

Published on 10 Oct 2019. By Gavin Reese, Partner, Head of Regulatory

Welcome to the October edition of our monthly Regulatory update, which aims to pull together key developments from across the various UK regulators – and help you to navigate the regulatory maze.

Snapshots Summer 2024

Published on 01 Aug 2024. By Oliver Bray, Senior Partner and David Cran, Partner, Head of IP & Tech

A roundup of key legal developments for the modern commercial lawyer.

Snapshots Spring 2024

Published on 17 Apr 2024. By Oliver Bray, Senior Partner and David Cran, Partner, Head of IP & Tech

A roundup of key legal developments for the modern commercial lawyer.

Express and implied good faith obligations and relational contracts

Published on 13 Dec 2023. By David Cran, Partner, Head of IP & Tech

Did an express or implied general duty of good faith arise under a relational contract between parties who were also competitors?

Interest clauses – displacing the courts’ wide discretionary powers to award interest on debt or damages

Published on 13 Dec 2023. By David Cran, Partner, Head of IP & Tech

What is the courts’ approach to awarding statutory interest when a contract provides for contractual interest.

Incorrect invoicing – claiming the difference between sums mistakenly invoiced and sums correctly due under agreement terms

Published on 13 Dec 2023. By David Cran, Partner, Head of IP & Tech

When a supplier invoices a lower sum than the figure due under the agreement, can the customer defend a claim in debt based on incorrect invoicing?

SPA breach of warranty claim – interpreting a no material adverse change warranty

Published on 13 Dec 2023. By David Cran, Partner, Head of IP & Tech

How will the courts assess an alleged breach of a warranty that there had been no material adverse change in the financial prospects of a company?

Exclusion clauses - loss of profits and wasted expenditure

Published on 13 Dec 2023. By David Cran, Partner, Head of IP & Tech

What factors does the court take into account when construing an exclusion clause that covered loss of profits and wasted expenditure, and how does the court approach arguments on whether UCTA applies where the parties are dealing on standard terms of business that have been subject to some negotiation?

Excluding statutory implied terms – inequality of bargaining power considerations

Published on 13 Dec 2023. By David Cran, Partner, Head of IP & Tech

In what circumstances is it reasonable to exclude the statutory implied term as to quality?

Snapshots Winter 2023

Published on 12 Dec 2023. By Oliver Bray, Senior Partner and David Cran, Partner, Head of IP & Tech

A roundup of key legal developments for the modern commercial lawyer.

Snapshots Autumn 2023

Published on 25 Oct 2023. By Oliver Bray, Senior Partner and David Cran, Partner, Head of IP & Tech

A roundup of key legal developments for the modern commercial lawyer.

Snapshots Summer 2023

Published on 07 Jul 2023. By Oliver Bray, Senior Partner and David Cran, Partner, Head of IP & Tech

A roundup of key legal developments for the modern commercial lawyer.

Snapshots Spring 2023

Published on 31 Mar 2023. By Oliver Bray, Senior Partner and David Cran, Partner, Head of IP & Tech

A roundup of key legal developments for the modern commercial lawyer.

Snapshots Winter 2022

Published on 23 Dec 2022. By Oliver Bray, Senior Partner and David Cran, Partner, Head of IP & Tech

A roundup of key legal developments for the modern commercial lawyer.

UK Government sets out proposals for regulation of AI

Published on 10 Oct 2022. By Oliver Bray, Senior Partner

What are the UK Government’s plans for the future regulation of artificial intelligence (AI)?

Ofcom prepares for implementation of Online Safety Bill

Published on 10 Oct 2022. By Oliver Bray, Senior Partner

How and when does Ofcom expect to carry out its new regulatory function for online safety created by the Online Safety Bill?

ICO to focus on vulnerable and disadvantaged in new three-year plan

Published on 10 Oct 2022.

How does the UK’s Information Commissioner’s Office (ICO) propose to protect the data of those most vulnerable in society?

European Parliament adopts the Digital Markets Act and the Digital Services Act

Published on 10 Oct 2022. By Oliver Bray, Senior Partner

What are the next steps in the legislative timelines for the Digital Markets Act (DMA) and the Digital Services Act (DSA) and what should companies be doing now to prepare?

European Commission publishes Q&As on the new Standard Contractual Clauses

Published on 10 Oct 2022.

What does the latest guidance from the European Commission tell us about the new Standard Contractual Clauses (SCCs) under the EU’s General Data Protection Regulation (GDPR)?

UK announces new copyright exemption for text and data mining to promote AI development

Published on 10 Oct 2022. By Oliver Bray, Senior Partner

What does the UK Government’s response to its consultation on Intellectual Property (IP) and Artificial Intelligence (AI) mean for text and data mining?

The EU Accessibility Act

Published on 10 Oct 2022. By Oliver Bray, Senior Partner

What obligations will the EU Accessibility Act place on companies that manufacture or provide in-scope products and services?

The UK’s new Data Protection and Digital Information Bill

Published on 10 Oct 2022.

Will the Data Protection and Digital Information Bill achieve its stated aim of encouraging innovation and easing the burden of compliance for businesses, while upholding high data protection standards?

Snapshots Autumn 2022

Published on 10 Oct 2022. By Oliver Bray, Senior Partner

A roundup of key legal developments for the modern commercial lawyer.

Improper threats to disclose private and commercially sensitive information obtained from conversation overheard during acquisition negotiation

Published on 10 Oct 2022. By David Cran, Partner, Head of IP & Tech

Can the court prevent disclosure of information of a confidential nature obtained from a private conversation overheard by the opposing party during a negotiation?

Court of Appeal construes “affiliates” in settlement agreement release clause widely to include own as well as other party affiliates

Published on 10 Oct 2022. By David Cran, Partner, Head of IP & Tech

Will a court give a broadly drafted “full and final settlement” release clause its natural meaning to release all affiliates including a party’s own affiliates?

The new Product Security and Telecommunications Infrastructure Bill

Published on 10 Oct 2022. By Oliver Bray, Senior Partner

What will the proposed Product Security and Telecommunications Infrastructure Bill (Bill) mean for manufacturers, importers and distributors of connectable consumer products?

European Commission forces consumer and advertising changes on TikTok

Published on 10 Oct 2022. By Oliver Bray, Senior Partner

How does the European Commission enforce consumer and advertising rules against technology companies who are rapidly adapting their use of content and data?

Restraint of trade covenants – post-termination non-compete clause invalid as no legitimate interest to protect

Published on 10 Oct 2022. By David Cran, Partner, Head of IP & Tech

In what circumstances will a non-compete clause imposing restrictions on a party after the termination of an agreement be enforceable?

Implied novation by conduct despite contract requiring variations and termination to be in writing

Published on 10 Oct 2022. By David Cran, Partner, Head of IP & Tech

Will an express unilateral termination clause or a clause requiring any variation to the contract to be in writing prevent an implied novation from occurring?

Force majeure clause construction – Covid-19 temporary delay not “inability to perform” leading to valid termination of contract

Published on 10 Oct 2022. By David Cran, Partner, Head of IP & Tech

Did a temporary delay caused Covid-19 restrictions allow a party to rely on a force majeure clause to terminate a contract?

New ASA guidance on enhanced disclosure of ads aimed at children

Published on 10 Oct 2022. By Oliver Bray, Senior Partner

What advertising disclosures does the ASA expect in advertising targeted at children?

ASA raps podcast for not being easily identifiable as an ad

Published on 10 Oct 2022. By Oliver Bray, Senior Partner

How careful do you need to be with advertising disclosures for podcasts which contain marketing communications?