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How to comply with the FCA's new diversity and inclusion targets for listed companies
The FCA has finalised its new rules on diversity and inclusion on listed company boards and executive committees. The rules, which are set out in the FCA's policy paper PS22/3: Diversity and inclusion on company boards and executive management, are substantially in line with the proposals set out in the FCA's consultation paper CP 21/24. In scope listed companies are required to include a statement in their annual financial report on whether they have met specific board diversity targets on a ‘comply or explain’ basis, as at a chosen reference date within their accounting period.
Read moreBalance on the board: Eight things UK PLCs need to know about the FCA's diversity targets
The Financial Conduct Authority's proposals will mean UK listed companies need to disclose whether their boards and senior management teams meet new gender and ethnic diversity targets.
Read moreTakeover Code: What has changed?
On 5 July 2021, the most significant changes to the Takeover Code (the Code) since 2011 took effect. The changes are intended to standardise the treatment of regulatory clearances and simplify the offer timetable. An overview of the main changes is set out below.
Read moreUK Listing Review wants companies to stay at home
Recommendations will make it easier to list and fundraise on the London Stock Exchange
Read moreTime for public companies to come clean: New UK climate-related disclosures and ESG guidance
Companies listed on the London Stock Exchange's Main Market will need to include a statement in their annual report confirming if they have made climate-related disclosures consistent with the recommendations of Task Force on Climate-related Financial Disclosures (TCFD). Companies planning to IPO, or move from AIM to the Main Market, are also affected by these new Listing Rules.
Read moreThe November 2023 AI safety summit and the UK's direction of travel
The government has confirmed that the UK AI safety summit will be held at Bletchley Park on 1 and 2 November 2023.
Read moreTelecoms supply agreement excludes "loss of profit" claim under "anticipated profits" liability exclusion (EE v Virgin Mobile)
In line with a number of recent cases, in EE Limited v Virgin Mobile Telecoms Limited [2023] EWHC 1989 (TCC) the courts have shown that parties generally cannot avoid clear wording contained in exclusion clauses in order to recover losses that have been expressly excluded (in this case, loss of profits).
Read moreRolls-Royce entitled to hit the brakes in dispute over termination of a software services agreement (Topalsson v Rolls-Royce)
In Topalsson GmbH v Rolls-Royce Motor Cars Limited [2023] EWHC 1765 (TCC), the High Court has provided useful guidance on how to determine whether a software implementation timeline agreed by the parties is binding, when implementation is considered complete and in what circumstances failing to complete implementation by the contractual deadlines entitles the customer to terminate the contract.
Read moreA narrow escape – software services provider entitled to rely on single aggregate liability cap (Drax v Wipro)
When it comes to bespoke software development projects, a lot can go wrong. There's risk for the customer such as project delays, software defects, functionality issues and a lack of meeting of minds in terms of project requirements.
Read moreChoppy waters ahead? The significance of Oceanfill
The economic outlook for the UK in 2023 remains uncertain, and more companies may need to restructure their businesses to ensure survival. This
Read moreBuilding on renewable energy #3 – Anaerobic Digestion
Anaerobic digestion is the process by which biodegradable materials are broken down in a controlled environment. Whilst being broken down, the materials emit gas (which can be used as a source of renewable energy), and produce heat (which can also be harnessed on or near-to site). The process also leaves a waste material (digestate), which can be used as fertiliser, contributing to the circular economy.
Read moreSnapshot on key 'green claims' developments
As consumers increasingly demand more sustainable products, businesses are innovating to reduce their environmental impact. This has driven an increase in the use of 'green' marketing claims and, with it, increased scrutiny by consumer regulators seeking to protect consumers from the risk of 'greenwashing'. Significant developments are ongoing in this area, both in the UK and the EU.
Read moreProtests on the rise – are you covered?
With public focus on political issues running high, the possibility of protests interrupting your business should be on every retailer and consumer brand's risk management agenda.
Read moreLifting the veil on cyber threats for retailers
Almost all UK businesses (approximately 98%) now operate online in some capacity, benefiting hugely from an increased use of online websites, social media accounts, and online banking
Read moreChanging retail landscape leads to decline in employee numbers
The retail sector continues to face change and challenge from every conceivable angle and employment within the sector is following this trend.
Read moreCode of Conduct for Leasing of Retail Premises to take effect from 1 February 2024
Following from the passing of the Lease Agreements for Retail Premises Bill which mandates compliance with the Code of Conduct for Leasing of Retail Premises in Singapore ("Code") for qualifying leases of retail premises earlier this year, the Lease Agreements for Retail Premises Act ("Act') is expected to take effect from 1 February 2024.
Read moreCould I mitigate my losses by using my premises for other purposes?
With the inevitable impact of the coronavirus on retail businesses, many will be looking to mitigate their losses. One obvious way of doing this would be to use their premises, often their single largest overhead, for other uses. But is this possible and what must you consider?
Read moreAI in Construction
There is a lot of discussion around Artificial Intelligence ("AI") and its application to industry. We have considered what AI is, the benefits and risks, how it fits into the construction industry, the effect on insurers and what the future holds.
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.
Read moreThe Week That Was - 8th 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 - 1 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 - 24 September 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 - 17 September 2021
Welcome to The Week That Was, a round-up of key events in the construction sector over the last seven days.
Read moreSanctions and next steps
Further to our previous articles detailing the stages of the Architect Registration Board's (ARB) disciplinary process up to the Hearing, this final article considers the sanctions the PCC can impose and briefly considers what steps can be taken if an unfavourable decision is reached.
Read moreThe Week That Was - 10 September 2021
Welcome to The Week That Was, a round-up of key events in the construction sector over the last seven days.
Read moreThe Building Safety Bill – time for property managers to prepare
The way high-rise buildings are managed in this country is changing.
Read moreThe Week That Was – 3 September 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 - 27 August 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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