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FOS complaints and hindsight – categorical statement from the Chief Ombudsman
The FCA has been producing a range of temporary measures with the aim of ensuring that firms can work at pace during the pandemic for the benefit of customers. However, where procedures are bypassed or corners cut what will FOS do in response? The response from FOS to that questions raises another – the use of hindsight when coming to its decisions.
Read moreFurther welcome news from the FCA – this time on co-manufacturing
Following on from our earlier blog, our review of the FCA's 'Discussion Paper' (DP24/1) continues, this time considering the rules relating to co-manufacturers of insurance products.
Read morePotential deregulation and a pragmatic approach to commercial insurance – welcome news from the FCA
The FCA has published a 'Discussion Paper' (DP24/1) seeking feedback on its rules on commercial insurance including in respect of the types of commercial customers in-scope, co-manufacturing of products and bespoke insurance products.
Read moreNew Labour government – what is in store for the UK?
We have a new Labour Party government for the first time in 14 years. The new government has already made various announcements, with more set to follow in the coming days, and then we have the King’s Speech on 17 July, when the Labour Party will set out its opening legislative agenda – but what can we expect from the new government impacting services regulated by the Financial Conduct Authority, pensions and accountants?
Read moreAdams v Carey – where does the Court of Appeal's decision leave the SIPP market?
The Court of Appeal has today dismissed Mr Adams' appeal against Carey in respect of COBS 2.1.1R. However, the appeal in relation to s.27 FSMA has been upheld. We discuss the background to the proceedings, the Court of Appeal decision and where it takes the SIPP (and wider financial services) market.
Read moreEmployer lessons from teacher's menopause bias win
On May 31, a Scottish employment tribunal made its decision in Allison Shearer v. South Lanarkshire Council and awarded a teacher over £60,000 ($77,829) for disability discrimination and unfair dismissal, following her dismissal for ill health after a period of long¬term sickness absence.
Read moreMenopause discrimination: Where are we now?
October heralded an important legal first when a Leicester employment tribunal began hearing the case of Rooney v Leicester City Council. It is the first case where a person's menopausal symptoms have been deemed by an appeal court to potentially amount to a disability for the purposes of the Equality Act 2010.
Read moreAdjusting your recruitment process for a candidate with a disability: What is reasonable?
The Employment Appeal Tribunal (EAT) has held that a failure to make enquiries into a job applicant's disability amounted to a failure to make reasonable adjustments.
Read moreRecent judgment on ad hoc admission of overseas counsel tells of wider COVID-19 story
Applications for ad hoc admission, pursuant to section 27(4) of the Ordinance, are fact dependent and the relevant legal principles are well-established.
Read moreLead market regulator's lawsuit includes professional advisers
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)
Read moreThe summer of discontent?
What comes to mind when you hear the word "summer"? The unbridled joy of no more school for 6 whole weeks? Buckets, spades and wind-swept beaches? Perhaps the call of a sun-soaked tropical island? For most, summer means taking some time out to recharge and switch off.
Read moreWhistle-blowing on illegal cartels drops 70% in 5 years
Competition and Markets Authority (CMA) recently increased award to £250,000 Calls to the CMA hotline have plummeted from 1,442 in 2017 to 427 in 2022
Read moreCAT Collective Proceedings - Summer 2024 update
Developments in the UK’s competition collective proceedings regime continue apace with new claims recently issued in the Competition Appeal Tribunal (CAT).
Read moreThe CAT's new approach: I can't afford a carriage (dispute)
Since the collective proceedings regime in the UK's Competition Appeal Tribunal (CAT) kicked off, a number of carriage disputes have arisen. So-called 'carriage disputes' arise when there are two or more competing proposed class representatives (PCRs) seeking certification (and therefore 'carriage') of overlapping class actions.
Read moreHow should Financial Institutions manage the rise of non-financial misconduct?
Over the last few months, Parliament's Treasury Committee has sought to examine the many barriers faced by women in financial services through the aptly named "Sexism in the City" inquiry.
Read moreQuid game – fixed costs; pick your battles
Ordinarily, the claims that make the headlines are those that have the highest value or the most significant impact on the public. With the costs landscape ever-changing in civil claims, without careful planning and strategy, even modest claims can end up biting defendants in the longer-term.
Read moreCastle caper condoned? Court of Appeal rules on dishonest condonation and aggregation under solicitors policy in Discovery Land v AXIS
On 15 January 2024 the Court of Appeal handed down judgment in Discovery Land Company LLC and others v Axis Specialty Europe SE [2024] EWCA Civ 7. The case concerns the ability of a solicitors’ insurer to decline cover for a claim on grounds of dishonesty and, in particular, the meaning of “condonation” of dishonesty. It also concerns how the aggregation clause operates in a solicitors’ professional indemnity insurance policy.
Read moreLaw passed to regulate Significant Investments in Singapore Entities
The Significant Investments Review Bill (the "Bill") was recently passed by Parliament on 9 January 2024, and is expected to take effect in the first half of the year.
Read moreThe Terminator: A Tale of Two Insurance Claims
It is 2029, and the Machines are losing their war with Humanity. What to do?
Read moreProject Angel Bidco v AXIS - what are the key takeaways for warranty and indemnity insurers?
On 31 October 2023, the London Circuit Commercial Court gave judgment in Project Angel Bidco Limited (in administration) v Axis Managing Agency Limited & Ors (2023) EWHC 2649.
Read moreWordings do matter
Contract drafting has been brass tacks for lawyers since the dawn of time. In its broadest terms, it involves putting the scope of a bargain reached between parties into clear and effective language.
Read moreStorm Babet, flooding and the insurance implications
Subtropical cyclone Storm Babet is currently responsible for over 350 flood warnings in the UK, with more flood warnings expected later this week.
Read moreGetting to know Global Access Lawyers
Global Access Lawyers brings together some of the worlds leading insurance law practices. In the following pages get to know the different law firms that make up Global Access, who we are, where we operate and the kind of work we do. We hope you find this useful to understand the international reach of Global Access.
Read moreCourt of Appeal finds in favour of FSCS on scope of the Policyholder Protection Rules (PRR)
Tamsin Hyland explores the recent judgment of JR (On the application of Manchikalapati v FSCS [2023] EWCA Civ 1006) and its relevance to insurance policy wording.
Read moreWhat does the FRC's proposed corporate governance overhaul mean for D&O exposures?
The Financial Reporting Council (FRC) has now published the draft new UK Corporate Governance Code following the Government's requirements that it incorporate more robust internal control and prudent and effective risk management requirements. The deadline for responses to the FRC's consultation is 13 September 2023.
Read moreConsumer duty and claims handling – beware of sludge practices
The Consumer Duty is a new regulatory framework developed by the Financial Conduct Authority (FCA) aimed at creating a higher standard of consumer protection in the retail markets. The FCA expects the Consumer Duty to be a significant shift for the market in terms of its expectations on firms and in this blog we consider this shift in the context of insurance claims handling.
Read moreBossing the rules
Watch out for RPC's new blog mini-series on the SRA Standards and Regulations 2019.
Read moreFCA issues Final Report in the Wholesale Insurance Broker Market Study
Today, the FCA released its Final Report in its Wholesale Insurance Broker Market Study. The study, which was launched in 2017, considered competition, transparency and conflicts concerns arising from changes in the market, including an increased use of broker facilities.
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 moreThe future of SIPPs – FCA responds to the Work and Pensions Committee
A couple of weeks ago we reported on 5 pointed questions raised by the Work and Pensions Committee of the FCA in relation to the SIPP market. Those questions included whether or not the FCA was considering banning non-standard investments in SIPPs. The FCA has now responded. The response includes the FCA's views on the due diligence it expects of SIPP providers when it comes to non-standard investments.
Read morePRA consultation to promote diversity on boards of large insurers
The PRA consults on further amendments to the Senior Insurance Managers Regime (SIMR) including promoting diversity on boards.
Read moreThe Work Couch: Bonus Live episode: Exploring the cost of untapped talent, with Tskenya-Sarah Frazer, Trevor Sterling and Mark Ash
Welcome to The Work Couch, the podcast where we discuss all things employment.
Read moreSupporting and retaining Gen Z talent (Part 2): Work-life balance, communication and wellbeing, with Rose Sellman-Leava and Laura Verrecchia
Welcome to The Work Couch, the podcast series where we explore how your business can navigate today's tricky people challenges and respond to key developments in the ever-evolving world of employment law.
Read moreThe Work Couch: Supporting and retaining Gen Z talent (Part 1): Myths and opportunities, with Rose Sellman-Leava and Laura Verrecchia
Welcome to The Work Couch, the podcast series where we explore how your business can navigate today's tricky people challenges and respond to key developments in the ever-evolving world of employment law.
Read moreThe Work Couch: AI (Part 3): The role of emotional intelligence and AI's impact on wellbeing, with Jake Wall and Patrick Brodie
Welcome to The Work Couch, the podcast series where we explore how your business can navigate today's tricky people challenges and respond to key developments in the ever-evolving world of employment law.
Read moreThe Work Couch: AI (Part 2): Privacy, bias, and discrimination
Welcome to The Work Couch, the podcast series where we explore how your business can navigate today's tricky people challenges and respond to key developments in the ever-evolving world of employment law.
Read moreAI (Part 1): Impact on litigation, responsible use and the regulatory landscape
Welcome to The Work Couch, the podcast series where we explore how your business can navigate today's tricky people challenges and respond to key developments in the ever-evolving world of employment law.
Read moreThe Work Couch: Mental health at work (Part 4): Mental health first aid, with Simon Blake OBE
We are marking Mental health awareness week this month by devoting a four-part mini-series to mental health at work. In our concluding episode this week, Ellie is joined by Simon Blake OBE, Chief Executive at Mental Health First Aid England to explain the role of mental health first aid in the workplace.
Read moreThe Work Couch: Mental health at work (Part 3): Protecting your employees' digital wellbeing, with Alice Hendy MBE
We are marking Mental health awareness week this month by devoting a four-part mini-series to mental health at work. This week, in part 3, Ellie is joined by Alice Hendy MBE, CEO and founder of charity R;pple Suicide Prevention to explain how employers can protect their employees' digital wellbeing.
Read moreThe Work Couch: Mental health at work (Part 2): Implementing effective mental wellbeing measures, with Neil Laybourn
To mark Mental health awareness week this month, we are devoting a four-part mini-series to mental health at work. In part 2, Ellie is joined by the other key person from the incredible "Stranger on the bridge" story, Neil Laybourn, who on that fateful day in January 2008, stopped to talk to Jonny Benjamin, who was about to take his own life on Waterloo Bridge.
Read moreThe Work Couch: Mental health at work (Part 1): Turning despair into hope, with Jonny Benjamin MBE
Welcome to The Work Couch, the podcast series where we explore how your business can navigate today's tricky people challenges and respond to key developments in the ever-evolving world of employment law.
Read moreGovernment "crackdown" on "gagging clauses" is not new, but an important reminder
The use of confidentiality clauses and non-disclosure agreements (NDAs) by employers, whether as standalone agreements, or forming terms within employment contracts, settlement agreements, or COT3 agreements, has been subject to considerable scrutiny in the UK in recent years - despite existing professional obligations on UK regulated lawyers not to advance all-encompassing, unlimited NDAs.
Read moreThe Work Couch: Whistleblowing (Part 3): 5 key challenges for employers in 2024
Welcome to The Work Couch, the podcast series where we explore how your business can navigate today's tricky people challenges and respond to key developments in the ever-evolving world of employment law.
Read moreThe Work Couch - Addiction at work: Disciplinary or wellbeing issue?
Welcome to The Work Couch, the podcast series where we explore how your business can navigate today's tricky people challenges and respond to key developments in the ever-evolving world of employment law.
Read moreWhistleblowing (Part 2): How to approach whistleblowing complaints
In part 2 of our mini-series on whistleblowing, Ellie Gelder is joined by Sybille Raphael, legal director at whistleblowing charity Protect, to explain how employers can approach whistleblowing complaints proactively and effectively.
Read moreNavigating the impact of AI on work: challenges, opportunities, and the human touch
The fear of job losses because of technology and automation, including artificial intelligence, has been with us since the 1960s. For some time, academics have predicted the decline of routine, rules-based and process-driven roles.
Read moreThe Work Couch: Exploring the cost of untapped talent: Social mobility
Welcome to The Work Couch, the podcast series where we explore how your business can navigate today's tricky people challenges and respond to key developments in the ever-evolving world of employment law.
Read moreThe Work Couch: Social washing: Avoiding the pitfalls
Welcome to The Work Couch, the podcast series where we explore how your business can navigate today's tricky people challenges and respond to key developments in the ever-evolving world of employment law.
Read moreWhistleblowing (Part 1): A whistlestop tour of the law
Welcome to The Work Couch, the podcast series where we explore how your business can navigate today's tricky people challenges and respond to key developments in the ever-evolving world of employment law.
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