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Professional & Financial Risks

Publication

Favourable approach for insurers to the construction of exclusion clauses

31 October 2017

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In a recent decision the Commercial Court has followed the Supreme Court in the Impact Funding case. It declined to apply the contra proferentem rule to an exclusion clause in an insurance policy. Insurers will welcome the decision.

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Blog

Are there dark clouds on the horizon for SIPP providers?

Published on 17 October 2017. By David Allinson, Senior Associate

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According to Citywire, the FCA is poised to complete further supervisory work on the SIPP industry with a specific focus on non-standard investments. We understand that the FCA has questioned SIPP providers on the number of high risk investments they hold following a spate of complaints about such products in recent years.

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Blog

Over the Insured's Dead Body

Published on 13 September 2017. By Tom Toulson, Associate

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One year on from the entry into force of the Third Parties (Rights Against Insurers) Act 2010 and the fun and games are just getting started.

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Blog

A level playing Field?

Published on 31 August 2017. By David Allinson, Senior Associate

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Frank Field's Work and Pensions Select Committee is intending to review the impartiality of defined benefit pension transfer advice. What could this mean for the advisory industry and its PI insurers?

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Blog

FCA's review into non-advised retirement product sales

Published on 21 July 2017. By Rachael Healey, Legal Director

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The FCA has published its retirement outcomes review interim report. The report forms part of the FCA's assessment of the impact of the pension freedoms on the pension market and consumer behaviour. Although the focus of the report is non-advised sales it provides a useful insight for all those involved in the pensions market in relation to (1) customer behaviour post the introduction of the pension freedoms and (2) how the pension market is responding to those reforms. The report also puts forward some proposed "remedies" in relation to areas where the FCA considers behaviour may be detrimentally impacting customers. The remedies include permitting customers to access part of their pension at an earlier date in what appears to be an attempt by the FCA to steer customers away from drawdown products.

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Blog

A Simple Twist of ATE

Published on 25 May 2017. By Philip McCormack, Associate

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This blog considers the pitfalls of over-reliance on ATE cover and suggested solutions.

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Publication

Conveyancing liability

Published on 12 May 2017. By Paul Castellani, Partner

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The perils of reports on title: Orientfield Holdings Limited v Bird & Bird

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Blog

Corporate crime – the new offence of failure to prevent tax evasion

Published on 11 May 2017. By Cristina Faro, Associate

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At the end of April, the Criminal Finances Act 2017 was passed, bringing to life a new raft of measures aimed at increasing state powers to tackle financial crime. The rules are set to come into force in September 2017 and include new powers to obtain information, share knowledge and recover criminal property. Of most relevance to the professional community is the new power to prosecute corporate bodies whose agents or employees fail to prevent the facilitation of tax evasion carried out by another person, including customers and suppliers.

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Blog

A case of unintended consequences

Published on 12 April 2017. By Victoria Sugden, Senior Associate and Tim Bull, Partner

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Supreme Court Judgment of Lowick Rose LLP (formerly known as Hurst Morrison Thomson LLP) (in liquidation) v Swynson Ltd and another [2017] UKSC 32

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Blog

Complaints against insolvency practitioners hold steady

Published on 11 April 2017. By Rachael Healey, Legal Director

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The insolvency service has published the latest figures for complaints against insolvency practitioners made to the Complaints Gateway during 2016. The statistics indicate that the Gateway has received a reasonably steady level of complaints since it was established in 2013 but promisingly for practitioners the Gateway does appear to be weeding out more complaints with the Gateway having rejected 29% of complaints in 2016, compared to 18% in the Gateway's first year.

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