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If you insist… a review of the FCA's position on insistent clients
On 8 June, the FCA published a fact sheet intended to provide a 'helpful reminder' of its position on 'insistent clients' (the full title being: Fact sheet 035. Pension reforms and insistent clients).
Read moreQueen's Speech – navigating the opportunities for GCs
In the first blog in this series of three I commented on the mass of ambiguous law that is coming towards us over the next five years of this parliamentary term.
Read moreTime limit for challenges to adjudication decisions clarified
Adjudication is intended to be a quick and cost-effective means of resolving a dispute. However, in its first decision concerning adjudication, handed down on 17 June 2015, the Supreme Court has reached a finding that means parties to adjudication may face a very long delay to reach a final determination of the dispute between them. The decision, in the case of Aspect Contracts (Asbestos) Limited v Higgins Construction plc, allows a respondent to adjudication to challenge the outcome any time up to six years after it makes payment to the successful referring party, thereby potentially rendering historic adjudication decisions vulnerable to further litigation.
Read moresPIFfing! New capital requirements for Personal Investment Firms
Can the PIF pay? Personal Investment Firms (PIFs) are advisory firms responsible for around half of all regulated investment and pension sales.
Read moreUpper Tribunal confirms the FTT's decision to strike out HMRC's evidence
In HMRC v Infinity Distribution Limited (in Administration)[1], the Upper Tribunal has dismissed HMRC's appeal against that part of the decision of the First-tier Tribunal ("FTT") striking out evidence which HMRC was seeking to introduce.
Read moreTaking the credit: FOS tackles broking and middlemen
The impact of FCA rules on credit brokers has been significant, with a number of credit brokers having left the market since April 2014.
Read moreUCIS in focus at FOS
FOS' latest edition of Ombudsman News contained some interesting insights into its approach to complaints concerning advice relating to UCIS investments.
Read moreThe Internet of Things
If you believe the hype, the “Internet of Things” (IoT) is about to take over the world.
Read moreClient update – Littlewoods
This note reports on the decision handed down yesterday by the Court of Appeal in Littlewoods Limited and Others v Commissioners for HMRC.
Read moreVAT update
Compound interest on overpaid VAT: HMRC seeking to appeal against Littlewoods
Read moreExcuses, excuses – Tribunal considers 'reasonable excuse' and allows taxpayer appeal
In Barking Brickwork Contractors Limited v HMRC[1], the First-tier Tribunal ("FTT") decided that a taxpayer had a reasonable excuse for late filing and set aside the penalties which had been charged by HMRC pursuant to Schedule 55, Finance Act 2009.
Read moreSanctioned offers and old-style Calderbank offers
Following the introduction of formal sanctioned payments and sanctioned offers pursuant to the civil justice reforms adopted in April 2009, it has not been entirely clear to what extent pre-trial Calderbank offers (without prejudice save as to costs) still provide costs protection for an offeror.
Read more(MxA)x(O/T)=E&S: a formula for successful in house lawyers
E=MC2 is one of the most famous equations in history. WikiHow helpfully explains that the formula describes how Mass can be turned into Energy, and vice versa.
Read moreHong Kong courts clarify personal data concerns in civil litigation
In a series of cases in Hong Kong in the last year or so, the courts have brought some welcome clarification to the vexed issue of the interaction between disclosure of relevant documents in civil disputes and balancing competing confidentiality and personal data concerns arising out of the contents of such documents.
Read moreUK goodwill still reigns Supreme
The question to the Supreme Court was whether a claimant in a passing off action needs to have actual customers in the UK or whether it is sufficient to demonstrate that it has a reputation in the UK and internationally.
Read moreLegal Leaders: knowing and identifying where you can make a strategic difference
Legal Leaders General Counsel Forum reviews the evolving role of the GC as more than just the Manager of a legal function.
Read moreUpper Tribunal prevents HMRC from reneging on a settlement agreement – Southern Cross Employment Limited
In our blog of 27 February 2014, we commented on the decision of the First-tier Tribunal ("FTT") in Southern Cross Employment Agency Limited v HMRC[1].
Read morePlay nicely, children
Litigation is, by its very nature, an adversarial process. But as the court has made clear in the case of Simon Gotch & Susan Linda Gotch v Enelco Limited1, litigants should also co-operate, to ensure the swift and cost-effective resolution of their disputes.
Read morePushing the (tonnage) limits
This update highlights two recent changes in tonnage limits – one international, the other in Hong Kong.
Read moreForfeiture ... that's a relief
A landlord's right to forfeit for breach of covenant by the tenant is a useful remedy commonly found in leases.
Read moreOut with the new, in with the old?
'The best moments in reading are when you come across something – a thought, a feeling, a way of looking at things – that you'd thought special, particular to you. And here it is, set down by someone else, a person you've never met, maybe even someone long dead. And it's as if a hand has come out, and taken yours.' Alan Bennett, The History Boys
Read moreThe Queen's Speech – what does it mean for GCs?
“So how is the Queen’s Speech going to affect my one, three and five year business plans?” your CEO asks you, the GC, next time you meet.
Read moreMisselling liabilities under portfolio transfers
In 2006, a transferor and transferee entered into a portfolio transfer under Part VII of FSMA in respect of all of the transferor's general insurance business.
Read moreInvalidity of buyer's notice sinks warranty claim
In Ipsos SA v Dentos Aegis Network Limited, the Defendants obtained judgment in the High Court against the Claimants in respect of their claim for breach of warranty for failure to comply with contractual notification requirements set out in a share purchase agreement.
Read moreVirtual roundtable with Corporate Livewire: Sport Law 2015
In our Sports Law Roundtable we spoke with four experts from around the world to discuss recent regulatory changes and interesting developments across their field of work.
Read moreA sting in the tail: ACAS Early Conciliation requirements take their toll on unwary Claimants
The ACAS Early Conciliation Scheme came into force in April 2014 and has been lauded for its part in the significant reduction in Employment Tribunal claims in the last year.
Read moreTribunal confirms tax relief for expenditure incurred on R&D
In Pyreos Ltd v HMRC[1], the taxpayer has successfully appealed HMRC's decision to disallow tax relief for expenditure incurred on research and development ("R&D").
Read moreOne-stop adjudication – the rational approach to dispute resolution
The Commercial Court has found[1] that an arbitration clause in a consultancy services agreement was superseded by a dispute resolution clause in a later settlement agreement;...
Read moreMGN appeals against hacking awards in Gulati case
MGN today sought permission to appeal against the very large awards of damages made by Mr Justice Mann in the eight test claims in the hacking litigation arising out of voicemail interception at Mirror Group Newspapers.
Read morePrivate Equity Acquisitions - Asset Stripping Rules
It is almost a year since the Alternative Investment Fund Managers Directive (AIFMD) became fully effective in the UK.
Read moreTax update
Types of financial insitutitons and automatic exchange of information
Read moreGetting to Level 2
What insurers should look out for in BIM project management
Read moreDefendants receive custodial sentences for contempt of court in VAT case
In the recent case of HMRC v Munir & Others[1], HMRC successfully applied to the Court for committal of three company officers for contempt of court where an order appointing a provisional liquidator was knowingly breached.
Read moreTwo jurisdictions for the price of one? The English Court of Appeal provides guidance on conflicting jurisdiction clauses in related contracts
In Trust Risk Group SpA v AmTrust Europe Limited[1] the Court of Appeal has rowed back from the presumption that parties who have agreed differing jurisdiction arrangements for their disputes intended their disputes to be governed by one regime.
Read moreGetting to Level 2
What insurers should look out for in BIM project management
Read moreFlood Re: the impact of the scheme on surveyors and valuers
The catastrophic impact that flooding can have on property owners has been seen all over the news for the past decade. In particular, 2012 saw some of the wettest weather for a century and left thousands of households struggling to find insurance cover for their properties.
Read moreFlood Re and the impact on surveyors and valuers
The catastrophic impact that flooding can have on property owners has been seen all over the news for the past decade. In particular, 2012 saw some of the wettest weather for a century and left thousands of households struggling to find insurance cover for their properties.
Read moreCan concessions heal the high street?
Typically, concessions are used by retailers to incorporate third party brands into their retail space and broaden the range of products on offer to their target consumers.
Read moreGood news from Geneva for Geographical Indications
A Diplomatic Conference held in Geneva in May 2015 has resulted in a new act being adopted which will revise the Lisbon System and provide additional protection and an international registration system for Geographical Indications.
Read moreRPC responds to PRA's consultation paper concerning powers over auditors and actuaries
In a recent blog we noted that the PRA had outlined in a consultation paper its plans to introduce two significant changes for auditors and actuaries.
Read moreClaims handling review could lead to past business reviews
The FCA's report on its thematic review into claims handling in the SME market highlights shortcomings but with reassuringly little sabre rattling.
Read moreLetting Go Of The Wheel
If you are someone who finds yourself regularly gripping the car steering wheel in frustration or mouthing obscenities at your fellow road users in a frenzied rage, then you may have welcomed the recent launch of the UK trials for driverless cars.
Read moreTribunal concludes that HMRC's information request was too vague and ambiguous
There were two matters before the First-tier Tribunal (Tax Chamber) ("FTT") in Couldwell Concrete Flooring Limited v HMRC[1].
Read moreIs credible deterrence really working? And other questions arising from a mixed week for the FCA
Even though the FCA was able to trumpet that it had imposed its highest ever fine and that it had been successful in two decisions handed down by the Upper Tribunal, things have not gone entirely the regulator's way in the past week or so.
Read moreBeyond night and day: The importance of causation
In order to succeed in a claim for professional negligence, a claimant must establish that the professional owed him a relevant duty of care, that they breached that duty and that the breach caused the loss he seeks to recover.
Read moreMeaning of information of a precise nature in market abuse clarified by ECJ
Following a recent ECJ decision, the definition of 'inside information' for the purposes of the EU's market abuse regime has been widened.
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