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TTIP of the iceberg - EU/US trade negotiations
How will the Transatlantic Trade and Investment Partnership (TTIP) - currently being negotiated between the EU and the US - impact on the insurance market?
Read moreHMRC blunder prevents it from collecting tax
The Upper Tribunal ('UT') has recently held in Bristol & West plc v HMRC [2014] UKUT 73 (TCC) that closure notices that HMRC had mistakenly sent to a taxpayer were valid and could not therefore be amended.
Read moreThe Cost of Redress: Citizens Advice Bureau reveals £5 billion cost of CMCs
Last week we reported Lady Justice Arden's fears about the "development of a claims industry… that increases the cost of obtaining financial advice".
Read moreTop tips for corporates on conducting internal investigations
The ability to conduct and manage an internal investigation...
Read moreMisrepresentor remains in firing line following change of counterparty
In Cramaso LLP v Ogilvie-Grant, Earl of Seafield and others[i] the Supreme Court considered whether a party could be liable for a negligent pre-contractual misrepresentation in circumstances where the party to which the representation was originally made was not the ultimate contracting party.
Read moreCatch the pigeon - Jack Wills clips House of Fraser's wings in trade mark dispute
Well-known retail brand Jack Wills has successfully relied on its community trade mark of a pheasant (below and left) in infringement proceedings against House of Fraser's use of a pigeon logo (below and right).
Read moreTop tips - internal investigations
The ability to conduct and manage an internal investigation in a way which is proportionate to the issue which has arisen as well as timely and cost effective is a skill not to be under-estimated.
Read moreDefinitive Guideline published for sentencing corporates
To coincide with Deferred Prosecution Agreements (DPAs) going live earlier this week, the Sentencing Council recently published a Definitive Guideline on the appropriate penalties for corporates convicted of fraud, bribery and money laundering.
Read moreNo need to plead and no need for CMCs
Those celebrating the common sense decision of the Court of Appeal in Clark v In Focus will have an additional reason to smile when they read comments in the leading judgment of Lady Justice Arden on the purpose of FOS and the role of CMCs.
Read moreReflective loss – Court of Appeal decision mirrors the position in Gardner v Parker
In the case of Malhotra v Malhotra & Anor[1], the claimant, Mr Rakesh Malhotra, had given a cross-undertaking in damages in support of a without notice injunction, which was later discharged.
Read moreFirst-tier Tribunal confirms compromise agreement is binding on HMRC
The recent case of Southern Cross Employment Agency Ltd v HMRC [2014] UKFTT 088 (TC) considers HMRC's ability (or, in certain cases, their inability) to revoke a decision after a claim has been finalised and paid.
Read moreDeferred Prosecution Agreements (DPAs) go live
The Director of the Serious Fraud Office, David Green, regards DPA s as "a welcome addition to the prosecutor's tool kit" but nevertheless has confirmed that "Prosecution remains the preferred option for corporate criminality".
Read moreCommercial Court confirms principles relating to law governing arbitration agreements
The case of Habas Sinai v VSC Steel Company[1] reinforces the importance of providing for a governing law in contracts, particularly if the parties want an arbitration agreement to be governed by a different law from the law of the seat of the arbitration.
Read moreDeferred Prosecution Agreements (DPAs) go live today
The Director of the Serious Fraud Office, David Green, regards DPA s as "a welcome addition to the prosecutor's tool kit" but nevertheless has confirmed that "Prosecution remains the preferred option for corporate criminality".
Read moreBattle lines drawn as High Court supports FCA collective investment scheme finding
Further judicial guidance has been provided on unauthorised collective investment schemes ("CISs").
Read moreThe Principle of Fundamental Rule
God ordered the world with 10 commandments, the FSA thought it would take 11 Principles and, perhaps in a statement of its omnipotence, the PRA has taken on the challenge with just 9 "Fundamental Rules".
Read moreTaxpayer establishes clean break and wins residence case before Tax Tribunal
The First-tier Tribunal (Tax Chamber) ('FTT') have decided in James Glyn v HMRC [2013] UKFTT 645 (TC) that, although Mr Glyn had retained his London house and returned to it several times during the year under appeal, he had nevertheless ceased to be UK resident for tax purposes as he had sufficiently loosened his ties with the UK to show there had been a distinct break with the UK.
Read moreAnnuities – what next for providers and advisers?
The FCA has published its of Thematic Review of Annuities having conducted a substantive review of the annuity market.
Read more'Total' win for FAGE in Greek yoghurt appeal
The Court of Appeal has recently handed down judgment in one of only two recent cases concerning a claim for extended passing off.
Read moreWhen is a solicitor acting as a solicitor?
The High Court has recently given some guidance on whether, when operating its client account, a firm is acting in its capacity as a solicitor.
Read moreMitchell: No excuse for a 'common sense' blind spot
A recent decision by Mr Justice Stuart-Smith in the TCC in The Governor & Company of The Bank of Ireland -v- Philip Park Partnership illustrates that it is possible to push strict emphasis on CPR compliance too far.
Read moreRolex ruling-CJEU gives good news to EU rights holders
This article was first published on Lexis®PSL IP & IT on 13 February 2014 and is in a Q&A format with Kate Beaumont.
Read moreBasel III – insurance as a risk mitigant?
RPC's banking team recently attended the Loan Market Association's (LMA's) seminar on "Mitigating Risk – Insurance as a Risk Mitigant" which focussed on whether insurance could be used by banks for the purpose of securing capital relief under Basel III.
Read moreFOS in focus
The Court of Appeal confirmed this morning that a FOS complainant with an award at the statutory maximum of £150k cannot sue for the balance of their losses in Court.
Read moreFOS is the one and only
After what has felt like an interminably long wait, the Court of Appeal has today allowed the appeal in Clark v In Focus.
Read moreCJEU rules that linking and framing is not copyright infringement
The CJEU handed down an important decision this morning on online copyright infringement.
Read moreFTT listens to used car salesman and allows his claim for entrepreneur's relief
In a recent decision of the First-tier Tribunal (Tax Chamber) ('FTT') it was held that a significant change in business constituted a cessation of one business and the commencement of a second business, (Jeremy Rice v HMRC [2014] UKFTT 0133 (TC)).
Read moreSEC ups the ante on audits of Chinese companies listed in US
In its "Initial Decision" No. 553, a US Securities and Exchange Commission administrative law court recently concluded that the Chinese affiliates of five international accounting firms breached section 106 of the US Sarbanes-Oxley Act 2002 ...
Read moreCompetition and Markets Authority announces its 'Vision, values and strategy'
The Competition and Markets Authority ("CMA") is the new combined successor body to the Office of Fair Trading and the Competition Commission, created by the Enterprise and Regulatory Reform Act 2013.
Read moreOffshore Ombudsman: Financial Ombudsman Service for Jersey and Guernsey on its way
With the first glimmers of spring breaking through the clouds, the Ombudsman, like many of us, is packing his bowler and planning a trip off-shore.
Read moreTour Operators – Can you benefit from adapting your TOMS calculations?
After lengthy deliberation, HM Revenue & Customs (HMRC) has announced it is not going to change the way the Tour Operators Margin Scheme [TOMS] is operated in the UK.
Read moreCourt clarifies relationship between the CPR and the Companies Act when serving a director resident abroad
Following a recent judgment of the High Court, it has been held that an individual who is resident abroad, but who is a director of a UK company, can be served with documents, ...
Read moreNo loss of confidence – establishing causation in confidential information claims
Richmond Pharmacology Ltd v Chester Overseas Ltd, Milton Levine and Larry Levine [2014] EWHC 2692 (Ch)
Read moreConsumer credit reform – impact for insurers and brokers
From 1 April 2014, the FCA will take over responsibility from the OFT for the policing of the UK consumer credit industry.
Read moreState Street fine shows increasingly active FCA
On Friday 31 January 2013, the Financial Conduct Authority ("FCA") released its Final Notice in relation to an investigation of two of State Street's UK businesses.
Read moreBritish National Working Overseas Has No Right to Bring a Claim in the Employment Tribunals
For employers who engage staff to work overseas, determining whether the can bring a claim in the Employment Tribunals is becoming increasing difficult.
Read moreCollective Redundancy Consultation: Expiry of Fixed Term Contract Does Not Count Towards 20+ Headcount
University College v University of Stirling [2014] CSIH 5.
Read moreStandard Bank, a non-standard fine and sub-standard AML systems
The £7.6m fine recently meted out to Standard Bank was accompanied by a self-congratulatory press release by the regulator heralding new firsts.
Read moreFurther guidance from the Tribunal on closure notices: long stop dates
We recently blogged about the timing of closure notices: "Tribunal directs HMRC to issue Closure Notice".
Read moreGuard Your Reputation With Your Life
A rising trend of corporations who have suffered severe losses as a result of extreme and sometimes unjust adverse media has seen the emergence of a specialist insurance product in the Lloyd's market.
Read moreMoving with the times – welcome to RPC's Financial Services Blog
Regulatory change and client demand have prompted us to create a separate Corporate Insurance 'Hub' and re-brand our Regulatory Blog.
Read moreFreedom of information: access denied by ministerial veto
Not since September 2012 when the Attorney General exercised powers under section 53(2) of the Freedom of Information Act 2000 (FOIA) blocking the release of correspondence between Prince Charles and seven government departments has there been a matter likely to attract attention to the use of the ministerial veto.
Read moreSupreme Court rules that two wrongs can make a right (to rectify)
The Supreme Court has allowed an appeal to alter mirror wills, signed by the wrong testators, in order that the intended heir may inherit. In Marley v Rawlings and another[1], Lord Neuberger held that the wills should be rectified on the basis that a 'clerical error' had occurred.
Read more2014 – Another Year of Planning Reform
The past few years have seen a raft of changes to planning regime and 2014 seems set to continue with that trend. The matters below highlight some of the changes on the horizon.
Read moreSPLIT TRIALS – does proportionality rule supreme?
The case management of proceedings in the High Court is governed at all times by the overriding objective which is to enable the Court to deal with cases justly and at proportionate cost.
Read moreWelcome to the Corporate Insurance Hub
Here you'll find commentary on the latest developments in the Insurance industry, whether it's consolidation in the market, new legislation or landmark court decisions.
Read moreUpper Tribunal decides application for extension of time under Civil Procedural Rules
In the recent case of The Commissioners for Her Majesty's Revenue and Customs v McCarthy & Stone (Developments) Ltd and another[1] the Upper Tribunal (Tax and Chancery Chamber) ('UT') was asked to consider whether it should grant HMRC an extension of time to serve its notice of appeal.
Read moreNo way out
If there was ever any doubt about the determination of judges to follow the Court of Appeal's decision in Mitchell v NGN [2013] EWCA Civ 1537, cases since then have shown that they are at least taking heed of the warning delivered by the Master of the Rolls.
Read moreRICS UK Valuation Commission Report
Today sees the launch of the RICS UK Valuation Commission Report.
Read moreTribunal directs HMRC to issue Closure Notice
Mr Kenneth William Bloomfield v The Commissioners for Her Majesty's Revenue and Customs [2013] UKFTT 593 (TC)
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