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Actuarial monitoring scheme announced

Published on 16 October 2019. By Ashley Daniells, Associate and George Smith, Senior Associate

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The Institute and Faculty of Actuaries (IFoA) has launched a new monitoring scheme, designed to improve the effectiveness of actuarial regulation, as well as make wide-spread improvements across the profession. The Actuarial Monitoring Scheme was created following a consultation by the IFoA.

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Leeds Cricket Football & Athletic Co Ltd – business with attached goodwill disposed of

Published on 16 October 2019. By Constantine Christofi, Associate

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In The Leeds Cricket Football & Athletic Company Ltd v HMRC [2019] UKFTT 0568 (TC), the First-tier Tribunal (FTT) has held that the freehold in a cricket ground involved the disposal of a business with attached goodwill and was not simply a disposal of land with attached income streams.

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Avatar Alert! ASA uses child avatars to tackle irresponsible ads targeted at children

Published on 15 October 2019. By Oliver Bray, Partner and Victoria Noto, Associate

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The ASA is proactively using avatars (which mimic child-like behaviour) to identify when age-restricted ads (gambling, alcohol, HFSS etc) are being irresponsibly targeted at children. The introduction of this new technology has already had an impact on ad monitoring and enforcement.

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Equine law - not just horsing around

Published on 14 October 2019. By Flavia Croce Michon Pecori, Trainee

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Equine law as a practice area has become increasingly prominent, with a growing number of legal issues requiring firms to skill-up; but is there a clear definition of what 'equine law' is?

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Corporate governance for large private companies

Published on 14 October 2019. By Nneka Ezekude, Paralegal

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For financial years beginning on or after 1 January 2019, large private companies will need to adhere to the requirements contained in a new corporate governance code published by the Financial Reporting Council. The introduction of the new code followed multiple scandals which revealed poor corporate practices and neglect of stakeholders' interests. As a result, the code seeks to rebuild confidence and trust in these large private companies.

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Tortious claims against third party may trigger anti-suit injunction

Published on 10 October 2019. By Chris Ross, Partner and Kirtan Prasad, Associate

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A party's attempt to circumvent a jurisdiction clause by bringing tortious claims against a third party has been thwarted by the High Court. In granting an anti-suit injunction, the court explored the substance of the claims and found them to be "vexatious and oppressive", designed simply to evade the exclusive jurisdiction clause.

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Regulatory update - October 2019

Published on 10 October 2019. By Gavin Reese, Partner

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Welcome to the October edition of our monthly Regulatory update, which aims to pull together key developments from across the various UK regulators – and help you to navigate the regulatory maze.

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JJ Management: No need to stand on formalities

Published on 09 October 2019. By Adam Craggs, Partner and Constantine Christofi, Associate

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It would appear from the decision of the High Court in R (oao JJ Management LLP and Ors) v HMRC [2019] EWHC 2006 (Admin), that HMRC can conduct informal enquiries outside of section 9A, Taxes Management 1970 (TMA).

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Tax update October 2019

Published on 03 October 2019. By Adam Craggs, Partner and Constantine Christofi, Associate

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In this month’s update we report on (1) the independent review of the disguised remuneration loan charge; (2) HMRC’s guidance on preparing for the off-payroll working changes which come into effect from April 2020; and (3) HMRC’s updated guidance on the tax registration of non-resident companies. We also comment on three recent cases relating to (1) an application for final and partial closure notices; (2) the validity of an enquiry; and (3) pre-entry loss rules.

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Rialas – Transfer of assets abroad provisions did not apply

Published on 02 October 2019. By Constantine Christofi, Associate

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In Rialas v HMRC [2019] UKFTT 520, the First-tier Tribunal (FTT) has found that the transfer of assets abroad (TOAA) provisions, originally contained in section 739 et seq, Income and Corporation Taxes Act 1988 (ICTA) did not apply.

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Health and safety update September 2019

Published on 01 October 2019. By Nick McMahon, Head of Health and Safety and Gavin Reese, Partner and Mamata Dutta, Legal Director and Chloe Scott, Trainee Solicitor

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Welcome to our September 2019 health and safety update where we look at the health and safety stories that have recently hit the headlines as well as the latest fines and sentences that have been handed down.

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Subjective expectation versus objective intention; when will a term be implied into a contract?

Published on 30 September 2019. By Alan Williams, Partner and Harriet Evans, Associate

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The High Court has implied a term into a contract for the sale of Peruvian Government Global Depository Notes (GDNs) by Lehman Brothers International (Europe), in order to make the contract workable.

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Corporate tax update September 2019

Published on 30 September 2019. By Ben Roberts, Senior Associate and Adam Craggs, Partner and Robert Waterson, Partner

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This month’s update reports on the key developments from August 2019. Although this was a relatively quiet month in the corporate tax world, this update includes summaries of an important Upper Tribunal decision on the correct tax treatment of “trail commissions” and a First-tier Tribunal decision on the recovery of pre-incorporation input VAT.

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Draft Finance Bill 2019/20: HMRC’s new insolvency powers

Published on 27 September 2019. By Robert Waterson, Partner and Constantine Christofi, Associate

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Piercing the corporate veil? Robert Waterson and Constantine Christofi review the draft provisions that will empower HMRC to issue joint liability notices. (This article was originally posted on Tax Journal)

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VAT update September 2019

Published on 26 September 2019. By Adam Craggs, Partner and Nicole Kostic, Senior Associate

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In this month’s update we report on (1) changes to the reduced rate for energy-saving materials; (2) the VAT rule changes for higher education; and (3) new regulations amending the rules on when VAT adjustments may be made following a change to the price of goods and services. We also comment on three recent cases relating to (1) the refusal of a claim for the repayment of under-recovered input VAT; (2) the repayment of input VAT charged on the acquisition of single farm payment entitlement units; and (3) a notice of security issued with no explanation for the demand.

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Quentin Skinner – shares sold by trust eligible for entrepreneurs' relief

Published on 25 September 2019. By Michelle Sloane, Senior Associate

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In The Quentin Skinner 2008 Settlement L and others v HMRC [2019] UKFTT 516 (TC), the First-tier Tribunal (FTT) has held that for a trust to qualify for entrepreneurs' relief (ER) on a disposal of shares, it was not necessary for the trust's beneficiary to have had an interest in possession in the shares for the period prescribed in section 169J(4), Taxation of Chargeable Gains Act 1992 (TCGA).

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Copyright in designs: G-Stars in their Eyes

Published on 23 September 2019. By Paul Joseph, Partner and Alessandro Cerri, Associate

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The CJEU has ruled on the requirements for copyright to vest in designs and applied art.

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Visa? Credit card? No - buy now pay later please!

Published on 20 September 2019. By Jeremy Drew, Partner and Joseph Akwaboa, Trainee Solicitor

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As online customers make their way to checkout, a growing number of retail brands are offering them the "Buy Now and Pay Later (BNPL)" option along with the classic, Visa and Credit Card and PayPal payment options.

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Contentious tax: quarterly review (Q3 2019)

Published on 20 September 2019. By Adam Craggs, Partner and Michelle Sloane, Senior Associate

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In this quarterly review, Adam Craggs and Michelle Sloane consider HMRC’s increasing propensity to seek the production of documents from accountants and other professional advisers, HMRC’s new policy of challenging taxpayers’ loan relationships, and the increase in the number of domicile enquiries launched by HMRC.

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Tinkler - Notice of enquiry invalid

Published on 19 September 2019. By Constantine Christofi, Associate

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In Tinkler v HMRC [2019] EWCA Civ 1392, the Court of Appeal has allowed the taxpayer's appeal and held that HMRC's notice of enquiry under section 9A, Taxes Management Act 1970 (TMA), was invalid.

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Court orders mediation

Published on 19 September 2019. By Geraldine Elliott, Partner and Matthew Evans, Senior Associate

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The High Court has upheld a tiered dispute resolution clause in accordance with established principles of contractual interpretation. The court ordered a stay of proceedings for mediation, and in support of the mediation also ordered pleadings to be served in advance in order to optimise the prospects of a settlement.

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Publication

Arbitration or winding up?

Published on 17 September 2019. By Charles Allen, Partner

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In But Ka Chon v Interactive Brokers LLC [2019] HKCA 873, the Hong Kong Court of Appeal upheld a lower court's decision to reject an application to set aside a statutory demand. The appellant had argued (among other things) that an arbitration clause in his agreement with the respondent required their dispute to be referred to arbitration.

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Football, the beautiful investment game?

Published on 17 September 2019. By Alex Farrow, Associate and Courtney Bryan-Isaacs,

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Another football season is upon us and we dream of silverware to be won. However, planning for the next transfer window begins almost immediately for those clubs listed on a stock market. There are opportunities to increase their share price through new signings, managers and sponsorship deals.

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Emerging Risks: Equity release products increasing, despite concerns over lack of understanding

Published on 12 September 2019. By Ashley Daniells, Associate

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Equity release products are becoming an increasingly popular option to home owners looking to release cash, especially with the over 65 population. However despite the increase in use and the encouragement of these products from the Equity Release Council, advisers need to tread with caution to ensure customers are aware of the potential pitfalls.

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Mergers and Aquisitions update August 2019

Published on 12 September 2019. By Nigel Collins, Partner, Head of Japan Desk

当法律事務所の紛争解決部門の同僚が、最近のある判例につい-C興味深い考察を記し-Cいる https://www.rpc.co.uk/perspectives/commercial-disputes/clarity-clarity-clarity-more-contract-drafting-lessons-from-the-court/。これを読むと、不要になった契約を打ち切る方法を常に考え-Cおくことの重要性があらため-C分かる。

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High Court waits for no lawyer

Published on 11 September 2019. By Davina Given, Partner and Karina Plain, Associate (Australian qualified)

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An appeal was recently lost after an application for an oral hearing was made just two days late. Evans v Pinsent Mason LLP [2019] EWHC 2150 (QB) This decision is a timely reminder of the strictness of court deadlines and of the importance of being upfront with the court (and your opponent) which, on this occasion, was unwilling to forgive ambiguity as to whether the deadline had been met.

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Smart & Son - Supreme Court confirms VAT incurred on funds raised for business purpose was recoverable

Published on 06 September 2019. By Nicole Kostic, Senior Associate

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In HMRC v Frank A Smart & Son [2019] UKSC 39, the Supreme Court has held that a farming company was entitled to repayment of input VAT charged on its acquisition of single farm payment entitlement units which were related to its overall economic activities and future taxable supplies.

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Hong Kong insurance regulation update - Regulator Codes of Conduct for Brokers and Agents

Published on 06 September 2019. By Andrew Carpenter, Of Counsel

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With effect from 23 September 2019, the independent Hong Kong Insurance Authority (the IA) will take over regulation of insurance intermediaries from the three existing self-regulatory organisations (the Hong Kong Confederation of Insurance Brokers, the Professional Insurance Brokers Association, and Insurance Agents Registration Board) and administer a new statutory licensing regime.

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Natasha's law - legislation requiring ingredients labelling on all pre-packaged foods presented in Parliament

Published on 06 September 2019. By Alyson Lloyd, Senior Associate and Ciara Cullen, Partner

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On Thursday 5th September, 'Natasha's Law' was presented in Parliament. This is new legislation which mandates full ingredients labelling on all pre-packaged food.

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Spotlight on private wealth - September 2019

05 September 2019

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Our quarterly update is designed to keep you up to speed with developments in disputes, and how you can avoid them, in the private client world.

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Tax update - September 2019

05 September 2019

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In this month’s update we report on (1) HMRC’s consultation on draft regulations implementing the requirement to disclose certain cross-border arrangements; (2) the Financial Secretary to the Treasury’s statement to Parliament on HMRC powers; and (3) the government’s response to the Joint Committee’s recommendations on the Draft Registration of Overseas Entities Bill.

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Using was/now price reductions

Published on 03 September 2019. By Oliver Bray, Partner and Nandeep Judge, Paralegal

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A recent ASA decision against Zestify Media has confirmed that a “WAS” price must represent a genuine saving when compared with a “NOW” price. This means checking that sales were actually made at the higher price during the relevant period and ensuring you don't advertise the lower price for materially longer than the higher price.

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Levy – Tribunal rejects application for final and partial closure notices

Published on 30 August 2019. By Constantine Christofi, Associate

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In The Executors of Mrs R W Levy v HMRC [2019] UKFTT 418 (TC), the First-tier Tribunal (FTT), has held that HMRC was not in a position to issue either a final or partial closure notice.

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Enter the avatar - is this medicine's new "reality"?

Published on 29 August 2019. By Florence Page, Senior Associate

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A brief look at the use of virtual and augmented reality technology in medical treatment, and some of the legal issues that could arise

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Notice givers take care – ignore the contract at your peril

Published on 29 August 2019. By Geraldine Elliott, Partner and Tim Potts, Associate

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The Court of Appeal has confirmed in Stobart Group Ltd & Anor v William Stobart & Anor [1] that an objective test will be applied when assessing whether a unilateral contractual notice has been validly given. This decision also provides a cautionary reminder of the consequences of a party's failure to comply strictly with contractual notice provisions. [1] [2019] EWCA Civ 1376

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Product liability update August 2019

29 August 2019

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A round-up of some of the recent product liability stories making the news.

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Auto-renewals and other consumer terms under the spotlight

Published on 28 August 2019. By Oliver Bray, Partner and Alyson Lloyd, Senior Associate

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The CMA has launched an investigation into potentially unfair terms in online gaming customer terms and conditions, such as auto-renewals, cancellation processes and discretion to alter clauses.

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Corporate tax update August 2019

27 August 2019

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Welcome to the latest edition of our Corporate Tax Update, written by members of RPC’s tax team. This month’s update reports on the key developments from July 2019 and includes a summary of the key business tax measures coming out of the publication of the draft Finance Bill 2020 legislation. There is also commentary on the draft regulations and consultation document published by HMRC on the UK’s implementation of DAC6 (mandatory disclosure of cross-border tax planning arrangements).

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Customs and excise quarterly update: August 2019

21 August 2019

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In this update we report on (1) revised guidance on the Customs Special Procedures for the Union Customs Code; (2) the consultation HMRC has opened into proposed changes to the rules for red diesel used in private pleasure crafts; and (3) the government’s programme to replace EU international agreements with bilateral agreements ready for the UK’s exit from the EU. We also comment on three recent cases relating to (1) whether HMRC has the power to permit temporary trading pending the determination of an appeal to the First-tier Tribunal; (2) excise wrongdoing penalties raised out of time; and (3) an appeal against an assessment for unpaid excise duty.

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High Court rejects Part VII transfer - Prudential and Rothesay Life

Published on 20 August 2019. By Neil Brown, Partner

High Court rejects Part VII transfer in Prudential and Rothesay Life case which had been approved by the regulators and blessed by the independent expert.

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FCA introduces 18-month grace period for two-factor authentication for online transactions

Published on 16 August 2019. By Jeremy Drew, Partner

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The Financial Conduct Authority this week agreed an 18-month "implementation plan" for Strong Customer Authentication (also known as "two-factor authentication").

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Sharpen your blue pencil: the doctrine of severance in employment cases

Published on 15 August 2019. By Kelly Thomson, Legal Director and Patrick Brodie, Partner

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In Tillman v Egon Zehnder Ltd [2019] UKSC 32, one such business asked the Supreme Court to reconsider the law and to change it to be fit for modern day purposes. In its landmark judgment handed down in July, the Supreme Court has done so. The core facts of the case are not unusual. Egon Zehnder (EZ) is a global specialist executive search and recruitment business. EZ recruited Mary-Caroline Tillman in 2004. As the High Court judge observed, the company regarded Ms Tillman as “a bit special”. She was recruited into a senior role on a salary of £120,000 and first year bonus of £100,000 and then rose steadily through the ranks of the organisation. By 2012, Ms Tillman was joint global head of the company’s financial services practice and a shareholder in the Swiss holding company.

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Clarity, clarity, clarity; more contract drafting lessons from the court

Published on 15 August 2019. By Davina Given, Partner and Victoria Rogers, Associate

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Keep under review options for terminating contracts which are no longer needed or pay the price. We discuss an interesting approach from the High Court to the well-known principles of contractual interpretation in Macquarie Capital v Nordsee. [2019] EWHC 1655 (Comm)

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Abridged Advice and Workplace Pension Schemes - digging deeper into the FCA's Latest Pension Transfer Consultation Paper

Published on 15 August 2019. By Anthony Cutler, Associate

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Now that the dust has settled on the FCA's latest Consultation Paper on Pension Transfers (CP19/25), is there more to the regulator's proposals than first met the eye?

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Abridged Advice and Workplace Pension Schemes - digging deeper into the FCA's Latest Pension Transfer Consultation Paper

Published on 15 August 2019. By Anthony Cutler, Associate

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Now that the dust has settled on the FCA's latest Consultation Paper on Pension Transfers (CP19/25), is there more to the regulator's proposals than first met the eye?

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The Senior Managers and Certification regime: The Final Countdown

Published on 08 August 2019. By Lucy Kerr, Senior Associate

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With only a few months to go until the Senior Managers and Certification Regime (SMCR) is extended to apply to all sole-regulated firms, the FCA has released further near-final rules and produced a report on its findings as to how firms in the banking sector have embedded the regime since March 2016.

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Lidl held to mislead consumers with cheesy price comparison

Published on 08 August 2019. By Oliver Bray, Partner and Charlie Gould, Trainee Solicitor

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When looking at Lidl's price comparison ad, which compared a number of prices of products with Morrisons, the Advertising Standards Authority found that if a retailer knows their competitor is offering a price promotion on a product, it can’t use the competitor’s normal higher price to make the comparison. This applies even if the backdrop to a savings claim is a year-long price comparison.

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eFootball transfers: Juve and Man U snub FIFA to sign for PES

Published on 07 August 2019. By Stuart Harris, Associate

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The RPC Sports group round-up football eSports deals: Juventus and Manchester United sign eSports partnerships with Pro Evolution Soccer, whilst Liverpool FC partners with FIFA.

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General liability newsletter - August 2019

Published on 05 August 2019. By Nick McMahon, Head of Health and Safety and Gavin Reese, Partner and Robert John, Senior Associate and Jonathan Drake, Senior Associate

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The latest general liability news coming out of the courts.

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