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Delay not a bar to obtaining freezing injunction

Published on 18 December 2015. By Charlotte Henschen (née Ducker), Senior Associate and Geraldine Elliott, Partner

The High Court has granted three insolvent Cayman companies (each in liquidation) a worldwide freezing order in support of proceedings against Mr Terrill, an individual who operated behind the companies' respective corporate directors as their sole director and shareholder.

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Blog

Getting ahead of the curve: EBA consults on 'robo-advisers'

17 December 2015

Technology will transform the financial advice world, and this transformation has already begun.

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Publication

Financial Litigation roundup

17 December 2015

Welcome to the latest edition of our Financial Litigation roundup. In this edition, we consider recent judgments and ongoing cases from the banking and financial world in the UK and Asia, as well as regulatory developments in those jurisdictions

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Publication

Financial Litigation roundup

17 December 2015

Welcome to the latest edition of our Financial Litigation roundup. In this edition, we consider recent judgments and ongoing cases from the banking and financial world in the UK and Asia, as well as regulatory developments in those jurisdictions

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Publication

Employment update, November 2015

17 December 2015

Penalty clauses: what is the test where a clause is claimed to be unenforceable?

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Blog

Show me the money: new capital requirements for PIFs

16 December 2015

Last week the FCA released its Policy Statement PS15/28: Capital resources requirements for personal investment firms (PIFs) updating rules that set the amount of capital to be held by directly authorised PIFs which date back to 1994.

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Blog

Hely-Hutchinson - taxpayer wins legitimate expectation judicial review

16 December 2015

In R(oao Hely-Hutchinson) v HMRC [2015] EWHC 3261 (Admin) ...

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Blog

Anti-suit injunctions – do not delay

16 December 2015

The recent judgment of the English Commercial Court in Essar Shipping Ltd v Bank of China Ltd[1] has highlighted the importance of applying for anti-suit injunctions swiftly once the dispute arises.

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Blog

Litigation privilege: A tangled web unwoven

Published on 15 December 2015. By Davina Given, Partner

Deception undermines the "dominant purpose" necessary for a claim to litigation privilege in the most recent instalment in the ongoing saga of Property Alliance Group Ltd v Royal Bank of Scotland Plc.

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Blog

IFAs quizzed by FCA over insistent clients

Published on 14 December 2015. By James Wickes, Partner

The FCA has asked IFAs to explain how they deal with situations where clients wish to act against advice on pension transfers.

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Blog

Ballast Water Management Convention likely to come in 2016

14 December 2015

Three countries, Monaco, Indonesia and Ghana, ratified the IMO Ballast Water Management (BWM) Convention, during the recent IMO Biennial Assembly Meeting, in London.

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Publication

National Grid Gas plc hit with £2m fine for health and safety breach

11 December 2015

Abstract building

National Grid Gas plc hit with £2m fine for health and safety breach

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Publication

National Grid hit with £2m fine for health and safety breach

11 December 2015

A sign of things to come?

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Blog

No returns for M&S following Supreme Court ruling

11 December 2015

The Supreme Court has upheld the decision of the Court of Appeal in the case of Marks and Spencer plc (M&S) v BNP Paribas Securities Trust Company (Jersey) Ltd (BNPP).

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Blog

PRA fines bank for outsourcing failures

10 December 2015

Last week, the PRA announced that it had imposed a fine of over £1.2 million on R. Raphael & Sons plc.

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Blog

Discovery assessments - HMRC fails to discharge burden of proof

Published on 10 December 2015. By Adam Craggs, Partner

The following is taken from an article originally published in Tax Journal

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Blog

FCA frustrated by continuing shortcomings in wealth management sector but must accept subtleties of suitability

09 December 2015

The FCA's thematic review report published today expresses concern about some wealth management firms who are still not getting suitability right despite five years of regulatory 'communications'.

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Blog

Lawyer v lawyer: where there's blame there's a claim?

Published on 09 December 2015. By Claire Revell, Senior Associate

Dissatisfied clients of law firms have probably never had so many ways to complain about their solicitor.

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Blog

China's Two Child Policy: Too Little Too Late?

08 December 2015

Announced in a very 21st century way, China's official news agency recently tweeted that China will be implementing a policy allowing couples to have two children.

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Blog

Serbian forum shopper in disclosure breach of duty has privacy and libel action struck out

07 December 2015

On 23 November 2015 Sir Michael Tugendhat set aside an order for service out of the jurisdiction of proceedings for the misuse of private information and libel which had been made by Master Roberts on 31 March 2015 in respect of an article in Politika,

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Blog

The Supreme Court restates the rule on penalties

Published on 07 December 2015. By Andy McGregor, Head of Civil Fraud

The Supreme Court has recast the test for penalties to bring it into line with modern commercial practices. The new test is less formalistic and leaves the courts with greater discretion to look at the commercial rationale for a clause.

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Blog

Delegation of regulated activities – warning from the FCA

Published on 03 December 2015. By Rachael Healey, Partner

Adviser firms delegating regulated activities to unregulated third parties have been removed from the FCA's Christmas card list following a notice issued this week.

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Blog

FCA has increasing appetite to use alternative enforcement penalties

03 December 2015

In a recent appearance before the Treasury Select Committee the FCA has hinted that it may make further use of its restriction and suspension powers as an alternative as well as an addition to the power to impose financial penalties.

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Blog

High Court clarifies scope of duties owed by directors to shareholders

Published on 03 December 2015. By Simon Hart, Partner

The High Court has struck out a number of claims brought by shareholders in what was, in 2008, Lloyds TSB against its directors (Sharp & others v Blank & others).

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Publication

Tax update

02 December 2015

Small Business Research & Development Relief

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Blog

Employees on Social Media - Managing the Risk

Published on 02 December 2015. By Joshua Charalambous, Associate

Employees who actively use social media can be a fantastic 24/7 dynamic marketing tool for companies.

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Blog

Small businesses; large losses?

Published on 01 December 2015. By Robert Morris, Partner

On Friday the FCA published a wide ranging discussion paper in which it seeks comments on proposed changes to the way in which it, and the FOS, deals with SME businesses.

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Blog

Small businesses; large losses?

Published on 01 December 2015. By Robert Morris, Partner

On Friday the FCA published a wide ranging discussion paper in which it seeks comments on proposed changes to the way in which it, and the FOS, deals with SME businesses.

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Blog

Squatting: an own goal?

01 December 2015

In October 2015, a Manchester hotel undergoing extensive refurbishment works was occupied by squatters and housing activists.

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Blog

Supreme Court broadens scope of freezing order wording

Published on 30 November 2015. By Emma Griffiths, Senior Associate and Parham Kouchikali, Partner

A recent decision[1] of the Supreme Court has clarified the scope of the standard form Commercial Court freezing order, holding that the right to draw down monies under a loan agreement can be an "asset" where the extended form freezing order is granted.

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Blog

FCA Publish Draft Guidance on Cloud Services

Published on 30 November 2015. By Mark Crichard, Partner

The FCA has recently published draft guidance for firms outsourcing to the cloud and other third party IT services. This comes as part of the FCA's work on "Project Innovate" which aims to tackle issues stifling innovation within the regulatory sector.

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Blog

Twitter found unsuitable means of communicating FOI request

Published on 27 November 2015.

The First Tier Tribunal (Information Rights) (the Tribunal) has held that a request under the Freedom of Information Act 2000 made via Twitter is not valid.

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Blog

Tribunal criticizes HMRC’s refusal to allow retrospective VAT group application

Published on 27 November 2015. By Ben Roberts, Senior Associate

The First-tier Tribunal (in Copthorn Holdings Ltd v HMRC) has asked HMRC to reconsider its decision to refuse a taxpayer’s application for retrospective VAT group registration. This is the second time HMRC have been asked to “think again” on their decision.

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Publication

VAT update

26 November 2015

HMRC publishes guidance on pension fund management costs

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Blog

FCA to examine use of big data in insurance

26 November 2015

Green tint 3

This week, the FCA has issued a "call for inputs" around how insurance firms use big data.

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Blog

Tim Yeo loses libel action against Sunday Times

25 November 2015

The High Court has today dismissed an action by Tim Yeo, the former MP for South Suffolk and Chairman of the Energy and Climate Change Select Committee, against Times Newspapers Limited in an important judgment on the Reynolds defence and the scope of politicians' Article 8 rights.

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Blog

Special relief granted for excessive tax demand

Published on 25 November 2015. By Adam Craggs, Partner

In Montshiwa v HMRC[1], the First-Tier Tribunal (FTT) allowed the taxpayer's appeal against HMRC's decision not to grant 'special relief' under Schedule 1AB of the Taxes Management Act 1970 (TMA).

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Blog

Innovate, influence and inspire – top tips for GCs and in-house lawyers looking to get ahead

24 November 2015

What are the key imperatives GCs must consider as they scan the horizon and think about those skills that will best equip them over the coming years?

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Publication

Cyber fraud - a new hope?

23 November 2015

We have previously warned of the threat posed by fraudsters who are targeting solicitors’ client accounts to misappropriate funds (read our blog last February here).

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Publication

Employment update, October 2015

23 November 2015

Whistleblowing: A dispute about terms of employment can be a matter of “public interest”

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Publication

Cyber fraud – a new hope?

23 November 2015

We have previously warned of the threat posed by fraudsters who are targeting solicitors’ client accounts to misappropriate funds.

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Blog

CofA upholds privacy claim by Paul Weller family

Published on 20 November 2015.

The Court of Appeal has upheld a High Court finding that the publishers of Mail Online infringed the privacy of three of Paul Weller's children by publishing unpixellated pictures of them on a family shopping trip in LA.

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Blog

Data leaks - a portent of the future?

Published on 20 November 2015. By Alex Wilson, Associate

The Culture, Media and Sport Committee have launched an inquiry in the wake of the recent cyber-attack on the TalkTalk website on 21 October,

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Blog

Court of Appeal upholds estoppel by convention for forgetfulness

Published on 20 November 2015. By Alexis Armitage, Associate and Tim Brown, Partner

In Dixon and another v Blindley Health Investments Ltd[1] the Court of Appeal held that a shareholder was estopped by convention from relying on a pre-emption agreement for the sale of shares which had been agreed by members informally through correspondence some 8 years previously and had since allegedly been forgotten.

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Blog

When can a company assert legal advice privilege against its shareholders?

20 November 2015

A High Court judge recently confirmed the general principle that a company cannot assert legal advice privilege against its shareholders, subject to one exception:

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Blog

Limiting your retainer – success before the Court of Appeal for divorce lawyers

Published on 20 November 2015. By Rachael Healey, Partner

Divorce settlements have attracted a number of professional negligence claims recently.

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Publication

Corporate tax update

19 November 2015

Welcome to the latest edition of our Corporate Tax Update, written by members of RPC’s tax team and published quarterly. In this edition we highlight some of the key tax developments of interest to UK corporates from the third quarter of 2015.

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Blog

Tribunal allows private residence relief

Published on 19 November 2015. By Constantine Christofi, Associate

In the recent case of Richard James Dutton-Foreshaw v HMRC[1], the First-tier Tribunal (FTT) held that Mr Dutton-Foreshaw (the Appellant) was entitled to claim principal private residence relief (PPR) under section 222 Taxation of Chargeable Gains Act 1992 (TCGA), despite only having lived in the property concerned for seven weeks.

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Blog

POPLA likely to be more popular after Supreme Court rejects parking ticket appeal

16 November 2015

The Supreme Court decision in ParkingEye v Beavis has attracted much attention, not least because it was all about a £85 parking fine.

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Blog

British Racing no longer in the fast lane: indemnity costs prevail where costs claimed as damages

Published on 16 November 2015. By Chloe Derrick, Senior Associate

In a notable departure from earlier case law, the High Court determined last month in Hawksford Trustees Jersey Ltd v Halliwells LLP (In liquidation) [2015] EWHC 2996 (Ch) that the proper method of assessing costs claimed as damages in the context of proceedings was on the indemnity basis.

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