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Snapshot

Consumer New - CMA campaign on unfair contract terms

13 December 2016

Following an investigation into business attitudes towards unfair terms in consumer contracts, the CMA has published new practical guidance to assist compliance.

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Snapshot

Consumer New - Pricing Practices Guide

13 December 2016

The Chartered Trading Standards Institute (CTSI) has published new guidance which replaces the former version, being the Department for Business Innovation and Skills’ (BIS) Pricing Practices Guide 2010.

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Snapshot

Nuisance calls

13 December 2016

From Spring 2017, directors can each be fined up to £500,000 by the Information Commissioner's Office (ICO) if their firms are found to be in breach of the Privacy and Electronic Communications Regulations (the Regulations) by making nuisance calls.

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Snapshot

Investigatory Powers Act: Royal assent

13 December 2016

On 29 November 2016, the Queen gave royal assent to the Investigatory Powers Bill, marking the end of the controversial bill’s passage into law.

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Snapshot

TalkTalk: how quickly must you notify a personal data breach?

13 December 2016

How quickly must you notify the ICO following notification of a personal data breach? And what lessons can be learned from the tight timescales currently imposed on communications providers as all businesses head towards 72 hour data breach notification under the GDPR?

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Snapshot

TalkTalk: ICO issues record fine

13 December 2016

The ICO has issued a record £400,000 fine to TalkTalk for failing to keep personal data secure in breach of the Data Protection Act 1998 (DPA).

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Snapshot

Remedies for breach of contract - Scottish Power UK Plc v BP Exploration Operating Company Ltd Company Ltd [2016] EWCA 1043

13 December 2016

Can a party be limited to an exclusive contractual remedy, without the right to claim damages for breach of contract?

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Snapshot

New ICO Code on Privacy Notices Transparency and Control

13 December 2016

The Information Commissioner’s Office (ICO) has recently issued a new Code of Practice on Privacy Notices, Transparency and Control (the Code).

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Snapshot

Warranties - Idemitsu Kosan Co Ltd v Sumitomo Co Corp [2016] EWHC 1909 (Comm)

13 December 2016

Can warranties constitute statements of fact which are actionable as misrepresentations?

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Snapshot

Contractual interpretation - Process Components Ltd v Kason Kek Gardner Ltd 2016 EWHC 2198 Ch

13 December 2016

Should a contract be construed in light of a common assumption between the parties?

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Snapshot

Contractual discretion - Brogden and another v Investec Bank plc [2016] EWCA Civ 1031

13 December 2016

What are the limits on a discretion conferred by a contract?

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Snapshot

Confidential information Kerry Ingredients (UK) Ltd v Bakkavor Group Ltd [2016] EWHC 2448 (CH)

13 December 2016

Does information provided for one purpose (but not under an express NDA), and used by the recipient for its own purposes enable the discloser to bring a claim for breach of confidence?

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Snapshot

Restrictive covenants - Millen v Karen Millen Fashions Ltd & Anor [2016]

13 December 2016

What is the scope of restrictive covenants given by a seller of a business?

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Snapshot

Binding terms: Wells v Devani [2016] EWCA Civ 1106

13 December 2016

In what circumstances will the Court imply a term to fill a gap in a contract?

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Snapshot

Binding terms: Novus Aviation Limited v Alubaf Arab International Bank BSC(c) [2016] EWHC 1575 (Comm)

13 December 2016

Does a letter signed by one party but not the other constitute an enforceable contract?

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Snapshot

Binding terms: Arcadis Consulting (UK) Ltd v AMEC (BSC) Ltd [2016]

13 December 2016

Can a letter of intent constitute a binding contract?

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Press and Media

RPC launches Managing Partner election process

12 December 2016

RPC – the City-headquartered law firm – has launched an election process following news that Jonathan Watmough, the firm's Managing Partner, has retired from the firm.

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Blog

Kevin Reed v HMRC - Tribunal dismisses taxpayer's application for reinstatement of his appeal

Published on 12 December 2016. By Alexis Armitage, Associate

In Kevin Reed v HMRC [2016] UKFTT 0653 (TC), the First-tier Tribunal (FTT) dismissed the taxpayer's application for reinstatement of his appeal which had been struck out for failing to comply with directions issued by the FTT.

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Press and Media

RPC Consulting expands with two senior hires

08 December 2016

RPC Consulting – the insurance consultancy arm of City-headquartered professional services firm RPC – has hired two highly recognised leaders from the insurance industry to boost the business in London.

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Blog

FCA identifies concerns with PI cover for general insurance intermediaries

07 December 2016

The FCA has announced the results of a review into general insurance intermediaries' professional indemnity insurance. The FCA found sufficient breadth in the market, but also identified some significant concerns about the cover firms had purchased.

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Blog

Icebreaker litigation: partial award of costs upheld as HMRC recognised as the "substantial victor"

Published on 06 December 2016. By Constantine Christofi, Associate

In Bastionspark LLP and others v HMRC , the Upper Tribunal (UT) has held that the First-tier Tribunal (FTT) was entitled to find that HMRC had been the "substantial victor" and to make a partial award of costs in favour of HMRC notwithstanding that each party had been partially successful in an appeal against HMRC's decision regarding allowable expenditure.

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Blog

Investigatory Powers Act gets royal assent

Published on 02 December 2016. By Oliver Murphy, Associate

This week, the Queen gave royal assent to the Investigatory Powers Bill (aka "The Snoopers Charter"), marking the end of the controversial bill's passage into law.

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Blog

Spring Capital -Tribunal directs postponement of payment of tax

Published on 02 December 2016. By Constantine Christofi, Associate

In Spring Capital Ltd v HMRC , the First-tier Tribunal (FTT) allowed the taxpayer's application for the postponement of payment of tax under section 55 Taxes Management Act 1970 (TMA), as it had a reasonable argument in relation to the underlying substantive issue.

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Publication

Tax update, December 2016

Published on 01 December 2016. By Adam Craggs, Partner

In this update we report on HMRC’s new guidance on client notification regarding Common Reporting Standards, the targeting by HMRC of the UK’s richest people and HMRC’s progress in reviewing the so-called Panama Papers. We also comment on three recent cases on whether the Tribunal has jurisdiction to entertain an application to provide witness evidence made by a non-party to the appeal, an inheritance tax scheme which succeeded and the Ramsay principle in the context of a proposed scheme of arrangement.

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Blog

Online Sales and Price-Fixing

Published on 01 December 2016. By Melanie Musgrave, Senior Associate

The CMA recently issued a warning to online retailers against price-fixing and using automated re-pricing software to facilitate such arrangements.

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Blog

FCA consults about delaying disclosure of inside information

01 December 2016

The FCA has issued a consultation on amendments it proposes to make to the Disclosure and Transparency Rules section of the FCA Handbook. The FCA proposes to make these amendments to make the FCA Handbook consistent with ESMA's guidelines on delay in the disclosure of inside information.

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Blog

"For success and resilience – diversify!"

30 November 2016

When PayPal, Uber, Acritas, Springer Nature, Legal & General Group Plc and RPC are all reported as saying the same thing on the same day – that diversifying your legal department and your law firm client contact team is good for business – then…. hopefully, the message will start to sink in!

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Publication

FCA market study findings

Published on 30 November 2016. By Anthony Shatz, Partner

One year on from the FCA’s launch of its market study in November 2015 on the asset management sector, the regulator’s interim findings suggest there is more to be done to achieve effective competition. It has also proposed some interim remedies, on which it seeks feedback by 20 February 2017.

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Press and Media

RPC named Best Legal Adviser for eighth straight year

Published on 29 November 2016. By James Miller, Managing Partner and Tim Anderson, Partner

City-headquartered law firm RPC has been named a Best Legal Adviser by industry publication Legal Week, following research of almost 800 buyers of legal services.

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Blog

Has Brexit cancelled Christmas?

Published on 25 November 2016. By Dani Barnes, Associate

The pressure is on for brands to compete for advertising success. But what is it about the festive period that encourages brands to spend increasingly eye-watering sums year on year? And has Brexit impacted brands' willingness to splash their cash on adverts this Christmas?

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Blog

High Court considers the Ramsay principle in the context of a proposed scheme of arrangement

23 November 2016

In Re Home Retail Group Plc , the High Court considered the so-called Ramsay principle of purposive construction in deciding whether a cancellation scheme following the sale of a business, to be carried out in connection with a takeover, fell within the anti-avoidance provisions contained in section 641(2A), Companies Act 2006 (CA 2006).

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Publication

The proof of the pudding is in the eating

Published on 23 November 2016. By Catherine Percy, Partner and Alice Wilson, Senior Associate

Insureds can have their cake but only if they eat it too

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Publication

VAT update, November 2016

Published on 23 November 2016. By Adam Craggs, Partner

In this month’s update we report on new regulations which allow HMRC to refuse registration of VAT representatives, HMRC’s new policy on the correct treatment of VAT incurred by a business prior to its VAT registration and the EU’s extension of the UK’s VAT derogation permitting the UK to restrict input tax recovery on car leasing costs to 50% where the car is available for private use.

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Blog

Adjudication costs not recoverable as costs of proceedings

Published on 23 November 2016. By Felicity Johnson, Senior Associate

The Technology & Construction Court ("TCC") has recently considered whether there are circumstances in which a party can recover adjudication costs; the position, ordinarily, being that the costs of adjudication are not recoverable from the other side.

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Blog

"Refine but not replace Solvency II" declares the ABI

Published on 21 November 2016. By Jonathan Charwat, Associate

In its response to the Select Committee inquiry into the impact of Solvency II (as reported by us in September), the Association of British Insurers (ABI) has called on the Government to refine and not replace Solvency II. The response also claims that the implementation of the new regulations is harming customers, distorting markets and potentially unnecessarily affecting UK firms' ability to compete in the EU and globally.

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Blog

Approaches to supervising the conduct of intermediaries, IAIS paper

Published on 21 November 2016. By Jonathan Charwat, Associate

The International Association of Insurance Supervisors (IAIS) has published an application paper on approaches to supervising the conduct of intermediaries.

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Blog

Smartphones, smartwatches... 'smart' offices?

Published on 18 November 2016. By Sophie Tuson, Associate

Robot security guards, coffee machines that remember how you like your cappuccino, and smartphone apps which enable employees to control heating and lighting at the touch of a button. Welcome to the brave new world of the ‘smart’ office.

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Blog

The ins and outs of tall buildings

Published on 18 November 2016. By Johanna Hall, Senior Associate

Whilst iconic design can be fabulous, RPC asks if we will see developers and architects put more thought into the needs of their occupiers and surrounding landowners, and less of a focus on headline-grabbing exterior designs.

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Blog

High Court dismisses Libyan Investment Authority's claim against Goldman Sachs

Published on 17 November 2016. By Simon Hart, Partner and Sarah Shaul, Associate

The High Court dismissed the Libyan Investment Authority's claim against Goldman Sachs based on two causes of action, undue influence and unconscionable bargains, in relation to a series of transactions which the parties entered into (the Disputed Trades) between September 2007 and April 2008, causing the LIA to lose billions.

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Blog

BBC prevented from submitting evidence in IR35 case

Published on 16 November 2016. By Nicole Kostic, Senior Associate

In Paya Limited and Tim Willcox Limited v HMRC [2016] UKFTT 0660 (TC), the First-tier Tribunal (FTT) held that the BBC could not provide witness evidence of its own motion to the FTT in tax appeals, to which it was not a party.

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Blog

High Court considers validity and timing of contractual notices in close-out procedures

Published on 16 November 2016. By Jake Hardy, Legal Director

The Commercial Court in London has considered a range of issues arising from the application of the close-out provisions of the standard form GMRA (Global Master Repurchase Agreement), year 2000 version (2000 GMRA).

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Video

TerraLex: 19,000 lawyers. 100 countries. One network

15 November 2016

Terri Gavulic, Executive Director of TerraLex, explains how this international network of law firms offers the kind of low-fuss cost effective cross-border solution that clients value.

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Publication

Wealth and Trusts quarterly digest

Published on 15 November 2016. By Adam Craggs, Partner

Our quarterly digest aims to bring you up to date commentary and analysis on key sector developments. RPC’s tax, wealth and trusts teams are able to provide a wide ranging service to assist you and your clients in responding to market trends and legal developments. We would welcome the opportunity to discuss any concerns you may have and always welcome feedback on the content of our publications.

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Blog

The Olympic party that nobody wants to host

14 November 2016

Rio de Janeiro knows how to throw a party. But now that the dust has settled after the carnival celebration of hosting the Olympic Games, what state has the city been left in?

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Blog

Salinger: IHT scheme succeeds

Published on 11 November 2016. By Constantine Christofi, Associate

In M L Salinger and J L Kirby v HMRC [2016] UKFTT 677 (TC), the First-tier Tribunal (FTT) held that the transfer of a reversionary interest had not been a transfer of value for Inheritance Tax (IHT) purposes and allowed the taxpayers' appeal.eal.

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Blog

Acceptance or a counter-offer - what relevance are communications after the fact?

Published on 11 November 2016. By Christopher Whitehouse, Associate and Simon Hart, Partner

In Caroline Gibbs v Lakeside Developments the High Court held that an email purporting to accept a settlement offer but attaching a consent order specifying a different payment date was not an acceptance but a counter-offer.

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Blog

Building on Brexit

Published on 10 November 2016. By Alex Badel, Senior Associate

The Impact of Brexit on the Construction Industry and the House of Commons Briefing Paper

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Blog

Essar v Norscot: the landmark decision third party funding has been waiting for?

Published on 10 November 2016. By Daniel Hemming, Senior Associate and Geraldine Elliott, Partner

The Commercial Court rejected an application to set aside an arbitral award entitling the respondent to its costs of third party litigation funding on the ground of serious irregularity. It also held that the Arbitration Act 1996 power to award "legal and other costs" included the costs of litigation funding.

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Press and Media

Cyber-attack on Tesco Bank runs against the trend for hackers to focus on non-bank financial services businesses

Published on 10 November 2016. By Philip Tansley, Legal Director

Reported data breaches at UK banks halve in a year...but fraud is just shifting to other parts of the market

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Blog

Intention to be bound: High Court construes commitment letter against equity participant

Published on 09 November 2016. By Parham Kouchikali, Partner and Matthew Evans, Senior Associate

The High Court held that the defendant signatory to a commitment letter intended to be legally bound by that document and was consequently in anticipatory repudiatory breach of contract. The decision highlights the need for contracting parties to be clear in documenting both their internal and external decision-making processes.

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