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A shot in the arm for football sponsorship – clubs take advantage of new shirt sleeve regulations
As forecasted in our blog post back in April, it wasn't long before other Premier League teams followed Manchester City's lead in announcing major tie-ups for shirt sleeve sponsorship.
Read moreNew corporate criminal offence
Failure to prevent the facilitation of tax evasion
Read moreFCA's review into non-advised retirement product sales
The FCA has published its retirement outcomes review interim report. The report forms part of the FCA's assessment of the impact of the pension freedoms on the pension market and consumer behaviour. Although the focus of the report is non-advised sales it provides a useful insight for all those involved in the pensions market in relation to (1) customer behaviour post the introduction of the pension freedoms and (2) how the pension market is responding to those reforms. The report also puts forward some proposed "remedies" in relation to areas where the FCA considers behaviour may be detrimentally impacting customers. The remedies include permitting customers to access part of their pension at an earlier date in what appears to be an attempt by the FCA to steer customers away from drawdown products.
Read moreKnow your (package) limitations
High Court decision clarifying application of the Hague-Visby Rules (HVR) to sea waybills and package limitation for containerised goods
Read moreRPC secures High Court win for Hammerson in £15m dispute
Result brings to an end the eight-year high profile dispute; first reported case on Nickle Sulphide (NiS) inclusions
Read moreLatest intake sees RPC retain 82% of Trainees
Latest intake sees RPC retain 82% of Trainees
Read more"Please sir, may I have some more [damages for failure to consent]?" No, says the Court of Appeal.
Shaw v Kovac: Court of Appeal rejects claim for an additional, separate award of damages for failure to obtain informed consent.
Read moreHigh Court sheds light on compulsory jurisdiction of Financial Ombudsman Service
The High Court has provided some clarification of the scope of the compulsory jurisdiction of the Financial Ombudsman Service (FOS). The decision has left the scope of that jurisdiction open to discussion, and appears to suggest that the courts will take a more mechanical approach to reviewing regulatory decisions.
Read moreHigh Court sheds light on compulsory jurisdiction of Financial Ombudsman Service
The High Court has provided some clarification of the scope of the compulsory jurisdiction of the Financial Ombudsman Service (FOS). The decision has left the scope of that jurisdiction open to discussion, and appears to suggest that the courts will take a more mechanical approach to reviewing regulatory decisions.
Read moreFood for thought
With New Year's resolutions to eat better now long forgotten, we discuss some top tips to push that 4pm sugar slump and ensure ultimate concentration while at work.
Read moreRestructuring and insolvency roundup, July 2017
In this roundup, we consider four recent cases with implications for practitioners in the restructuring and insolvency sector.
Read moreIndian sports broadcast network 'bowled out' for breach of a media rights agreement
This article considers New Zealand Cricket (Incorporation) v Neo Sports Broadcast PVT Ltd in which the High Court exercised its discretion and lifted a stay to allow the claimant, New Zealand Cricket, to successfully obtain summary judgment on a breach of contract claim with elements of bad faith counter-arguments.
Read moreWhat is "reasonable" when making a recovery?
Recovering sums paid out in settlement through court proceedings is an area of law where the Court's ability to resolve a dispute according to what is fair, proportionate and commercially sensible is alive and well.
Read moreComplex contracts and intricate inconsistencies – a reminder of the court's approach to contractual interpretation
In a year in which the Supreme Court will have produced two Judgments on the topic of contractual interpretation, the TCC's judgment in 125 OBS v Lend Lease is a useful reminder of the courts' approach to resolving these disputes and their attempt to find a balance between the so-called literal and commercial approaches to interpretation.
Read moreRetailers make hay while the sun shines
Retailers make hay while the sun shines
Read more“Last man standing”
What duties does a monitoring surveyor owe to a lending bank?
Read moreMiFID II Policy Statement: still not had a chance to read it?
Rachael Ellis summarises some of the FCA's key new conduct requirements arising from MiFID II now that it has published its final rules.
Read moreI see no ships – condition precedents under FOB contracts
A recent judgment of the Commercial Court suggests that a FOB buyer can be excused from nominating a vessel by an unaccepted renunciation of contract by a seller. This blog questions the court's approach in this case and examines the basic principles engaged.
Read moreOval Estates - Tribunal confirms deficiencies in invoices may not prevent VAT recovery
In Oval Estates (Bath) Limited v HMRC [2017] UKFTT 403 (TC), the First-tier Tribunal (FTT) held that input tax was attributable to an identifiable supply and was recoverable despite allegations of deliberate and concealed behaviour.
Read moreRPC names Karen Hendy as Head of Corporate
Appointment of new head comes set against global expansion
Read more23% jump in data breaches at financial services businesses
Financial advisers increasingly targeted: more reports expected as new General Data Protection Regulations comes in
Read moreBrevan Howard's gagging order against Reuters upheld by the Court of Appeal in breach of confidence case
The news agency, Reuters, has lost its appeal against an injunction, which prevented it from reporting leaked confidential and commercially sensitive information concerning a leading global alternative asset manager, Brevan Howard Asset Management LLP.
Read moreMärtin: Application directing HMRC to close its enquiry into tax avoidance scheme granted
In Jörg Märtin v HMRC [2017] UKFTT 488 (TC), the First-tier Tribunal (FTT) directed HMRC to close its enquiry as it had taken no action in three years.
Read moreFlagging the risk of a new type of trade mark infringement
The Intellectual Property Enterprise Court has recently ruled that linking an own brand product listing on Amazon to a competitor's branded listing for the same product amounts to trade mark infringement (and passing off) in a dispute over flagpoles.
Read moreAnstock - Tribunal quashes penalties imposed for failure to comply with information notice
Penalties for failure to comply with an information notice issued by HMRC can only be imposed if the information notice in question is unambiguous, clear and precise.
Read morePRA consultation to promote diversity on boards of large insurers
The PRA consults on further amendments to the Senior Insurance Managers Regime (SIMR) including promoting diversity on boards.
Read moreFCA releases its final rules for implementation of MiFID II
The FCA has released its final policy statement (PS17/14) detailing aspects of its implementation of MiFID II, including final rules and its response to the six preceding MiFID II consultation papers dating back to 2015.
Read moreDon't be scared – it's just an exemption clause
The Court of Appeal holds that an exemption clause is wide enough to exclude liability for negligence for a failure to identify asbestos.
Read moreRPC boosts Tech and Data offering with new Partner
Jon Bartley joins the firm with over 20 years' experience advising on digital, technology and data protection
Read moreFrom Giant Swans to English Gentlemen: naming conventions for English law firms in China
May 2017 marked an important moment for RPC – our London and Hong Kong offices now operate as a single entity, boosting the firm's promotion of its brand in the Greater China area.
Read moreBournemouth bets on shirt sponsorship deal with M88
AFC Bournemouth announces a two year deal with online gambling company M88, which includes shirt sponsorship and pitch-side branding.
Read moreThe Automated and Electronic Vehicles Bill
The Automated and Electronic Vehicles Bill was announced during the Queen's Speech and is intended to put the UK at the forefront of the driverless car market, estimated to be worth £28bn by 2035.
Read moreTax update, July 2017
In this month’s Update we report on draft provisions for a EU wide cross-border tax planning disclosure requirement; changes to HMRC’s guidance on the WDF and announcements in the Queen’s Speech in relation to the next Finance Bill.
Read moreBerlioz - ECJ confirms that third parties can challenge 'foreseeable relevance' of tax information exchange requests
In Berlioz Investment Fund SA v Directeur de l'administration des Contributions directes (Case C-682/15), the ECJ has confirmed that a Member State's national court can review a tax information request made by another Member State in order to assess whether the requested information is 'foreseeably relevant'.
Read morePayment against letters of indemnity – is it safe?
In the commodity trading world, it is traditional for payment to be made by the buyer against the presentation by the seller of certain shipping documents including bills of lading. That is the case whether payment is to be made under a letter of credit (LC) or by direct tender of documents to the buyer. However, a common practice has developed, particularly in the oil trade, for parties to agree in their contracts that the seller may, instead of presenting shipping documents to trigger payment, present a letter of indemnity instead. But there are risks to the buyer in paying against such letters of indemnity.
Read moreRetail CFD firms face potential EU market-wide restrictions and further criticism from the FCA
The European Securities and Markets (ESMA) has announced it is considering imposing restrictions on contracts for difference (CFD) trading that would mean seismic changes for the industry, whilst the FCA has announced its serious concerns about the CFD industry's continued failure to meet expectations regarding the treatment of retail clients.
Read moreDefective service and culpable delay: a warning to claimants
Commercial Court refuses application for alternative service and strikes out claim forms after claimant's delay in pursuing claim.
Read moreCherry picking in an adjudication is fine – as long as you're the Referring Party
It has been established for some time that Referring Parties have the right to 'cherry pick' its claim for the purpose of adjudication - essentially selecting part or parts of a wider application or dispute and referring those to an adjudicator to make an award on rather than the full dispute or an entire account.
Read more欧州Ｍ＆Ａ最前線 2017年６月
ブレグジット交渉が始まり、与党・保守党と北アイルランドの民主統一党（ＤＵＰ）の閣外協力もやっとのことで決まった。
Read more"NEW FLAMENCO" – Supreme Court reverses Court of Appeal
In a shock decision, the Supreme Court has allowed shipowners' appeal in the "NEW FLAMENCO". The Supreme Court held that the sale of the ship following the repudiation of the charterparty was not an act in mitigation, and was not relevant to the calculation of damages for breach of contract.
Read moreVAT update, June 2017
In this month's update we report on proposals for the reduced VAT rate for e-publications, HMRC's first publication of VAT Notes 2017, in which it explains changes to VAT for businesses, and the latest stage in the long-running compound interest litigation involving Littlewoods.
Read moreFCA proposes remedies following asset management sector market study
The FCA today published the final findings of its asset management market study and it has announced the remedies that will be implemented to address the concerns previously identified.
Read moreContinued FCA focus on appointed representatives – more regulatory interventions in the London Market
FCA announce follow up supervisory work and regulatory interventions on insurance intermediaries with networks of appointed representatives (ARs).
Read moreHMRC facing record-high number of judicial reviews
‘Ordinary taxpayers’ forced to High Court; HMRC acting unlawfully
Read moreRai - Tribunal quashes penalties for non-payment of PPNs and criticises HMRC's 'nitpicking pedantry'
In Rai v HMRC [2017] UKFTT 0467 (TC), the First-tier Tribunal (FTT) was critical of HMRC's conduct and cancelled assessments to penalties which it had issued for failure to pay on time amounts demanded in partner payment notices (PPNs), as the statutory payment period had not expired.
Read moreCowboys beware; the AML Sheriff is on her way
With under a year until the first Financial Action Task Force ("FATF") visit to the UK in a decade, the FCA is consulting on proposed changes to its Handbook as the new money laundering regulations ("MLR 2017") come into force today.
Read moreAnother bad bargain upheld: Wood v Sureterm Direct Ltd [2017] UKSC 24
The Supreme Court has dismissed an appeal in Wood v Sureterm Direct Ltd. The Court upheld the Court of Appeal's decision on the meaning of an indemnity clause, and agreed with its application of established contractual interpretation doctrine. The decision confirms the established judicial approach to contractual interpretation, namely the focus on the words of a given clause.
Read moreFitness and a Full Time Job
With sedentary and time-consuming jobs, it can be difficult to find the time to get the recommended level of exercise in each week. Rebecca May considers how to juggle fitness and a full time job.
Read moreFCA consultation on pension transfers – what does it mean for advisers?
The FCA threatened it and now we have it – on 21 June the FCA published its consultation paper on DB transfers and safeguarded benefit conversions.
Read morePitcher - Tribunal finds in favour of taxpayer in APN penalty appeal
In Graham Pitcher [2017] UKFTT 0406 (TC), the First-tier Tribunal (FTT) allowed the taxpayer's appeal against a penalty for non-payment of an Accelerated Payment Notice (APN) due to defects in the APN.
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