vLex United Kingdom

  • Blog: FCA – business interruption insurance test case – judgment

    On 15 September the High Court handed down its judgment in the Financial Conduct Authority’s COVID-19 business interruption insurance test case. While there are mixed results in relation to a large number of questions, the court has ruled in favour of the policyholders’ arguments on most of the issues. (See Article)

    Sep 17, 2020 6:32 PM

  • UK FCA's Business Interruption Insurance Test Case Decided by High Court

    On 15 September 2020, the High Court in London delivered an important judgment on liability for business interruption insurance. The ruling provides much needed clarification for policyholders, in view of the detrimental business effects from the Coronavirus pandemic lockdown and restrictions. (See Article)

    Sep 17, 2020 6:32 PM

  • Payments regulatory news, September 2020 # 2

    PSR annual report and accounts 2019 to 2020 - The Payment Systems Regulator (PSR) annual report and accounts 2019 to 2020 has been published... (See Article)

    Sep 17, 2020 8:32 AM

  • UK Life Sciences and Healthcare Newsletter - September 2020: Life Sciences Investing Has Had A Good Bull Run - Will Covid-19 Upset That?

    Sponsors of life sciences funds have, over the past 5 years, enjoyed a steady but significant run of positive fund raising. Similarly, capital deployed into life sciences companies has increased steadily over this period, with both the absolute amount invested and size per funding round at an all-time high as of the end of Q1 2020. Against this, will the pandemic or other factors negatively impact the steady bull run of the last 5 years? In this article, we explore what trends can be discerned from the recent past and what the pandemic might hold for the industry going forward. (See Article)

    Sep 17, 2020 8:32 AM

  • Merchant Shipping (Consequential Amendments) (EU Exit) Regulations 2020

    The Merchant Shipping (Consequential Amendments) (EU Exit) Regulations 2020 were laid before Parliament on 16th September 2020. The Regulations amend earlier legislation relating to merchant shipping made in order to address perceived deficiencies arising from the withdrawal of the United Kingdom from the European Union. Details of the amendments can be found here.

    Sep 17, 2020 8:30 AM

  • Civil Legal Aid (Remuneration) (Amendment) (No. 2) (Coronavirus) Regulations 2020

    The Civil Legal Aid (Remuneration) (Amendment) (No. 2) (Coronavirus) Regulations 2020 come into force on 7th September 2020. The Regulations amend the Civil Legal Aid (Remuneration) Regulations 2013 and also revoke the Civil Legal Aid (Remuneration) (Amendment) (Coronavirus) Regulations 2020. Details of the amendments can be viewed here.

    Sep 17, 2020 8:29 AM

  • Anti-Counterfeiting Strategies in the EU and UK

    Unfortunately, IP crime is on the rise, particularly during these unprecedented times. A 2019 report found that the trade of counterfeit goods around the world now generates income of $509 billion annually. In Europe, around 7% of goods have been found to be counterfeit, which equates to approximately €121 billion in counterfeit goods per year.... (See Article)

    Sep 17, 2020 6:33 AM

  • Is Your Trademark Portfolio Brexit-Ready? Steps to Take Now to Ensure a Smooth Transition

    While the UK formally left the EU on January 31, 2020, “Exit Day” will occur on December 31, 2020. Are your trademarks ready? This article provides a brief checklist of considerations as we approach the hard exit date at the end of this year. For existing European Union Trade Mark (EUTM) registrations, each registration will... (See Article)

    Sep 17, 2020 6:33 AM

  • UK COVID-19: Government extends protections for commercial tenants

    After much speculation the government has today announced that it will be extending protections that have been afforded to commercial tenants as a result of the COVID-19 pandemic. What are the current protections? Commercial tenants currently benefit from a number of COVID-19 related protections including: a temporary prohibition on landlords forfeiting commercial leases as a... (See Article)

    Sep 17, 2020 6:33 AM

  • Work-From-Home Policies in the Post-COVID Era

    COVID-19 has sparked a seismic change in the workplace as many companies have found that working from home (“WFH”) has not diminished employee productivity and that employees prefer its greater flexibility. Given that—and the potential for saving on overhead costs—many companies have announced plans to adopt long-term WFH policies and close or realign office space.... (See Article)

    Sep 17, 2020 6:33 AM

  • How Do The Changes to the UK Insolvency Laws apply to Energy Companies?

    As we discussed in our previous blog relating to the Supplier of Last Resort Process, energy company insolvencies bring with them a range of different processes and requirements which other companies do not need to consider. In particular, the involvement of the Secretary of State and the Gas and Electricity Markets Authority (GEMA) in energy... (See Article)

    Sep 17, 2020 6:33 AM

  • Employment News: equal pay, redundancy, GDPR

    If it ain't broke – material factor still explained pay disparity after job evaluation - Employers have a defence to an equal pay claim if they can show that a difference in pay between an employee and their comparator is because of a material factor that does not involve direct or indirect discrimination. (See Article)

    Sep 17, 2020 6:32 AM

  • A Right Royal Rejection: “Royal Butler” Trade Mark Application Denied in the UK

    HRH Prince Charles’ former butler has had his application to register a “Royal Butler” logo as a UK trade mark denied by the UK Intellectual Property Office following a successful opposition by Lord Chamberlain, on behalf of Her Majesty the Queen. (See Article)

    Sep 17, 2020 6:32 AM

  • English High Court Rules In Favour Of Policyholders In COVID-19 Business Interruption Test Case

    The High Court has yesterday handed down its judgment in the test case of The Financial Conduct Authority v Arch and Others. The case, brought by the Financial Conduct Authority on behalf of policyholders and joined by two intervening action groups, relates to the availability of business interruption cover for losses arising from the COVID-19 pandemic. The guidance provided by the court favours the majority (but not all) of the arguments put forward by the FCA, in a significant decision which could benefit some 370,000 policyholders. (See Article)

    Sep 17, 2020 6:32 AM

  • UK HR Solutions: How to deal with sickness absence

    Welcome to the next post in our weekly series of hands-on guidance for UK HR professionals. In this series we look at common HR issues that you’ll encounter in the workplace and give you practical guidance on how to deal with them. Over the course of the series we’re covering a variety of topics, such as how to handle grievances, disciplinaries, suspension, performance management and much more besides. This week we look at how to deal with sickness absence. Please see full Publication below for more information. (See Article)

    Sep 16, 2020 6:32 PM

  • European Union (Withdrawal Agreement) (Relevant International Agreements) (EU Exit) Regulations 2020

    The European Union (Withdrawal Agreement) (Relevant International Agreements) (EU Exit) Regulations 2020 were laid before Parliament on 15th September 2020. The Regulations amend the earlier Nuclear Safeguards (Fissionable Material and Relevant International Agreements) (EU Exit) Regulations 2019 to add the EU withdrawal agreement to the list of “relevant international agreements.” Details of the Regulations can be found here.

    Sep 16, 2020 9:45 AM

  • Management of Offenders (Scotland) Act 2019

    The Management of Offenders (Scotland) Act 2019 (Commencement No. 5 and Saving Provisions) Regulations 2020 come into force on 1st October 2020. The Regulations bring provisions of Parts 1, 3 and 4 of the Management of Offenders (Scotland) Act 2019 into force with savings on 1st October 2020. Details of the Regulations can be found here.

    Sep 16, 2020 9:09 AM

  • Guidance for UK Life Sciences Offered During End of Brexit Transition

    With the Brexit transition period ending on December 31st, the UK’s Medicines and Healthcare products Regulatory Agency (MHRA) is issuing guidance for the UK Life Science industry – including guidance on clinical trials, market authorizations, and manufacture and supply, among other areas. The guidance will apply from the start of 2021. Squire Patton Boggs’ Triage... (See Article)

    Sep 16, 2020 8:32 AM

  • Banking and finance regulatory news, September 2020 # 2

    Credit unions: PRA 2020 annual assessment of category 5 credit unions - The UK Prudential Regulation Authority (PRA) has updated its webpage on credit unions to publish letters sent to directors of category 5 credit unions, setting out the findings of its 2020 assessment of these firms. (See Article)

    Sep 16, 2020 8:32 AM

  • UK and Japan agree historic free trade agreement

    On 11 September 2020, the UK Government issued a press release stating that it had secured a free trade agreement with Japan. This is the UK’s first major trade deal as an independent trading nation and will increase trade with Japan by an estimated £15.2 billion. The UK Government states that UK businesses will benefit... (See Article)

    Sep 16, 2020 6:33 AM

  • The UK’s Supervisory Authority releases its Accountability Framework

    The UK’s Information Commissioner’s Office (“ICO”) published earlier this month its Accountability Framework, available here. The Accountability Framework is designed to assist companies demonstrate compliance with their accountability obligation under the General Data Protection Regulation (“GDPR”) and assess whether their current measures meet the ICO’s expectations. The Accountability Framework consists of ten categories where the... (See Article)

    Sep 16, 2020 6:33 AM

  • UK Real Estate Sector Update: Recovery Of Rental Arrears

    When considering options for the recovery of outstanding rent, landlords should remember that, in addition to recourse via an existing guarantor or a rent deposit, another avenue available to them in these challenging times is to pursue previous tenants or guarantors under a lease that has been assigned... (See Article)

    Sep 16, 2020 6:32 AM

  • UK Corporate Insolvency and Governance Act 2020 Brings Significant Changes to Law

    The Corporate Insolvency and Governance Act 2020 received royal assent on 25 June 2020. Many of the provisions of the act are based on the bill which was initially proposed pre-COVID-19, with a framework having been set out in August 2018. However, since the pandemic struck, new temporary provisions have been added to the act. The changes introduced in the act are the most significant changes in insolvency law since 2003, when the Enterprise Act legislation was introduced to revamp the administration process. The changes can be distinguished between those that are permanent and those that are temporary, and which have been introduced in response to the extraordinary consequences of the coronavirus. (See Article)

    Sep 16, 2020 6:32 AM

  • Important Arbitration Decision for Lenders

    Project Finance Lender Can Claim Directly Against State Under Investment Treaty - A recent decision of an arbitral tribunal constituted under the auspices of the International Centre for Settlement of Investment Disputes (ICSID) has opened the door for potential direct claims by project finance lenders against states in circumstances in which the projects they finance are adversely affected by state measures. In a decision rendered on August 20, 2020, the tribunal in Portigon AG v. Kingdom of Spain (ICSID Case No. ARB/17/15) held that project finance provided by Portigon, a German financial services company, qualified as an investment protected under the Energy Charter Treaty (ECT) and the ICSID Convention... (See Article)

    Sep 16, 2020 6:32 AM

  • Insurance regulatory news, September 2020 # 2

    COVID-19: business interruption insurance test case judgment due on 15 September 2020 - On 9 September 2020, the UK Financial Conduct Authority (FCA) updated its webpage on the High Court business interruption insurance test case to advise that the court has stated that the judgment will be handed down at 10.30am on 15 September 2020. (See Article)

    Sep 16, 2020 6:32 AM

  • Insolvency Act 1986 (HMRC Debts: Priority on Insolvency) Regulations 2020

    The Insolvency Act 1986 (HMRC Debts: Priority on Insolvency) Regulations 2020 come into force on 1st December 2020. The Finance Act 2020 amends the Insolvency Act 1986, the Bankruptcy (Scotland) Act 2016 and the Insolvency (Northern Ireland) Order 1989 to ensure certain debts such as relevant deductions owed to HMRC are preferential debts for insolvency purposes. The amounts are those in respect of value added tax or a relevant deduction. The 2020 Regulations specify certain deductions for this purpose. Details can be found here.

    Sep 15, 2020 8:48 AM

  • Wild Animals and Circuses (Wales) Act 2020

    The Wild Animals and Circuses (Wales) Act 2020 received Royal Assent on 7th September 2020. The Act makes it an offence to use wild animals in travelling circuses and also makes several changes to the licensing of circuses and dangerous wild animals. The full text of the Act can be found here.

    Sep 15, 2020 8:39 AM

  • UK End of Transition – Moves to Provide Clarity for Industry

    The work of UK health and regulatory authorities has mainly been targeted on COVID-19 work over recent months but there has been an increasing focus on End of Transition work in recent week’s and given that the Brexit transition period ends at 11pm on 31st December 2020 (GMT).  As part of this work, UK MHRA... (See Article)

    Sep 15, 2020 6:33 AM

  • UK is left out of EU cooperation on Foreign Direct Investment, and will soon be “foreign”

    The EU Regulation on Foreign Direct Investment (2019/452) (the “EU FDI Regulation”) will enter into force fully on October 11, 2020. Most notably, on this date, a cooperation and information sharing mechanism among Member States and the European Commission in respect of foreign direct investment (“FDI”) that has an ‘EU-dimension’ will come into effect. As... (See Article)

    Sep 15, 2020 6:33 AM

  • ICO Publishes Its Accountability Framework

    On September 9, 2020, the UK Information Commissioner's Office published an Accountability Framework, designed to assist organizations in complying with their accountability obligations under the EU General Data Protection Regulation. (See Article)

    Sep 15, 2020 6:33 AM