vLex United Kingdom

  • Joint trade associations letter to European Commission requesting extension of Brexit temporary equivalence for UK CCPs

    On 12 November 2019, the Association for Financial Markets in Europe (AFME) published a joint letter, in collaboration with 13 other trade associations, to the European Commission (Commission) on temporary equivalence and recognition in relation to UK central counterparties (CCPs). The decision to allow the European Securities and Market Authority (ESMA) to temporarily recognise UK... (See Article)

    Nov 15, 2019 9:32 AM

  • PRA publishes statement on French regulator’s response to EIOPA Brexit Recommendations

    On 12 November 2019, the Prudential Regulation Authority (PRA) published a response on its website to a statement from the Autorité de contrôle et de resolution (ACPR) in response to the EIOPA Recommendations for the insurance sector in the light of the UK withdrawal from the European Union. The responses of EU member states to... (See Article)

    Nov 15, 2019 7:33 AM

  • UK told about multiple EU illness clusters last year

    Public Health England was informed of multiple European clusters of illness last year including Listeria and Salmonella in the Czech Republic, according to a recent report. The report summarizes activities of the United Kingdom’s national reference laboratory (NRL) for food microbiology from April 2018 to March 2019. Public Health England (PHE) provides this NRL for... (See Article)

    Nov 15, 2019 7:33 AM

  • Next Steps for the Withdrawal Agreement Bill

    The first priority for the new Government, following the General Election on 12 December, is going to be Brexit. Whether to "get it done" for the Conservatives, "get it sorted" by renegotiating and holding a confirmatory vote for Labour, or to "stop Brexit" for the Liberal Democrats, Brexit will be top of the list because 31 January is a hard deadline. Any minority Government needs to agree its Brexit stance with its coalition partner or partners, and then put its position to Parliament. (See Article)

    Nov 15, 2019 7:32 AM

  • Halliburton v Chubb: The Future of Repeat Appointments

    The English Supreme Court (Lord Reed, Lord Hodge, Lady Black, Lord Lloyd-Jones, and Lady Arden) has finished hearing two days of submissions in the Halliburton Company v Chubb Bermuda Insurance Limited appeal.  The core issues are: (i) when should an arbitrator disclose circumstances which may give rise to justifiable doubts as to his impartiality and (ii) what are the consequences of failure to do so. (See Article)

    Nov 15, 2019 7:32 AM

  • ESOS Compliance Deadline Looms

    Organisations that qualify for Phase 2 of the Energy Savings Opportunity Scheme (“ESOS”) have until 5 December 2019 to complete ESOS assessments, have them signed off by a director and lead assessor and notify the regulator. ESOS Phase 2 has been on the horizon for some time now. (See Article)

    Nov 14, 2019 9:32 AM

  • A modern digitalised energy system

    The Government has set out a strategy that seeks to put the UK at the forefront of the industries of the future. In order to achieve this, it is focusing on "four grand challenges" – global trends it feels will transform our future. Data is fundamental to the future of our economy and is therefore at the heart of these grand challenges. As part of this strategy, the Government and Ofgem launched the Energy Data Taskforce (Taskforce) in October 2018. (See Article)

    Nov 14, 2019 9:32 AM

  • Notifiable events – what do employers need to tell the Pensions Regulator?

    The Pensions Regulator (TPR) is the body responsible for regulating workplace pension schemes in the UK. Where an employer operates a defined benefit trust-based pension scheme for its employees, legislation requires it to notify TPR if certain events occur. Some events must always be notified, while others only need to be notified in certain circumstances.... (See Article)

    Nov 14, 2019 7:33 AM

  • New Global Asset Management webinar: Europe – Member State domestic regimes

    In the second webinar of our global asset management series, our team from the UK, Germany, France, the Netherlands, Italy and Luxembourg provide their insight and views on their domestic regime’s approach to marketing, investors and structure. The webinar can be viewed here. For further information, please visit our Asset Management Regulation hub that houses... (See Article)

    Nov 14, 2019 7:33 AM

  • Which Legal Research Service Do Law Students Prefer? The Answer May Surprise You

    If you had to guess which legal research service law students prefer, you’d probably answer Westlaw. After all, back in the early days of legal research, West pioneered the idea of giving law students free access in the hope of creating career-long customers. But a survey published today finds that law students have a new favorite,... (See Article)

    Nov 14, 2019 7:33 AM

  • UK anti-money laundering authorities report record numbers of reports

    UK anti-money laundering (“AML”) authorities are receiving more Suspicious Activity Reports (“SARs”) than ever. The numbers of cases in which they are being asked to give clearance for transactions to proceed increased by over 50 per cent in 2018/19. These are the headlines emerging from the annual report of the UK Financial Intelligence Unit (“UKFIU”), the part of the UK National Crime Agency (“NCA”) responsible for receiving, analysing and acting upon SARs.  (See Article)

    Nov 14, 2019 7:32 AM

  • Major Limitation on Scope to Vary Planning Permissions

    The recent Court of Appeal decision in Finney v Welsh Ministers [2019] (All ER (D) 51 (Nov))  provides definitive authority on the inability to use section 73 to amend the description of a development on a planning permission. This has repercussions for planning applicants, local planning authorities, buyers seeking to acquire sites that are conditional on planning permission and also for objectors seeking to challenge section 73 permissions. (See Article)

    Nov 14, 2019 7:32 AM

  • UK green energy outlook

    In the first quarter of 2019, the amount of energy provided by renewable sources overtook fossil fuels in the UK. For the first time, the share of renewable energy (including solar, wind and renewable biomass plants) in the national grid hit 40 per cent, surpassing fossil fuels and nuclear sources. (See Article)

    Nov 14, 2019 7:32 AM

  • English High Court Confirms Costs Award Part and Parcel of Substantive Award

    The Court’s ruling supports the general principle that costs follow the event. In Andrew Martin, Nicholas Greene, Coban 2017 LLP (formerly named Strutt & Parker LLP) v. Michael Harris [2019] EWHC 2735 (Ch), the English High Court held that any arbitration award as to costs stood or fell with the substantive award. (See Article)

    Nov 14, 2019 7:32 AM

  • Report on Supply Chain Compliance Volume 2, Number 21: Latest Brexit news - November 2019

    Report on Supply Chain Compliance 2, no. 21 (November 7, 2019) - British Prime Minister Boris Johnson will hold a general election in December that will, hopefully, decide the course of Brexit once and for all. The election will pit Johnson, his Conservative Party, and their stance of a quick Brexit from Europe against Jeremy Corbyn and the Labour Party.... (See Article)

    Nov 14, 2019 7:32 AM

  • Extended tax liabilities for directors in insolvencies linked to tax avoidance

    Draft legislation included in the Finance Bill 2019-2020 will potentially make directors and certain other individuals closely connected to a company jointly and severally liable for a company’s tax liabilities that arise from avoidance, evasion or repeated insolvency and non-payment of tax debts or tax-related penalties of the company. (See Article)

    Nov 14, 2019 7:32 AM

  • UK Government Agrees Extension of Brexit Deadline With European Union

    The U.K. Government has published legislation extending the deadline for the U.K.'s withdrawal from the European Union, following an agreement reached with relevant European Union bodies on the extended Brexit deadline. The European Union (Withdrawal) Act 2018 (Exit Day) (Amendment) (No. 3) Regulations 2019 amend the day of the U.K.'s exit from the European Union from October 31, 2019 to January 31, 2020, granting the U.K. government an additional three months in which to ratify its proposed Brexit deal. (See Article)

    Nov 14, 2019 7:32 AM

  • New publication: UK financial services reporting: Trends and enforcement

    There has been a dramatic increase in regulatory reporting obligations, in step with an increase in investigations and enforcement actions. John Coley, Lisa Lee Lewis and Katie Stephen explore the risks and opportunities this creates for firms in the November 2019 issue of PLC magazine. You can access the publication on our webpage. (See Article)

    Nov 13, 2019 7:33 AM

  • UK Releases New Details on Net Zero Target Measures

    The announcements signal how both the Net Zero Review and the IETF will impact the UK’s transition to net zero. By Paul Davies and Michael Green On 2 November 2019, the UK government announced further details on two initiatives focused on helping the UK reach net zero greenhouse gas emissions by 2050. The first of... (See Article)

    Nov 13, 2019 7:33 AM

  • British Parliament Approves Regulations Extending Civil Partnerships to Opposite-Sex Couples

    Law & Religion UK reports that in Britain, the Civil Partnership (Opposite-sex Couples) Regulations 2019 were approved by the House of Commons on Oct. 31 and by the House of Lords on November 5. (See Article)

    Nov 13, 2019 7:33 AM

  • UK Supreme Court upholds first breach of Quincecare duty

    At the end of last month, the Supreme Court gave judgment in Singularis Holdings Limited (In Official Liquidation) v Daiwa Capital Markets Europe Ltd.This is the first case in which a bank has been held to have breached its Quincecare duty. Lady Hale gave the leading judgment, upholding the Court of Appeal decision given by Sir Geoffrey Vos. (See Article)

    Nov 13, 2019 7:32 AM

  • Changing Codes of Conduct

    In the first few days of October, the Market Research Society (MRS) and the National Association for College Admission Counseling (NACAC) both decided to change their codes of ethics, but for two very different reasons. (See Article)

    Nov 13, 2019 7:32 AM

  • Pensions: What's new this week - 11 November 2019

    Welcome to your weekly update from the Allen & Overy Pensions team, bringing you up to speed on the latest legal and regulatory developments in the world of occupational pensions.? Please see full article below for more information. (See Article)

    Nov 12, 2019 5:32 PM

  • Financial Services Duty of Care Bill to make no further progress

    On 8 November 2019, the UK Parliament updated its webpage on the Financial Services Duty of Care Bill 2019 (the Bill). Following the dissolution of the 2017-2019 Parliament, the Bill will make no further progress. For more information on the Bill, see our previous blog here. In October 2019, the FCA expressed its intentions to... (See Article)

    Nov 12, 2019 9:32 AM

  • Subcontracting without consent – when performance gets personal

    Restrictions on a contractor's rights to subcontract works are common across industry forms of contract, and breach of these provisions can have significant consequences for a contractor. In a recent Australian case, the court considered whether a contractor who had subcontracted services, in breach of a restriction in the main contract, was still entitled to payment for those services... (See Article)

    Nov 12, 2019 9:32 AM

  • United Kingdom Issues Revised Guidance on Taxation of Cryptocurrency

    The United Kingdom tax authority, HM Revenue & Customs (HMRC), has issued revised guidance regarding the tax treatment of cryptocurrency. Separate guidance has been published for individuals on the one hand, and businesses on the other. The revised guidance represents more of an elaboration of the basic principles set out in prior guidance than any significant change in HMRC’s approach to the taxation of the receipt and disposal of cryptoassets. (See Article)

    Nov 12, 2019 7:33 AM

  • ICO Wants to Hear Your Views on the Design of its New Accountability Toolkit

    In an October 28, 2019 blog post, Director for Regulatory Assurance, Ian Hulme, announced that the UK Information Commissioner’s Office (“ICO”) is developing a new ‘accountability toolkit’ which it plans to launch next year. The aim of the toolkit will be to support organisations in demonstrating their compliance with the ‘accountability principle’ under the GDPR[1].... (See Article)

    Nov 12, 2019 7:33 AM

  • UK Cannabis Market on the Brink of Change

    Those attempting to track the meandering Brexit trail in the three years since the referendum which decided that the United Kingdom (UK) would leave the European Union (EU) are well aware that the general election on 12 December most likely will determine the path forward. What that might mean for the cannabis market in the... (See Article)

    Nov 12, 2019 7:33 AM

  • Pension Alert - September 2019

    Hogan Lovells pension group is delighted to send you our November e-newsletter. Featured are points regarding the new investment legislation, latest Pensions Ombudsman cases and a High Court case regarding tax issues. Please see full Publication below for more information. (See Article)

    Nov 12, 2019 7:32 AM

  • UK Supreme Court Decides Former Unilever Employee Entitled to Compensation Under Patents Act 1977

    On 23 October 2019, the UK Supreme Court decided that Professor Ian Shanks, a former employee of Unilever UK Central Resources Ltd (“UCRL”), a wholly owned subsidiary of Unilever plc, was entitled to compensation under section 40 of the Patents Act 1977 (the “1977 Act”). This was because certain patents in relation to an invention developed by Professor Shanks were held to have been of outstanding benefit to his employer and he was entitled to a fair share of the benefit. The case considers important issues regarding when such compensation may be awarded and how compensation levels are decided. (See Article)

    Nov 12, 2019 7:32 AM