• JD Supra United Kingdom

Publisher:
JD Supra
Publication date:
2019-04-29

Latest documents

  • UK: FCA Release Finalised Guidance on General Insurance Distribution Chain (FG19/5)

    This week the FCA has published detailed finalised guidance setting out their expectations of insurance product manufacturers and distributors in relation to product value and distribution arrangements in general insurance.

  • UK CMA Continues to Pursue Penalties for Incomplete Document Production

    Decision highlights the need to coordinate document production in parallel cross-border merger control proceedings.
 
 Key Points:
 
 ..Heightened CMA use and enforcement of statutory requests for information call attention to the importance of effective and efficient document production processes in both Phase 1 and Phase 2 merger inquiries, given the increasing informational requirements of UK merger control review.
 
 ..The CMA’s increased willingness to penalise companies for procedural infringements underlines the importance of engaging early with competition agencies to define a detailed, but workable, methodology for document review and production, particularly in the context of parallel cross-border merger control proceedings.
 
 ..The CMA’s enforcement position arguably overlooks significant practical challenges that arise in coordinating large-scale document reviews across multiple jurisdictions, which are exacerbated where merging parties work with multiple local counsel or global agencies’ investigative timetables are not aligned.
 
 Please see full Alert below for more information.

  • Plus ça change… the SFO’s approach to Section 2 Interviews

    The approach of the Serious Fraud Office (the “SFO”) to compelled interviews is a longstanding source of frustration for criminal defence lawyers. The beginning of Lisa Osofsky’s tenure as Director and the introduction of updated guidance on compelled interviews provided some hope that the SFO’s stance may be softening. In practice, however, it seems that little has changed.

  • Vulnerable customers and financial services: what does the future hold?

    The fair treatment of vulnerable customers is a key priority for the FCA. It is an important topic not least because the FCA considers that half of UK adults (25.6 million people) display one or more characteristics of potential vulnerability.

  • Clarification of the Electronic Communications Code

    The first Court of Appeal decision on the new Electronic Communications Code (Code) has recently been handed down in the case of Cornerstone Telecommunications Infrastructure Limited v. Compton Beauchamp Estates Limited [2019] EWCA Civ 1755. Both landowners and operators will find the unanimous decision helpful as it clarifies a number of key aspects of the Code.

  • Telecoms operators do not have a choice between the Code and the 1954 Act on renewal of rights

    The Upper Tribunal has considered for the first time the relationship between the new Electronic Communications Code and the Landlord and Tenant Act 1954, ruling that an operator in occupation under a lease protected by the 1954 Act is not entitled to ask the Tribunal to impose Code rights.

  • UK ICO Provides Guidance On Processing Sensitive Information

    The United Kingdom's Information Commissioner's Office has updated its guidance on Special Category Data (Article 9 General Data Protection Regulation). Key takeaways:
 
 Genetic Data-
 Genetic analysis that includes enough genetic markers to be unique to an individual is personal data and special category genetic data, even if you have removed other names or identifiers.

  • Blockchain & Cryptocurrency Regulation 2020: United Kingdom

    Although still actively developing, current UK policy thinking in relation to cryptocurrencies was set out by the UK Cryptoassets Taskforce in its Final Report (the “Taskforce Report”), published in October 2018. The Taskforce Report identifies cryptocurrencies as a subset of the broader category ‘cryptoasset’. It defines the latter as “a cryptographically secured digital representation of value or contractual rights that uses some type of [distributed ledger technology] and can be transferred, stored or traded electronically”. Within this overarching category, the Taskforce Report identifies three sub-categories and offers the following (non-legislative) definitions... Originally published in GLI – Blockchain & Cryptocurrency Regulation 2020, 2nd Edition - November 2019. Please see full Publication below for more information.

  • ILPA model limited partnership agreement: attention turns to LP-favourable terms

    ILPA has recently published a model limited partnership agreement (LPA) that reflects preferred terms and practices for the LP community investing in private equity funds. The Model LPA conforms to ILPA Principles 3.0 (published earlier this year), and is part of ILPA’s Simplification Initiative, designed to streamline the negotiation process and reduce fund formation costs.

  • ESG due diligence

    Over the last 18 months, a raft of publicity has propelled environmental, social and governance (ESG) issues to the forefront of corporate thinking. Three sources of pressure are behind this: (1) from "below" i.e. civil society movements and evolving consumer behaviours; (2) from "within", driven by activist shareholders and socially conscious management teams; and (3) from "above", via the incremental advance of ESG regulation at national and supranational level. From an even wider perspective, these trends are part of a cross-sector realignment towards a greater understanding of the importance of ESG issues. Companies and shareholders are becoming increasingly aware of the role they have to play in issues ranging from mass-extinction and climate change to artificial intelligence and data privacy.

Featured documents

  • In Brief – UK Employment and HR Newsletter - Vol. 3, No. 2 Summer 2010

    In this summer issue of our employment and HR newsletter, we have reviewed recent case law. We summarise the key facts in bite size chunks and highlight how and why the cases are of interest to HR and those with responsibility for employment issues in the workplace.
 
 Please see full...

  • Good News, Bad News. The SAS Institute v. World Programming case and its effect on software copyright law

    Sometimes, it’s not what happens that’s important, but what happens next. A case in the English High Court has confirmed what the software industry has known for some time: that it is not copyright infringement in the UK merely to copy the functionality of a computer program. But the real...

  • Amendments to the Prospectus Directive

    On 11 December 2010, the final text of the Directive amending the Prospectus Directive and the Transparency Directive (the “Amending Directive”) was published in the Official Journal of the European Union (“EU”). The Amending Directive will come into force on 31 December 2010, and member states...

  • FSA Fines JJB Sports PLC for Disclosure Failings

    On January 25, the UK Financial Services Authority (FSA) issued a Final Notice to JJB Sports plc that detailed a fine of £455,000 (approximately $725,000). The FSA found that JJB had failed to disclose information to the market about the true cost of two acquisitions. These failings had led to a...

  • FSA and FRC Publish Feedback on the Role of Auditors

    On March 10, the UK Financial Services Authority (FSA) and the Financial Reporting Council (FRC) published a joint feedback statement, Enhancing the auditor's contribution to prudential regulation FS11/1, summarizing the responses to their June 2010 joint discussion paper, DP10/3, similarly titled.&...

  • Balance Sheet Insolvency: The Point of No Return

    The decision of the Court of Appeal in BNY Corporate Trustee Services Limited v Eurosail-UK 2007-3BL plc and others [2010] EWCA Civ 2007, is good news for distressed companies in need of some breathing space. In this case, the Court of Appeal held that the balance sheet test for insolvency is only...

  • Cookies Update: Consent Now Needed

    Introduction
 
 New rules on cookies came into force on 26 May 2011. Consent is now needed in relation to most cookies placed on a user’s PC (or mobile device) by UK websites. Similar rules are coming into force throughout Europe.
 
 Prior to this change, websites only had to tell...

  • 2010 Bribery Act: Commercial Applicability

    The Bribery Act 2010 (Act), heralded as the toughest anti-corruption legislation in the world, comes into force today in the United Kingdom. The Act is designed to address global bribery and to modernise the UK’s outdated, piecemeal anti-bribery legislation. The Act will be enforced against firms...

  • About Face: Lancôme's Airbrushed Makeup Ads Banned in the UK

    Makeup ads in the UK for products by L'Oreal have been banned after the U.K.'s Advertising Standards Authority ("ASA") deemed the airbrushing used in postproduction to be misleading to consumers.

 

 The ASA issued the ban after British Liberal Democrat politician, Jo...

  • FSA Obtains High Court Injunction Against Market Manipulation

    On September 1, the UK Financial Services Authority (FSA) announced that it had obtained an interim High Court injunction preventing a number of companies and individuals from market manipulating in respect of certain UK-listed shares.

 

 The FSA’s injunction was against Da Vinci...