Bryan Cave Leighton Paisner (JD Supra United Kingdom)
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Coronavirus Act 2020 (England and Wales) Residential Tenancies - Protection From Eviction (June 2021)
What changed? At the start of the Covid-19 pandemic, the Government sought to ensure that renters, especially those who are vulnerable and on low-incomes, received the support they needed to see them through the pandemic, by imposing restrictions to ensure that they did not face the threat of eviction or homelessness as a result of the impact of coronavirus. These restrictions are...
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When Can You Argue Mitigation? CAT Rejects Supplier Mitigation Defence and Issues Guidance for Scope of Supplier Mitigation
A Competition Appeal Tribunal (CAT) judgment recently obtained by Royal Mail and BT has wide-ranging implications, not only for all competition follow-on damages claims but also many other forms of commercial damages claims. It sets out important guidance on the circumstances in which a defendant can plead that a claimant has mitigated its losses through negotiating lower costs with its suppliers,
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When can Insurers avoid for non-disclosure?
Since the Insurance Act 2015 (the “IA 2015”) came into force on 12 August 2016, the Courts have not been called upon yet to interpret its provisions. Jones v Zurich Insurance Plc handed down on 18 May 2021, considers the interpretation and application of certain provisions of the Consumer Insurance (Disclosure and Representations) Act 2012 (the “CIA 2012”), some of which are materially the same...
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(E)ESG - Why It Matters to Employment Experts
In our hyper-transparent and increasingly joined up world, the concepts of corporate social responsibility and socially responsible investing are gaining greater currency. Over the last decade, and catalysed by COVID-19 over the last year, Boards and General Counsel have focused on the role of ESG in driving responsible and sustainable business conduct approaches which acknowledge that the...
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FCA’s new rules on general insurance pricing practices
The FCA published today a collection of new ‘pricing practices’ rules for insurers and insurance distributors. Most headlines will be on the new price-walking prohibition for home and motor insurance, new rules on facilitating the cancellation of auto-renewing policies, and enhanced value measures reporting for home and motor insurance products.
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'Use it or lose it’ - haven’t we been here before?
Confirmation that the Government is examining new ways to increase build out rates could see the introduction of levies where planning permissions are not built out as expected. In this blog we remind ourselves that these ideas have been considered before and there were good reasons why they have not to date come to fruition.
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Great British Railways: The Williams-Shapps Plan for Rail - The numbers that tell the story
On 20 May 2021, the government published its white paper for the railways in Britain after an 18-month delay due to the pandemic - ‘Great British Railways: The Williams-Shapps Plan for Rail’ (the Plan). The government dubs it the biggest change to the railways in 25 years. The Plan promises 10 outcomes achieved through meeting 62 commitments. At this early stage, the BCLP rail team pick out...
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UK HR Two Minute Monthly: COVID-19 automatic unfair dismissal, re-engagement orders, direct sex discrimination and hybrid working
Our May 2021 update considers key employment law developments from April. It includes recent cases on automatic unfair dismissal in the context of serious and imminent danger arising out of COVID-19; when it is appropriate for a Tribunal to order re-engagement of dismissed employees; the correct comparator of a male employee on shared parental leave and hybrid working.
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Returning to the office: Key questions and answers for UK employers
As 21 June 2021 gets nearer, how are you going to manage the return to the office? Adam Lambert, Mark Kaye and Lydia Moore answer the key questions being asked by office-based businesses in the first in a series of regular updates on the topic. Please see full Publication below for more information.
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FCA consults on changes to Investment Research and Best Execution reporting
On 28 April 2021 the Financial Conduct Authority (FCA) published a consultation paper (CP 21/9) on proposed changes to its investment research rules and best execution reporting requirements. We discuss these proposed changes, their context and EU / MiFID II counterparts in this alert.
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FCA proposes new Consumer Duty - TCF with bigger teeth?
On 14 May 2021, the FCA published Consultation Paper CP21/13 outlining much-anticipated proposals relating to the standards expected of regulated firms to ensure the protection of retail consumers. The Consultation Paper follows a recently published speech given by Charles Randell, Chair of the FCA and PSR, in which Mr. Randell outlined changes required to transform regulation and reshape the FCA
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Act on it - the National Security and Investment Act 2021
The UK’s long-awaited National Security and Investment Act passed into law on 29 April 2021 when it received Royal Assent. Secondary legislation will follow and the regime is expected to be fully in force towards the end of the year.
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New residential planning application requirements for fire safety
A new requirement for Fire Statements to be submitted with certain planning applications for high rise residential buildings and for the HSE to be consulted on such applications is intended to take effect from 1 August 2021. The Building Safety Bill (“the Bill”) that was published last year and introduced to parliament in this week’s Queen’s speech will make substantial reforms to the UK’s...
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FCA consults on a new category of UK authorised open-ended fund to invest in illiquid assets: the Long Term Asset Fund (LTAF)
The FCA has launched its consultation (the Consultation), open for feedback until 25 June 2021, on a new category of authorised fund vehicle designed to accommodate investment in illiquid assets, the Long Term Asset Fund (LTAF). The LTAF rules embed longer redemption periods, greater disclosure requirements...
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Periodic Tenancies and Proprietary Estoppel: Not all smoke and mirrors
In Smoke Club Ltd and others v Network Rail Infrastructure Limited, the Upper Tribunal held that the claimants had an inferred periodic tenancy but no claim under proprietary estoppel. A lease of any kind was never agreed. However on the facts, none of the parties involved in negotiations had an objection on principle to a periodic tenancy and the tenants were clear that they would not accept a...
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Absolute Payment Obligations, Frustration & Stay of Execution - Latest Developments
In a decision handed down at the end of April, the Commercial Court, in Wilmington Trust SP Services (Dublin) Ltd and others v Spicejet Ltd [2021], has provided guidance on the English law doctrines of illegality and frustration. Whilst this specific dispute relates to overdue aircraft lease payments and particular government restrictions on the use of Boeing 737-Max 8 aircraft, the Court’s...
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Financial Services Act 2021 - changes to PDMR notifications
The Financial Services Act 2021 (the “Act”) has received Royal Assent and is now law. What does this mean for issuers?
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Pre-packaged administration sales to face greater scrutiny as new regulations come into effect
A new set of regulations known as the Administration (Restrictions on Disposal etc. to Connected Persons) Regulations 2021 (SI 2021/427) (the “Regulations”) came into effect on 30 April 2021. The Regulations contain numerous features which mean that pre-packaged administration sales (specifically to connected persons) will begin to face a greater level of independent scrutiny.
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What does the adoption of the London Plan mean for development of tall buildings in London?
Following Secretary of State intervention, the planning policy for tall buildings in the adopted version of the London Plan was changed to allow borough-level development plans to lead on the detail. What does this mean for developers and investors interested in tall buildings?
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UK Supreme Court’s decision on status of Uber drivers and its significance on gig economy
Over the past decade, the rapid technological advancement has led to the emergence of the so-called “gig economy”. This term often refers to a market system whereby platform companies engage temporary or freelance workers to perform “gig” work, often through digital platforms.
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No Place Like Home: Heightened risks for companies due to Covid-19 and remote working arrangements
As the COVID-19 pandemic evolves so, too, does the threat of economic crime. Recent reports into fraud since the start of the pandemic highlight the extent of this threat but also confirm that the banking and finance industry has worked hard thus far to combat it.
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Time to reconsider? Post-Brexit, now is a good opportunity for the finance sector to take a second look at the key benefits arbitration offers to resolve disputes
As we discussed in our It’s Good To Talk article as part of our Emerging Themes in Financial Regulation 2021 publication, many banks and financial institutions operating in the UK have historically tended to favour exclusive English Court jurisdiction clauses as their preferred dispute resolution method, particularly when facing EU-based counterparties, given the ease of enforcement through EU...
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New Criminal, Civil and Investigatory Powers for The Pensions Regulator
The Pension Schemes Act 2021 significantly augments the enforcement powers of the Pensions Regulator (“TPR”). The Act not only creates new criminal offences but also enables the regulator to make use of civil financial penalties and new powers of investigation.
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The FCA’s recent focus on diversity, inclusion and psychological safety
Two senior members of the FCA have recently delivered significant speeches on the importance of diversity and inclusion (“D&I”) in regulated firms and why this should be considered a regulatory issue. Whilst the importance of D&I has long been discussed and highlighted by the regulators, these two speeches mark a step change in the level of FCA focus on this area.
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UK Insurers Should Begin to Comply with New PRA Mandatory Contractual Requirements for Material Outsourcings
The PRA’s supervisory statement on outsourcing arrangements and managing third party risk requires insurers to take action now, to ensure that outsourcing agreements which are currently being negotiated comply with the new guidelines. On 31 March 2021 the PRA released a new supervisory statement relating to outsourcing arrangements and managing third party risk (“SS2/21”).
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UK HR Two Minute Monthly: TUPE transfers to multiple transferees, public interest test in whistleblowing cases and unfair dismissal
Our April 2021 update includes a case which signals a potentially significant change in approach to TUPE transfers involving multiple transferees. We also consider a recent whistleblowing case in which it was considered that a disclosure of information affecting only one person could nevertheless be in the ‘public interest’, and provide an update on other recent points of note.
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Economic Crime: the Crown Prosecution Service unveils its strategy
On 30 March 2021, the Crown Prosecution Service (CPS) published an overview of its strategy in relation to economic crime, outlining its high-level goals leading up to 2025. In it, the CPS ambitiously commits “to ensure the right person is prosecuted for the right offence in a timely manner, that victims and witnesses are at the heart of our casework and that any proceeds of crime are recovered”.
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Back to Life: Issues for UK employers as employees return to the workplace
At the time of writing, the Government has published its provisional roadmap out of lockdown and employers are beginning to consider when and how employees may return to the workplace. This article considers some potential options and possible risks relating to a return to work.
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Further consultation on Judicial Review reform - implications for Planning law claims
The Government has published its response to the Independent Review of Administrative Law (IRAL) that was launched in July 2020, which examined whether there is a need for reform of judicial review. No radical changes to the structure of judicial review are proposed, but the report does recommend and consult on two changes to the substantive law, some procedural changes and makes recommendations...
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Claims for overseas environmental harm and human rights infringements proceed in England against UK parent companies
Last month, the UK Supreme Court overturned the judgment of the Court of Appeal and allowed a claim for damages from claimants in the Niger Delta to proceed against Royal Dutch Shell plc and its local subsidiary Shell Petroleum Development Company of Nigeria Ltd. The principle that English courts will hear these overseas claims involving UK parent companies is now becoming established.