Kavesseri Menon and Beena Menon –v- Nathan Pask and Rosalind Goode (as joint fixed charge Receivers) [2019] EWHC 2611(ch) Summary: The High Court recently provided much needed clarity on the previously unanswered question of whether Receivers ...

Summary The High Court has recently handed down its judgment in R (Critchley) v Financial Ombudsman Service and two others [2019] EWHC 3036 (Admin).  The applicant, Mrs Critchley sought to challenge FOS’s rejection of her PPI complaint on...

New dispute resolution service for SMEs Background In March 2018, UK Finance commissioned an independent review into the complaints and alternative dispute resolution landscape for the small and medium sized enterprises market in the UK.  An in...

Summary: The Supreme Court handed down its long anticipated judgment in the case of Travellers Insurance Company Limited v XYZ [2019] UKSC 48 on 31 October 2019. The appellant, Travelers Insurance Company Limited (“Travelers”) was succes...

On 20 December 2019, the Money Laundering and Terrorist Financing (Amendment) Regulations 2019 (“MLR 2019”) were laid before Parliament.  The MLR 2019 gives effect to the EU Fifth Money Laundering Directive[1]

In November 2019 the National Crime Agency (NCA) published its annual Suspicious Activity Reports (SAR) Report for 2018/2019 (the Annual Report). The Annual Report focused on the continued year-on-year uplift in the overall number of SARs, and in pa...

Jonathan Davidson, Executive Director of Supervision, Retail and Authorisations at the FCA, has written to CEOs of insurers concerning non-financial misconduct in wholesale general insurance firms. Davidson reminds firms of the FCA’s clear exp...

As part of the UK Governments’ ongoing programme to implement the European Union’s Fifth Money Laundering Directive (5MLD) in UK law, the FCA will begin supervising Anti Money Laundering and Countering Financing of Terrorism (AML/CFT) co...

1.       What is the Enforcement of Judgments Office? The Enforcement of Judgments Office (the “EJO”) is a public body responsible for enforcing judgments in Northern Ireland. This contrasts to the system in...

United Kingdom Independence Party Limited v Richard Braine and others [2019] EWHC 3527 (QB) Facts of the Case This decision relates to: 1. applications by the Claimant (“UKIP”) for orders (a) continuing until trial an interim non-disclos...

New dispute resolution service for SMEs In our last Complaint Handing Update, we set out information on a new independent organisation known as The Business Banking Resolution Service (BBRS) w...

Cuadrilla Bowland Ltd & Ors v Persons Unknown & Ors [2020] EWCA Civ 9 Background In Boyd v Ineos Upstream Ltd...

TBD (Owen Holland) Ltd v Simons & Ors [2020] EWHC 30 (Ch) Background A search order is one of the most draconian orders that the English courts can make, allowing an applicant – where there is a real possibility that a respondent may destroy o...

The FCA recently published a discussion paper on transforming culture in financial services. The paper is a collection of short essays by industry leaders, professional bodies and culture experts and is aimed at helping firms to develop and emb...

On Friday 20 March 2020 the FCA issued guidance to supplement the government’s recent pledges of support for mortgage customers.  In this article we: summarise the key guidance relating to payment holidays and repossessions highlight tha...

Unexpectedly, the Government has issued regulations which will require trustees to make further changes to their Statement of Investment Principles (SIP) from 1 October 2020. They will also require additional disclosures in relation to investment pr...

Trustees and providers of pension schemes face ever increasing and changing legal duties to have policies on and disclose how they deal with stewardship and environmental, social and governance (ESG) issues. This article pulls the new rules together...

On 10 June 2019, the Competition and Markets Authority (CMA) gave notice that it had made its Final Order following its market investigation into the investment consulting (IC) and fiduciary management (F...

On 10 June 2019, the Competition and Markets Authority (CMA) gave notice that it had made its Final Order following its market investigation into the investment consulting (IC) and fiduciary management (F...

It has been reported that on 27 June 2019, the Supreme Court denied the Government’s request for permission to appeal against the Court of Appeal’s decision in the cases of McCloud and Sargeant regardi...

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Eighteen months ago, the Government published a white paper on protecting DB pension schemes.  This was followed by consultations on a variety of matters, including a stronger Pensions Regulator, the introduction of collective defined contribut...

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The Government issued a consultation paper last week exploring how to improve the annual statement that all occupational and personal pension schemes are required to provide to DC members in order to increase member engagement and understanding. The...

Although it’s nearing Christmas, it’s not quite time for trustees and sponsors to down tools yet. There are still some things to think about this year and some key pensions dates in December. (And we’re not even talking about the g...

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The run-up to Christmas has seen a couple of important legal cases for pension schemes. Neither should spoil your Christmas celebrations, but they’re worth knowing about for 2020! Limits on PPF protection The European Court has reached a decis...

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In December 2019 the PPF published its final levy rules for 2020/21, together with accompanying documents. There are few changes to the rules compared to the previous levy year, and they are broadly in line with the proposals set out in the PPF’s co...

This speedbrief outlines the current state of play on some important issues relating to trusteeship, following on from the Pensions Regulator’s Future of trusteeship and governance consultation response this month and recent ind...

The Pensions Regulator has published the first of its long awaited consultations on a new DB Funding Code. This consultation covers the principles underpinning the Regulator’s approach. A second consultation will follow later in the ...

The speed and size of the impact of Covid-19 on the UK is stunning – we now see businesses closing, stock markets falling and much of the population staying at home. There’s so much to take in - this speedbrief will help you understand t...

The Pensions Regulator recognises that these are “unprecedented times” and that trustees and employers are facing significant and complex challenges across a range of issues including administration, investment, funding and employer cove...

Most people will be reluctant to consider the possible consequences for retirement, in respect of the COVID-19 outbreak. However, this is not justified. As more and more people in the Netherlands are becoming infected with the virus and are adv...

On Thursday 27 March, the UK Government released fuller details of the new Coronavirus Job Retention Scheme (or “Furlough Scheme”) first announced on Friday 20 March, with guidance being published for both employers and Full Article