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Industry News

Post-Brexit privacy law updates

by Leela|19 January 2021|Industry News

UK-EU TRADE AGREEMENT ON DATA TRANSFERS The GDPR framework The European Union’s (“EU”) General Data Protection Regulation (“GDPR”), which applies in all EU and European Economic Area (“EEA”) Member States, governs the processing of personal data within the EU. While still a member of the EU and during the transition period after its formal withdrawal […]

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Case Law: Indemnities: Recent decisions by the high court

by Leela|15 December 2020|Industry News

2020 has seen numerous important decisions by the High Court (“the Court”) which clarify the law in relation to indemnities. In particular, the Court has confirmed its approach of interpreting indemnity clauses strictly, so as to give effect to the parties’ intentions. As a result, it is crucial to pay attention to the specific wording […]

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First decision on reflective loss after Marex

by Leela|25 November 2020|Industry News

Broadcasting Investment Group Ltd & Ors v Smith & Ors [2020] EWHC 2501 (Ch) (“Broadcasting”), is the first decision to consider the so-called “reflective loss” principle since the Supreme Court’s judgment in Sevilleja v Marex Financial Ltd [2020] UKSC 31 (“Marex”) earlier this year. In Broadcasting, the High Court followed the Supreme Court’s judgment and […]

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Force Majeure and MAC clauses in M&A contracts under the pandemic

by Leela|20 November 2020|Industry News

OVERVIEW The Covid-19 pandemic and consequent economic downturn have often made it difficult for companies to perform their contractual obligations, from making rent payments to shipping goods across borders. Many have attempted to rely on force majeure clauses to avoid liability. In general, force majeure arises when an event outside the control of the parties […]

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FCA publishes indicators of fitness and propriety under the senior managers and certification regime

by Leela|19 November 2020|Industry News

On 14 August 2020, the Financial Conduct Authority (“FCA”) published indicators to assess fitness and propriety under the Senior Managers & Certification Regime (“SM&CR”), which can be found here. These include positive and negative indicators which build on the previously limited guidance offered by the FCA for solo-regulated firms. Unlike the previous Approved Persons Regime […]

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Cleveland & Co quoted in an article by Ignites Europe talking about the new prudential regime for investment firms

by Leela|4 November 2020|Industry News

Carol Dratovsky Goes, Senior Associate at Cleveland & Co was recently quoted in an article, “UK funds fret over new prudential regime” by Ignites Europe talking about the new prudential regime for investment firms (“IFPR”) in the UK and the challenges faced by firms in preparation for its implementation! Check out the article on www.igniteseurope.com

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Do you need a European Representative?

by Leela|19 October 2020|Industry News

The Brexit transition period will come to an end on 31 December 2020. Once the United Kingdom (“UK”) officially leaves the European Union (“EU”), the UK will become a third country under the law of the European Union. Under EU law, a third country is a country or territory that is not a member of […]

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FCA consults on new rules to improve open-ended property fund structures

by Leela|16 October 2020|Industry News

Since 2017 the Financial Conduct Authority (the “FCA”) has been consulting on various proposals to reduce the potential for harm to investors from the liquidity mismatch in open-ended property funds (i.e. UK authorised funds that invest directly in property such as shops, warehouses or offices). In the FCA’s latest consultation paper (CP20/15) (the “Consultation”), it is […]

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