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by Leela|7 May 2019|Industry News
The execution of contracts is a task often overlooked. Even after maximum effort has been exerted to negotiate a deal, and draft a contract, a slip at the final hurdle could cost millions. Mistakes in executing a contract particularly a deed, can result in: an unenforceable contract; a non-binding contract owing to consideration not being […]
Read moreby Leela|1 May 2019|Industry News
The Court of Appeal (the “Court”) held that the word “shall” did not automatically create a contractual obligation. The word “shall” is regularly used in everyday commercial contracts to impose a contractual obligation on a party to perform or refrain from performing certain actions. Other commonly used phrases such as “ensure” and “procure” are also […]
Read moreby Leela|18 April 2019|Industry News
On 17 April 2019, the FCA released its business plan for 2019/20 covering some of the following cross-sector priorities: EU withdrawal and international engagements; firms’ culture and governance; operational resilience; financial crime & AML; and innovation and data ethics. Furthermore, their business plan also focuses on a number of sector specific priorities, including those of […]
Read moreby Leela|4 April 2019|Industry News
Our Managing Director, Emma, was recently quoted in an Ignites Europe article talking about UK firms falling behind on senior managers regime implementation and how some firms are parking SMCR to the Summer so they can focus on Brexit preparations. Click here to read the full article!
Read moreby Leela|28 March 2019|Industry News
Below we set out recent developments in the cryptoasset space that we think may be of interest. A NEED FOR REGULATION 2018 was a year of international scrutiny for digital currencies. As regulators around the globe wake up to the potential dangers posed by new technology (now falling under the umbrella term of “cryptoassets”), pressure […]
Read moreby Leela|22 March 2019|Industry News
The recent case of Lehman Brothers Finance AG (in liquidation) (“LBF”) v Klaus Tschira Stiftung GmbH and Dr H C Tschira Beteiligungs GmbH & Co KG (the “Tschira Parties”)[2019] draws attention to the issue of the amount of discretion a non-defaulting party has when calculating loss under a 1992 ISDA Master Agreement. This is a […]
Read moreby Leela|15 March 2019|Industry News
The Financial Conduct Authority (“FCA”) confirmed in its Policy Statement PS 19/8 published on 12 March 2019 that the Financial Ombudsman Service (“FOS”) will soon be able to require financial services firms to pay double the current amount of compensation to consumers and businesses. The FCA is aware that there is a very short turn […]
Read moreby Leela|14 March 2019|Industry News
In February 2019, the Financial Conduct Authority (the “FCA”) published a second set of rules following the Asset Management Market Study (“AMMS”), the final report of which was published back in June 2017 (for a detailed analysis of the outcomes and remedies the AMMS, please click here to view our previous newsletter). The fundamental purpose […]
Read moreby Leela|6 March 2019|Industry News
In its recent decision in LBI EHF v Raiffeisen Bank International AG [2018],[1]the Court of Appeal confirmed that a non-defaulting party enjoys wide discretion under the default valuation provisions in the 2000 edition Global Master Repurchase Agreement (the “GMRA”) when it comes to determining the “fair market value” of securities, especially in a market that […]
Read moreby Caroline Sheldon|1 March 2019|Industry News
Given the continuing uncertainty surrounding the United Kingdom’s (the “UK”) departure from the European Union (“EU”), regulators and institutions on both sides of the channel have taken a range of initiatives in order to counteract the most dramatic consequences of the UK’s departure from the EU without a withdrawal agreement and implementation period (“no deal […]
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