Industry News

Cleveland & Co featured in The History of Parliament Trust book on British leadership and innovation

by Leela|25 August 2021|Industry News

Cleveland & Co are delighted to be featured in the chapter dedicated to Women in Leadership of the official History of Parliament Trust publication entitled ‘300 Years of Leadership and Innovation’, which celebrates socially conscious and ethical leaders and Her Majesty The Queen’s life’s work as one of our greatest female leaders. As a specialist […]

Case Law: Do UK businesses need to appoint an EU data protection representative?

by Leela|12 August 2021|Industry News

The Dutch Data Protection Authority (the “DPA”) has recently imposed a fine of €525,000 on Locatefamily.com (“Locate Family”) following its failure to appoint a European Union (“EU”) data representative. The failure has led to a delay in mitigating a breach under the General Data Protection Regulation (“GDPR”). This was the first enforcement taken by the […]

European Commission fines investment banks for collusive behaviour involving government bonds cartel

by Leela|4 August 2021|Industry News

SUMMARY AND KEY HIGHLIGHTS On 20 May 2021, the European Commission (“EC”) announced that it has decided that Bank of America, Natixis, Nomura, RBS (now NatWest), UBS, UniCredit and WestLB (now Portigon) (the “Investment Banks“) have all breached EU antitrust rules of the Treaty on the Functioning of the European Union (“TFEU”) [1]. According to […]

ESMA guidelines for funds’ marketing communications

by Leela|22 July 2021|Industry News

Earlier this year, the European Securities and Markets Authority (“ESMA”) published its final report, ESMA34-45-1244, (the “Final Report”) relating to guidelines on the requirements for marketing communications sent to investors (the “Guidelines”), supplementing the Directive on cross-border distribution of collective investment undertakings (EU) 2019/1160) (the “Regulation”), and capturing the following vehicles: alternative investment funds (“AIFs”); European […]

Case Law: Allotment of shares: allotments at a discount and prohibited commissions

by Leela|21 July 2021|Industry News

The Court of Appeal’s decision in Chalcot Training Ltd (the “Company”) v Ralph (“Ralph”) [2021] is the first appellate decision on the allotment of shares at a discount under section 580 and the prohibition of commissions, discounts and allowances under section 552 of the Companies Act 2006 (the “Act”). As such this judgment, coupled with […]

New tougher measures in the UK’s modern slavery act 2015

by Leela|20 July 2021|Industry News

The UK Government (the “Government”) has recently brought in new measures to the House of Lords and House of Commons in order to enact them as law under the Modern Slavery Act 2015 (the “MSA”). These proposed changes would affect large businesses and public bodies, placing requirements on them to take active steps against modern […]

Webinar: Special purpose acquisition companies (“SPAC’s”): everything you need to know in 10 minutes!

by Leela|14 July 2021|Industry News

Ever wonder what a Special Purpose Acquisition Company (SPAC) is and what are the regulatory requirements around setting one up? Take a look at our webinar to find out how you can use SPAC to raise capital.

Case Law: permission to appeal rejected- firm remains accountable for providing advice without authorisation

by Leela|12 July 2021|Industry News

In Financial Conduct Authority (the “FCA”) v 24hr Trading Academy Ltd (the “24HTA”) and another [2021] EWHC648, the Court of Appeal recently refused an application for permission to appeal, meaning that 24HTA cannot take this matter further to the Supreme Court, which subsequently brings this case to a close. BACKGROUND The High Court found that […]

FCA Proposals for change: Improving diversity and inclusion

by Leela|30 June 2021|Industry News

SUMMARY AND KEY HIGHLIGHTS The Financial Conduct Authority (“FCA”) has recently announced that financial companies in the UK are facing a regulatory crackdown unless they improve diversity standards on their board of directors and amongst their employees. The regulatory body has stated that it is considering making it a requirement for companies who wish to […]

Case Law: Termination of IT contracts

by Leela|22 June 2021|Industry News

The Technology and Construction Court has recently handed down 754 pages worth of judgment in the case of CIS General Insurance Limited v IBM United Kingdom Limited (2021), following just over a month-long hearing. The judgment addressed a number of topics that are useful to consider when drafting IT contracts. BACKGROUND IBM United Kingdom Limited […]