Podcast: An intersectional approach to gender equality
by Leela|29 June 2021|Our News
Listen to our very own Leela Fair featured on the The Law Society‘s podcast, speaking about Cleveland & Co‘s gender equality, linked below. Listen here.
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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 […]
Read moreFCA imposes requirements on principal firm
by Leela|21 June 2021|Industry News
On 24 May 2021 the Financial Conduct Authority (“FCA”) published a supervisory notice (the “Notice”) which it issued to Marshall Sterling Investment Management Ltd (“Marshall”) on 16 February 2021, which set out a number of requirements relating to their appointed representatives (“ARs”) as a result of concerns established by the FCA following its investigation into […]
Read moreAMEX fined by ICO for breach of PECR
by Leela|16 June 2021|Industry News
American Express Service Europe Limited (“Amex”) was fined a hefty £90,000 by the Information Commissioner’s Office (“ICO”) as a result of a “serious contravention” of regulation 22 of the Privacy and Electronic Communications (EC Directive) Regulations 2003 (SI 2003/2426) (“PECR”). WHAT IS PECR? PECR is a set of regulations in the United Kingdom (“UK“), which […]
Read moreFCA second consultation: implementation of the UK investment firms prudential regime
by Leela|15 June 2021|Industry News
SUMMARY AND KEY HIGHLIGHTS On 19 April 2021, the Financial Conduct Authority (“FCA”) published the second of three consultation papers on the implementation of the Investment Firms Prudential Regime (“IFPR”) (CP21/7). Key highlights detailed from the consultation paper, but not limited to, are: own funds requirements (such as the Fixed overheads Requirement (“FOR”) and the […]
Read moreFCA introduces new Consumer Duty
by Leela|9 June 2021|Industry News
On 14 May 2021, the Financial Conduct Authority (“FCA”) published a consultation on the introduction of a new “Consumer Duty” on firms providing financial services to consumers (the “Consultation”). The aim of this “Consumer Duty” is to set a higher expectation for the standard of care regulated firms owe to their consumers. As such, firms […]
Read moreWill the UK join the SPAC mania?
by Leela|7 June 2021|Industry News
Special purpose acquisition companies (“SPACs“) have experienced a surge in their popularity in the recent years. In the United States (“US“) market, SPACs have raised $83 billion (£63.5 billion) in 2020 and $88 billion (£63.1 billion) in the first quarter of 2021.[1] Whilst SPAC activity has been strong in the US for a number of […]
Read moreCase Law: Court’s ruling on headcount test used when approving schemes of arrangement
by Leela|1 June 2021|Industry News
The High Court was tasked to consider an application to grant an order to convene a shareholders’ meeting in consideration of whether to approve a scheme of arrangement in the recent case Re GW Pharmaceuticals Plc (2021) EWHC 716. SCHEME OF ARRANGEMENT In the UK, a scheme of arrangement (the “Scheme”) is a binding agreement […]
Read moreFCA strengthens rules on financial promotion
by Leela|27 May 2021|Industry News
The Financial Conduct Authority (“FCA”) has published its discussion paper DP21/1 regarding the strengthening of its financial promotion rules for high-risk investments and firms approving financial promotions. THE FAC’s WIDER INITIATIVES DP21/1 forms part of the response to the FCA’s wider call for input on consumer investments, which closed in December last year. According to […]
Read moreCase Law: Benchmarking clauses and market comparison
by Leela|26 May 2021|Industry News
The recent judgment in Travelport Ltd & Ors v WEX Inc [2020] EWHC shows how important it is to use precise language when drafting a clause involving a market comparison. In this judgment, the High Court was asked to analyse a complex “material adverse effect” (“MAE”) clause and, amongst other things, to consider the impact […]
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