Cleveland & Co | External in-house counsel®

Jurisdiction

Europe

FCA digital regulatory reporting

by Emma Cleveland|5 September 2018|Industry News

The Financial Conduct Authority (“FCA”), together with the Bank of England (“BofE”) (together, the “Regulators”) are currently investigating how technology can be used to make it easier for firms to meet their regulatory reporting requirements and improve the quality of information they provide. Together, they hope to create a model driven and machine readable regulatory […]

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Are you looking for a fresh challenge?

by Emma Cleveland|22 August 2018|Our News

We are looking to expand our team and have three exciting opportunities: US qualified lawyer UK qualified lawyer (dual-qualification preferred, but not essential) Australian qualified lawyer Experience We are looking for candidates with in-house experience and an excellent knowledge of at least three of the following: investment advisory agreements; trading documentation; custody; administration; mutual funds; private […]

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PRA publishes a Dear CEO letter on crypto-assets

by Emma Cleveland|2 August 2018|Industry News

On 28 June 2018, the Prudential Regulations Authority (“PRA”) published a Dear CEO letter (the “Letter”) sent by its CEO, Sam Woods, to the CEOs of banks, insurance companies and designated investment firms to remind them of the relevant obligations under PRA rules, and to communicate the PRA’s expectations regarding firms’ exposure to crypto-assets. SUMMARY […]

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Bank of England prepares for BREXIT

by Emma Cleveland|26 July 2018|Industry News

On 27 June 2018 the Bank of England (the “BofE”) issued its approach (the “Approach”) to financial services legislation in preparation for Brexit. The Approach was released alongside a statement by the FCA in response to HM Treasury’s approach to financial services legislation under the European Union (Withdrawal) Act (the “Act”). The Approach sets out […]

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FCA issues a statement on BREXIT

by Emma Cleveland|26 July 2018|Industry News

On 27 June 2018 the FCA issued a statement (the “Statement”) about its role in preparing for Brexit. The Statement is in response to the announcement from HM Treasury on its approach to amending financial services legislation under the European Union (Withdrawal) Act (the “Act”), which can be found here. The Statement provides stakeholders with […]

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Supreme Court finds no oral variation clause effective

by Emma Cleveland|18 July 2018|Industry News

The Supreme Court recently confirmed in Rock Advertising (“Rock”) v MWB Business Exchange (“MWB”) that a contract containing a clause requiring amendments to be made in writing (otherwise known as a “no oral variations clause”) can validly prohibit any subsequent oral variations, restoring the previous County Court judgement which had been overruled by the Court […]

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Non-defaulting party not able to claim for loss of profits

by Emma Cleveland|4 July 2018|Industry News

The High Court has held that a supplier under a contract was not able to claim for loss of profits that arose when the other party to the contract repudiated it by refusing to carry on its obligations.[1]The claim arose out of outstanding invoices owed by the defendant (“FCAA”) to the claimant (“Motortrak”) under a […]

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Exclusive jurisdiction clause – a continuing obligation

by Emma Cleveland|26 June 2018|Industry News

In the recent case of AMT Futures (the “claimants”) v Boural & Ors[1]and others (the “defendants”), the High Court has given clarification on the continuing nature of obligations under an exclusive jurisdiction clause and the limitation period applicable in respect of claims for breach of such obligations. This is considered to be the first judgement giving […]

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