by Leela | 2021-04-28 | Industry News
On 2 August 2021, new pre-marketing rules in respect of alternative investment funds (“AIFs“) will come into force in the European Union (“EU”), via the EU Regulation 2019/1156 and the EU Directive 2019/1160 (the “Revised Rules”). The Revised Rules amend...
by Leela | 2021-04-23 | Industry News
At the end of March 2021, the FCA brought their case forward to the High Court against 24HR Trading Limited and Mr Maricar (the “Defendants”) in the case of Financial Conduct Authority v 24Hr Trading Academy Ltd [2021] EWHC648. The FCA’s claims arose...
by Leela | 2021-04-22 | Industry News
In response to the ever-evolving digital age, the way consumers shop and businesses compete are also rapidly changing. As such, the Competition and Markets Authority (“CMA”) had to reassess its approach to evaluating mergers in the digital market and also address the...
by Leela | 2021-04-20 | Industry News
The UK Government is launching a major overhaul of the UK’s audit regime to avoid company failures and safeguard British jobs. The Business Secretary is launching a consultation on wide-ranging reforms to modernise the UK’s audit and corporate governance regime (the...
by Leela | 2021-04-16 | Industry News
In prior English LIBOR cases, claimants have alleged that banks proposing financing products indexed to LIBOR or EURIBOR made representations (typically, implied) to the effect that they were not manipulating, and did not intend to manipulate, those rates....
by Leela | 2021-04-15 | Industry News
The Supreme Court recently handed down a decision on the high-profile jurisdictional challenge relating to group claims brought by two Nigerian communities (the “Okpabi”) against Royal Dutch Shell Plc (“RDS”) and its Nigerian subsidiary, Shell Petroleum...
by Leela | 2021-04-12 | Industry News
Product governance requirements were formally applied in the United Kingdom in 2018 through the FCA Handbook on product governance (“PROD”), which transposed the comparable MiFID II requirements into UK legislation. PROD applies to all MiFID investment firms, amongst...
by Leela | 2021-04-09 | Industry News
In the recent case of Re Euro Accessories Ltd [2021] EWHC 47, the High Court was required to interpret the articles of association of Euro Accessories Ltd (the “Company”) with respect to the meaning of “fair value” in the circumstances whereby the majority shareholder...
by Leela | 2021-04-08 | Industry News
At the start of February 2021, the European Securities and Markets Authority (“ESMA”) announced the launch of a common supervisory action (“CSA”) with national competent authorities (“NCAs”) on the application of product governance rules (“PROD”) under the MiFID II...
by Leela | 2021-04-07 | Industry News
The recent decision reached in NDH Properties Ltd v Lupton Fawcett LLP [2020] provides useful insight into whether a solicitor can owe a duty of care to the opposing party. THE FACTUAL BACKGROUND In May 2012, My Nayee, the sole director and majority shareholder of NDH...
