by Leela|23 April 2021|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 from two activities that the Defendants engaged in: the Company or Mr Maricar have, since […]
Read moreby Leela|22 April 2021|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 concerns and recommendations put forward by the previous reports on digital markets, naming […]
Read moreby Leela|20 April 2021|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 “Consultation”) to improve corporate transparency. The reforms aim to strengthen the UK’s position as […]
Read moreby Leela|16 April 2021|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. Misrepresentation claims of this sort have been a feature of the English litigation landscape for a number […]
Read moreby Leela|15 April 2021|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 Development Company (the “Subsidiary”, “SRDC”) in connection with the Subsidiary’s alleged pollution in the Niger Delta. The case is of […]
Read moreby Leela|12 April 2021|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 other categories of covered entities. At the start of February 2021, the European Securities and Markets Authority […]
Read moreby Leela|9 April 2021|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 of the Company (Mr Gilsenan) could purchase a minority shareholder’s (Mr […]
Read moreby Leela|8 April 2021|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 Directive (2014/65/EU) across the European Union (“EU”). In the announcement, ESMA stated that its guidelines on […]
Read moreby Leela|7 April 2021|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 Properties Ltd (“NDH”) took out a short-term loan facility, […]
Read moreby Leela|30 March 2021|Industry News
As concerns for environmental and social governance (“ESG”) increase, the European Union has introduced a new set of legislation to govern this new phenomenon. The EU Sustainable Finance Disclosure Regulation (“SFDR”) came into force on 10 March 2021 as a response to investors’ growing demands for clearer sustainability-related disclosure. As part of the EU’s wider […]
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