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News & Insights

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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FCA approach to supervision and enforcement

by Emma Cleveland|7 June 2018|Industry News

Earlier this year, the FCA set out its ‘Approach to Supervision’ and ‘Approach to Enforcement’ (the “Documents”) to provide more clarity and detail around the FCA’s approach to regulating authorised firms. The Documents are part of a series planned by the FCA following on from the launch of their new mission statement in November 2016, in […]

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Trainee lawyers: are you looking for your next move?

by Emma Cleveland|7 June 2018|Our News

We are looking to expand our company and are passionate about attracting and retaining competent, experienced and talented professionals that believe in our values, are positive, love change, respect people, and take responsibility. Here are some of the qualities we look for in our team members: – positive attitude; – someone who is enthusiastic and […]

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Introducing ‘pre-marketing’ into AIFMD

by Emma Cleveland|5 June 2018|Our Thinking

After the Markets in Financial Instruments Directive II (“MiFID II”) and Packaged Retail Investment and Insurance Products (“PRIIPs”), the fund management sector will be turning its attention to the Alternative Investment Fund Manager Directive (“AIFMD”) in 2018. On 12 March 2018, the European Commission published a draft directive amending each of the AIFMD and Undertakings […]

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Cryptocurrencies and cryptocurrency funds

by Emma Cleveland|24 May 2018|Our Thinking

In recent years and, in particular, recent months, cryptocurrencies and cryptocurrency funds have exploded in terms of discussion and popularity. On Tuesday 28 November 2017, the value of a bitcoin reached $10,000 for the first time, marking an 850% increase from the start of 2017. Since then, there have been considerable fluctuations in the value […]

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Australia and the UK sign enhanced cooperation agreement on fintech

by Emma Cleveland|23 May 2018|Industry News

Australian and UK governments have signed an enhanced cooperation agreement (the “Enhanced Agreement”) on FinTech innovation. Under the new Enhanced Agreement the Australian Securities & Investment Commission (“ASIC”) and the Financial Conduct Authority (“FCA”) will continue to refer innovative FinTech businesses to each other for advice and support via their respective Innovation Hubs. The Innovation […]

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Conduct risks during equity fundraising process

by Emma Cleveland|20 May 2018|Our Thinking

The IOSCO has published a Consultation Report with the aim of proposing guidance to address the potential conflict of interest and associated conduct risks in the equity capital fundraising process. The Guidance reflects an expectation of high standards of conduct by market intermediaries and though it is not binding, IOSCO encourages its members to consider the […]

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