Insights: Legal Updates - April 2018

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New rules for Authorised Fund Managers

Charles Proctor |

The Asset Management Market Study carried out by the Financial Conduct Authority (FCA) raised concerns about weak price competition and the ability of investors to seek the best value. Therefore the FCA has decided to introduce new rules and guidance applicable to authorised fund managers (AFMs) in respect of their management of authorised funds subject […]


The right to adjudicate – Interpretation of ‘excluded operations’

Oliver Tobin |

The Housing Grants, Construction and Regeneration Act 1996 (Act) grants the right to refer disputes relating to construction operations to adjudication.  However, a number of operations under section 105(2) of the Act are excluded from this right. The recent decision of the Technology and Construction Court (TCC) in Equitix v Bester[1] offers helpful guidance on […]


Is a UK parent liable for the conduct of its foreign subsidiary? (Update)

Frances Jenkins |

In the recent Court of Appeal judgment of Okpabi v Royal Dutch Shell Plc[1], the court examined the issue of whether there was an arguable case that Royal Dutch Shell (Shell), as the UK parent company of a Nigerian subsidiary, owed a duty of care to those affected by oil leaks from pipelines and associated […]


Victory for RBS in its long-running defence of Property Alliance Group’s high-stakes LIBOR claim

Alice Morrissey |

An appeal brought by property investment and development business Property Alliance Group Limited (PAG) in its long-running case against the Royal Bank of Scotland (RBS) has been dismissed by the Court of Appeal.  PAG was refused permission to appeal the decision to the Supreme Court, which brings to an end the first civil proceedings involving […]


When the architect gets carried away

Oliver Tobin |

What do you do when your architect designs something that is way beyond your budget? That was the issue in the recent case of Riva Properties v Foster + Partners. Oliver Tobin reports. A recent decision of the Technology and Construction Court (TCC) has considered the scope of an architect’s duty of care, specifically in […]


F&B legalities

Gavin Whitney |

Concessions, or F&B, sales remain a critical revenue-source for cinemas, and continue as both a dynamic and evolving marketplace. Indeed, may things yet turn full-circle, with outside concessionaries reoccupying traditional cinema lobby-space? With this prospect ever in mind, Fladgate LLP’s Gavin Whitney offers a reminder of some of the legalities governing the use of foyer-space […]


Two or more clients and the CDM Regulations

Ian Smith |

“It doesn’t take a genius to know that any organization thrives when it has two leaders. Go ahead; name a country that doesn’t have two presidents. A boat that sets sail without two captains. Where would Catholicism be without the Popes?” The Office, ‘The Promotion’ Many projects have various parties ‘for whom a project is […]


Post-termination payments and the importance of notice

Ian Smith |

Against the backdrop of Carillion, parties need to keep in mind issues of payment upon termination of a construction contract. A recent Court of Appeal decision has confirmed that section 111 of the Construction Act applies to payments due after termination of a contract. A party must give a pay less notice if it wants […]


Fintech quarterly round up: January – March 2018

Charles Proctor |

This quarterly round-up looks into some of the main regulatory developments and trends in fintech regulation during the first quarter of 2018. Moves to regulate The appetite of governments and supervisors to regulate the crypto-world is increasing and, although short-term the position remains uncertain, it is clear that regulation is on its way. Within the […]


The duty of a salesman

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On 5 December 2017, the High Court handed down its latest swaps mis-selling judgment in Marz Limited v Bank of Scotland Plc.   The decision confirmed a bank can exclude obligations by agreement and rejected the imposition of an “intermediate duty” on banks as a general principle. In 2008, the Bank of Scotland (the Bank) provided […]