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News & Analysis as of

January 2015: Insurance Litigation Update

Risk Developments in the U.S., UK, and Australia. We have recently had the opportunity to talk to liability insurers in the U.S., UK and Australia about risk developments in those jurisdictions. There are both surprising...more

Banking & Finance Litigation Update - Issue 82 (Global)

We wish to establish a dialogue with our readers.... The Banking & Finance Litigation Update is published monthly and covers current developments affecting the Group's area of practice and its clients during the preceding...more

SHE Matters - Winter 2014/2015

In This Issue: - Fee For Intervention – Is It Set To Stay? - How To Protect Brand Reputation And Sales From The Risks Associated With A Product Recall - Review Of The Proposed Changes In The Sentencing Of Health...more

A&O Decision Report: Upper Tribunal Upholds FCA's Findings That A Non-Executive Director Failed To Act With Integrity Due To Her...

In this report, Sarah Hitchins, an associate in Allen & Overy LLP's Banking, Finance and Regulatory Litigation Group, considers the decision of the Upper Tribunal (Tax and Chancery Chamber) (the Upper Tribunal) in which it...more

UK: Data Protection - Information Tribunal rule on FOIA exemptions concerning the Tate Gallery and BP

The First-tier Tribunal (Information Rights) has considered whether the Tate Gallery was exempt from disclosing information concerning sponsorship and meeting minutes to BP under sections 41(1) and 43(2) of the Freedom of...more

UK Electricity Market Reform: 2014 – a year in review

2014 was a year of considerable progress in terms of UK Electricity Market Reform (EMR), the cornerstone of the Government’s plans to reform the electricity sector. In this note (part 2 of a series) we outline key EMR...more

2015 Trends: #7 Crime and Punishment

On the accountability and punishment front, three trends bear watching: 1) Deferred Prosecution Agreements (DPAs) DPAs and Non-Prosecution Agreements (NPAs) allow prosecutors to require corporate reforms and...more

Distressed Debt - UK Tax Changes

We discuss below changes to UK tax law in respect of corporate debt which take effect from the beginning of this year which will improve the UK tax position for distressed debt of a UK company....more

Carbon Matters - Winter 2014/2015 (Global)

In This Issue: - EU Emissions Trading System - Surprise Agreement On The Road To Paris - Changes to climate change agreements on the horizon - Fracking – The Saga Goes On - In Brief - Excerpt from...more

Cybersecurity Risks Are Higher than Ever and Are Proving Costly

Cybersecurity is an increasing concern for companies. Last April, the UK Department for Business, Innovation & Skills (BIS) published the 2014 information security breaches survey: technical report. The report comprises the...more

Post-termination restrictions in a nutshell - to what extent will they protect your global business?

United Kingdom - In the UK, a contractual term restricting an employee's activities after termination of employment will be void for being in restraint of trade and contrary to public policy, unless the employer can...more

New year - New social media policy?

Game Retail Limited v Mr C Laws - In what is thought to be the first such case involving Twitter, the Employment Appeal Tribunal has overturned an Employment Judge’s decision that an employee was unfairly dismissed...more

FCA to Regulate Seven Additional Financial Benchmarks

On December 22, 2014, the UK Financial Conduct Authority (FCA) issued a consultation paper with respect to extending the FCA’s regulation of the London Interbank Offered Rate (LIBOR) benchmark to seven additional major...more

A “Pivotal Time” for the UK Serious Fraud Office: SFO Secures First Convictions Against Individuals and a Corporation for Bribery...

In December 2014, the U.K. Serious Fraud Office (“SFO”) secured its first criminal convictions against a number of individuals for offenses under the Bribery Act 2010 (the “Act”) and, in a separate case, a corporation for...more

Credit Crunch Digest - December 2014

This issue of the Credit Crunch Digest focuses on Libor civil penalties; three former ICAP brokers pleading not guilty to criminal Libor charges; a large whistle-blower award to a former Countrywide Financial Corp. executive;...more

Be careful what you wish for – new rules for company takeovers

On 15 September 2014, the Code Committee of the Takeover Panel issued Consultation Paper PCP 2014/2 (the “Consultation”). The Consultation suggested various changes to the Takeover Code (the “Code”) to deal with the treatment...more

Justice Department Files First FCPA Case of 2015, Reminds Lawyers to Watch Out

Last week, the Justice Department filed the first FCPA case of 2015 when it indicted Dmitrij Harder, the former owner and president the Chestnut Consulting Group in Huntingdon Valley, Pa. ...more

Alert: The Regulation of Virtual, Digital and Crypto-currencies

There are more than 6004 virtual currencies in use around the world today. Bitcoin is one of the best known and most widely used in Europe and North America. ...more

Financial Regulatory Developments Focus - January 2015

In this issue: - Bank Prudential Regulation & Regulatory Capital - Bank Structural Reform - Credit Ratings - Derivatives - Enforcement - Financial Services - Recovery &...more

UK DfT Announces £25 Million In Funding For Advanced Biofuel Plants

The United Kingdom (UK) Department for Transport (DfT) announced the launch of a £25 million competition for funding to build advanced biofuel plants. The funding will eventually lead to the construction of up to three...more

FCA Publishes New Reporting Requirements for Extractive Industries

The requirements mandate that UK-listed companies that operate in the extractive industries sector make public disclosures relating to payments made to governments....more

Former Senior Executives Of Insurance Retailer Fined And Prohibited As A Result Of The Development Of A Sales Strategy That...

In this case report we consider enforcement action taken by the FCA in relation to three former senior executives of a large retail insurance firm (the former Chief Executive, Finance Director and Marketing Director). This...more

U.K. Court Approves Insurance Business Transfer Scheme

A court in the United Kingdom has approved the transfer of the entire long-term insurance business of Prudential Annuities Limited (PAL) to The Prudential Assurance Company Limited (PAC). The transfer’s purpose was to...more

UK: New Copywatch Compliance Website launched

Copywatch, the compliance arm of the Copyright Licensing Agency (CLA) has been given a revamp, complete with new-look website, with the intention of simplifying compliance in the workplace. The refreshed site also highlights...more

Sports, Media and Entertainment Intelligence - January 2015 (Global)

UK: World Anti-Doping Agency announce collaboration with Pfizer - On 3 December 2014, the World Anti-Doping Agency announced a global collaboration agreement with American pharmaceutical corporation Pfizer Inc, aimed at...more

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