United Kingdom

News & Analysis as of

Change to HM Treasury's policy in relation to receiving funds from an individual or entity subject to EU Sanctions

The UK HM Treasury (“HMT”) is changing its policy in relation to funds received in the UK that have come either directly or indirectly from an individual or entity outside of the EU that is subject to EU Sanctions (a...more

Regulation – a help or a hindrance to the UK shale industry?

DESPITE significant public opposition in the UK to hydraulic fracturing (fracking) and shale gas development, there has been a upswing of activity and announcements in the first half of 2014. In May, the British...more

Change In The Legal Climate: Budgeting And Project Management - Why budgeting and project management are more important than ever

The top three demands from chief legal officers, according to a 2013 survey by Altman Weil, are “more efficient project management,” “improved budget forecasting,” and “greater cost reduction” — all of which can be controlled...more

The Internet of Things: Ofcom call for input

Ofcom has issued a call for stakeholder input on the emerging Internet of Things. The Internet of Things describes the inter-connection of multiple “things”, be they devices or sensors, that are able to communicate and share...more

Arbitration update: English High Court finds enforceable, an agreement between parties to resolve disputes by “friendly...

On 1 July 2014 the Honourable Mr Justice Teare handed down an important judgment in the case of Emirates Trading Agency LLC v Prime Mineral Exports Private Limited [2014] EWHC 2104 (Comm) following an appeal by Emirates...more

UK Government Consults on Mandatory Supply of IT Services to Insolvent Customers

The UK Government has released a long awaited consultation document proposing new controls on IT suppliers’ dealings with customers facing insolvency. To a degree this brings the termination provisions of the UK’s...more

UK anti-piracy campaign set for launch

In an effort to combat digital piracy, the film and music industries have reached an agreement with the UK’s leading ISPs to launch the ‘Voluntary Copyright Alert Programme’ next year. The programme will send up to four...more

The TAKE OFF Campaign - Cavalli-er attitude or religious hyper-sensitivity?

There is a general rule that you don’t talk about sex, religion or politics at work. I did politics in my last Letter from Europe, and this time, I’m touching on the religious theme. (As I don’t think the firm would take...more

Global Boardroom Risk Solutions Newsletter

Now more than ever, there is a need for risk solutions in the boardroom. Any organization can be faced with a significant crisis, whether a fraud investigation, a regulatory infringement, allegations of anticompetitive...more

Community right to buy to be extended to urban areas Community Empowerment (Scotland) Bill introduced on 11 June 2014

In November 2013 the Scottish Government published a consultation paper to which was annexed a draft "Community Empowerment (Scotland) Bill". The consultation included proposals to extend the existing "community right to buy"...more

Update from UK Information Commissioner’s Office (ICO)

Will it happen? Well, “if it looks like a duck, swims like a duck and quacks like a duck then its probably a duck”. All the indications are that the Regulation will happen. We have to assume it will. This echoes the...more

Medical Devices: recent developments in the UK and the US

As it becomes harder for rights holders to control the flow of infringing medical products, Baker Botts’ Neil Coulson and Mark Whitaker review developing case law on both sides of the Atlantic. Whether a company...more

To enforce or not to enforce, a question for the English courts - July 2014

In the latest instalment of the Yukos v Rosneft saga (covered previously in our 2012 Alert), the English High Court considered whether an award set aside (annulled) at the seat of arbitration can nevertheless be enforced in...more

BVI publishes draft FATCA Guidance Notes

In the latest moves towards implementation of the FATCA Intergovernmental agreements (IGAs) signed by the BVI with the US and the UK, the BVI Government has released draft Guidance Notes for public consultation. A copy can be...more

U.K. Court Dismisses Retrocessionaire’s Defense In “Follow The Settlements” Dispute

A British retrocessionaire sued its retroceding reinsurer in a coverage dispute regarding the “follow the settlements” doctrine. The primary insurer at issue, ACE INA Overseas Insurance Company, insured Tesco, which operated...more

Property owners encouraged to act now to preserve real burdens

The purpose of this bulletin is to highlight the fact that certain real burdens will be automatically extinguished on 28 November 2014, unless action is taken by property owners to preserve them....more

UK Companies See The Value of The Code of Conduct As A Promotional Tool – Do You?

I came across this excellent article by The Red Flag Group called “Compliance Pulse: Codes of Conduct in the UK – A study of 100 codes of the largest companies listed on the London Stock Exchange.” The article outlines a...more

Obama Beefs Up Russian Sanctions, But Still No Full Monty

President Obama announced yesterday the creation of the new Sectoral Sanctions Identification List (“SSI List”) issued pursuant the Russian sanctions program and the addition of two Russian energy companies and two Russian...more

The Ropes Recap: Mergers & Acquisition Law News - Second Quarter 2014

In this issue: -Delaware Legislative Update -Delaware Supreme Court Upholds Facial Validity of Fee-Shifting Provisions in Bylaws of Delaware Non-Stock Corporation -News from the Courts: -Court...more

John Bell Hood and the Measurement of Conduct Risk

Readers of this blog know I am huge Civil War buff. Growing up in Texas, I only focused on the Southern side as a youngster and while this led to a sometime myopic view of events, in my mid-20s when I did begin to study the...more

English Contract Law: Has the Camel’s Nose of “Good Faith” Crept Under the Tent Flap?

Under the English Arbitration Act 1996 the grounds on which an English arbitration award can be challenged in court are very limited. Section 67 of the Act provides that a challenge may be brought on the basis that the...more

Defining, Enforcing and Preventing Conduct Risk

An international focus on defining, preventing, and understanding the concept of “conduct risk” has become problematic for financial services organisations in the UK and beyond—in part because the term is not yet clearly...more

Governance & Securities Law Focus: Asia Edition

In this issue: - ASIAN DEVELOPMENTS - HKEx Publishes Revised Connected Transaction Rules - US DEVELOPMENTS - SEC Developments - PCAOB Adopts Auditing Standard and Amendments -...more

The UK Bribery Act, Three Years On: Can We Relax Yet?

The Bribery Act 2010 has now been in force for three years. Despite the announcements and commentary that it heralded a new and aggressive face toward corporate corruption, there have as yet been no corporate prosecutions...more

Exchange – International Newsletter - Issue 23 – July 2014

DLA Piper’s Financial Services International Regulatory team welcomes you to the twenty-third edition of ‘Exchange – International’ – an international newsletter designed to keep you informed of regulatory developments in the...more

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