News & Analysis as of

UK Consumer Rights Act

Financial institutions M&A trends: UK consumer credit - Growth in specialty finance, but payday lenders continue to experience...

by White & Case LLP on

Dealmaking across the UK consumer credit landscape varies materially. While deal volume in the specialty finance and market place lending space continues to remain high, by contrast, M&A activity in the payday lending space...more

Dealing on Written Standard Terms of Business—Guidance from the English Court of Appeal

The English Court of Appeal considers whether the use of model form agreements could constitute dealing “on written standard terms of business” The decision will give comfort to lenders who use precedents or model form...more

New competition class action regime off to a slow start

by Allen & Overy LLP on

The first ever application to create a class action under the Consumer Rights Act 2015 regime, in relation to anti-competitive conduct in the mobility scooter market, has been adjourned following faults found with the...more

Competition class actions off to a slow but steady start

by Allen & Overy LLP on

The first judgment on class certification for competition class actions has been issued by the Competition Appeal Tribunal. The judgment will reassure potential defendants, as the Tribunal demanded greater rigour from the...more

Lessons from the Competition Appeal Tribunal Hearings in Merricks v. MasterCard and Gibson v. Pride Mobility Scooters

by Reed Smith on

The UK held the first two hearings under its new opt-out class action procedure. The precise rules governing UK class actions will be developed over time from the general guidelines in the statute. There are significant...more

Trading under non-compliant consumer contracts: Implications for business

by DLA Piper on

The "Unfair Contract Terms Research" report dated 19 October 2016 produced by IFF Research is based on a study conducted on behalf of the Competition and Market Authority (CMA). It details various data indicating businesses'...more

Rail Passenger Rights Extended from 1 October 2016

by Dentons on

Introduction - On 6 September 2016, the UK government announced that the Consumer Rights Act 2015 (the Act) will apply in full to all mainline passenger rail services from 1 October 2016. This represents a...more

The transport sector and the Consumer Rights Act 2015

by DLA Piper on

While the majority of the Consumer Rights Act 2015 (CRA) came into force on 1 October 2015, the application of the CRA to certain contracts for travel by rail, air, sea and inland waterways was deferred until 1 October 2016....more

First Opt-Out Class Action Underway In The United Kingdom

On June 21, 2016, the United Kingdom Competition Appeal Tribunal (the “Tribunal”) published notice of an application to commence collective proceedings under Section 47B of the UK’s competition act. If this action continues,...more

Mobilising competition class actions in the UK

by Reed Smith on

On 25 May 2016, the National Pensioners Convention (NPC) issued formal proceedings at the Competition Appeals Tribunal (CAT) in London against Pride Mobility Products (Pride) on the grounds of anticompetitive conduct. This is...more

US Federal Deposit Insurance Corporation Chairman Gruenberg Discusses Resolution of Systemically Important Financial Institutions

by Shearman & Sterling LLP on

FDIC Chairman Martin Gruenberg discussed improvements in cross-border cooperation with respect to the resolution of systemically important financial institutions. He highlighted ongoing conversations among leading financial...more

Asset Finance & Leasing Newsletter

by Locke Lord LLP on

New GAP Insurance Rules - The FCA published new rules in June governing the sale of addon Guaranteed Asset Protection (GAP) insurance. The rules came into force on 1 September 2015 and apply to commercial customers as well...more

UK Financial Regulatory Developments - April 2016 #7

by Dentons on

PRA seeks views on equity release mortgages - PRA has issued a discussion paper seeking views on equity release mortgage valuation, capital treatment, risk management and associated matters. It is to consolidate views...more

Land Use Restrictions under the Spotlight

by Bryan Cave on

On 18 March 2016, the Competition Appeal Tribunal (CAT) published only the second case to be brought under the new fast track procedure before the CAT under the provisions of the Consumer Rights Act 2015. The fast track...more

Launch of First UK Opt-Out Class Action

by Shearman & Sterling LLP on

October 1, 2015, marked the entry into force of the Consumer Rights Act 2015 ("CRA"), bringing with it an opt-out class action regime for the private enforcement of infringements in competition law. Now, in March, 2016, the...more

Alert: You Can't Hide Behind Your EULA

by Cooley LLP on

Companies trying to shift liability for data breach by hiding catch-all exclusion clauses in End User Licence Agreements (EULAs) can learn from one company's latest antics. What's happened? At the end of last year,...more

UK Financial Regulatory Developments - January 2016 #13

by Dentons on

FCA reinstates unfair contract terms library - FCA has reinstated its unfair contract terms library, which it has reorganised in the light of the Consumer Rights Act (CRA) and CMA guidance. FCA does not intend to publish...more

UK Financial Regulatory Developments - January 2016 #12

by Dentons on

PRA has published a policy statement setting out: - feedback and links to final rules on engagement between external auditors and supervisors and giving PRA disciplinary powers over external auditors and actuaries...more

January 2016: U.K. Competition/Antitrust Litigation Update

The new Competition Appeal Tribunal Fast-Track Procedure for Small-and Medium-Sized Enterprises. On October 1, 2015, significant competition law reforms took effect in the United Kingdom under the Consumer Rights Act of 2015....more

Harmonizing B2C Online Sales of Goods and Digital Content in Europe

The European Commission has announced new draft laws that would give consumers new remedies where digital content supplied online is defective or not as described by the seller....more

The UK Consumer Rights Act 2015: A New Advance in Private Antitrust Enforcement

by McDermott Will & Emery on

On 1 October 2015 the UK Consumer Rights Act 2015 (CRA 2015) entered into force, bringing with it a raft of changes pertaining to consumer protection law and competition law litigation. These changes were discussed in an...more

International News: Focus on Tax - Issue 3, 2015

by McDermott Will & Emery on

The breadth of the articles contained in our Focus on Tax this issue demonstrates the perennial importance of this topic to global businesses and international high net worth individuals. We examine topics ranging from...more

SHE Matters: The Consumer Rights Act 2015

by DLA Piper on

This year has seen the advent of a key new piece of legislation, which has boosted the statutory rights of consumers in the UK. The Consumer Rights Act 2015 (Act), the main provisions of which entered into force on 1 October...more

Legal and regulatory update

by Dentons on

Consumer Rights Act - The main provisions of the Consumer Rights Act relating to goods, digital content, services and unfair contract terms and notices came into force on 1 October 2015. ...more

FOS publishes Ombudsman News

by Dentons on

The October 2015 issue of Ombudsman News includes complaints about life assurance and critical illness cover. FOS highlights the delicate considerations involved in such claims....more

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