• New York Antwerp Rules – 2016 Approved

    The Comité Maritime International (CMI) adopted a new version of the York-Antwerp Rules (YAR) at their Conference in New York on Saturday 6th May.

  • Enterprise Act 2016 Update – Late Payment of Insurance Claims – 18 May 2016

    On 4 May 2016, the Enterprise Act 2016 was granted Royal Assent. The amendments that the Enterprise Act 2016 makes to the Insurance Act 2015 and the Limitation Act 1980 will come into force on 4 May 2017. As described in detail in our earlier updates (links to which are shown below[1]) the Enterprise Act […]

  • The Gherkin

    Finance Focus – Spring 2016

    Welcome to the Spring 2016 edition of Finance Focus, the e-update from Thomas Cooper’s Finance Group, in which you can review the latest legal developments in your area of finance and keep up to date with Thomas Cooper’s news and events. Click below to view each article separately Dispute Resolution in the Financial Services Sector […]

  • Data Subject Access Requests: can employers benefit by being disorganised?

    Data Subject Access Requests (“DSARs”) are an increasingly popular weapon wielded by disgruntled employees that wish to obtain copies of documents held by their employer …

  • Penalties

    An established rule of English laws Prohibits penalties, because It’s thought to be unfair, unjust In the world of commercial cut and-thrust To punish breach of contract worse Than needed to make good the purse Of the party innocent of the breach; The aim of the payment is not to teach A lesson to the […]

  • The Senior Managers Regime, Certification Regime, and Code of Conduct – increasing accountability for individuals and employment consequences in the banking sector

    On the 7 March 2016 the Senior Managers Regime (“SMR”) and Certification Regime were implemented by the Financial Conduct Authority (“FCA”) and Prudential Regulation Authority (“PRA”) to ensure that individuals are clearly allocated their responsibilities and can thus be held accountable for their actions in relations to regulated activities within ‘relevant firms’ (UK banks, building societies, credit unions and PRA designated investment firms, and branches of foreign banks operating in the UK). The conduct rules are an overarching framework of professional standards encompassing all persons operating within both regimes. These new rules and regimes will undoubtable raise employment and HR issues for those financial institutions and their employees.

  • Singapore Developments: Improving the Climate for Reciprocal Enforcement

    On 4 April 2016, the Choice of Court Agreements Bill 2016 (the ‘Bill’) was tabled in the Singaporean Parliament. If passed, it will implement the Hague Convention of 30 June 2005 on Choice of Court Agreements (the ‘Convention’).

  • The Gherkin

    Further consultation on Article 55 Contractual Bail-In

    We reported previously [http://www.thomascooperlaw.com/4323-2/] that the PRA was planning further consultation on amending its rules on Contractual Bail-in under Article 55 of the Bank Recovery and Resolution Directive (“BRRD”) where it would be impractical for financial institutions to comply.

  • The Gherkin

    Sovereign Lending: some distinguishing legal issues

    Lending to sovereign states, whether directly to state governments or to state-controlled entities, especially in emerging markets, presents a number of additional legal challenges and factors to be considered compared with corporate lending to private commercial enterprises in such countries.

  • Dispute Resolution in the Financial Services Sector – Best of Both Worlds?

    by Lisa Hillary, Alex Monk & Felicia Zeller  When it comes to dispute resolution, the courts are the traditional forum. Arbitration is an alternative to this; it allows the parties to agree to submit their disputes to be resolved privately by an independent third party tribunal instead. The main benefit of this is its flexibility: […]