Related insights: Financial Institutions

WBD advises on Northern Accelerator investment fund

06 Aug 2020
WBD has advised on the creation of Northern Accelerator's Seed Investment Fund. Northern Accelerator is an innovative collaboration between four universities in the North East of England and the seed investment fund, managed by Northstar Ventures, will back spin-out businesses in the region.
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Can former employees take your confidential information to their new job?

28 Jul 2020
When an individual moves to a new role, they take valuable skills and knowledge which they will use for the benefit of their new employer. Where this happens, particularly where an employee moves to a competitor, it can be difficult to draw a line between information that an employee can legitimately use in their new position as part of their own experience, and specific information which should not be disclosed even though the terms of their former employment contract have ceased to apply.
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FCA updates on Business Interruption Test Case

02 Jun 2020
We previously reported on FCA's intentions to bring a test case to obtain court declarations that would help resolve contractual uncertainty in several business interruption policies, stemming from claims relating to COVID-19. On 1 June, it confirmed the results of its enquiries to date, and its next steps.
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EU crowdfunding regulation – investor protection aspects

27 May 2020
In this article we consider the provisions that deal with ensuring investor protection, including examining who can invest on a crowdfunding platform, what standards apply to investor communications and marketing, what the pre-contract information requirements are and what the proposal says about investors who wish to cancel or sell their investments.
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Preservation is priority – a lesson in the execution of 'search' orders

13 May 2020
The High Court has reiterated that the primary aim of search orders is to preserve evidence, not to serve as some form of early disclosure. The High Court also chose to remind parties (and their representatives) that exceeding the permission given to them by these search orders, carries with it the risk of substantial penalties and severe consequences. In a recent case, it was held that the Claimant and its legal representatives, who pre-emptively searched seized material, without the Defendants' or the Court's permission, committed "serious and completely unjustified" breaches of the terms of the search order.
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EU crowdfunding regulation closer to agreement

06 May 2020
On 8 March 2018 the European Commission submitted a Proposal for a Regulation of the European Parliament and of the Council on European Crowdfunding Service Providers for Business. Now, two years later, the final compromise text has been published.
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FCA to seek Court clarity on BI insurance and impose customer protection measures

01 May 2020
FCA has announced today (1 May) its intention to obtain a court declaration on business interruption ("BI") insurance to resolve doubt for businesses who are facing uncertainty on their claims in the light of the ongoing problems resulting from COVID-19. Its decision comes in the light of continuing and widespread concerns about the lack of clarity and certainty for some customers making BI claims, and the basis on which some insurers are making their decisions on claims.