Related insights: Finance: Banking, Restructuring, Insolvency

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FCA unveils transformative business plan

20 Jul 2021
The FCA's business plan for 2021/22 marks the first for Nikhil Rathi since taking on the mantle of Chief Executive. In the speech given by Mr Rathi to launch the plan, he acknowledged the unprecedented challenges of the last 18 months but said that in order for the FCA to be an effective regulator it cannot simply respond to today's challenges – it must prepare for those of tomorrow.
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Case outcome relevant to SIPP providers, PI Insurers, FOS, PO and unregulated introducers - leave to appeal lodged at the Supreme Court

12 May 2021
In the past 15 years, SIPPs have become a more mainstream way for individuals to manage their own pension funds. The increase in SIPPs comes with an increase in claims made by consumers, including complaints made to the Financial Ombudsman (FOS) and Pensions Ombudsman (PO). This case will be of interest to SIPP providers, their professional indemnity insurers, the FOS and PO as it erodes some of the comfort provided in the previous High Court judgment about the nature and scope of duties owed by a SIPP provider.
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CVAs still in fashion as New Look successfully defends challenge

12 May 2021
In the hotly anticipated judgment of Mr Justice Zacaroli in the case of Lazari Properties 2 Limited and Ors and New Look Retailers Limited ("New Look") [2021] EWHC 1209 (Ch) New Look has successfully defended a challenge to its CVA on the grounds of jurisdiction, material irregularity and unfair prejudice. The judgment confirms once again that differential treatment of creditors does not on its own establish unfair prejudice but that it will be a matter for determination based on all the circumstances of the case.
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Financial Services Act: key changes before Royal Assent

06 May 2021
​​​​​​​Both core elements of the United Kingdom’s post-Brexit framework as well as some more political areas of concern are addressed in this wide-ranging piece of legislation. Emma Radmore and Lucy Hadrill discuss debates, changes and additions from the Bill as originally published.