Tag Archives: UK

UK Insurance Act Receives Royal Assent

royal assent

The Insurance Act 2015 received royal assent on 12th February 2015. The Act, which I described as the “the most profound shift in UK commercial insurance law ever,”  introduces key changes to the duty of disclosure in commercial insurance contracts … Continue reading →

Not Such Good News For Rogue Directors After All

ace up sleeve

Usually, I report on developments (good, bad or indifferent) for honest directors of companies doing their best to avoid personal liability. Until very recently, it seemed there was good news just round the corner for rogue directors seeking to avoid … Continue reading →

Doing Your Incompetent Best as a Director May Still Be an Effective Defence

blindfolded biz person

For me, there was one memorable phrase to emerge from the celebrated (at least in off shore fund management circles) 2011 Cayman Islands Grand Court case of  Weavering Macro Fixed Income Fund Limited (In Liquidation) v. Stefan Peterson and Hans … Continue reading →

So You Think You are a Non-Executive Director?

two directors

We all think we know the difference between an executive and a non-executive director – right? After all, an executive director has executive powers and functions and usually a contract of employment whereas a non-executive director does not. Continue reading →

The Relationship Between Regulation and Corporate Culture

corporate culture

The Financial Conduct Authority (FCA), formerly the Financial Services Authority, holds an Enforcement Conference every two years. The latest one, last month, was the first one under the new FCA regime. Continue reading →

The SFO Secures its First Bribery Act Convictions: Watershed or Damp Squib?

behind bars

It’s been a long time coming but the SFO have at last succeeded in securing its first convictions under the Bribery Act which came into force over three years ago. Given that the Act, by common consent, contains some of … Continue reading →

Real Estate and the Treasury’s Revised Funding Proposals for Pool Re

London cityscape

Commentators initially thought the UK Government’s revised funding proposals for Pool Re would have a significant effect on the provision of terrorism insurance in the UK, however a review of the detail indicates that there may not be any notable … Continue reading →

Redressing the Balance Between the Insurer and the Insured

balance

In January 2006, the Law Commission and the Scottish Law Commission — both statutory independent bodies created to keep the law under review and to recommend reform where it is needed — began a joint review of insurance contract law. Continue reading →

Misuse Confidential Information and Risk a Significant Payment

stealing secrets

A recent decision of the English High Court found Barclays Bank liable to pay damages of €10 million to CF Partners for breaching an equitable duty of confidence. The Court held that the bank had misused confidential information, supplied by … Continue reading →

More Regulations: Just When You Thought It Was Safe to Come Out…

open_book

The UK’s Financial Reporting Council (FRC) has recently published an updated version of the Combined Code on Corporate Governance in the UK. It will apply to companies with reporting periods commencing on or after 1st October 2014. Continue reading →