Legal updates

5 April 2017

Companies and directors of larger companies face criminal prosecution and unlimited fines for non or misreporting of payment practices

On 6 April 2017, new criminal offences for companies and directors will be introduced when the Reporting on Payment Practices and Performance Regulations 2017 (“the Reporting Regulations”) come into effect. Similar Regulations relating to limited liability partnerships (LLPs) will also come into force. 

17 August 2016

FCA Calls for Input on Equity Crowdfunding Regulation

In February 2016, less than a year after raising £800,000 through an online crowdfunding platform, the claims management company, Rebus, went into administration.  This episode highlights the risks associated with equity crowdfunding and raises questions as to the extent of investor protection required. The FCA bolstered their rules protecting retail investors in October 2014. These rules are now being reviewed and the FCA has published a ‘Call for input’.  

22 June 2016

30th June 2016: Changes to the Companies House Filing Regime

With the UK’s membership of the EU hanging in the balance, directors and company secretaries may be forgiven for overlooking their company filing responsibilities. Nonetheless, businesses should be prepared for the changes being introduced by the Small Business, Enterprise and Employment Act 2015 (the “Act”) which come into force on 30th June 2016.  

Roberta Draper

6 June 2016

Data Protection: 5 Things SaaS Providers Should do Today

Rather than hosting and maintaining their own software, an increasing number of businesses are turning to software as a service (“SaaS”) providers who centrally host software and make it available to customers over the internet, usually for a subscription fee. The SaaS model often requires the customer to send personal data relating to its employees and clients to the SaaS provider. This can pose a significant data protection risk for both the customer and the provider. Below we provide 5 top tips on how SaaS providers can limit their liability whilst offering the customer comfort that their data is secure.

Andrew Solomon

18 April 2016

How will the Modern Slavery Act affect SMEs?

One year on from the Modern Slavery Act 2015 (the “Act”) receiving Royal Assent, businesses have recently started to publish their first Slavery and Human Trafficking Statements. Although the Act only explicitly applies to larger organisations, its effects are already being felt by small and medium sized enterprises (“SMEs”). 

Anthony Macpherson

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