11 August 2015
Court confirms that libel is no longer actionable without proof of damage
In the recent case of BRUNO LACHAUX v INDEPENDENT PRINT LTD : BRUNO LACHAUX v EVENING STANDARD LTD : BRUNO LACHAUX v AOL (UK) LTD [2015] EWHC 2242 (QB), Justice Warby sitting in the High Court of Justice considered the meaning of the Defamation Act 2013 s.1(1), and confirmed that libel is no longer actionable without proof of damage. Where “serious harm” is found, the subsequent damage to reputation cannot be merely presumed but must be properly proven.
10 August 2015
FCA flexes competition muscles
As the Financial Conduct Authority’s newest board member, Christopher Woolard, Director of Strategy and Competition, announces forthcoming anti-trust action - Eve Giles looks at what this might mean for companies under the spotlight.
10 July 2015
FCA issue rules and guidance on bankers remuneration and clawback obligations
On 23 June 2015 the Financial Conduct Authority (FCA) issued their final rules and guidance to implement the proposals set out last year in their Consultation Paper in relation to remuneration. Whilst it is probably fair to say there were no huge surprises, these latest developments in the regulation of remuneration in the financial services sector form another milestone in the transformation of the regulatory regime which has been on-going since the financial crisis. According to the Treasury, Britain now has the toughest rules on bankers’ pay of any major financial centre. However, major questions remain unanswered, and bonus disputes appear inevitable once the new rules are applied in practice.
10 July 2015
Financial professionals: don’t bank on your bonus
On 23 June 2015, the FCA and PRA issued their final rules and guidance to implement the proposals set out last year in their Consultation Paper in relation to remuneration. These rules mean that Britain now has the toughest rules on bankers’ pay of any major financial centre. The new rules on deferral and clawback will apply to bonus awards for performance periods commencing on or after 1 January 2016, while various other rules and guidance became effective on 1 July 2015.
17 June 2015
Sentencing very large companies for environmental crimes – Fines equal to 100% of profit not unreasonable
The first case involving a very large organisation to come before the Court of Appeal since the implementation of new environmental sentencing guidelines, has confirmed that such offenders can now expect fines to run into several millions of pounds.