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Regulatory Blog

12 August 2022

Has the Supreme Court opened the gates to costs being awarded against regulators?

We previously covered this case, in which the Court of Appeal gave clear guidance as to circumstances in which a regulator can be ordered to pay costs. In short, the appeal arose from a decision by the CMA that Flynn Pharma and Pfizer had abused their dominant positions in the UK market by charging excessive prices for an epilepsy drug. Flynn Pharma and Pfizer appealed this decision to the Competition Appeals Tribunal (CAT), which found the CMA had erred in its assessment of abuse of dominant position. In respect of costs, the CAT adopted a starting point of “costs follow the event”, and decided that Flynn and Pfizer were entitled to recover some of their costs from the CMA.

Shannett Thompson

15 July 2022

AML update for legal practitioners and law firms – July 2022

This update covers recent developments relating to the regulation of money laundering in the legal sector and implications for legal practitioners and law firms. Specifically, four updates are explored. The first relates the SRA’s AML information-gathering exercise, undertaken as part of its role as anti-money laundering supervisor under the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017. Second, we look at HM Treasury’s response to its consultation on reform of the UK AML regime. Relevant changes emanating from this are expected to come into effect on 1 September 2022 by way of new secondary legislation entitled ‘The Money Laundering and Terrorist Financing (Amendment) (No. 2) Regulations 2022’. The third development concerns HM Treasury’s approval of the updated Legal Sector Affinity Group (LSAG) Guidance which was issued in 2021. Finally, and linked to this, two new LSAG Advisory Notes have been published which serve to clarify expectations of the Legal Sector Professional Body Supervisors, including those of the Solicitors Regulation Authority (SRA), in relation to particular topical areas of risk.

Julie Norris

28 June 2022

“Education, too?”: tips for investigating sexual allegations in schools and higher education settings

Worldwide the #MeToo movement continues to grow and shift. In the past 12 months alone, we have seen a marked rise in the number of reports being investigated by schools and tertiary education providers about allegations of sexual offences, harassment and abuse. It seems that these reports will only continue to grow as children and young adults become more equipped and confident to make reports of such conduct, with more platforms such as Everyone’s Invited (which reached its two-year anniversary this month) accessible for their voices to be heard.

Alfie Cranmer

25 April 2022

The Independent Regulator for English Football (IREF) is approved – but when is kick-off?

The Government has endorsed all the strategic recommendations set out in the fan-led review of football – paving the way for the establishment of an independent regulator for English football (IREF).

Alfie Cranmer

20 April 2022

Food Standards Agency tightens regulation of CBD food products

In a bid to better regulate the public sale of legal cannabidiol (CBD) ingestible products, the Food Standards Agency (FSA) has published a list of CBD food products that have been given the green light to remain on sale to the general public in England and Wales, at least for the time being. This is a significant development and places the UK as the first country in the world to regulate these products. In this blog, we take stock of this evolving regulatory landscape, the key events that have shaped and continue to shape it, and what this means for companies and individuals already in the industry, those considering entering it, and those considering investing in it.

Shannett Thompson

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