In the latest edition of our "Barker's Dozen" 13-minute pensions podcast series, François Barker and two partners explore the coronavirus outbreak and its implications for UK pensions. We will follow this podcast with a series ...
On Thursday 27 March, the UK Government released fuller details of the new Coronavirus Job Retention Scheme (or “Furlough Scheme”) first announced on Friday 20 March, with guidance being published for both employers and View Details..
Most people will be reluctant to consider the possible consequences for retirement, in respect of the COVID-19 outbreak. However, this is not justified. As more and more people in the Netherlands are becoming infected with the virus and are adv...
The Pensions Regulator recognises that these are “unprecedented times” and that trustees and employers are facing significant and complex challenges across a range of issues including administration, investment, funding and employer cove...
The speed and size of the impact of Covid-19 on the UK is stunning – we now see businesses closing, stock markets falling and much of the population staying at home. There’s so much to take in - this speedbrief will help you understand t...
The Pensions Regulator has published the first of its long awaited consultations on a new DB Funding Code. This consultation covers the principles underpinning the Regulator’s approach. A second consultation will follow later in the ...
This speedbrief outlines the current state of play on some important issues relating to trusteeship, following on from the Pensions Regulator’s Future of trusteeship and governance consultation response this month and recent ind...
In December 2019 the PPF published its final levy rules for 2020/21, together with accompanying documents. There are few changes to the rules compared to the previous levy year, and they are broadly in line with the proposals set out in the PPFs co...
The run-up to Christmas has seen a couple of important legal cases for pension schemes. Neither should spoil your Christmas celebrations, but they’re worth knowing about for 2020! Limits on PPF protection The European Court has reached a decis...
Although it’s nearing Christmas, it’s not quite time for trustees and sponsors to down tools yet. There are still some things to think about this year and some key pensions dates in December. (And we’re not even talking about the g...
The Government issued a consultation paper last week exploring how to improve the annual statement that all occupational and personal pension schemes are required to provide to DC members in order to increase member engagement and understanding. The...
Eighteen months ago, the Government published a white paper on protecting DB pension schemes. This was followed by consultations on a variety of matters, including a stronger Pensions Regulator, the introduction of collective defined contribut...
It has been reported that on 27 June 2019, the Supreme Court denied the Government’s request for permission to appeal against the Court of Appeal’s decision in the cases of McCloud and Sargeant regardi...
On 10 June 2019, the Competition and Markets Authority (CMA) gave notice that it had made its Final Order following its market investigation into the investment consulting (IC) and fiduciary management (F...
On 10 June 2019, the Competition and Markets Authority (CMA) gave notice that it had made its Final Order following its market investigation into the investment consulting (IC) and fiduciary management (F...
Trustees and providers of pension schemes face ever increasing and changing legal duties to have policies on and disclose how they deal with stewardship and environmental, social and governance (ESG) issues. This article pulls the new rules together...
Unexpectedly, the Government has issued regulations which will require trustees to make further changes to their Statement of Investment Principles (SIP) from 1 October 2020. They will also require additional disclosures in relation to investment pr...
On Friday 20 March 2020 the FCA issued guidance to supplement the government’s recent pledges of support for mortgage customers. In this article we: summarise the key guidance relating to payment holidays and repossessions highlight tha...
The FCA recently published a discussion paper on transforming culture in financial services. The paper is a collection of short essays by industry leaders, professional bodies and culture experts and is aimed at helping firms to develop and emb...
TBD (Owen Holland) Ltd v Simons & Ors [2020] EWHC 30 (Ch) Background A search order is one of the most draconian orders that the English courts can make, allowing an applicant where there is a real possibility that a respondent may destroy o...
Cuadrilla Bowland Ltd & Ors v Persons Unknown & Ors [2020] EWCA Civ 9 Background In Boyd v Ineos Upstream Ltd...
New dispute resolution service for SMEs In our last Complaint Handing Update, we set out information on a new independent organisation known as The Business Banking Resolution Service (BBRS) w...
United Kingdom Independence Party Limited v Richard Braine and others [2019] EWHC 3527 (QB) Facts of the Case This decision relates to: 1. applications by the Claimant (“UKIP”) for orders (a) continuing until trial an interim non-disclos...
1. What is the Enforcement of Judgments Office? The Enforcement of Judgments Office (the “EJO”) is a public body responsible for enforcing judgments in Northern Ireland. This contrasts to the system in...
As part of the UK Governments’ ongoing programme to implement the European Union’s Fifth Money Laundering Directive (5MLD) in UK law, the FCA will begin supervising Anti Money Laundering and Countering Financing of Terrorism (AML/CFT) co...
Jonathan Davidson, Executive Director of Supervision, Retail and Authorisations at the FCA, has written to CEOs of insurers concerning non-financial misconduct in wholesale general insurance firms. Davidson reminds firms of the FCA’s clear exp...
In November 2019 the National Crime Agency (NCA) published its annual Suspicious Activity Reports (SAR) Report for 2018/2019 (the Annual Report). The Annual Report focused on the continued year-on-year uplift in the overall number of SARs, and in pa...
On 20 December 2019, the Money Laundering and Terrorist Financing (Amendment) Regulations 2019 (“MLR 2019”) were laid before Parliament. The MLR 2019 gives effect to the EU Fifth Money Laundering Directive[1]
Summary: The Supreme Court handed down its long anticipated judgment in the case of Travellers Insurance Company Limited v XYZ [2019] UKSC 48 on 31 October 2019. The appellant, Travelers Insurance Company Limited (“Travelers”) was succes...
New dispute resolution service for SMEs Background In March 2018, UK Finance commissioned an independent review into the complaints and alternative dispute resolution landscape for the small and medium sized enterprises market in the UK. An in...
Summary The High Court has recently handed down its judgment in R (Critchley) v Financial Ombudsman Service and two others [2019] EWHC 3036 (Admin). The applicant, Mrs Critchley sought to challenge FOS’s rejection of her PPI complaint on...
Kavesseri Menon and Beena Menon –v- Nathan Pask and Rosalind Goode (as joint fixed charge Receivers) [2019] EWHC 2611(ch) Summary: The High Court recently provided much needed clarity on the previously unanswered question of whether Receivers ...
1. FCA Final Report on Motor Finance In March 2019, the FCA published its Final Report on motor finance. Our briefing note on the Final Report can be found View Details..
Since the Federal Council ordered the closure of a large part of the shops in Switzerland in mid-March to counteract the spread of the COVID-19 virus, a dispute has raged between business tenants and landlords as to whether this extraordinary situat...
In cases where operations have to be closed or business activities are prohibited, the question arises as to what happens to the lease and whether it can be suspended, paid in instalments or cancelled altogether. Below we have prepared a short overv...
Together in electric dreams The Chancellor’s announcement of a £500 million fund to support the rollout of electric vehicle charging points has caused many landowners to take notice of the potential benefits that this electric rev...
The Energy Efficiency (Private Rented Property) (England and Wales) Regulations 2015 (“MEES Regulations”) provide that from 1 April 2018, it is unlawful for a Landlord of private rented property to grant a tenancy to a new or existing te...
SARS-CoV-2 ("Corona") The SARS-CoV-2 virus, also referred to as "Corona", has reached Germany with significant effects across all industries. This article aims at answering the specific issues which communities of condominium owners and administrato...
The Ground Beneath Our Feet The reservations of mines and minerals in a real estate context can be a cause for concern, especially when considering purchasing a property for development. With an eye to an economic opportunity, the registratio...
In Austria, the Civil Code provides in its Sections 1104 and 1105 ABGB for total or partial exemptions from existing rent payment obligations for tenants in the case that the leased property is unusable due to epidemics. When is a complete rent exe...
Nigel Crighton Pease v Jeffrey William Carter and Louise Mary Carter [2020] EWCA Civ 175 A recent Court of Appeal decision found that notices of proceedings for possession under s.8 of the Housing Act 1988 were valid despite an error in a key date ...
Eversheds Sutherland property column: February 2020 Introduction A property to be transferred is often so much more than an area of land or a building. The rights that accompany the area edged red on a title plan may make the land worth having...
Giles Duncan Fearn (2) Gerald Kraftman (3) Ian McFadyen (4) Helen Claire McFadyen (5) Lindsay Urquhart v The Board of Trustees of the Tate Gallery [2020] EWCA Civ 104 The Court of Appeal has dismissed an appeal made by residents of luxury glass-fron...