The following Financial Services practice note provides comprehensive and up to date legal information covering:
This insurance distribution quick guide details current UK legislation and retained EU legislation in relation to insurance distribution requirements that will be amended and/or revoked by the Insurance Distribution (Amendment) (EU Exit) Regulations 2019, SI 2019/663 (ID Exit Regulations 2019) and other instruments at the end of the implementation period following the UK’s withdrawal from the EU, as well as corresponding changes to Financial Conduct Authority (FCA) rules and guidance.
The ID Exit Regulations 2019 were made on 25 March 2019. The SI is part of HM Treasury’s programme of statutory instruments under the European Union (Withdrawal) Act 2018 EU(W)A 2018 dealing with contingency preparations for a ‘no deal’ Brexit. This SI forms part of the process of domesticating EU law to ensure legal continuity at the point of the UK’s exit from the EU. EU(W)A 2018 ‘onshores’ and preserves most EU and EU-derived law as it stands immediately before the UK’s departure.
The Withdrawal Agreement sets out the arrangements for UK withdrawal from the EU. It includes a transition period (or, to use the UK government’s phraseology, the ‘implementation period’) beginning on 31 January 2020 and ending on 31 December 2020. During the implementation period, the UK will be treated, for most purposes, as if it were still an EU Member State with access to EU markets on current terms and importantly
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This Practice Note examines the doctrine of consideration and the key role it plays in English law in determining whether a contract is enforceable.A promise will only be capable of being contractually enforced if it is either made in a deed or made in exchange for something of value, known as
This Practice Note examines:•why negative pledge clauses are used in commercial transactions •the consequences of breaching negative pledge provisions•how negative pledges are viewed in the context of security and quasi-security, and•key considerations when drafting a negative pledge clauseWhere
Having established that a duty of care exists (see Practice Note: Negligence—when does a duty of care arise?), it is then necessary to consider whether or not there has been a breach of that duty. This will depend on a number of factors outlined below and considered against the general background of
What is QOCS?Qualified one-way costs shifting (QOCS) was introduced on 1 April 2013 as part of the Jackson costs reforms following the removal of a claimant’s right to recover additional liabilities from the defendant, ie success fees and after the event (ATE) insurance premiums. The relevant CPR
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