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Thinking - Blog

FOS complaints on the rise – is enough being done?

Published on 07 Jan 2025. By David Allinson, Partner and Damien O'Malley, Associate

The Financial Ombudsman Service (FOS) has recently published its yearly complaint data, revealing that complaints regarding fraud, scams, current accounts and credit cards between July and September 2024 hit record levels, rising more than 50% compared to the same period in 2023. The data provides a breakdown of the areas where complaints appear to have increased the most.

Thinking - Publication

Money Covered: The Week That Was – 22 November 2024

Published on 22 Nov 2024. By Rachael Healey, Partner and Robert Morris, Partner and David Allinson, Partner and George Smith, Partner and Matthew Watson, Partner

Welcome to The Week That Was, a round-up of key events in the financial services sector over the last seven days.

Thinking - Publication

Money Covered: The Week That Was - 1 November

Published on 01 Nov 2024. By Rachael Healey, Partner and Robert Morris, Partner and David Allinson, Partner and George Smith, Partner

Welcome to The Week That Was, a round-up of key events in the financial services sector over the last seven days.

Thinking - Blog

The 'Audit Reform and Corporate Governance Bill': Momentum for legislative reform continues, but what does the proposed legislation mean for management liability?

Published on 09 Oct 2024. By Mike Newham, Partner and Victoria Lawman, Trainee Solicitor and Aimee Talbot, Knowledge Lawyer

We consider what we know about the proposed Audit Reform and Corporate Governance Bill.

Thinking - Blog

Fixed recoverable costs: One year on

Published on 30 Sep 2024. By Chris Gower, Senior Associate and Gavin Reese, Partner, Head of Regulatory

1 October 2024 marks the one year anniversary of the implementation of the final Jackson reform: the biggest shake-up to civil costs in a decade. We consider the impact of the reforms and whether the predictions we made this time last year were right.

Thinking - Blog

Compulsory mediation in small claims: a quick guide for the busy lawyer

Published on 28 Jun 2024. By Kirstie Pike, Partner and James Ainsworth, Senior Associate

A new pilot scheme requiring parties in money claims valued at up to £10,000 to take part in a compulsory free one-hour mediation appointment, provided by HMCTS' Small Claims Mediation Service – before the claim can then proceed to Court if no settlement is reached.

Thinking - Blog

No bouncing back for directors

Published on 20 May 2024. By James Wickes, Partner and Adam Craggs, Partner and Catherine Zakarias-Welch, Knowledge Lawyer

Banned! Fraudsters! – Terms used by the Insolvency Service for directors who abused the government backed loan scheme which was put in place to help businesses struggling during the pandemic.

Thinking - Publication

Money Covered: The Week That Was – 10 May

Published on 10 May 2024. By Rachael Healey, Partner and Robert Morris, Partner and David Allinson, Partner and George Smith, Partner

Welcome to The Week That Was, a round-up of key events in the financial services sector over the last seven days.

Thinking - Publication

Money Covered: The Week That Was – 3 May

Published on 03 May 2024. By Rachael Healey, Partner and Robert Morris, Partner and David Allinson, Partner and George Smith, Partner

Welcome to The Week That Was, a round-up of key events in the financial services sector over the last seven days.

Thinking - Publication

Money Covered: The Week That Was – 26 April

Published on 26 Apr 2024. By Rachael Healey, Partner and Robert Morris, Partner and David Allinson, Partner and George Smith, Partner

Welcome to The Week That Was, a round-up of key events in the financial services sector over the last seven days.

Thinking - Publication

Money Covered: The Week that Was - 19 April

Published on 19 Apr 2024. By Rachael Healey, Partner and Robert Morris, Partner and David Allinson, Partner and George Smith, Partner

Welcome to The Week That Was, a round-up of key events in the financial services sector over the last seven days.

Thinking - Publication

Money Covered: The Week that Was - 25 August

Published on 25 Aug 2023. By Rachael Healey, Partner and Robert Morris, Partner and David Allinson, Partner and George Smith, Partner

Welcome to The Week That Was, a round-up of key events in the financial services sector over the last seven days.

Thinking - Publication

Money Covered: The Week that Was - 04 August

Published on 04 Aug 2023. By Rachael Healey, Partner and Robert Morris, Partner and David Allinson, Partner and George Smith, Partner

Welcome to The Week That Was, a round-up of key events in the financial services sector over the last seven days.

Thinking - Blog

Fix up, look sharp: FRC update

Published on 01 Aug 2023. By Will Sefton, Partner, Head of the Lawyers Liability and Regulatory Group and Aimee Talbot, Knowledge Lawyer

What's the latest on fixed recoverable costs in professional negligence claims?

Thinking - Publication

Money Covered: The Week that Was - 28 July

Published on 28 Jul 2023. By Rachael Healey, Partner and Robert Morris, Partner and David Allinson, Partner and George Smith, Partner

Welcome to The Week That Was, a round-up of key events in the financial services sector over the last seven days.

Thinking - Publication

Money Covered: The Week that Was - 07 July

Published on 07 Jul 2023. By Rachael Healey, Partner and Robert Morris, Partner and David Allinson, Partner and George Smith, Partner

Welcome to The Week That Was, a round-up of key events in the financial services sector over the last seven days.

Thinking - Blog

A matter of interpretation – the Supreme Court look at contractual interpretation once more

Published on 24 Feb 2023. By Poppy Hay, Associate and Laura Stocks, Partner

In their recent Judgment in Sara & Hossein Asset Holdings Ltd (a company incorporated in the British Virgin Islands) v Blacks Outdoor Retails Ltd [2023] UKSC 2 the Supreme Court adopted a commercially balanced interpretation of a lease; rejecting the overly textual approach of the Court of Appeal in favour of reading the relevant clause in the context of the lease as a whole.

Thinking - Blog

Your statement or mine? Witness statements under Practice Direction 57AC

Published on 23 Feb 2023. By Richard Seymour, Associate and Simy Khanna, Partner

The judgment of Mr Justice Fancourt in Mackenzie v Rosenblatt Solicitors & Anor [2023] EWHC 331 (Ch) has highlighted, in no less than 36 paragraphs on the matter, the importance of ensuring compliance and understanding of Practice Direction 57AC - Trial Witness Statements in the Business and Property Courts ("PD 57AC"), when preparing witness statements.

Thinking - Blog

The collapse of FTX: lessons for many

Published on 14 Feb 2023. By James Wickes, Partner and Matthew Wood, Of Counsel

From investors to regulators, FTX Trading Ltd (FTX) filing for bankruptcy was unexpected by all. A catalyst for litigation and regulation over the years to come, this collapse will serve as a warning, particularly to cryptocurrency insurers.

Thinking - Blog

SLAPPs – a round up of the latest developments for the SRA

Published on 02 Feb 2023. By Graham Reid, Partner and Charlotte Thompson, Associate

The last week or so has seen a burst of activity on SLAPPs, alongside criticism of the SRA. This will be of interest to lawyers and their insurers.

Thinking - Blog

The scope of a solicitor's duty to third parties in the spotlight again

Published on 26 Jan 2023. By Michelle Peacock, Associate and Rhian Howell, Partner & Head of Bristol Office

The Claimant (Mr Syed Ul Haq), via his Estate, brought claims against the Defendants for damages arising out of two frauds in connection with the same property. It is central to this appeal to understand that Rees Page Solicitors never acted for the Claimant. It is indeed for that reason Rees Page Solicitors applied for summary judgment on the grounds that the Claimant had no reasonable prospects of success. After hearing the application, on 13 December 2019, Deputy Master Lloyd, granted summary judgment on the basis that as Mr Ul Haq was not a client of Rees Page Solicitors, they did not owe him a duty of care.

Thinking - Blog

FCA consultation on British Steel redress scheme published

Published on 31 Mar 2022. By David Allinson, Partner and Robert Morris, Partner

The FCA has now published its consultation paper on the proposed redress scheme for British Steel Pension transfers under s.404 of FSMA. The scope of this is wider than anticipated and the proposals contain some surprises around the lack of an opt-in process and potential involvement of FOS.

Thinking - Blog

Financial Services: Minimising Risk in a Dawn of Opportunity

Published on 12 Nov 2014. By Simon Laird, Partner, Insurance Sector Lead

Over the last few years, firms have been asking themselves how they will make money in the post RDR world.

Thinking - Blog

ClientEarth challenges claims made by BlackRock in its sustainable funds

Published on 28 Oct 2024. By James Wickes, Partner and Catherine Zakarias-Welch, Knowledge Lawyer

Not only are regulators clamping down on greenwashing but, as previously highlighted, ClientEarth, a non-profit international environmental law organisation, also has this issue squarely in its sights.

Thinking - Blog

Uncertainty around the mandatory reimbursement cap for APP frauds – a new headache for FI firms and their insurers?

Published on 09 Sep 2024. By James Wickes, Partner and Aimee Talbot, Knowledge Lawyer

New regulations coming on 7 October 2024 will force payment firms to reimburse victims of authorised push payment (APP) fraud up to a set limit. On 4 September 2024, the Payment Systems Regulator (PSR) announced a consultation proposing to set this limit at £85,000, vastly reduced from the previously proposed £415,000 cap. This is a potential headache for insurers as the level of the cap will impact assessment of risk and apportionment of liability between sending and receiving payment firms – and the industry will only have 7 days to prepare.

Thinking - Blog

Further welcome news from the FCA – this time on co-manufacturing

Published on 08 Aug 2024. By Jonathan Charwat, Partner and Lauren Murphy, Senior Associate

Following on from our earlier blog, our review of the FCA's 'Discussion Paper' (DP24/1) continues, this time considering the rules relating to co-manufacturers of insurance products.

Thinking - Blog

Potential deregulation and a pragmatic approach to commercial insurance – welcome news from the FCA

Published on 01 Aug 2024. By Jonathan Charwat, Partner

The FCA has published a 'Discussion Paper' (DP24/1) seeking feedback on its rules on commercial insurance including in respect of the types of commercial customers in-scope, co-manufacturing of products and bespoke insurance products.

Thinking - Publication

New Labour government – what is in store for the UK?

Published on 09 Jul 2024. By Rachael Healey, Partner

We have a new Labour Party government for the first time in 14 years. The new government has already made various announcements, with more set to follow in the coming days, and then we have the King’s Speech on 17 July, when the Labour Party will set out its opening legislative agenda – but what can we expect from the new government impacting services regulated by the Financial Conduct Authority, pensions and accountants?

Thinking - Blog

Surveying the risks: RICS proposed updates tackling financial crime

Published on 02 Jun 2025. By Ben Goodier, Partner and Emma Wherry, Of Counsel and Catherine Zakarias-Welch, Knowledge Lawyer

Financial crime is on the rise. In response to the new technologies criminals are using, such as AI and cryptocurrency, RICS launched a consultation calling on members, regulated firms and key stakeholders to respond to its consultation on proposed changes to "The Financial Crime Standard" (The RICS Countering Financial Crime: Bribery, Corruption, Money Laundering, Terrorist Financing, and Sanctions Violation Professional Standard).

Thinking - Blog

A guide to buying and selling English residential property

Published on 14 Jan 2025. By Elizabeth Alibhai, Partner and Sukh Ahark, Partner, Co-head of India Practice and Ben Roberts, Partner and Jon Ely, Partner and Arash Rajai, Partner

We are seeing increased positivity in the English residential property market. In 2024, inflation reached the Bank of England’s 2% target, down from 11.1% in 2022, which was a significant factor in the return of consumer confidence and economic growth. Mortgage rates are falling slightly with approval rates at their highest level since 2022 as buyers continue to respond to increased certainty post-election. Property values are again on the rise while demand continues to outstrip supply.

Thinking - Blog

Unpacking the Building Safety Act's industry overhaul

Published on 06 Mar 2024. By Zoe Eastell, Partner and Zack Gould-Wilson, Senior Associate

On June 28, 2022, the Building Safety Act 2022 received royal assent, bringing about the biggest change to building safety in 40 years.

Press and Media

The Times recognises RPC among Best Law Firms 2024

Published on 30 Oct 2023.

International law firm, RPC, has been recognised by The Times in its Best Law Firms 2024 report, an annual ranking of the top 250 law firms in England and Wales.

Thinking - Blog

The El Niño year and impact on subsidence claims

Published on 13 Jul 2023. By Andrew Roper, Partner and Aimee Talbot, Knowledge Lawyer

Insurers should be bracing for a wave of subsidence claims arising from the increasingly warm weather. The UN’s World Meteorological Organization (WMO) has declared that an El Niño climate event is in progress, which helps explain why June 2023 was the hottest on record in the UK.

Thinking - Blog

Building on renewable energy #3 – Anaerobic Digestion

Published on 24 Sep 2020.

Anaerobic digestion is the process by which biodegradable materials are broken down in a controlled environment. Whilst being broken down, the materials emit gas (which can be used as a source of renewable energy), and produce heat (which can also be harnessed on or near-to site). The process also leaves a waste material (digestate), which can be used as fertiliser, contributing to the circular economy.

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Thinking - Blog

Regulatory Pulse - 26 June 2025

Published on 26 Jun 2025. By Tom Wild, Senior Associate and Charlotte Thompson, Associate and Jake Cotterill, Associate

Bringing you up to speed on developments in solicitors' regulation every fortnight.

Thinking - Blog

Regulatory Pulse - 6 June 2025

Published on 06 Jun 2025. By Tom Wild, Senior Associate

Bringing you up to speed on developments in solicitors' regulation every fortnight.

Thinking - Blog

Regulatory Pulse - 19 May 2025

Published on 19 May 2025. By Tom Wild, Senior Associate

Phew, it's been a busy couple of weeks! Let's bring you up to speed.

Thinking - Blog

Regulatory Pulse - 9 May 2025

Published on 09 May 2025. By Tom Wild, Senior Associate

Welcome to the second edition of RPC Pulse. A concise look at regulatory developments for solicitors, delivered to your inbox every fortnight.

Thinking - Blog

Regulatory Pulse - 24 April 2025

Published on 24 Apr 2025. By Tom Wild, Senior Associate

Welcome to the first edition of RPC Pulse. A concise look at regulatory developments for solicitors, delivered to your inbox every fortnight.

Thinking - Blog

Tooling v Engie: a glimpse into the future of the motor finance litigation?

Published on 31 Mar 2025. By Alison Thomas, Associate and Rachael Healey, Partner

On 21 March 2025, the Court of Appeal handed down an expedited judgment in Expert Tooling and Automation Ltd v Engie Power Ltd [2025] EWCA Civ 292, a case which, like one of the three linked motor finance cases due to be heard at the Supreme Court this week (Johnson v FirstRand Bank Limited), dealt with 'half secret' commissions. In Tooling the Court of Appeal took the opportunity to expand upon and further explain some of its reasoning in Johnson.

Thinking - Blog

SRA unlimited fining powers

Published on 24 Feb 2025. By Shanice Holder, Associate and Tom Wild, Senior Associate and Graham Reid, Partner

The biggest development in solicitors' regulation in 2025 is undoubtedly the SRA's new approach to financial penalties. For the first time in history, the SRA will wield unlimited fining powers, and it proposes to use them in a way which could transform the financial consequences of regulatory breaches.

Thinking - Podcast

The Year to Come – 2025 – Financial Services and Accountants trends and developments we expect to see in 2025

Published on 13 Feb 2025.

Welcome to Money Covered, a monthly podcast from RPC aimed at those dealing with complaints, claims and risk management in the financial services sector.

Thinking - Publication

FOS Complaints Newsletter - January 2025

Published on 30 Jan 2025. By Rachael Healey, Partner and David Allinson, Partner and George Smith, Partner and Esme Watson, Senior Associate and Shauna Giddens, Associate

Welcome to the FOS complaints quarterly newsletter. In this second of our quarterly FOS complaints newsletters we look at recent developments which have already impacted, or are likely to impact, future developments and trends.

Thinking - Blog

Undertakings and summary judgment

Published on 30 Jan 2025. By Jo Makin, Senior Associate and Will Sefton, Partner, Head of the Lawyers Liability and Regulatory Group

The recent decision in the case of Social Money Limited v Attwells Solicitors LLP [2024] EWHC 3288 (Ch) provides some interesting considerations on a number of matters relating to the giving of undertakings and attempts to seek to obtain summary judgment in that regard.

Thinking - Blog

High Court overturns SRA intervention

Published on 17 Dec 2024. By Will Sefton, Partner, Head of the Lawyers Liability and Regulatory Group and Michelle Peacock, Associate and Aimee Talbot, Knowledge Lawyer

A recent High Court decision saw the court overturn the SRA's intervention in a regulated law firm: only the second decision of its kind in 20 years.

Thinking - Blog

Oakwood Solicitors Ltd v Menzies – Supreme Court decision on 'payment' of solicitors' bills

Published on 29 Nov 2024. By Will Sefton, Partner, Head of the Lawyers Liability and Regulatory Group and Victoria Lawman, Trainee Solicitor

In their recent Judgment in Oakwood Solicitors Ltd v Menzies [2024] UKSC 34 the Supreme Court overturned the Court of Appeal decision. The Supreme Court held that deducting fees, payable under a statutory bill, is not a 'payment' within the meaning of section 70 Solicitors Act 1974 (the Act); even when deducted with the client's knowledge and consent.

Thinking - Publication

FOS Complaints Newsletter - October 2024

Published on 25 Oct 2024. By Rachael Healey, Partner and David Allinson, Partner and George Smith, Partner and Esme Watson, Senior Associate and Shauna Giddens, Associate

Welcome to the FOS complaints quarterly newsletter. We have pulled together FOS complaints data going back to 2018 when FOS first started publishing complaints data at a product/service level to bring you an overview of what we are seeing in terms of complaints and uphold rates so we can draw trends from the data. FOS complaints data runs from April to March and so the first quarter of any year covers April to June.

Thinking - Blog

Growth vs. client care: SRA’s warning on mergers and the risk to public trust

Published on 26 Sep 2024. By Kirstie Pike, Partner and Aimee Talbot, Knowledge Lawyer and Victoria Lawman, Trainee Solicitor

We consider the key takeaways from the SRA's warning notice to firms growing by merger, which urges firms to keep client interests central to their decision-making processes.

Thinking - Blog

SRA consults the legal sector on proposed changes to their fining framework

Published on 30 Jul 2024. By Will Sefton, Partner, Head of the Lawyers Liability and Regulatory Group and Victoria Lawman, Trainee Solicitor

The SRA is conducting a consultation from the 28 June to 20 September 2024 on their proposed changes to the SRA Fining Guidance. The regulator is seeking feedback in response to the new unlimited fining powers granted under the Economic Crime and Corporate Transparency Act (ECCTA 2023).