Professional and financial risks
Money Covered: The Week That Was - 11 July 2025
Welcome to The Week That Was, a round-up of key events in the financial services sector over the last seven days.
Read moreCourt of Appeal slams brakes on judicial review as Supreme Court accelerates in motor finance saga
As the Court of Appeal slams the brakes on Barclays' judicial review of a FOS decision upholding a vehicle finance complaint, all eyes are on the Supreme Court as they prepare to hand down judgement this month in the case of Johnson v FirstRand Bank which is primed to have a multibillion-pound impact on the vehicle finance market.
Read moreMoney Covered: The Week That Was - 4 July 2025
Welcome to The Week That Was, a round-up of key events in the financial services sector over the last seven days.
Read moreLawyers Covered - June 2025
It can be tough for busy lawyers to find enough time to service clients, make it safely through the regulation obstacle course, win new work and keep up-to-date with developments, but we've got you covered! Welcome to our Lawyers Liability & Regulatory Update, in which we highlight the last month's key developments affecting lawyers and the professional risks they face.
Read moreRegulatory Pulse - 26 June 2025
Bringing you up to speed on developments in solicitors' regulation every fortnight.
Read moreThe Month that Was – May/June 2025 – a look at Employment Practices Liability Insurance and its relationship to D&O
In this episode, Mel is joined by Kim Wright and Matt Watson to discuss Employment Practices Liability (EPL) insurance, its scope, and its intersection with Directors & Officers (D&O) insurance.
Read moreFCA considers motor finance redress scheme
The Financial Conduct Authority (FCA) has published its key considerations in anticipation of a possible motor finance redress scheme pending the outcome of the Supreme Court appeal in Johnson v FirstRand Bank Limited.
Read moreGovernment to introduce legislation to allow for Section 37 issues arising from Virgin Media v NTL Trustees to be addressed retrospectively
The Government has announced plans to introduce legislation to give pension schemes the ability to retrospectively obtain written actuarial confirmation that historic benefit changes met necessary standards at the time. This will provide welcome relief following the case of Virgin Media v NTL Trustees Limited, which rendered otherwise effective amendments void in the absence of an actuarial confirmation. The announcement will provide significant comfort to contracted out pension schemes that made amendments between 1997 to 2016 and cannot locate actuarial confirmation as required from the time of the changes. We look back at the issues arising from the Virgin Media v NTL Trustees decisions, consider the impact the cases had on the industry and what the government's announcement means.
Read moreFRC overhauls Investor Stewardship Code for 2026
On 3 June 2025, the Financial Reporting Council (FRC) published the UK Stewardship Code 2026 that will take effect from 1 January 2026.
Read moreFOS to consult on interest - Is 8% too high?
On 4 June 2025 the Financial Ombudsman Service (FOS) opened a consultation into the standard interest applied to its awards which has historically been applied at 8%.
Read moreRegulatory Pulse - 6 June 2025
Bringing you up to speed on developments in solicitors' regulation every fortnight.
Read moreLawyers Covered - May 2025
It can be tough for busy lawyers to find enough time to service clients, make it safely through the regulation obstacle course, win new work and keep up-to-date with developments, but we've got you covered! Welcome to our Lawyers Liability & Regulatory Update, in which we highlight the last month's key developments affecting lawyers and the professional risks they face.
Read moreMoney Covered: The Week That Was – 30 May 2025
Welcome to The Week That Was, a round-up of key events in the financial services sector over the last seven days.
Read moreMoney Covered: The Week That Was – 23 May 2025
Welcome to The Week That Was, a round-up of key events in the financial services sector over the last seven days.
Read moreQ1 2025 insolvency claims activity – a word of warning for D&Os and their insurers?
The latest data on the number of winding up petitions in the Insolvency and Companies Court provide insights on the recent increase in insolvencies and offers a hint as to the sectors that may be impacted most by claims against the former directors of insolvent companies.
Read moreRegulatory Pulse - 19 May 2025
Phew, it's been a busy couple of weeks! Let's bring you up to speed.
Read moreMoney Covered: The Week That Was – 16 May 2025
Welcome to The Week That Was, a round-up of key events in the financial services sector over the last seven days.
Read moreMoney Covered: The Week That Was – 9 May 2025
Welcome to The Week That Was, a round-up of key events in the financial services sector over the last seven days.
Read moreRegulatory Pulse - 9 May 2025
Welcome to the second edition of RPC Pulse. A concise look at regulatory developments for solicitors, delivered to your inbox every fortnight.
Read moreLawyers Covered - April 2025
It can be tough for busy lawyers to find enough time to service clients, make it safely through the regulation obstacle course, win new work and keep up-to-date with developments, but we've got you covered! Welcome to our Lawyers Liability & Regulatory Update, in which we highlight the last month's key developments affecting lawyers and the professional risks they face.
Read moreMoney Covered: The Week That Was – 25 April 2025
Welcome to The Week That Was, a round-up of key events in the financial services sector over the last seven days.
Read moreRegulatory Pulse - 24 April 2025
Welcome to the first edition of RPC Pulse. A concise look at regulatory developments for solicitors, delivered to your inbox every fortnight.
Read moreMoney Covered: The Week That Was – 17 April 2025
Welcome to The Week That Was, a round-up of key events in the financial services sector over the last seven days.
Read moreSupreme Court upholds that fiduciaries must act with "single-minded loyalty toward their principals (or beneficiaries)"
In Rukhadze and others v Recovery Partners GP Ltd and another [2025] UKSC 10, the Supreme Court unanimously affirmed the legal test for the account of profits rule (the Profit Rule).
Read moreMoney Covered: The Week That Was – 11 April 2025
Welcome to The Week That Was, a round-up of key events in the financial services sector over the last seven days.
Read morePension Trustee Liability: Apportioning Responsibility Between Professional and Member Trustees
A recent decision of The Pension Ombudsman (TPO) sets out the duties of independent trustees in Small Self-Administered Scheme (SSAS) and in particular their duties towards investment due diligence. The decision also looks at the split in responsibility between a member trustee and a professional trustee.
Read moreCourt confirms vicarious liability does not apply to LPA receivers
In an appeal, the High Court considered whether an employer of LPA receivers can be held vicariously liable for the actions of receivers during receivership – the High Court, upholding the lower decision on a strike out application, found that the employer was not liable.
Read moreMoney Covered: The Week That Was – 4 April 2025
Welcome to The Week That Was, a round-up of key events in the financial services sector over the last seven days.
Read moreLawyers Covered: March 2025
It can be tough for busy lawyers to find enough time to service clients, make it safely through the regulation obstacle course, win new work and keep up-to-date with developments, but we've got you covered! Welcome to our Lawyers Liability & Regulatory Update, in which we highlight the last month's key developments affecting lawyers and the professional risks they face.
Read moreTooling v Engie: a glimpse into the future of the motor finance litigation?
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.
Read moreMoney Covered: The Week That Was – 28 March 2025
Welcome to The Week That Was, a round-up of key events in the financial services sector over the last seven days.
Read moreFRC to back growth in a new three-year plan – impacting auditors, actuaries, and D&Os
FRC to Back Growth in a New Three-Year Plan – impacting auditors, actuaries, and D&Os The FRC has published its Strategy for 2025-2028 and its Annual Business Plan and Budget for 2025-2026, following a period of consultation and engagement with stakeholders. There are some key messages alongside the Strategy, Plan and Budget, with the FRC emphasising an intention to support UK economic growth and investment whilst serving the public interest through "smart, targeted and proportionate" regulation. The three-year strategy and annual budget allow the FRC to set out interim objectives whilst they prepare for the Government's draft legislation to modernise its statutory powers and ensure that they are fit for purpose.
Read moreVehicle Finance Redress Scheme seems to be down the road
In what could be the final chapter in the long running (or driving) vehicle finance saga, the FCA has announced that it is likely to consult on a redress scheme following the Supreme Court's anticipated decision in Jonson v FirstRand Bank Limited
Read moreMoney Covered: The Week That Was - 28 February 2025
Welcome to The Week That Was, a round-up of key events in the financial services sector over the last seven days.
Read moreLawyers Covered - February 2025
It can be tough for busy lawyers to find enough time to service clients, make it safely through the regulation obstacle course, win new work and keep up-to-date with developments, but we've got you covered! Welcome to our February 2025 edition of our Lawyers Liability & Regulatory Update, in which we highlight the last month's key developments affecting lawyers and the professional risks they face.
Read moreSRA unlimited fining powers
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.
Read moreMoney Covered: The Week That Was – 14 February 2025
Welcome to The Week That Was, a round-up of key events in the financial services sector over the last seven days.
Read moreThe Year to Come – 2025 – Financial Services and Accountants trends and developments we expect to see in 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.
Read moreImportant changes to note in accountant ethics code update
In this article we consider the anticipated updates to the accountant's Code of Ethics and explore the ripple effects on insurance policies.
Read moreMoney Covered: The Week That Was - 31 January 2025
Welcome to The Week That Was, a round-up of key events in the financial services sector over the last seven days.
Read moreLawyers Covered - January 2025
It can be tough for busy lawyers to find enough time to service clients, make it safely through the regulation obstacle course, win new work and keep up-to-date with developments, but we've got you covered! Welcome to our January 2025 bumper edition of our Lawyers Liability & Regulatory Update, in which we highlight the last month's key developments affecting lawyers and the professional risks they face.
Read moreAcceptable levels of consumer harm – the FCA seek guidance in balancing risk with reward
The chief executive of the Financial Conduct Authority (FCA), Nikhil Rathi, has called for the UK government to define an 'acceptable level of consumer harm' in response to the government's demand for reduced regulations.
Read moreThe FCA reveals its new strategy for supervision of wholesale brokers
On 24 January 2025, the Financial Conduct Authority (FCA) published a portfolio letter setting out their new strategy for supervising wholesale brokers.
Read moreFOS Complaints Newsletter - January 2025
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.
Read moreUndertakings and summary judgment
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.
Read moreMoney Covered: The Year To Come – 2025 – D&O and Pensions trends and developments we expect to see in 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.
Read moreRIAAT and retirement income advice – looking forward to 2025
Retirement income advice has been a particular focus of the Financial Conduct Authority in recent years. Looking forward into 2025, there are many challenges and risks facing firms in respect of their provision of retirement income advice.
Read moreFormalities – not so formal?
In two cases – one recent, one not so recent – the High Court looked at and got around formalities; (1) to find a claim in time for limitation purposes by concluding that an agreement had been executed as a deed and (2) by rectifying a signature block so that an amendment to a pension scheme's rules took place as intended. These cases potentially show the courts taking a more lenient approach to formalities and may assist in professional negligence claims arising where documents are considered invalid for failing to follow relevant formalities.
Read moreAn update to the FCA's "polluter pays" framework – accountability for harm caused to consumers.
The Financial Conduct Authority (the FCA) has issued updated guidance on its "polluter pays" framework. In an update published on 14 January 2025, the FCA provided further information on the framework, which could lead to firms compensating consumers when they provide poor advice, products or services.
Read moreOmbudsman decision – clarifying liability where there are delays in the pension administration process
When delays occur in pension transfers, the implications for members can be significant—but how far does a provider’s responsibility extend? A recent determination by the Pensions Ombudsman in the case of Mr R offers important clarification. Whilst the Ombudsman recognised some administrative shortcomings, the decision reaffirmed that providers are not liable for all financial consequences arising from delays, particularly when those consequences result from a member’s own actions.
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