UK Knowledge Collection | Litigation funding, 'failure to prevent' offences, and renters' reform
Published on 30th Aug 2024
Welcome to this week's Knowledge Collection
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The government has given an indication of its initial approach to third-party litigation funding. There has been concern that, after the Supreme Court's decision in Paccar, certain litigation funding agreements may not now be enforceable. The previous government's bill, intended to resolve the position, was abandoned before the general election. Our Insight considers the implications of recent comments by the new government, which intends to wait until the outcome of the Civil Justice Council's review of the industry (due in summer 2025) before it introduces further legislation.
With the new failure to prevent fraud offence expected to come into force next year, our Insight compares the new offence with the existing failure to prevent tax evasion offence (in the Criminal Finances Act), the enforcement approach of the authorities, and what businesses should be doing to mitigate risk on both fronts.
The government's legislative agenda, set out in the King's Speech last month, included the introduction of a Renters' Reform Bill. While there are many current unknowns, the rental market is poised for significant change. Our Insight looks at what is known about the proposed reforms, and at some of the areas of uncertainty. And our property disputes webinar series returns in September, with a commercial landlord and tenant focus. The first session will look at the Minimum Energy Efficiency Regime (MEES) and its interplay with dilapidations and business rates exemptions.
Recent Insights
Non-financial misconduct in UK financial services: the disputes perspective
After an FCA and PRA consultation on diversity and inclusion and a parliamentary enquiry on sexism in the City, what are UK financial regulators expecting from firms and what is the direction of travel?
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UK FCA adopts commission sharing arrangement-style investment research payment option
The FCA has finalised its plans for a new way to pay for investment research, which aims to give UK buy-side firms greater control over how they can purchase it. The changes, intended to boost competition, also keep the UK aligned with the EU.
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UK government bides time on legislative action to reverse the effect of Paccar
The litigation funding industry in England and Wales remains in limbo as the government waits for the conclusion of the Civil Justice Council review of the litigation funding market.
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UK tax disputes set for further 'failure to prevent' corporate criminal offences
Corporates face an increasing risk of criminal prosecution for tax evasion under the new "failure to prevent fraud" offence in the Economic Crime and Corporate Transparency Act 2023.
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The Renters' Rights Bill: a new era for landlords and tenants in England?
Residential reforms outlined in the King's Speech look set to resurrect parts of the previous government's renters' reform bill.
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Upcoming Events
Dipping into Data | Data Subject Access Requests
10 September | 16:00-16:30
Using a practical case study, we will look at the mechanics and tactical considerations of responding to a data subject access request and provide an update on the latest regulatory and case law developments.
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DORA: Financial institutions under the new ICT governance framework
17 September | 14:00-15:00
The EU's Digital Operational Resilience Act will become applicable as of 17 January 2025, bringing significant implications for financial services firms and their providers of ICT-related services.
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Immigration update
18 September | 09:30-10:30
Our webinar will examine the effect on businesses and compliance of the immigration law changes that have occurred since April, what is planned, and the potential impact of new government policy.
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MEES, dilapidations and rates
25 September | 09:30-10:15
What do the current MEES and EPC regulations require of landlords? How do these regulations and green lease clauses affect a tenant's liability for dilapidations? And how can landlords and tenants take advantage of business rates exemptions when undertaking MEES works?
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eCommerce forum
26 September | One London Wall | 09:30-13:00
An in-person forum to discuss emerging legal issues for eCommerce players: the UK's new Digital Markets, Competition and Consumers Act; European digital regulation (including the lessons learned from the Digital Services Act, and what to expect from the European Accessibility Act); and digital payments.
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