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Checklist for compromises of FCA-regulated entities: information requirements

Checklist for compromises of FCA-regulated entities: information requirements The Financial Conduct Authority (FCA) is the conduct regulator for financial services firms and financial markets in the United Kingdom. It has a duty under section 1B of the Financial Services and Markets Act 2000 (FSMA 2000) to pursue certain objectives, one of which is the consumer protection objective. The FCA lists its statutory objectives as to secure an appropriate degree of protection for consumers and to protect and enhance the integrity of UK financial markets, with a view to reducing the number of proposed compromises that they do not consider to be appropriate (see FG22/4, para 1.2). On 5 July 2022, the FCA published guidance on compromises of regulated firms (see FCA Guidance FG22/4 July 2022 and updated in January 2024) following their significant concerns about these tools being proposed and used by firms to avoid paying customers redress (see: LNB News 05/07/2022 72). Practitioners will need to take note of the guidance where the proposed compromise involves regulated companies, meaning...

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Boparan/ForFarmers (Burston and Radstock mills)

Boparan/ForFarmers (Burston and Radstock mills) CASE HUB See further, timeline and commentary Case facts Outline UK merger investigation into the anticipated acquisition by Boparan Private Office Limited (via 2 Agriculture Limited) of ForFarmers UK Limited’s Burston and Radstock feed mills. The transaction involves horizontal overlaps in relation to the supply of meat poultry feed. Latest developments On 28 November 2024. the CMA issued a notice of extension of the inquiry period under section 39(4) of the Enterprise Act 2002.The CMA’s statutory deadline is 13 May 2025. Parties • Boparan. (Boparan): Boparan (through 2Agriculture Ltd (2Agriculture)) is active in animal feed milling business specialising in the production of conventional (ie no-organic) compound poultry feed. 2Agriculture is part of a group of companies, which are active in food production and supply and are under the common ownership of Mr Ranjit Singh Boparan and Mrs Baljinder Kaur Boparan..• ForFarmers UK Limited (ForFarmers UK): ForFarmers UK is an indirectly owned subsidiary of ForFarmers N.V., a European animal feed producers, listed on the Euronext...

Interim injunctions—cross-undertakings in damages

Interim injunctions—cross-undertakings in damages STOP PRESS: On 6 April 2025, amendments to Part 25 of the Civil Procedure Rules (CPR 25) will come into force. For guidance on the changes to Part 25 and Practice Directions 25A and 25B, see Q&A: Where can I find information on the changes to Part 25 coming into force on 6 April 2025? This Practice Note provides guidance on the interpretation and application of the relevant provisions of the CPR. Depending on the court in which your matter is proceeding, you may also need to be mindful of additional provisions—see further Court specific guidance below. In particular, this Practice Note provides guidance on the undertaking in damages that must be given by an applicant seeking an interim injunction. For guidance on undertakings in interim injunctions generally, see Practice Note: Interim injunctions—undertakings. What is the cross-undertaking in damages and when is it given? Applicants for an interim injunction are required to give a particular undertaking to the court in all but a handful...

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Sustainability definitions (The Chancery Lane Project)

Sustainability definitions (The Chancery Lane Project) 1.5°C Aligned 1.5°C Aligned • [means that the level of ambition of [insert name of the organisation] targets to reduce GHG Emissions and its Climate Change Mitigation Measures are consistent with achieving the goal in Article 2.1(a) of the Paris Agreement to pursue efforts to limit the global temperature increase to 1.5°C above pre-industrial levels with little to no overshoot. OR means that [insert name of the organisation] targets to reduce GHG Emissions and Climate Change Mitigation Measures are aligned with scenarios that yield a long-term global warming outcome of 1.5°C above pre-industrial levels [with [60%] probability and [no OR less than 0.1%] overshoot]. ] 100% Renewable Energy and Renewable Energy Sources 100% Renewable Energy • means an energy system where all the energy used is sourced from Renewable Energy Sources. Renewable Energy Sources • means naturally replenishing non-fossil sources of energy, including but not limited to [regenerative biomasses (wood, municipal waste, biomass and landfill gas, ethanol, biodiesel), hydropower and tidal...

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No police duty to protect from third party harm—applying the Tindall principles (Chief Constable of Northamptonshire Police v Woodcock, HD and others v Chief Constable of Wiltshire Police)

PI & Clinical Negligence analysis: In this conjoined appeal, the Court of Appeal considered whether the police held a duty of care to protect Ms Woodcock and CJ from harm caused by a third party; and whether the police’s investigative duty, pursuant to Article 3 of the European Convention of Human Rights, can arise before the claimant has suffered ill treatment at the hands of a third party. This decision represents the first occasion upon which the Court of Appeal has been asked to apply the Supreme Court’s decision in Tindall v Chief Constable of Thames Valley Police and has provided some important points of practical application to practitioners in this area. Written by Jennie Oborne, barrister at Deka Chambers.

Competition weekly highlights—12 December 2024

This week's edition of Competition weekly highlights includes, from a UK perspective: (1) the CMA’s decision to launch an investigation into the construction and roofing sector regarding suspected bid rigging, (2) the CMA’s decision to launch a consultation on Vifor’s commitments to end its abuse probe into disparaging treatment in the iron treatment market, (3) publication by the CMA of an update report on the Rail, Road and Inland Waterway Transport Block Exemption, (4) the CMA’s phase 2 decision to conditionally clear Vodafone/CK Hutchison JV, (5) the Controlled Foreign Companies (Reversal of State aid Recovery) Regulations 2024 to enter into force on 31/12/2024, (6) publication by the CMA of new procedural rules and guidance for water references, and (7) publication by the DBT’s of two subsidy control principles assessment guides for public authorities. This week's highlights also includes, from an EU perspective: (1) the Court of Justice’s judgment in a national reference from Latvia concerning Article 101 TFEU restrictions in car warranties, and (2) the Commission’s announcement that it has...