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R (Greyhound Board of Great Britain Ltd) v Welsh Ministers [2026] EWHC 670 (Admin) What are the practical implications of this case? The ruling reinforces the constitutional divide between the courts and the legislature. It explains that the scheme and framework of the Government of Wales Act 2006 (GWA 2006) embody that separation of powers, and that any judicial attempt to recognise and enforce a common law obligation on Welsh Ministers to consult prior to introducing legislation in the Senedd would trespass upon that boundary. This is not a departure from established principle; case law has already upheld comparable rules for lawmakers in Scotland and at Westminster. However, this is the first express confirmation of the position for Welsh lawmakers, and the first time this dimension of the GWA 2006 has been analysed in such depth. The court examined earlier
The solution arrived through the United Nations Compensation Commission (UNCC), a quasi‑judicial body handling mass claims, created under UN Security Council Resolution 687. By addressing environmental harm—most notably via its ‘F4’ claim class—the UNCC set a seminal benchmark shaping how international law and contemporary arbitral panels allocate financial responsibility for wartime ecological devastation. With present-day wars in areas such as Eastern Europe and the Middle East bringing dam breaches, strikes on chemical facilities, and the burning of farmland, the UNCC’s legacy endures as an essential reference point for states, global investors, and companies engaged in post‑conflict arbitration. The F4 claims: Quantifying the unquantifiable Prior to the 1990s, mechanisms in international law for war reparations overwhelmingly favoured property loss, foregone earnings, and bodily injury. The natural world was commonly treated as a mute, non-compensable victim of armed hostilities...
Understanding the farming business as a business Many farms still use long-standing structures that arose by habit, not strategy. Sole traders, informal partnerships and outdated partnership deeds are common. While once effective, such setups can cause major issues around succession, tax planning and involving the next generation. A corporate team can take a fresh, business-led view of the farm, asking: Who owns the land and other critical assets? Who manages daily operations? Who carries the risk and who enjoys the return? What is the enduring plan for succession? From this review, the team can confirm whether the current setup is fit for purpose or if an alternative — for example an updated partnership agreement, a company, a limited liability partnership, or a blended model — would better meet the family’s aims. Tax efficiency through joined-up advice Tax sits at the centre of most
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The FLR The FLR took effect on 13 December 2024, with most rules applying from 14 December 2027. It bans economic operators from placing on the market, making available, or exporting from the EU any goods made with forced labour. The FLR adopts the International Labour Organisation’s 1930 Forced Labour Convention definition. Under Article 2, forced labour covers any work or service demanded from someone under the threat of a penalty where the person has not offered themselves freely. The FLR’s definition also explicitly captures compelled child labour. For these rules, an economic operator can be any person, company or undertaking, whether established in the EU or elsewhere. The ban spans all products, regardless of sector, origin, or whether production occurs inside or outside the EU. Enforcement will be carried out by competent authorities appointed by each Member State, which will...
The CBI has a process to allow in-scope AIFMs to secure authorisation for the new loan origination activity by 16 April 2026, the deadline for transposing AIFMD II into Irish law. Background AIFMD II establishes a harmonised framework for loan origination by AIFs and AIFMs across the EU, emphasising micro-prudential risks and investor protection. AIFMD II must be transposed into national law by 16 April 2026 and will apply to AIFs that originate loans, with extra requirements for ' Loan Originating AIFs' ( LO AIFs) whose principal strategy is lending or whose originated loans represent at least 50% of their net asset value. AIFMD II sets out rules that operate at the level of the AIFM as well as at the level of the AIF that originates loans......
EU financial services developments Commission adopts Delegated Regulation specifying RTS in relation to order execution policies of investment firms The European Commission has approved the definitive text of a Commission Delegated Regulation that lays down regulatory technical standards ( RTS). These RTS set out the factors to be considered when drawing up and evaluating the effectiveness of investment firms’ order execution policies under Mi FID II ( Directive 2014/65/ EU). It also annuls Delegated Regulations ( EU) 2017/575 and ( EU) 2017/576. The Delegated Regulation will take effect on the twentieth day after its publication in the Official Journal of the European Union. Source: Commission Delegated Regulation ( EU) .../... supplementing Directive 2014/65/ EU of the European Parliament and of the Council with regard to the regulatory technical standards specifying the criteria to be taken into account in establishing and assessing the...
What is the key regulatory update from the CMA’s press release on fake and misleading consumer reviews? On Friday 27 March 2026, the CMA revealed it has begun consumer protection enforcement against five UK firms over fake and deceptive online reviews, signalling one of the first deployments of its new powers under the Digital Markets, Competition and Consumers Act 2024 ( DMCCA 2024), in this area of consumer protection and online reviews enforcement. The probe currently covers Autotrader, Feefo, Dignity, Just Eat and Pasta Evangelists—covering the car sales, funerals and food delivery industries. At present, the CMA has not determined whether consumer law has been infringed. Under the DMCCA 2024, fabricated and misleading reviews are treated as an automatically unfair commercial practice. Responsibilities do not rest only with companies that solicit or reward reviews; they also apply to those that publish, host or...
A concise summary of the national discretions and the decisions taken by the Minister is outlined below. It should be noted that, at the time this client insight is issued, Ireland has not yet published measures to transpose CRD VI into Irish law, notwithstanding that the transposition deadline (10 January 2026) has already passed. In addition, whilst one of the national discretions relates to the new third country branch regime set out in Article 21c of CRD IV, there has been no formal indication from the Department regarding how Ireland will implement the Article 21c regime and any associated exemptions. Discretion in Article 91(1a) This discretion enables an EU Member State, under defined conditions, to permit the suitability assessment of members of the management body to take place after (rather than before) the newly appointed members have formally taken up their positions......
Domestic CBI publishes first edition of the Financial Crime Bulletin This twice-yearly bulletin is intended to share updates on key regulatory and supervisory developments across anti-money laundering, counter-terrorist financing ( AML/ CTF), financial sanctions, and fraud. It summarises recent activity in these areas. The topics covered in the inaugural issue included: risk assessment CBI’s sectoral and firm-specific risk assessments CBI risk evaluation questionnaires monitoring and review of risk assessments crypto-assets and payments fraud and scams financial sanctions the 2024 thematic review international card schemes the EU AML package CBI publishes roadmap to deliver a more effective and efficient regulatory framework The CBI roadmap sets out a multi-year programme of initiatives across four areas: supervision, regulation, gatekeeping, and reporting and data. Across these four areas, the CBI aims to reduce regulatory complexity and improve clarity, while...
The existing regime, made up of tariff-rate quotas spanning 26 product groups, is due to lapse at the end of June 2026. EU negotiators are slated to meet next week to try to secure a political deal on a refreshed steel safeguard. Amendments to the rules are being proposed because rebar (reinforcing steel for concrete) has been entering the EU not only through the rebar quota, listed as product category 13, but also, since last year, in notable volumes via the ‘merchant bars’ quota, classified as product category 12......
What was the background? The reclaiming motion— Scotland’s term for an appeal—came before the Inner House of the Court of Session and related to Greater Glasgow Health Board’s ( GGHB) damages claim against Multiplex Construction Europe Ltd ( Multiplex) and others, said to arise from alleged defects in constructing the Queen Elizabeth University Hospital in Glasgow. The initial focus was the aluminium composite material cladding in the atrium, which GGHB contended had been installed contrary to contractual requirements. Multiplex denied liability and, in any event, maintained that any obligation to make reparation to GGHB had been extinguished by prescription under PL( S) A 1973, s 6(1). After a preliminary proof on prescription, the commercial judge concluded that the five-year prescriptive period began at practical completion in January 2015 and that GGHB’s action, raised in March 2022, had prescribed. He rejected GGHB’s reliance on PL( S) A...
Mergers DCMS publishes correspondence regarding the anticipated acquisition of Daily Telegraph; Secretary of State not minded to intervene The Department for Culture, Media & Sport ( DCMS) has issued correspondence that outlines the Secretary of State’s initial stance on the proposed purchase of Telegraph Media Group Holdings Limited by Axel Springer......
Asset Management & Investment Funds: EU & International Developments— January 2026 Revised guidelines on LMTs under AIFMD and UCITS Directive ESMA has issued a report setting out an updated iteration of its guidelines on liquidity management tools ( LMTs) for UCITS and open-ended AIFs. The guidelines explain how managers should choose and calibrate LMTs having regard to the fund’s investment approach, liquidity characteristics and redemption arrangements. They give effect to mandates in Article 18(a)(4) of the UCITS Directive and Article 16(2)(h) of the AIFMD, each as amended by AIFMD II. ESMA released a final report on the guidelines in April 2025, alongside a final report containing regulatory technical standards ( RTS) on LMTs. In November 2025, the European Commission adopted delegated regulations for these RTS ( AIFMD RTS and UCITS RTS), which introduced modifications to ESMA’s proposed texts. To align the guidance with the RTS...
Financial services developments FCA sets out open finance roadmap to 2030 The Financial Conduct Authority ( FCA) has outlined its vision for open finance to 2030, stating that in 2026 it will work with industry, consumer groups and other regulators to shape a set of practical open finance use cases. It will also partner with HM Treasury to assess options for a regulatory framework for open finance by the end of 2027. Firms that already have data access and the necessary permissions will be supported to bring open finance products to market sooner. The FCA plans to consult on its proposed long-term regulatory framework for open banking before the end of 2026. In 2026, the FCA will collaborate to set priorities for what open finance should deliver. This will involve: prioritising high-impact use cases that can deliver benefits quickly, starting with lending to SMEs and...
Garipoglu and GKPay v The Financial Conduct Authority [2026] UKUT 121 ( TCC) What are the practical implications of this case? This decision is of immediate and direct significance to financial services professionals who counsel clients confronted with FCA enforcement action and contemplating a reference to the Upper Tribunal. The judgment confirms a robust presumption that decision notices should be published once the reference proceedings have commenced. That presumption flows from the open justice principle, which covers documents in the context of proceedings and not only hearings, and from FSMA 2000, 391. Consequently, advisers should tell clients from the outset that the hurdle to prevent publication is a demanding one. The Tribunal was unconvinced that American Cyanamid supplies the correct framework for Rule 14 non-publication applications, concluding instead that the balancing exercise starts with the scales already heavily tilted towards...
Mergers The Commission approved the purchase conferring joint control of Kelda Holdings Limited to EQT Fund Management S.à r.l., Epsom Investment Pte. Ltd, and Nubia Investment Pte.......
The Upper Tribunal has dismissed Stephen Grant Forster's application to overturn the ban imposed by the Financial Conduct Authority ( FCA). On 7 April 2026, the panel determined that harassment by a stalker and serious health issues did not excuse, or diminish, non-adherence to his regulatory obligations. In its written reasons, it found the penalty to be a measured and proportionate reaction to his 'complete and persistent non-compliance'. The decision records, in clear terms, that it fully accepts the FCA's submissions that personal difficulties, even grave ones, cannot explain the complete failure to file even a single return over such a prolonged period, particularly where the FCA repeatedly sought to enable compliance and limited its requests to the most recent set of returns. Forster had been advising clients as a sole trader trading as Premier Research and Marketing since the 1990s,...
Corporate Rescue and Insolvency The newest issue of Corporate Rescue and Insolvency ( April 2026) is now accessible via Lexis +® UK (subscription necessary)......
State aid Commission consults Member States on proposal for a Temporary Crisis Framework Commission President Ursula von der Leyen set out steps to lessen the impact of Middle East developments on EU energy prices and EU economies. Joint gas purchasing Demand reduction Structural reforms She also signalled that the Commission will engage with Member States on making State aid rules more flexible to help vulnerable sectors, with a temporary framework planned for adoption in April 2026......
The High Court ruled on 7 April 2026 that Kession must be wound up and its assets liquidated for the benefit of creditors after concluding that there was no good reason to keep the company in administration Judge Joseph Curl found that the administrators, Lloyd Edward Hinton and Kelly Knight, had put forward a plan to retain the company in administration in order to pay an £800 sum to the firm's director and controlling shareholder, Michael Kessler, for unpaid wages, which he described as 'tenuous from the outset'. He stated that no case had been made, linked to the statutory purposes of administration or the collective interests of the creditors, that could survive rational scrutiny to justify the company remaining in administration......
Domestic CBI publishes first edition of Payment and E- Money Newsletter The newsletter aims to deliver updates on significant regulatory developments across the payments and e-money sectors and to signpost relevant forthcoming changes. Topics featured in the newsletter include: Safeguarding thematic inspection — the CBI shares findings from a thematic examination of safeguarding across payment institutions ( PIs) and e-money institutions ( EMIs). The assessment considered the operational effectiveness of safeguarding procedures and the robustness of control frameworks within those firms Customer service — following an evaluation of customer experience through the lens of complaints, the CBI sets out its expectations for customer service, including in the context of the updated Consumer Protection Code ( CPC) Fitness and probity — the CBI reminds PIs/ EMIs: of the obligation to appoint a...
R ( Greyhound Board of Great Britain Ltd) v Welsh Ministers [2026] EWHC 670 ( Admin) What are the practical implications of this case? The ruling reinforces the constitutional divide between the courts and the legislature. It explains that the scheme and framework of the Government of Wales Act 2006 ( GWA 2006) embody that separation of powers, and that any judicial attempt to recognise and enforce a common law obligation on Welsh Ministers to consult prior to introducing legislation in the Senedd would trespass upon that boundary. This is not a departure from established principle; case law has already upheld comparable rules for lawmakers in Scotland and at Westminster. However, this is the first express confirmation of the position for Welsh lawmakers, and the first time this dimension of the GWA 2006 has been analysed in such depth. The court examined earlier...
Mergers The CMA has issued its call for comments in relation to the anticipated purchase of Warner Bros. by Paramount Skydance Corporation...
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When evaluating a general damages claim, the practitioner ought initially to refer to the Judicial College Guidelines (JCG)...
This Practice Note This Practice Note reviews mechanisms used in settling litigation. A Tomlin order consists of a consent order paired with a schedule. It operates to stay proceedings on terms that have been agreed. The provisions contained in the schedule may remain confidential. This Practice Note describes the scope of confidentiality attaching to the schedule and sets out how it differs from a standard consent order. Sample wording for a Tomlin order is included, alongside links to precedents, as well as guidance on court approval. It also addresses varying, setting aside and enforcing a Tomlin order, including the considerations the court will take into account when handling applications for each. Further guidance is provided on interpreting and applying the relevant provisions of the CPR; however, some courts and divisions impose very specific requirements for both drafting and approval, and for approaching the schedule and confidentiality issues. Accordingly, you must consider the particular rules and court guide provisions in the forum where your claim is proceeding when drawing up the Tomlin order...
Date [ date ] Parties [ name of Landlord ] [ of OR incorporated in England and Wales (company registration number [ number ]) with its registered office at ] [ address ] (Landlord) [ name of Tenant ] [ of OR incorporated in England and Wales (company registration number [ number ]) with its registered office at ] [ address ] (Tenant) [ [ name of Guarantor ] [ of OR incorporated in England and Wales (company registration number [ number ]) with its registered office at ] [ address ] (Guarantor) ] [ [ name of Mortgagee ] [ of OR incorporated in England and Wales (company registration number [ number ]) with its registered office at ] [ address ] (Mortgagee) ] Definitions Within this Deed, the terms below shall be interpreted as follows: [ Annual Rent • the annual sum reserved under the Lease; ] [ Insurance Rent • the Tenant’s share of the Landlord’s costs of insuring the Property (as set out in the Lease); ] Lease • the lease of the Property dated [ date ], entered into between (1) [ the Landlord OR [ name ...
I, [ name ], of [ address ], solemnly and sincerely state that: [ Matters to be verified, set out in numbered paragraphs ] I make this solemn statement in good conscience, believing it to be true, and pursuant to the provisions of the Statutory Declarations Act 1835. DECLARED at [ details ] this [ day ] day of [ month and year ] Before me ................................................................................ [ signature of the person before whom the declaration is made ] A [ commissioner for oaths OR [ solicitor OR [ insert other qualification ] ] authorised to administer oaths ]...
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