Legal News

On 15 December 2025, EY warned that insurers are likely to post losses in 2026, with profitability pressured by falling premiums and escalating claims expenses, as margins continue to be squeezed. Across most of the last 12 months, the industry has cut premiums, after near record consumer price levels led the government to open a formal inquiry. EY added that motor insurers recorded a net combined ratio of 97% in 2024. The combined ratio gauges underwriting performance: below 100% denotes profit, while anything above implies a loss for insurers......

Antitrust Court of Appeal refuses permission to appeal High Court judgment dismissing competition damages claim against MGA for lack of causation The Court of Appeal issued its judgment in Cabo Concepts Limited and another v MGA Entertainment ( UK) Limited and another, on an application by Cabo Concepts Limited ( Cabo) for permission to appeal against a High Court order that had dismissed its action against MGA Entertainment ( MGA). The High Court had dismissed the competition damages claim for lack of causation. Background MGA is a leading toy manufacturer. In 2017, Cabo introduced its Worldeez collectable toy range, presenting it as a travel‑themed alternative to MGA’s hugely successful LOL Surprise! brand. Having approached UK retailers, Cabo struggled to obtain meaningful orders from them. It subsequently alleged that MGA had undermined the launch by asserting that the Worldeez globe design infringed LOL Surprise! and by...

Aga Rangemaster Group Ltd convinced the Court of Appeal to dismiss UK Innovations Group Ltd’s claim that there was no alternative way to describe its converted products. Writing for the three-judge panel, Justice Colin Birss said nothing about the retailer’s e Control Aga label was unavoidable or required. He added that simply because UK Innovations Group named its system ‘e Control’ did not grant a carte blanche to pair that word with Aga. The court further threw out the company’s contention that High Court Judge Nicholas Caddick KC’s 2024 finding—that the branding implied the e Control system came from Aga—was ‘rationally unsupportable’. Birss J rejected that characterisation, stating it was nothing of the sort and that, on the materials before the court, he would have reached the same result as Judge Caddick......

In the matter of an application by the Secretary of State for Northern Ireland for Judicial Review ( Appellant) [2025] UKSC 47 Background This appeal addresses the proper approach to be taken when a court reviews, by way of judicial review, a coroner’s decision to disclose gists of information where Public Interest Immunity ( PII) has been claimed by a Minister acting on behalf of the Crown. The question is the criterion to be applied by the court when scrutinising such disclosure decisions. PII arises when an aspect of the public interest indicates that evidence which would otherwise be relevant and admissible in legal proceedings ought not to be revealed or placed in the public domain, and so must be treated as inadmissible, or only permitted in the condensed form of a gist capturing the information in the evidence. In this appeal, a...

A30 & others v E30 & others [2025] ADGMCA 0003 What are the practical implications of this case? This decision is notable for arbitration practitioners in ADGM and users of the LCIA Rules, as it settles an enduring friction between contractual arbitration rules and the court’s supervisory role at the seat, for three reasons. First, it sets a definitive hierarchy: for ADGM-seated arbitrations, the peremptory provisions of the ADGM Arbitration Regulations 2015—most importantly section 31 on interim measures—take precedence over restrictive institutional rules. Practitioners may now apply to the ADGM Court for urgent without-notice freezing orders even after a tribunal has been constituted, without concern that omitting prior tribunal authorisation under LCIA Rule 25.3 will be treated as a breach. The Court confirmed that a tribunal’s inability to grant without-notice relief means it is “for the time being unable to act...

New Risk & Compliance forecast as at 16 December 2025 Our Risk & Compliance forecast dated 16 December 2025 monitors proposed regulatory developments across risk and compliance, bringing them together to help you prepare for any updates that may affect your organisation. Please examine it thoroughly; however, for ease, we have signposted a few matters that ought to be on your radar below. New items we’re tracking this month ICO guidance on lawful basis—the ICO plans to release, in winter 2025/26, refreshed guidance on lawful basis to address DUAA 2025 changes......

Corporate criminal liability expands: Failure to prevent fraud The most significant shift in corporate crime in recent years is the Economic Crime and Corporate Transparency Act 2023 ( ECCTA 2023), which has reshaped the doctrine of corporate criminal liability. In September 2025, the new offence of failure to prevent fraud was enacted. Under this offence, an organisation can be criminally liable where an employee, agent, or other ‘associated person’ commits fraud intending to benefit the organisation, and the organisation lacks reasonable fraud prevention procedures... The offence applies only to large organisations across all sectors that meet two of the following: more than 250 employees more than £36m turnover more than £18m in total assets ECCTA 2023 defines ‘associated person’ broadly. It can include an employee, agent, subsidiary, or anyone providing services to the organisation. For the offence to bite, the...

Question of the week: A and B owned property as tenants in common. On A’s death, his interest in one property passed to C, and his interest in the other went to D and E. B has now lost capacity, but there is a registered lasting power of attorney appointing C and D as attorneys. Can C and D, acting for B, transfer the legal title so the first property stands in the joint names of B & C, and the second is held by B, D and E? See Q& A: A and B held property as tenants in common. After A died, his share in one property was left to C and his share in another was left to D and E. B lacks capacity, yet a registered lasting power of attorney names C and D as B’s...

This has had a significant impact on European businesses and the lawyers representing them. In this article, we examine the implications arising from recent developments across the UK and EU sanctions frameworks and assess what further changes may credibly be expected in the near future. Measures aimed at Russia under UK and EU regimes have multiplied markedly since the invasion of Ukraine in February 2022, creating a far denser compliance landscape. Consequently, the body of legislation practitioners must master to advise clients effectively in this area has grown markedly, requiring deeper familiarity to advise clients properly in this field. Before hostilities began, the UK’s Russia-focused regulations, introduced in 2019 as part of the UK’s exit from the EU, comprised only 64 pages in total at that time. Amendments over the past three and a half years have expanded that to 529 pages in...

What are the practical implications of this case? Creditors across Commonwealth systems—especially in the UK—may now opt, with assurance, for either of two distinct routes: enforcing an arbitral award directly under the AA (ss 38–39) or registering a court confirmation of the award under the REJA 1958. Selecting the REJA 1958 pathway does not widen the avenues of attack when compared with the AA: section 5 sets out six grounds that replicate Article V defences under the New York Convention, whilst sidestepping the full AA ss 37–39 machinery. For litigators, an application under the REJA 1958 will not engage the AA’s complete review regime; it proceeds on its statutory footing. Courts will not import AA provisions into REJA 1958 proceedings. Section 5’s six defences remain the sole bases to set aside, yet they can extend to scrutiny of the underlying arbitral award, and not merely the...

Chevron Corporation, et al v The Republic of Ecuador, No 2009-23, PCA Fourth partial award accessible. Document 05-251223-042A. Partial dissent accessible. Document 05-251223-043Z. The tribunal’s award, running to over 1,000 pages, was dated 17 November and made public online on 9 December. The panel consisted of Professor Albert Jan van den Berg as president, Dr Horacio A. Grigera Naón, appointed by the US claimants Chevron Corp. and Texaco Petroleum Co., and Professor Vaughan Lowe KC, appointed by Ecuador. Rainforest drilling In 1993, a number of Ecuadorian residents brought proceedings against Texaco Inc. and its subsidiary Texaco Petroleum Co. ( Tex Pet) in the US District Court for the Southern District of New York, seeking compensation for pollution in the Oriente area of the Amazon rainforest. They alleged the contamination stemmed from oil operations conducted between 1964 and 1992. The case was dismissed on forum non...

EU financial services developments SRB publishes expectations on valuation for banks in crisis The Single Resolution Board ( SRB) has issued modernised expectations on valuation for banks in crisis, stating that institutions should hold high-quality datasets to enable swift valuation in the event of failure and bolster crisis preparedness. These expectations supersede guidance released in 2020, with banks asked to progressively implement them by the end of 2029. The final package reflects substantial input from a public consultation conducted between April and July 2025. In response, and consistent with its simplification efforts, the SRB has pared back and refined the framework by: reducing certain documentation and data attributes removing the requirement for continuous access to data repositories for resolution clarifying how valuation playbooks should be used A feedback statement explains how the comments received were addressed......

Consult Practice Note: Strategic considerations relating to the issue of protective proceedings. For an overview of claims by an insolvent estate or its insolvency office-holder, see: Claims by an insolvent estate or its insolvency office-holder—overview......

Finalised guidance from the watchdog on 12 December 2025 dispels worries that professionals' private lives or minor indiscretions would be examined by the regulator. It states such behaviour is 'entirely out of scope' of the FCA's authority over individuals and beyond its remit. The measures also align what is expected of managers more closely with employers' existing obligations to prevent harassment in the workplace. In addition, the guidance introduces a 'reasonable steps' defence for managers, enabling them to avoid personal liability for misconduct by staff who report to them. Yet lawyers said the City watchdog's announcement introduces uncertainty for firms and individuals. The regulator has declined to define what constitutes 'non-financial misconduct', while signalling that more professionals will fall within the reach of its rules. The FCA also rejected requests to give examples to demonstrate how the new standards will operate. ' No...

Antitrust CMA publishes case study regarding its investigation into 10 construction firms who breached competition by rigging bids for contracts The CMA has issued a comprehensive case study stemming from its investigation into 10 construction firms, which were fined over £60m for breaching the Chapter I prohibition of the Competition Act 1998 by engaging in cover bidding within demolition and asbestos-removal tenders. These breaches, occurring between 2013 and 2018, impacted 19 contracts valued at more than £150m across both public and private clients. Every firm colluded at least once to lodge a knowingly losing tender—either by inflating prices or offering an inferior service—and four directors were disqualified for a combined period approaching 25 years. In its reflections, the CMA stresses that businesses must not: Agree to submit or alter bids so a competitor can ‘win’, or accept any compensation for doing so; Enter...

The proposals With no further guidance from the government on how corporate defendants would be tried under these proposals, we are, for the time being, left to compare and contrast its announcements with the recommendations set out in the report ( Independent Review of the Criminal Courts: Part 1). Sir Brian suggested replacing the defendant’s option to elect a jury trial with the following measures: Establishing a new Crown Court Bench Division ( CCBD), comprising a judge and two magistrates, to which any either-way case could be allocated for hearing and disposal, with hearings convened in ‘any available courtroom’. Using judge-only trials for ‘serious and complex fraud’ cases, and permitting judges to direct their use in any matter of ‘anticipated length or complexity’, as circumstances warrant. Sir Brian further indicated that the threshold for identifying a ‘serious and complex’ fraud could encompass instances where...

What is the background to the forthcoming OGPM announced at Budget 2025? The EPL was brought in during 2022 as a temporary windfall levy to capture exceptional profits generated by high oil and gas prices, themselves prompted by turbulence in global markets, including the Russian invasion of Ukraine. It was meant to conclude in 2025 but has been extended more than once. As part of planning for its termination, the government sought a longer-term framework to ensure the tax system can react to price shocks once the EPL ends. The OGPM embodies that framework. A consultation opened in spring 2025 and, at Budget 2025, the government confirmed it would proceed with the OGPM and set out further details of the measure. What is the OGPM? The OGPM will operate as a revenue-based charge of 35% on receipts above a defined threshold. It will apply where a...

A fresh consultation on revisions to the NPPF and associated planning reforms was issued on 16 December 2025 by the Ministry of Housing, Communities and Local Government ( MHCLG). Entitled ‘ National Planning Policy Framework: proposed reforms and other changes to the planning system’, it invites feedback on a draft replacement NPPF, together with a package of measures covering: data centres and on-site energy generation standardised viability inputs site thresholds The consultation runs until 11:45pm on 10 March 2026 and applies to England only. Further, more granular commentary on particular elements will be provided in due course, including detailed analysis of specific parts. What is the background to the consultation? The NPPF first appeared in 2012 and has undergone multiple revisions. The Labour government issued a refreshed NPPF in December 2024 after consulting on a set of proposed amendments over the summer. That 2024...

One of the SRA’s priorities in its ten-week consultation is tightening the framework for accountants’ reports to strengthen the watchdog’s oversight, enabling it to better detect when law firms put client money at risk. In this strand, the SRA suggests a compulsory yearly declaration, requiring every law firm to keep a compliance record, together with a new obligation for accountants to submit reports directly to the watchdog in future. These measures are designed to enhance oversight and help the watchdog pinpoint when client funds are at risk. The watchdog has proposed bringing in fixed financial penalties for law firms that submit declarations late or provide them in an incomplete form......

EU financial services developments ESMA publishes RTS on derivatives transparency and the OTC derivatives tape The European Securities and Markets Authority ( ESMA) has issued its Final Report addressing mandates from the Mi FIR Review on trading transparency for derivatives, package orders, and the over-the-counter ( OTC) derivatives consolidated tape ( CT) input and output data. ESMA has delivered the report to the European Commission, which will then have three months to decide whether to endorse the proposed regulatory technical standards ( RTS). The rules are anticipated to apply from 1 March 2027. The envisaged pre- and post-trade transparency obligations for exchange-traded derivatives ( ETDs) and OTC derivatives seek to maximise transparency whilst ensuring that liquidity providers are not exposed to disproportionate risk under the proposed regime......