Publication
UK Carbon Border Adjustment Mechanism: how will it work?
In February, we reported on the Department of Energy Security and Net Zero’s confirmation that a UK Carbon Border Adjustment Mechanism (CBAM) would be bought into force by 2027
United Kingdom | Publication | January 2020
Financial institutions frequently face claims by their clients. In this article, we highlight a new argument originating in breach of contract claims by individuals against regulated firms and linked to the standard set out by regulatory rules.
Claims against regulated firms often involve allegations that the firm failed to give sufficient information about the risks of a transaction, or that it undertook to advise the client but failed to provide accurate advice, and they are based on misrepresentation, breach of contract, negligence and breach of fiduciary duty. Sometimes, they also include a claim for breach of FCA rules – in particular, damages for breach of statutory duty under section 138D of the Financial Services and Markets Act 2000 (FSMA).
In turn, a claim under section 138D usually relies on a breach of the FCA’s Conduct of Business Sourcebook (COBS), which has the status of delegated legislation. Reliance on COBS brings significant advantages for clients (especially retail clients who benefit from the highest level of protection), because of the specific obligations imposed on firms by the FCA. For instance, regulated firms have a duty to communicate in a way that is fair, clear and not misleading, a duty to consider the suitability of investments if the firm is providing investment advice, and a duty to disclose commissions.
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Publication
In February, we reported on the Department of Energy Security and Net Zero’s confirmation that a UK Carbon Border Adjustment Mechanism (CBAM) would be bought into force by 2027
Publication
International financial markets have started to show significant interest in nature and biodiversity. Whilst climate change and greenhouse gas emissions have made the headlines in recent years, there has been much less focus on their equally important counterparts, nature and biodiversity. However, that has started to change.
Publication
In April 2024, the UK Government published details of its sustainable aviation fuel mandate (the UK SAF Mandate) and launched a consultation on proposals for a revenue certainty mechanism to support UK sustainable aviation fuel (SAF) production.
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