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The High Court has issued groundbreaking guidance on legal advice privilege for corporations, fundamentally challenging the conventional understanding established by Three Rivers (No.5).

The Financial Conduct Authority has released a series of regulatory updates and priorities for the investment management sector, introducing new operational resilience requirements, reforming advice market rules, and modernizing the redress system. These developments signal significant changes in how firms must approach consumer protection, operational incident reporting, and third-party arrangements while balancing growth objectives with regulatory compliance.

A new referral to the Court of Justice of the EU will once again consider what is meant by the “first marketing authorisation” requirement of Article 3(d) of the EU medicines SPC Regulation. Specifically, the CJEU has been asked to clarify whether a veterinary marketing authorisation (MA) for a medicine can be considered the “first” MA for SPC purposes when there has been a prior MA for the same product as a human medicine.