Julian Hayes speaks to Compliance Week
BCL partner Julian Hayes is quoted in Compliance Week's
article titled ‘Don't count on European regulators to
relax rules during coronavirus crisis”.
Here's an extract from the article:
European businesses may be putting themselves at
risk because they mistakenly believe regulators are prepared to
loosen the rules, lower the compliance burden, and lessen
enforcement so companies can operate more easily as the coronavirus
pandemic lingers on.
Companies that deliberately flout the law to attempt
to gain market share are also unlikely to recoup costs or damages
from insurers. "Even where policy wording is sufficiently
broad to allow for claims for regulatory investigations, it has
long been a U.K. principle not to indemnify intentional
wrongdoing," says Julian Hayes, partner at law firm BCL
Solicitors. "Some regulators, such as the U.K.'s Financial
Conduct Authority (FCA), had previously reinforced this message
with an
