Jonathan Barnett

Legal professional privilege may be a cornerstone of English law and a vital protection for a business caught up in a dispute, but privilege can be all too easily lost. Meanwhile, the rapidly changing legal landscape means that staying on top of the latest developments and issues is increasingly challenging, particularly for busy in-house counsel.

On 22 December 2025, the FCA published a First Supervisory Notice (the Notice) imposing a number of immediate, wide ranging restrictions on Advantage Wealth Management Ltd (the Firm). The restrictions effectively prevent it from carrying out any further business by, amongst other things, restricting it from carrying out any regulated activities without consent from the FCA.

In Brief The High Court has clarified requirements for ATE policy wording to ensure adequate protection for defendants facing adverse costs, including explicit anti-avoidance provisions covering fraud by any person. The judgment approved policy terms requiring insurer consent for cost agreements and clarified how the policy limit should account for sums paid or owed by the insurer.