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Data Privacy Newsletter - Issue 25 In this issue: Legal updates, case law update, regulatory guidance, enforcement overview, views from Brazil, Data Privacy at Slaughter and May
No requirement to accept non-contractual performance to overcome force majeure event: RTI v MUR Shipping The UK Supreme Court has held that the requirement on a non-defaulting party to use ‘reasonable endeavours’ to overcome a force majeure event does not require the non-defaulting party to accept an offer of non-contractual performance absent clear...
UK Listing regime reforms: FCA publishes final version of new Listing Rules The FCA has published the final version of the new UK Listing Rules (UKLR), which will come into force on 29 July 2024. Designed to help improve the appeal of the UK’s equity capital markets, the new rules represent the most far-reaching reforms of the...
Financial Regulation Weekly Bulletin - 11 July 2024
Non-financial misconduct: five things - updated In April 2024 we set out five things we are thinking about concerning non-financial misconduct (NFM) in the financial sector. Building on this theme, we recently brought together senior leaders from a range of financial sector firms to discuss...
EU AI Act to Enter into Force The EU’s AI Act will come into force on 1st August 2024. Cited by the Commission as the ‘world’s first comprehensive AI law’, The Act has caught the attention of organisations across the globe with its focus on responsible innovation, wide...
Ofwat publishes PR24 Draft Determinations 1. Introduction 1.1 On 11 July Ofwat published its Draft Determinations under Price Review 2024 (PR24), following a delay to the original timetable as a result of the UK General Election on 4 July 2024.
Podcast: Tax News: July 2024 In this podcast, Zoe Andrews and Tanja Velling discuss the Upper Tribunal’s decisions in the remuneration trust case Marlborough DP and the VAT classification case Innovative Bites. In considering the latter, Zoe and Tanja also touch on a recent IMF paper...
Corporate Update Bulletin - 11 July 2024 Corporate Update is our fortnightly bulletin highlighting the latest legal and regulatory developments of interest to corporates.
BLOG: Fourth tranche of Pillar Two Administrative Guidance: all clear for securitisations? Securitisation is a form of structured financing, whereby the credit risks associated with a specific pool of assets are segregated from the originators’ own credit risks. This is typically achieved by establishing a special purpose vehicle (SPV), which...
Hong Kong to Introduce a Company Re-domiciliation Regime Key points
A Labour Government – will it ‘Make Work Pay’? The UK General Election on 4 July 2024 resulted in the first Labour Government in 14 years. This in turn heralds the biggest reform of employment law for a generation. Labour’s proposals in their ‘Plan to Make Work Pay’ promise wide-ranging changes,...
Financial Regulation Weekly Bulletin - 4 July 2024 Includes developments in relation to: protection for whistleblowers; MiCA; cryptoassets; CRR; supervision of captive (re)insurance undertakings; BSPS complaints; and WCTR and the ‘travel rule’.
Money laundering: Now a never-ending chain? - R (World Uyghur Congress) v National Crime Agency The UK Court of Appeal has delivered an important judgment highlighting money laundering risks for companies, where they suspect forced labour or other human rights abuses in their supply chains. The Court disagreed with a widely held interpretation of...
DMCC Act ushers in a new age of consumer protection in the UK The Digital Markets, Competition and Consumers Act 2024 (DMCC Act) received Royal Assent on 24 May 2024, bringing in long-anticipated reforms aimed at forging a UK regulatory framework fit for the digital age.  The DMCC Act also introduces major...