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Post Capita and Zellis, how do you manage cyber supply chain risk? The recent Capita, MOVEit and Zellis cyber attacks are another reminder of the importance of considering supply chain risk as part of your cyber preparedness plans. Traditionally this has been a blind spot for many organisations. Few were monitoring their...
Crypto Promo - Slow Mo The FCA has today published a policy statement and near final rules regarding the promotion of cryptoassets. Absent any unforeseen events, these will come into force on 8 October 2023. The rules take much the same shape as those consulted on by the FCA in...
Hargreaves Property Holdings v HMRC: Beneficial entitlement and “yearly” interest The Upper Tribunal’s decision is a helpful ‘back-to-basics’ on the nature and purpose of the provisions on withholding tax on interest income and a good reminder that the courts are becoming increasingly comfortable with leveraging the Ramsay principle...
UK Government’s White Paper on AI Regulation Gets Stamp of Approval from CMA It’s good to get a gold star on your homework, particularly when that homework relates to the future of AI regulation in the UK. On 1 June 2023, the CMA responded to the UK government’s consultation on its white paper AI Regulation: A Pro-Innovation...
Cooperation, Dialogue, Divergence: The Future UK-EU Relationship in Financial Services Regulatory dialogue between the EU and the UK is set to resume officially with the adoption by the European Commission of a draft Memorandum of Understanding (MoU) establishing a framework for structured regulatory cooperation between the parties in...
And what about Brexit? During a debate on the Spring Finance Bill, Gareth Davies, Exchequer Secretary to the Treasury, emphasised the UK government’s intention to take “full advantage of the opportunities arising from the UK’s exit from the European Union”, and to “make the...
National merger reviews under the microscope: insights from digital and tech mergers assessed by competition authorities in the EU Earlier this year, the European Commission published a report that provides an overview of how national competition authorities (NCAs) across the EU have approached mergers in digital and technology markets in recent years. The report sets out the...
Blackjack, Poker and... Crypto? This post was prepared with Alice Gordon, Financial Regulation knowledge paralegal. All bets are off for the cryptoasset (‘crypto’) industry following publication of the House of Common’s Treasury Committee report on Regulating Crypto last week. The...
TikTok: Why the ICO fined them £12.7m On 4 April 2023, the ICO fined TikTok Ltd and TikTok Inc £12.7 million for breaching the UK GDPR. This represents over a 50% reduction from the £27m fine included in their September 2022 notice of intent. The ICO’s press release explains this reduction...
Transparency and generative AI – opening the black box? As generative AI continues to dominate headlines, one aspect that governments and regulators across the world are trying to grapple with is how best to balance the rights of AI developers and IP rights holders. With real-world disputes starting to come...