Expert Analysis

• Reviewing EU Competition Policy 1 Year After Draghi's Report

  

  Implementation of the Mario Draghi report’s proposals to revamp European Union competition policy is currently case-specific, making it less visible, and more needs to be done in the way of merger review and antitrust enforcement, say lawyers at Linklaters.

• 5 Ways To Address The Legal Risks Of Employee AI Use

  

  Employees’ use of unauthorized artificial intelligence tools has become a regulatory issue, and in-house legal counsel are best placed to close the gap between governance controls and innovation, mitigating the risk of organizations' exposure to noncompliance with European Union and U.K. data protection requirements, say lawyers at MoFo.

• Opinion

  New US-UK Tech Deal Offers Opportunities To Boost Growth

  

  The recently announced U.S. and U.K. Technology Prosperity Deal, encouraging businesses on both sides of the Atlantic to work together toward technological advance, will drive both investment in U.K. capabilities and returns for U.S. investors, says Peter Watts at Hogan Lovells.

• What Draft AML Reforms Mean For UK Financial Sector

  

  HM Treasury’s recently published draft regulations amending the U.K. Money Laundering Regulations, although not as material as expected, are a step toward a targeted risk-based approach, which the industry will welcome, say lawyers at Ropes & Gray.

• What Key EU Data Ruling Means For Cross-Border Transfers

  

  The European Union Court of Justice’s recent judgment in European Data Protection Supervisor v. Single Resolution Board takes a recipient-specific approach concerning pseudonymized information, but financial services firms making international transfers should follow the draft EU Data Protection Board guidelines’ current stricter approach, says Nathalie Moreno at Kennedys Law.

• EU-US Data Transfer Ruling Offers Reassurance To Cos.

  

  The European Union General Court’s recent upholding of the EU-U.S. Data Privacy Framework in Latombe v. European Commission, although subject to appeal, provides companies with legal certainty for the first time by allowing the transfer of European Economic Area personal data without relying on alternative mechanisms, say lawyers at Wilson Sonsini.

• Supreme Court Ruling Stands Firm On Trust Law Principles

  

  The U.K. Supreme Court’s recent strict application of trust law in Stevens v. Hotel Portfolio may render it more difficult for lawyers in future cases to make arguments based on a holistic assessment of the facts, says Olivia Retter at Quinn Emanuel.

• FCA's Woodford Fine Sends Warning To Fund Managers

  

  The Financial Conduct Authority’s recent decisions concerning Neil Woodford and the collapse of Woodford Investment Management mark an important moment for the U.K. investment industry, underscoring the regulator's focus on senior managers' personal accountability and the importance of putting investors’ interests at the heart of decision-making, say lawyers at Irwin Mitchell.

• How Data Use Act Tightens Complaint Handling Procedures

  

  Recently effective Data Use Act procedural requirements are coinciding with an artificial intelligence-driven increase in complaints from users about data subject access request responses, so organizations need to formalize their grievance process to prevent intervention by the Information Commissioner's Office and potential penalties, say lawyers at Womble Bond.

• UK Supreme Court Dissent May Spark Sanctions Debate

  

  While the recent U.K. Supreme Court's rejection of Eugene Shvidler’s appeal determined that sanctions decisions are primarily the government’s preserve, Justice Leggatt’s dissenting view that judges are better placed to assess proportionality will cause ripples and may mark a material shift in how future appeals are approached, say lawyers at Seladore.

• What EBA Report Means For Non-EU Financial Firms

  

  In a recent report concerning unregulated third country banks, the European Banking Authority decided not to extend a bank-to-bank exemption under the Capital Requirements Directive, raising a number of compliance issues for cross-border services, say lawyers at A&O Shearman.

• HMRC's Automation Shift Likely To Alter Tax Adviser Role

  

  HM Revenue & Customs’ recently released digital transformation road map promises greater efficiency and a modernized compliance regime, but the increased automation could also mean that the tax adviser role will become more proactive and more defensive, say lawyers at RPC.

• What UK's New Prosecution Guidance Means For Compliance

  

  Recent guidance from the U.K.'s Serious Fraud Office and Crown Prosecution Service, aligning their approach with the Economic Crime and Corporate Transparency Act, offers a timely prompt for corporate boards and legal teams to update their risk management frameworks, say lawyers at Signature Litigation.

• Viral Comms Crises Create Dual Corp. Governance Threats

  

  As legislative hearings increase in frequency and social media fuels their reputational impact, corporate legal teams face a new dual challenge that reflects a fundamental shift in accountability and demands new strategies, governance frameworks and organizational capabilities, says Joanna Ludlam at Jenner & Block.

• How AI May Have Made A Difference In Monzo Bank Breaches

  

  Artificial intelligence tools have the capabilities needed to keep pace with increasingly sophisticated threats, and such tools might have helped prevent the anti-money laundering failures that led to the recent £21.1 million fine against Monzo Bank, says Alexander Vilardo at Howard Kennedy.