Expert Analysis

• Hard Insurance Market Will Influence Legal Industry, Economy

  

  As the cost of claims starts to outstrip the value of premiums, insurers are denying more claims and considering scaling back coverage, leading to an influx of legal work and potential holes in the market, says Bruce Hepburn at Mactavish.

• Digital Nomads: Key Considerations For Global Businesses

  

  As employers and employees embrace remote, location-independent work arrangements enabled by technology, they must be mindful of the employment law and tax consequences such arrangements may trigger, say Hannah Wilkins and Audrey Elliott at Eversheds Sutherland.

• Navigating Newly Expanded English Jurisdictional Gateways

  

  With a recent significant change, the English courts' territorial jurisdiction is now primarily controlled by the question of whether England is the proper place to bring the claim, so parties to cross-border disputes seeking to resist the jurisdiction of the English courts should focus their arguments on this battleground, say Antony Corsi and Gill Davy at Norton Rose.

• New License Eases Sanctioned Clients' Legal Fee Payments

  

  The general license recently issued by the U.K. Office of Financial Sanctions Implementation permitting the payment of legal fees owed by a sanctioned company or individual will potentially reduce the agency's backlog and is welcome news for both lawyers and OFSI staff, say Zulfi Meerza and Syed Rahman at Rahman Ravelli.

• Preparation Is Key To Businesses Minimizing Cyber Breaches

  

  A recently published report by the U.K. Department for Digital, Culture, Media and Sport on organizational experiences of cybersecurity breaches highlights the importance of having breach response policies in place and being able to demonstrate that reasonable preventive and risk management steps were taken, says Lawson Caisley at White & Case.

• Scope Of Brexit Freedoms Bill Unclear For Financial Services

  

  The revocation provisions of the recently published Brexit Freedoms Bill do not apply to legislation affected by the Financial Services and Markets Bill, and the complex overlay between the two pieces of legislation may lead to uncertainty for the financial services industry, say Barney Reynolds and Thomas Donegan at Shearman.

• UK Policyholders Can Expect Better COVID Claims Handling

  

  The U.K. Financial Conduct Authority recently outlined some best practices for COVID-19 business interruption claims handling, which, along with recent High Court of Justice decisions, will likely lead to faster claims handling and clearer insurer communication, say Gurpreet Sanghera and Charlie Edwards at Simkins.

• EU Basel III Bank Reforms May Weaken Securities Market

  

  Recent proposals from the Council of the European Union's review of Basel III bank capital regulatory reforms did not adopt substantive changes urged by the market for the securitization framework, and may have a dampening effect on the competitiveness of European securitizations, say attorneys at Hogan Lovells.

• What To Expect From EU's Data Governance Act

  

  The European Commission's Data Governance Act, which will go into effect next September, marks a clear step forward for data regulation in the EU, but some confusion remains regarding which companies will be considered data intermediation services, say attorneys at Pierstone.

• FCA Holds The Cards Where Redress Schemes Are Concerned

  

  The recent U.K. High Court Amigo Loans decision shows the Financial Conduct Authority's willingness to engage with a proposed redress scheme or oppose it where necessary, and highlights the agency's unique power to allow business to continue in these cases, say Frances Coulson and Christopher Burt at Wedlake Bell.

• Series

  My Favorite Law Prof: How I Learned To Argue Open-Mindedly

  

  Queens College President Frank Wu reflects on how Yale Kamisar’s teaching and guidance at the University of Michigan Law School emphasized a capacity to engage with alternative worldviews and the importance of the ability to argue for both sides of a debate.

• EU Regulation Aims To Bring Confidence To Crypto Market

  

  The Markets in Crypto Assets Regulation, recently approved by the European Council, aims to increase confidence in crypto-assets by bolstering consumer protection, and as a pioneer in regulating and legitimizing the digital landscape, the EU expects the development of opportunities in innovative services, say attorneys at Akin Gump.

• How Banking Managers Can Mitigate Cyber Risk Liability

  

  Directors and senior managers in the banking sector are now more than ever judged by how well they respond to cyber incidents, which means it is imperative they become familiar with new requirements and issue clear, timely and relevant communications in order to meet the expected standards, says Kate Macmillan at Herbert Smith.

• Getting Ready For New EMIR Reporting Requirements

  

  Newly published reporting requirements and procedures for data quality under the European Market Infrastructure Regulation will come into play next April, so businesses will need to address changes to existing reporting processes and related documentation, say Pauline Ashall and Madeleine Wanner at Linklaters.

• What To Expect From UK's New Economic Crime Bill

  

  The Economic Crime and Corporate Transparency bill, if passed, will reform aspects of Companies House and strengthen government anti-money laundering efforts, but it is also raising questions about how new information sharing requirements will affect businesses, say attorneys at Signature Litigation.