Expert Analysis

• New Economic Crime Bill Brings Welcome Reforms

  

  The proposed amendments to the Proceeds of Crime Act in the new Economic Crime and Corporate Transparency Bill have so far largely gone under the radar, but they are a positive step that will reduce the burden on the National Crime Agency, says Ruth Paley at Eversheds Sutherland.

• EU Beneficial Owners' Privacy Ruling Conflicts With UK Law

  

  A recent decision by the Court of Justice of the EU to strike down a requirement for registers of corporates’ beneficial owners to be available to the public is an example of EU-U.K. divergence, with the EU valuing privacy over transparency and the U.K. making the opposite calculation, says John Binns at BCL.

• How Overseas Property Verification Poses Risks To Attorneys

  

  The recently launched register of overseas entities, requiring verification of foreign owners hoping to purchase U.K. property, could expose attorneys to criminal prosecution, professional negligence claims and reputational damage if they do not complete these checks to the required standard, which nevertheless remains murky, says Harriet Holmes at Thirdfort.

• Lessons That May Be Learned From The Demise Of Made.com

  

  With Made.com going into administration, companies that may face similar challenges should take on board that the earlier adequate preemptive planning is considered, the more financial and legal options there will be to avoid last minute firefighting and to focus instead on strengthening the business, says Eleni Michaela at Faegre Drinker.

• High Court Ruling Clarifies Notice Under Swaps Agreement

  

  The English High Court's recent decision in Macquarie v. Phelan Energy, the first judgment to consider the validity of a failure-to-pay notice under the 2002 International Swaps and Derivatives Association master agreement, gives important guidance to financial institutions and derivatives trading participants about the level of accuracy required in those notices, say attorneys at Norton Rose.

• The FTX Fallout So Far And What May Come Next

  

  While the downfall of FTX is likely to cause substantial losses and lead to extensive litigation, it will hopefully precipitate a renewed focus on regulating the crypto market in a responsible way that gives more protection to consumers, says Dan Wyatt at RPC.

• A Look At The Swath Of Claims Amazon Faces Worldwide

  

  The increasing number of claims against Amazon may well be a sign of the EU regulatory regime on the horizon for digital gatekeepers and the developing area of collective proceedings in the U.K., says David Greene at Edwin Coe.

• Link Ruling Shows FCA's Wide Change-In-Control Powers

  

  The Financial Conduct Authority's recent decision regarding the proposed acquisition of Link Fund Solutions is a reminder that the regulator has significant powers to attach conditions to its approvals and the advent of the Financial Services and Markets Bill could lead to the widening of those powers, say Charlotte Hill and Daniel Hirschfield at Taylor Wessing.

• Understanding The EU's New Foreign Subsidies Regulation

  

  The European Parliament’s newly adopted Foreign Subsidies Regulation extends already wide-ranging European Union state aid powers and adds new layers of deal conditionality, so companies will need to carefully consider how the regulation may affect their EU-bound activities, say Peter Camesasca and Sophie Bertin at Covington.

• 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.