• LexBlog United Kingdom

Publisher:
LexBlog
Publication date:
2019-10-04

Latest documents

  • PSR review of specific direction relating to LINK ATM system

    On 11 October 2019, the Payment Systems Regulator (PSR) announced that it is conducting a review of Specific Direction 8 that it gave to LINK to make sure LINK does all it can to fulfil its commitment to maintain the broad geographic spread of free-to-use ATMs. Specific Direction 8 is designed to make sure LINK...

  • Well-intended dishonesty backfires on employer (UK)

    Good faith lying – an interesting concept ethically but, in practical terms, vital grease in the wheels of a civil society – “no, it was delicious, honestly, I’m just a bit full”, “I love your parents” and (especially in the legal world) “with great respect”. But what if you lie to your employee in the...

  • FCA Financial Instruments Transparency System Instructions

    On 10 October 2019, the FCA published instructions for its Financial Instruments Transparency System (FITRS). The instructions provide details on the files containing UK only transparency calculation results that the FCA will publish and instructions on how to use these files. The FCA states that that the intended audience for these instructions are market participants...

  • First Data Access Agreement under the CLOUD Act signed by UK and US

    On 3 October 2019, the UK and US governments signed the first bilateral Data Access Agreement (the Agreement) under the US Clarifying Lawful Overseas Use of Data Act 2018 (CLOUD Act) and the UK Crime (Overseas Production Orders) Act 2019. The Agreement seeks to facilitate faster and more direct access by each country’s agencies in criminal...

  • Financial Services (Implementation of Legislation) Bill 2017-19 falls

    On 9 October 2019, the UK Parliament updated its webpage on the Financial Services (Implementation of Legislation) Bill 2017-19 (Bill) to confirm that the Bill failed to complete its passage through Parliament before the end of the session. This means the Bill will make no further progress. This is a result of the prorogation of...

  • Bank of England Seeks Further Feedback on Migration to Standard Payments Messaging

    The BoE is seeking feedback on the Introductory Phase of the ISO 20022 migration, that will create a common language for payments data globally. By Christian F. McDermott, Grace E. Erskine, and Amy Smyth In 2018, the Bank of England (BoE) consulted on the adoption of ISO 20022 — a global standard for payments messaging...

  • First Data Access Agreement under the CLOUD Act signed by UK and US

    On 3 October 2019, the UK and US governments signed the first bilateral Data Access Agreement (the Agreement) under the US Clarifying Lawful Overseas Use of Data Act 2018 (CLOUD Act) and the UK Crime (Overseas Production Orders) Act 2019. The Agreement seeks to facilitate faster and more direct access by each country’s agencies in criminal...

  • BoE financial policy summary and record of FPC meeting

    On 9 October 2019, the Bank of England (BoE) published the financial policy summary and record (FPSR) of the Financial Policy Committee (FPC) meeting on 2 October 2019. At this meeting, the FPC judged that: the core of the UK financial system is resilient to and prepared for the wide range of risks it could...

  • UK: FCA Market Study into General Insurance Pricing Practices: time to look at pricing strategies?

    On 4 October 2019, the FCA published its much anticipated Interim Report on its Market Study into general insurance pricing practices (the “Interim Report“). The Market Study stems from the work of the FCA in its Thematic Review into pricing practices in the retail insurance sector which concluded that further action was necessary due to...

  • Capital Relief Trades: Structuring Considerations for Synthetic Securitizations (Part two of a three part series providing a U.S. and U.K perspective)

    We continue our series on capital relief trades (CRTs) with a look at issues that arise under the Volcker Rule and U.S. risk retention rules in connection with structuring CRTs in the U.S. Please be on the look-out for Part three of our CRT series in which Ed Parker, global practice head of Derivatives &...

Featured documents

  • Prince Charles Commissions Report on Complementary Medicine Savings

    Prince Charles has commissioned a report into how complementary medicine could help the UK National Health Service save money. The Prince of Wales asked a former chief economics adviser to Barclays Bank to see where money could be saved by avoiding traditional drug treatments. Leaked draft...

  • UK law blogs popular marketing tool for solicitors and barristers

    Law blogs aren’t unique to the States. UK law blogs are becoming a valuable business and marketing tool for English solicitors and barristers reports the Law Gazette, the website for the official magazine of the Law Society. …[M]ore solicitors now consider blogging as a route to business and...

  • UK has its Senator Stevens too

    Looks as if our legislature’s knowledge of the Internet has nothing on the UK’s government. The Deputy Prime Minister, John Prescott in appearing to display his ignorance of the internet when he spoke about allegations about his private life observed in a BBC radio interview with John Humphreys ‘…I ...

  • Lawyers Must Blog

    Law “firms need to enter the ‘blogosphere’ if they want to compete in the 21st century.” More and more law firms are developing blogs, dealing with everything from family law to law affecting the deaf. “UK Solicitor Justin Patten, who has run Human Law in Station Road, Ware, for three years, has...

  • UK Web 2.0 conference for lawyers

    The UK’s Society for Computers and the Law is holding a Web 2.0 Conference for Lawyers June 22 and 23 St Anne’s College Oxford. In keeping with the collaborative philosophy that spawned the likes of Wikipedia and which, at a surface level at least, underpins social software innovations, the SCL...

  • Nuclear secrets safety sealed

    Professor James Chadwick, who discovered the neutron, had sealed the envelope containing the instructions, many decades ago. Chadwick’s prescience is celebrated by the UK’s Royal Society. So is his modesty and foresight: The sealed envelopes were accompanied by a letter from Professor Chadwick....

  • UK’s Financial Services Authority emphasizes bank’s stability

    The UK’s Financial Services Authority has stepped in to reassure bank depositors so as to stem a Depression era-like run on the bank. Although the “queue” is a time-honored British tradition, queueing up to withdraw bank deposits is not. Now in a press release, the UK financial services regulator...

  • Samsung UK Vacuum Cleaner Incorporates Antimicrobial Nano-Coating.

    Samsung’s new Silencio SC9540 bagless vacuum cleaner sold in the UK apparently uses a nanosilver costing on its dust bin, pre-motor filter, and post-motor filter to kill bacteria accumulated during the cleaning process. Samsung claims the air emitted from the Silencio is bacteria and odor free. No...

  • Unlicensed practice of osteopathy

    A new UK case shows the dangers of unlicensed practice of medicine. In the U.S., it is unlawful to practice ‘medicine’ without a license. Practicing medicine includes not only such broadly defined terms as diagnosis, treatment, operation, prescription, and cure, but also holding one’s self out as...

  • Children TV food ad restrictions not working, UK consumer body claims

    This post was written by Carolyn E. Pepper and Tina Sany-Davies. OFCOM, the UK media regulator, published rules regarding advertising food and drink products to children. A consumer watchdog in the UK, Which?, has said that the rules, which aim to curb advertising foods assessed as high in fat,...