LexBlog (LexBlog United Kingdom)

On 5 March 2024, the UK data protection regulator (ICO) published guidance on biometric recognition (the Guidance), following a consultation with stakeholders in October 2023. The Guidance clarifies the concept and properties of biometric data and provides practical considerations for organisations contemplating or using biometric recognition systems. Clarifying the concept of biometric data The...

On April 12, 2024, the UK Information Commissioner's Office launched the third installment in its consultation series examining how data protection law applies to the development and use of generative AI.

On 15 April 2024, Sarah Breeden, Deputy Governor of Financial Stability at the Bank of England (BoE), delivered a speech explaining how the BoE seeks to deliver trust and support innovation, both as a provider and as a regulator of retail and wholesale money, against the backdrop of significant technological change in payments. In her...

On 9 April 2024, the Payment Systems Regulator (PSR) published its Annual Plan for 2024/2025, setting out the PSR’s key aims, activities and expected costs for 2024/2025. The Annual Plan highlights that this year (the third of the PSR’s 5-year strategy) will be a important one for consolidating the delivery of the PSR’s work aimed...

In our latest briefing we set out some of the key upcoming dates that we are aware of so far in the financial services space for 2024, together with links to our relevant content for each development. We will publish an updated version of this horizon scanner next quarter. For further detail on some of...

On 11 April 2024, the Government published a Correction Slip relating to the Financial Services and Markets Act 2023. The Correction Slip states that with regards to Schedule 2, paragraph 33, in the inserted Chapter 4A, after the italic heading “STS equivalent non-UK securitisations”, on a new line, the heading “Article 28A” should be inserted...

This month, the latest instalment of annual increases relating to the minimum wage, the maximum claim amounts awarded in the Employment Tribunal and other statutory rates takes effect. We set out below the main rates and limits that employers should be aware of. 1. Increase in minimum wage The national minimum wage increased from £10.42...

Back in October 2022 we reported here on the EAT’s decision in Bathgate -v- Technip UK Limited. This was a particularly unnerving ruling to the effect that settlement agreements could not cover claims yet to arise because of the requirement under section 147 Employment Rights Act that such agreements must relate to “particular claims”. The...

On 10 April 2024, the FCA published Consultation Paper CP24/7: Payment Optionality for Investment Research. Background The UK rules on investment research stem from the Markets in Financial Instruments Directive II (MiFID II). At the moment the UK rules prevent UK asset managers from purchasing research with bundled payments other than when the payment is...

The UK Court of Appeal was asked to interpret the phrase in a statute providing that no arrears of interest could be recovered after the expiration of six years from the date on which “the interest became due”. The question was whether the word “due” meant “owing” in the sense of a liability having arisen...

On Leap Year Day 2024, Squire Patton Boggs held its inaugural women’s sport symposium, Leap into the Future of Women’s Sport.  Bringing together key figures from across the sports industry, the Symposium focussed on what is next for commercialisation, investment and growth, and maternity and parental policies.  For a flavour of the talking points, please...

The UK Government launched a Consultation on the introduction of a UK CBAM on 21 March 2024.  The Consultation closes on 13 June 2024.  This follows the announcement, in December 2023, that the UK would implement a UK CBAM similar to the EU CBAM which came into effect on 1 October 2023. In this update,...

On Tuesday 16 April 2024, please join us for a webinar where our team from across EMEA will discuss the key recent and upcoming trends in financial crime legislation and regulatory enforcement in the EU, UK and Singapore. This webinar will highlight important changes to anti-money laundering regulation and wider financial crime legislation in the...

On April 3, 2024, the UK Information Commissioner’s Office (ICO) released a statement setting out its priorities for protecting children’s privacy online. The priorities reflect the ICO’s strategy for the next phase of implementing its Children’s code of practice (also known as the “AADC”) and signal a focus by the regulator on the operations of...

On April 2, 2024, HM Treasury’s Office of Financial Sanctions Implementation (“OFSI”) published a blog post addressing financial sanctions compliance in the maritime sector.  Maritime businesses currently are a particular area of focus for UK sanctions regulators and law enforcement due to the direct and multi-faceted impact of the UK’s Russia financial, trade, and transport...

On 9 April 2024, the Financial Conduct Authority (FCA) published Market Watch 78. In this edition of Market Watch, the FCA shares its observations on the completeness and accuracy of instrument reference data (IRD) under onshored Regulatory Technical Standard (RTS) 23. The FCA notes that this edition of Market Watch will be relevant to UK...

Under the UK’s naturalisation laws, it is possible for a foreign national to gain British citizenship through marriage as long as they meet certain criteria. Understandably, overseas nationals with a husband, wife, or civil partner from the UK often want to explore their options for gaining British citizenship, giving them the right to remain permanently,...

New Immigration Rules came into force in the UK on 4 April 2024 which affect employers who sponsor workers under the Skilled worker or Global Business Mobility: Senior or Specialist Worker routes. Skilled Worker changes Broadly, the main changes are: Transitional arrangements Where an individual is sponsored under a Certificate of Sponsorship (“CoS”) assigned before...

Everyone knows that if there is something about a job which causes a disabled employee particular difficulties with it, the employer is under an obligation to make reasonable adjustments to the role to reduce or remove that disadvantage.  But suppose that there are no adjustments to the role which can be made.  Does that duty...

The FCC’s recent introduction of a new Voluntary Cybersecurity Labelling Program for consumer Internet of Things (IoT) products reflects the continued desire by U.S. regulators to bolster the security of the ever-increasing number of internet-connected household items available to the public. UK and EU regulating authorities are no different, and are in the midst of...

You may have heard about the UK Golden visa and how this provides a direct route to permanent settlement through investment. The Golden visa (properly referred to as the Tier 1 (Investor) visa) is, unfortunately, now closed to new applications as of 17th February 2022. While the Golden visa route is closed to new applicants,...

Proposal for a revised EU FDI Screening Regulation The European Commission has recently adopted five initiatives as part of the European Economic Security Strategy unveiled in June 2023. The initiatives are aimed at bolstering the EU’s economic security interests. Their main focus is a proposal for a new EU FDI Screening Regulation, which remains subject to...

Bacterial populations remain stable despite cleaning efforts in ready-to-eat food facilities, according to researchers. Scientists from the Quadram Institute and UK Health Security Agency (UKHSA) are working on how Listeria persists in ready-to-eat (RTE) food production environments. Researchers hope that understanding how Listeria survives in these environments could inform better laboratory...

On Tuesday 9 April 2024, as part of our UK In-house legal forum training programme, we will be running a webinar on ESG and greenwashing in financial services. The session will look at recent UK regulatory developments regarding sustainability, including the FCA’s Sustainability Disclosure Requirements and investment labels regime, at how regulators are dealing with...

On 3 April 2024, the Bank of England (BoE) and the Financial Conduct Authority (FCA) published a joint consultation on their proposed approach to implementing and operating the Digital Securities Sandbox (DSS), an initiative run by the regulators that is intended to help facilitate the adoption of innovative technology in digital assets in the UK....

The EU Listing Act and UK Prospectus Reform are two different legislative reforms with a common goal: making public capital markets in the UK and EU more accessible and attractive for companies of all sizes, including small- and medium-sized enterprises, seeking to raise capital and list on a stock exchange by reducing the costs and...

The EU Listing Act and UK Prospectus Reform are two different legislative reforms with a common goal: making public capital markets in the UK and EU more accessible and attractive for companies of all sizes, including small- and medium-sized enterprises, seeking to raise capital and list on a stock exchange by reducing the costs and...

As a general rule, court proceedings and the related documents are open to the public.  There is an important reason for that: justice must not only be done, it must be seen to be done.  But what if that would lead to the disclosure of valuable and confidential commercial information to the opposing party or...

On 27 March 2024, the Payment Systems Regulator (PSR) announced that it is conducting its second annual review of Specific Direction 12 (SD12) and published a call for views. Background SD12 is designed to ensure that Link Scheme Holdings Ltd (LINK), the operator of the LINK ATM network, maintains the broad geographic spread of the...

On April 1, 2024, the U.S. and UK signed a Memorandum of Understanding that details how the U.S. and UK will work together to develop tests for advanced AI models.