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UK Government sets out proposals for regulation of AI
What are the UK Government’s plans for the future regulation of artificial intelligence (AI)?
Read moreUK government announces the launch of an AI standards hub
What does the new artificial intelligence (AI) standards hub mean for businesses seeking to develop AI technologies?
Read moreRegulators support government growth objective and aim to reduce regulatory burden
Since the general election, the new Labour government has been signalling its intentions for financial services as a key driver of its economic growth agenda and, following the Autumn Budget, HM Treasury launched a call for evidence which outlined the government's plans for its Financial Services Growth & Competitiveness Strategy (Strategy).
Read moreGovernment consults on regulation of Buy-Now Pay-Later products
In 2021, HM Treasury announced its intention to regulate certain unregulated buy-now pay-later (BNPL) products in the UK. This followed recommendations made in the Woolard Review which raised concerns about the increased use of BNPL products during the pandemic and the significant risk that these unregulated credit products could cause consumer harm.
Read moreFCA consults on changes to the payments safeguarding regime
Under the Payment Services Regulations 2017 (PSRs) and the E-Money Regulations 2011 (EMRs) payment institutions (PIs), electronic money institutions (EMIs), small EMIs and credit unions are required to protect "relevant funds" which they receive when making a payment or in exchange for e-money that has been issued. Current safeguarding requirements are set out in the PSRs and EMRs, with guidance contained in the Financial Conduct Authority's (FCA) Approach Document.
Read moreThe Terminator: A Tale of Two Insurance Claims
It is 2029, and the Machines are losing their war with Humanity. What to do?
Read moreProject Angel Bidco v AXIS - what are the key takeaways for warranty and indemnity insurers?
On 31 October 2023, the London Circuit Commercial Court gave judgment in Project Angel Bidco Limited (in administration) v Axis Managing Agency Limited & Ors (2023) EWHC 2649.
Read moreWordings do matter
Contract drafting has been brass tacks for lawyers since the dawn of time. In its broadest terms, it involves putting the scope of a bargain reached between parties into clear and effective language.
Read moreStorm Babet, flooding and the insurance implications
Subtropical cyclone Storm Babet is currently responsible for over 350 flood warnings in the UK, with more flood warnings expected later this week.
Read moreGetting to know Global Access Lawyers
Global Access Lawyers brings together some of the worlds leading insurance law practices. In the following pages get to know the different law firms that make up Global Access, who we are, where we operate and the kind of work we do. We hope you find this useful to understand the international reach of Global Access.
Read moreCourt of Appeal finds in favour of FSCS on scope of the Policyholder Protection Rules (PRR)
The Court of Appeal has upheld an appeal by the FSCS from a High Court decision to grant an application for JR against FSCS following FSCS's refusal to compensate a policyholder for an insolvent insurer's failure to meet its liabilities.
Read moreWhat does the FRC's proposed corporate governance overhaul mean for D&O exposures?
The Financial Reporting Council (FRC) has now published the draft new UK Corporate Governance Code following the Government's requirements that it incorporate more robust internal control and prudent and effective risk management requirements. The deadline for responses to the FRC's consultation is 13 September 2023.
Read moreFOS complaints and hindsight – categorical statement from the Chief Ombudsman
The FCA has been producing a range of temporary measures with the aim of ensuring that firms can work at pace during the pandemic for the benefit of customers. However, where procedures are bypassed or corners cut what will FOS do in response? The response from FOS to that questions raises another – the use of hindsight when coming to its decisions.
Read moreAccountants, auditors and actuaries beware: the FRC continues to show its teeth, as its future stands in the balance
In widely publicised news, the Financial Reporting Council (FRC) continues to levy record high fines and has cast criticism on a number of firms. What appears to be an unforgiving stance taken by the regulator seems to come in the wake of the review into whether or not it should be disbanded, or folded into another regulatory organisation.
Read moreThe future of SIPPs – FCA responds to the Work and Pensions Committee
A couple of weeks ago we reported on 5 pointed questions raised by the Work and Pensions Committee of the FCA in relation to the SIPP market. Those questions included whether or not the FCA was considering banning non-standard investments in SIPPs. The FCA has now responded. The response includes the FCA's views on the due diligence it expects of SIPP providers when it comes to non-standard investments.
Read moreAI in auditing: Embracing a new age for the profession
Artificial Intelligence (AI) is a rather new concept for many (ignoring those versed in 80’s Sci-Fi movies); it’s something many don’t know much about and certainly don’t use in our day-to-day lives (or at least appreciate we are using). However, that’s not the case for everyone. Auditors have long been reaping the benefits of AI, but are auditors just scratching the surface of what AI can offer and what impact will an increased use have on their insurance requirements and claims they face?
Read moreEU AI ACT-ion stations
The EU is forging ahead with its vision for AI. With wrapping up talks on the EU AI Act between the EU governments, the Commission and the parliamentary negotiators imminent, we bring you up to date on the EU's risk based approach, the scope of the Act, a timeline, key points that will form the basis of the discussions and next steps.
Read moreWhat To Know About AI Fraudsters Before Facing Disputes
Fraudsters are quick to weaponise new technological developments and artificial intelligence is proving no exception, with AI-assisted scams increasingly being reported in the news, including most recently one using a likeness of a BBC broadcaster.
Read moreThe November 2023 AI safety summit and the UK's direction of travel
The government has confirmed that the UK AI safety summit will be held at Bletchley Park on 1 and 2 November 2023.
Read moreNew developments in AI may put law firms at greater risk of phishing fraud
As the computing power of Artificial Intelligence continues to grow exponentially, we consider how generative technology may expand the reach of traditional phishing frauds aimed at law firms.
Read moreThaler v Comptroller [2023] UKSC 49: the UKSC rules that AI cannot be an 'inventor'
To the surprise of no one, the UK Supreme Court (UKSC) has finally ruled that an artificial intelligence (AI) cannot be an inventor for the purposes of UK patent law. This judgment accords with the decisions of the lower courts in the UK and the initial ruling of the UKIPO. It also reflects similar findings from most of courts around the world where the claimant, Dr Thaler, brought similar actions.
Read moreGenerative AI and intellectual property rights—the UK government's position
The IPO is to produce a code of practice by the summer that will provide guidance to support AI firms in accessing copyright protected works as an input to their models.
Read moreSports Ticker (27 April 2023) – PL gambling sponsor ban, WWE x UFC merger and Schumacher's AI interview – a speed-read of commercial updates from the sports world
In a fortnight which saw Corach Rambler win the Grand National, the UK & Ireland submit its bid to host the UEFA Euro 2028 men's tournament, and 48,000 runners take to the streets for the London Marathon, we bring you updates on Spotify's new integration with Strava and Team GB's collaboration with Birds Eye. We also feature stories on a controversial AI-generated interview with Michael Schumacher and our own Kate O'Malley's sub-three hour marathon success.
Read moreICO publishes guidance on AI decision making
How can companies comply with data regulation when using AI to make decisions affecting individuals?
Read moreHarmful Online Choice Architecture: ASA criticises Nike and Sky for “dark pattern” tactics
What must businesses do to ensure that their ads do not fall foul of the ASA and CMA’s ongoing investigations into harmful choice architecture and dark pattern tactics?
Read moreAgreements to agree: Price for goods “to be fixed” by agreement results in partially enforceable contract
Where a contract for the sale of goods did not expressly specify the price for a portion of the goods, was the contract for the sale of those goods, or an element of it, enforceable or unenforceable as a mere agreement to agree?
Read moreInfluencer posts and affiliate links: the whole marketing chain must know the rules
Why did the Advertising Standards Authority (ASA) rule against Sainsbury’s on the use of an affiliate link by an influencer (noting that Sainsbury’s had no involvement in the creation of the post) and what steps could Sainsbury’s take to help prevent the problem from happening again?
Read moreConstruing material adverse effect/material adverse change clauses
How did the courts go about construing a material adverse effect definition (MAE) in a share purchase agreement (SPA) to determine whether an event constituted a MAE so as to discharge the buyers from their obligation to close the transaction?
Read moreTravel agent found to have misled consumers with “from” price claims
How can advertisers avoid misleading consumers when using “from” price claims?
Read moreReasonable notice termination not construed or implied into a contract with detailed termination provisions
Where a contract contains comprehensive termination provisions, in what circumstances will the court avoid construing or implying an additional right to terminate on reasonable notice?
Read moreASA rules against telecoms companies on mid-contract price rises
What steps should be taken to ensure contractual mid-term price rises don’t fall foul of advertising regulations or Ofcom’s existing and incoming transparency rules?
Read moreEffect of a contractual liability cap on set-off and contractual interest
Under a contract’s liability cap, should the cap be applied separately to each party’s liability before any set-off or after calculating the net financial position between the parties?
Read moreRound up of recent green claims
Round up of recent green claims: Key updates and sector-specific updates
Read moreSnapshots Winter 2024
A roundup of key legal developments for the modern commercial lawyer.
Read moreSnapshots Autumn 2024
A roundup of key legal developments for the modern commercial lawyer.
Read moreCourt infers novation despite 'no dealings' clause
Magee and others v Crocker and others [2024] EWHC 1723 (Ch)
Read moreDetermining whether a default interest clause is an unenforceable penalty
Houssein & Others v London Credit Limited & Another [2024] EWCA Civ 721
Read moreAgent authority in contract variation
Advanced Multi-Technology for Medical Industry and others v Uniserve Ltd and others [2024] EWHC 1725 (Ch)
Read moreContract construction – adjective at the start of a list found to qualify the entire list
Cantor Fitzgerald & Co v Yes Bank Ltd [2024] EWCA Civ 695
Read moreUpdated CAP guidance on when in-game purchases are considered 'advertising'
When and how does the CAP Code apply to the advertising of in-game purchases such as "loot boxes" in apps and video games?
Read moreASA continues to scrutinise aviation green claims
What can we learn from the Advertising Standards Authority's (ASA) recent rulings against green claims in the aviation industry?
Read moreASA rules on impact of historic environmental performance on green claims
How does the Advertising Standards Authority (ASA) say about poor historic environmental behaviour in respect of green claims?
Read moreIAB Europe's 12 guiding principles for the 2024-2029 EU legal agenda
What principles will guide IAB Europe in the upcoming EU legal agenda?
Read moreASA rules that ad is not sufficient where influencers also have business interests
Why could Zoe and Huel not rely on a #ad disclosure in ads promoted by the famous entrepreneur, Steven Bartlett? And what does this mean for brands where the individual featured in their ads has a business interest in them?
Read moreHeating and insulation green claims under CMA review
What is the Competition and Markets Authority's (CMA) new guidance on the marketing of heating and insulation products and how does this fit into the wider consumer protection picture?
Read moreSnapshots Summer 2024
A roundup of key legal developments for the modern commercial lawyer.
Read moreSnapshots Spring 2024
A roundup of key legal developments for the modern commercial lawyer.
Read moreSnapshots Winter 2023
A roundup of key legal developments for the modern commercial lawyer.
Read moreSnapshots Autumn 2023
A roundup of key legal developments for the modern commercial lawyer.
Read moreSnapshots Summer 2023
A roundup of key legal developments for the modern commercial lawyer.
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