Expert Analysis

• Accountability Is Key To Preventing Miscarriages Of Justice

  

  The wrongful conviction of Andrew Malkinson and other recent cases show that in order to avoid future miscarriages of justice, there needs to be a fundamental reevaluation of how investigators, prosecutors and the Criminal Cases Review Commission operate, prioritizing stronger penalties and increased funding, say Thomas Walford at Expert Evidence International and policy analyst Gerald Frost.

• 4 Compliance Considerations Under FCA Consumer Duty

  

  Following the U.K. Financial Conduct Authority's recent introduction of the new consumer duty regime, firms will need to be mindful of data protection implications when managing their compliance with the duty and data protection legislation, say lawyers at Bird & Bird.

• What Could Come Of CFPB, EU Consumer Finance Collab

  

  A recent joint statement from the European Commission and Consumer Financial Protection Bureau focused on how technology is affecting consumers of financial services, potentially recognizing that legal protections are lacking because tech regulations lag behind its development, say attorneys at DLA Piper.

• 6 Key Factors For Successful Cross-Border Dispute Mediation

  

  The European landscape of cross-border disputes diverges markedly from the U.S. experience and presents unique challenges, including the amalgamation of diverse cultures and legal systems, but there are several practical steps that practitioners can take to effectively navigate the process, says Peter Kamminga at JAMS.

• Operational Resilience Considerations In Financial Services

  

  A recent letter from the Financial Conduct Authority reminds CEOs of U.K. wholesale banks of their role in the safety and soundness of markets, but all firms can draw lessons and consider their own operational resilience for longer-term security and commercial benefit, says Richard Tall at Faegre Drinker.

• UK Tech Cases Warn Of Liability Clause Drafting Pitfalls

  

  The recent U.K. High Court cases Drax Energy Solutions v. Wipro and EE v. Virgin Mobile Telecoms indicate a more literal judicial approach to construing limitations of liability, even when this significantly limits a claimant's recoverable damages, highlighting the importance of carefully drafted liability provisions, say Helen Armstrong and Tania Williams at RPC.

• How The UK Investment Screening Regime Is Taking Shape

  

  A recent order imposing remedies on an acquisition by EDF Energy highlights emerging trends in the U.K. government's national security reviews of transactions under the U.K. National Security and Investment Act, and shows how the U.K. remedy landscape compares to the U.S. regime, say lawyers at Arnold & Porter.

• Consultations Underpin Mandatory Fraud Victim Repayment

  

  The U.K. Payment Systems Regulator’s recent consultations on authorized push payment fraud reinforce its June policy expectation, which said that unless there is evidence of gross negligence and the consumer standard of caution has not been followed, providers must reimburse fraud victims, say lawyers at Hogan Lovells.

• Swiss Privacy Law Reforms Present Divergences From GDPR

  

  The differences between Switzerland’s recently reformed Federal Act on Data Protection and the EU's General Data Protection Regulation, particularly around data breach reporting and the liability of company officers, will need to be carefully managed by multinationals that may have competing obligations under different laws, say Kim Roberts and Vanessa Alarcon Duvanel at King & Spalding.

• New Legislation May Not Be Needed For Recovery Of Crypto

  

  The recent seizure of cryptocurrency under a civil recovery order raises the issue of whether extended powers under the forthcoming Economic Crime Bill are necessary, with the ability to seize crypto-related items that may be the subject of a search order more likely to be of assistance, says Nicola McKinney at Quillon Law.

• Opinion

  Russia Ruling Should Lead UK To Review Sanctions Policy

  

  The High Court's recent dismissal of the first-ever court challenge to Russian sanctions in Shvidler v. Secretary of State sets a demanding standard for overturning designation decisions, highlighting the need for an independent review of the Russia sanctions regime, says Helen Taylor at Spotlight on Corruption.

• German Competition Law May Herald New Enforcement Trend

  

  The recent amendment to the German Act against Restraints of Competition is expected to significantly expand the powers of the German Federal Cartel Office, and could signal a global trend toward greater direct intervention by national competition authorities and political interference in competition law, say lawyers at Simmons & Simmons.

• New Financial Services Act Leaves Few Firms Untouched

  

  The recently published Financial Services and Markets Act 2023, which replaces retained EU law with U.K. legislation, is one of the most significant pieces of post-Brexit regulation, with key practical implications for actors such as investment firms and crypto-asset and payment service providers, say Tim Cant, Emma Tran and Bisola Williams at Ashurst.

• FCA 'De-Banking' Clampdown May Need Gov't Backing

  

  The U.K. Financial Conduct Authority’s recent clampdown on unfair bank account closures will give customers greater transparency, but with terms usually skewed in the bank’s favor, it is a policy matter for the government to enact further protections for businesses and consumers, say Stephen Rosen and Jean-Martin Louw at Collyer Bristow.

• UK Securitization Reform Opts For Modest Approach, For Now

  

  Recently published consultation papers from the U.K. Prudential Regulation and Financial Conduct Authorities on new securitization rules mainly restate retained EU law, but there are some targeted adjustments being proposed and further divergence is to be expected, say Alix Prentice and Assia Damianova at Cadwalader.