FCA’s Supervision of Cryptoasset Businesses July 21, 2020 It was announced from the 10th of January this year that the UK Financial Conduct Authority (FCA) will be acting as the supervisor of UK cryptoasset businesses under the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 (MLRs). The relevant amending regulations expands the application of the MLRs to [...]
The Important Role of Solicitors in “Future Fund” Scheme Applications June 23, 2020 The government Future Fund scheme, devised to help innovative companies impacted by the Covid 19 outbreak, includes solicitors in critical elements of the application and funding process. On 20 April 2020, the chancellor introduced the Coronavirus Future Fund , a scheme designed to help innovative high-growth companies (including companies in the crypto and FinTech space) [...]
Talking Legal May 26, 2020 One of the most important questions asked when contemplating creating a crypto digital asset on the blockchain (whether you call it a “coin” or a “token” or some new name) is how will such digital assets be treated under the law in the relevant jurisdiction(s)? How it is treated under the relevant law is critical [...]
EU imposes tougher AI and data rules to curb tech giants’ power February 19, 2020 The EU has today proposed a raft of new artificial intelligence (AI) rules to curb the power of US tech firms, forcing them to share their data with smaller rivals. The white paper, which is part of a wider digital programme released today by the European Commission, set out ways to limit the perceived dangers [...]
Bank of England forms group to weigh up digital currency launch January 21, 2020 The Bank of England has teamed up with other major central banks to assess the case for launching their own digital currencies, it announced today, as a debate rages over the future of money. Threadneedle Street will work with the central banks of Canada, Japan, the Eurozone, Sweden, Switzerland and the Bank for International Settlements [...]
Artificial intelligence could wipe out 13,000 legal sector jobs December 9, 2019 The adoption of new technologies such as artificial intelligence could lead to the UK legal sector shedding 13,000 jobs, according to a report by the Law Society of England and Wales. The report on the future shape of the legal workforce projected a 13,000 fall in the number of jobs by 2027, equivalent to a [...]
Oil industry to spend £15bn on North Sea decommissioning November 26, 2019 The UK oil and gas industry is set to spend more than £15bn on decommissioning activity in the North Sea over the next decade, as thousands of wells are expected to be withdrawn from service by 2030. According to a new report from industry body Oil and Gas UK (OGUK), 2,379 wells will be decommissioned [...]
Oil industry reacts to Labour’s new £11bn tax pledge November 21, 2019 A controversial Labour pledge to raise up to £11bn from a new levy on oil and gas companies to help retrain 37,000 workers in the industry to “make the transition to a clean economy” has met with fierce criticism from industry bodies. Jeremy Corbyn revealed the tax at the launch of the Labour manifesto in Birmingham earlier [...]
Men dominate investment banking deals, research finds October 28, 2019 A new ranking of Europe’s top investment bankers reveals that no women were included in the top 10 by number of deals over £100m. According to the research by data platform Mergerlinks , the top deal doer in Europe in the year ended the first half of 2019 was Rothschild & Co banker Dominic Hollamby [...]
The answer is blowing in the wind: Experts hail cheapest ever offshore wind farms September 20, 2019 The UK will build its first subsidy-free offshore wind farms next decade, campaigners and businesses said this morning as Britain’s cheapest ever offshore wind energy was unveiled. The country cemented its place as a global leader in offshore wind as one tender to provide the grid was quoted at £39.65 per megawatt hour (MWh). Read [...]