Expert Analysis

• New Interpol Silver Notice Could Be Tool For Justice Or Abuse

  

  Interpol has issued dozens of Silver Notices to trace and recover assets linked to criminal activity since January, and though the tool may disrupt organized crime and terrorist financing, attorneys must protect against the potential for corrupt misuse, say attorneys at Clark Hill and Arktouros.

• Weighing PE Transaction Risks As EU AI Act Rolls Out

  

  As the European Union Artificial Intelligence Act becomes effective in stages, legal practitioners involved in private equity deals should consider the transactional risks resulting from this measure, including penalties, extraterritorial reach and target-firm applicability, say lawyers at Covington.

• Preparing For Literacy Compliance Under EU AI Act

  

  The European Commission's recent Q&A on artificial intelligence literacy is designed to assist with European Union AI Act compliance, but since the law does not require a one-size-fits-all approach, organizations need to consider specific use cases and focus on implementing staff training, says Edward Machin at Ropes & Gray.

• EU Banking Watchdog Regulations Herald New AML Era

  

  The European Banking Authority’s forthcoming anti-money laundering package will set a framework for compliance across the European Union by redefining the rules of engagement between financial institutions and supervisors, setting a new standard for transparency and accountability, say lawyers at A&O Shearman.

• UK-EU Competition Agreement Signals Rebuilding Of Ties

  

  The European Commission’s recent adoption of proposals to sign the European Union-U.K. competition agreement is a welcome first step toward better policy and enforcement convergence, providing a clearer legal framework for businesses to manage regulatory risk, says Charles Whiddington at Steptoe.

• What To Expect As UK, US Gov'ts Develop Stablecoin Policies

  

  While the U.K. and U.S. governments’ policies both suggest that fiat-backed stablecoins can improve efficiency and safety in payments systems, a perception that crypto-assets remain high risk means consumers are unlikely to use them in significant volume anytime soon, say lawyers at Cadwalader.

• Decoding Arbitral Disputes: UK Injunctions Across Borders

  

  A recent High Court of Justice decision allowing JPMorgan Chase Bank to block VTB Bank from bringing suit in a Russian court provides a seminal reflection on the power of English courts to issue antisuit injunctions when global banking disputes increasingly straddle multiple jurisdictions, says Josep Galvez of 4-5 Gray's Inn.

• 7 Reforms To Note Under New UK Data Protection Law

  

  Although the recently enacted Data Use Act’s changes to U.K. law are subtle, its reforms go beyond data protection, including changes that redefine the scope of scientific research and an update that clarifies what constitutes automated decision-making, says James Castro-Edwards at Arnold & Porter.

• How Regulators Want Online Platforms To Fight Finance Fraud

  

  Recent statements from the International Organization of Securities Commissions and the European Securities and Markets Authority make clear that online platform providers are expected to adopt proactive measures to prevent the promotion of unauthorized financial services and related misconduct, say lawyers at Taylor Wessing.

• FCA Notes Industry Criticism But Keeps Transparency Focus

  

  The Financial Conduct Authority’s recently updated enforcement guide finally gives up the "naming and shaming" public interest test, demonstrating that the regulator has recognized the industry's serious concerns while maintaining less contentious aspects of its proposals to improve transparency in investigations, say lawyers at Irwin Mitchell.

• Anticipating A Shift In CMA Merger Control Enforcement

  

  As the Competition and Markets Authority outlines plans to put the U.K. government's growth objectives into action, the changes may well pave the way for a more permissive outlook for review of mergers and acquisitions in the U.K., say lawyers at A&O Shearman.

• Court Backing Of FCA Pensions Ruling Sends Key Message

  

  The Upper Tribunal’s recent upholding of the Financial Conduct Authority's decisions against CFP Management directors serves as a judicial endorsement of the regulator’s approach to defined benefit transfers, underscoring that where the advisory model is fundamentally flawed, the consequences for those in control can be severe, say lawyers at RPC.

• What To Note As UK Adopts OECD Crypto Disclosure Rules

  

  With the U.K.’s recent announcement that it will adopt the Organization for Economic Cooperation and Development's crypto-asset reporting framework, users and providers will benefit from understanding the context surrounding the decision and the framework's intended goal of clamping down on tax evasion, say lawyers at Brown Rudnick.

• Why UK Sanctions Review Recommendations Lack Substance

  

  The recent U.K. cross-government sanctions enforcement review makes welcome but unambitious recommendations, and without increasing funding for sanctions agencies or developing a whistleblower incentivization scheme, it is unlikely to result in tangible support for the sectors that most need it, say lawyers at WilmerHale.

• How UK Law Firms Can Counter Money Laundering Threat

  

  With figures released in May showing that money laundering was the biggest source of fraud in the U.K. last year, law firms should focus on internal identification and prevention strategies, considering the scale and nature of potential risk exposure depends on several business factors, says Niall Hearty at Rahman Ravelli.