Recognising new realities in decentralisation, the regulations aim to provide market players with governance flexibility within distributed ledger technology foundations.
On 2 October 2023, the Board of Directors of Abu...more
NFT creators and consumers should evaluate the legal and commercial considerations of NFTs that are linked to copyright work.
The Law Commission of England and Wales (the Commission) is a statutory independent body that...more
Bitcoin Association for BSV will release software to facilitate court orders to freeze stolen or lost coins, while some courts recently authorised service proceedings by tokenised airdrop.
Earlier this year, in Tulip...more
The latest analysis of “smarter contracts” provides helpful guidance on the opportunities and potential legal and practical risks in adopting these technologies.
LawtechUK’s latest analysis of so-called smarter contracts...more
8/19/2022
/ Blockchain ,
Contract Formation ,
Contract Management ,
Cryptoassets ,
E-Commerce ,
Information Reports ,
Non-Fungible Tokens (NFTs) ,
Risk Assessment ,
Smart Contracts ,
Software ,
Technology ,
UK
The Court held that software developers do not owe a duty of care to bitcoin owners who lost their private keys.
In Tulip Trading Ltd (TTL) v. Bitcoin Association for BSV and others, TTL claimed that personal computers of...more
5/31/2022
/ Bitcoin ,
Corporate Counsel ,
Cryptocurrency ,
Digital Assets ,
Duty of Care ,
Fiduciary Duty ,
Hackers ,
Non-Fungible Tokens (NFTs) ,
Popular ,
Software Developers ,
UK
The new law establishes the Dubai Virtual Assets Regulatory Authority and identifies activities to be regulated, such as operating virtual asset platforms.
On March 11, 2022, Dubai Law No. 4 of 2022 on the Regulation of...more
An FCA report evaluates the chequered implementation of technology change and identifies risks and best practices to help firms better navigate this change.
Of the nearly 1,000 “material incidents” reported to the UK’s...more
The resource aims to help businesses create more resilient supply chains and trusted data by responsibly deploying blockchain technology.
The World Economic Forum has launched a new, first-of-its-kind resource -...more
As IT vendors grapple with the impacts and risks of COVID-19, how can customers manage exposure when contracting for new services?
COVID-19 has - temporarily or otherwise - disrupted the status quo. For IT vendors the...more
The final guidelines create new obligations for insurers that will impact cloud outsourcing arrangements.
On 6 February 2020, the European Insurance and Occupational Pensions Authority (EIOPA) published its final...more
2/27/2020
/ Cloud Service Providers (CSPs) ,
Draft Guidance ,
EIOPA ,
EU ,
European Banking Authority (EBA) ,
Financial Institutions ,
Insurance Industry ,
Outsourcing ,
Public Contracts ,
Reinsurance ,
Solvency II
Although still actively developing, current UK policy thinking in relation to cryptocurrencies was set out by the UK Cryptoassets Taskforce in its Final Report (the “Taskforce Report”), published in October 2018.
The...more
11/19/2019
/ Banking Sector ,
Blockchain ,
CFTC ,
Cryptocurrency ,
Custody ,
Digital Assets ,
Financial Services Industry ,
General Data Protection Regulation (GDPR) ,
Income Taxes ,
Popular ,
Regulatory Requirements ,
Smart Contracts ,
UK
UK Treasury Committee report warns that the current level and frequency of disruption and consumer harm is unacceptable.
On 28 October 2019, the Treasury Committee published a report on IT failures in the financial...more
10/30/2019
/ Banking Sector ,
Corporate Communications ,
Corporate Management ,
Financial Services Industry ,
HM Treasury ,
Information Reports ,
Information Technology ,
Outsourcing ,
Risk Management ,
SMCR ,
UK
Insights from Latham’s flagship event: Managing the risk and promise of digitisation in financial services -
The financial services industry is leading the way in outsourcing, with contract values in excess of US$10.7...more
10/21/2019
/ Compliance ,
Digital Currency ,
Enforcement Actions ,
EU ,
European Banking Authority (EBA) ,
Financial Conduct Authority (FCA) ,
Financial Services Industry ,
Outsourcing ,
Prudential Regulation Authority (PRA) ,
Regulatory Agenda ,
Risk Assessment ,
Risk Management ,
Third-Party Service Provider ,
UK
UK publishes White Paper with hard-hitting regulatory proposals to tackle online harms.
On 8 April 2019, the Home Office and the Department for Culture, Media and Sport (DCMS) published an “Online Harms White Paper”,...more
4/11/2019
/ Child Abuse ,
Civil Liability ,
Corporate Counsel ,
Criminal Liability ,
Duty of Care ,
E-Commerce ,
Enforcement Authority ,
Exploitation ,
Online Platforms ,
Privacy Laws ,
Regulatory Agenda ,
Social Networks ,
Terrorist Threats ,
UK ,
UK Data Protection Act ,
White Papers
Growth in applications for blockchain and tokenisation, combined with an increasing number of initial coin offerings (ICOs), mean that buyout firms should note developments in this sector.
Why Should PE Be Interested in...more
Bank of England announces that, for the first time, a non-bank payment services provider has accessed the UK payments system directly.
The Bank of England has announced that a regulated payment services provider (PSP) has...more
FCA warns providers of cryptocurrency derivatives of their regulatory obligations.
The UK Financial Conduct Authority (FCA) has issued a statement reminding businesses offering cryptocurrency derivatives of the requirement...more
The Swiss Financial Market Supervisory Authority (FINMA) has published a set of guidelines, setting out how it intends to apply its financial markets legislation in the context of initial coin offerings (ICOs).
Despite the...more
The FCA has published a Feedback Statement on Distributed Ledger Technology, setting out its views and proposed next steps.
Key Points:
..Respondents to the FCA’s initial Discussion Paper were supportive of the FCA...more
The UK government’s 2017 Autumn Budget included some measures of particular interest for fintech firms, demonstrating the government’s continued commitment to making the UK a world-leading fintech hub.
The government has...more
On 15 November 2017, the European Central Bank (ECB) published a newsletter containing an article on how the ECB is dealing with the increasing number of fintech bank applications. The ECB is the banking supervisor, alongside...more
ESMA has published two statements highlighting ICO risks for investors and EU regulatory rules applicable to issuers and advisors involved with ICOs.
The European Securities and Markets Authority (ESMA) published two...more
Regulatory sandboxes are becoming a global trend, providing plenty of opportunities for innovative businesses.
Pioneered in the UK as part of the Financial Conduct Authority’s (FCA) “Project Innovate”, a regulatory sandbox...more
The Project Stella report, a European Central Bank (ECB) and Bank of Japan (BOJ) joint venture, details the applicability of distributed ledger technology for financial market infrastructure. During a one-month research...more
Initial Coin Offerings (ICOs) involve issuers offering virtual coins or tokens that are created and disseminated using distributed ledger or blockchain technology. The capital raised from the offer will fund the development...more
9/5/2017
/ Blockchain ,
Canadian Securities Administration ,
Cross-Border Transactions ,
Distributed Ledger Technology (DLT) ,
Financial Conduct Authority (FCA) ,
FinTech ,
Howey ,
Initial Coin Offering (ICOs) ,
Monetary Authority of Singapore ,
Securities ,
UK