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Leading association focuses on advancing the adoption of blockchain technology across industries. Latham & Watkins has joined the Global Blockchain Business Council (GBBC), a leading industry association for the blockchain technology ecosystem, which brings together organizations and innovators from over 40 countries to advance understanding of blockchain technology. The organization focuses on “furthering [the] adoption of blockchain technology through engaging regulators, business leaders, and global changemakers.” Latham has also joined the GBBC’s Legal and
As part of its ongoing work to investigate and understand the UK cryptoassets sector the FCA has published the findings of two pieces of complementary consumer research on cryptoassets. By Sam Maxson and Stuart Davis Following the publication of the UK Cryptoassets Taskforce final report in October 2018, the FCA has engaged in a series of focused pieces of work relating to the UK cryptoassets sector. This work includes the headline public consultations that were…
Companies should identify data flows, implement a data transfer solution, and update internal documents and privacy notices. By Fiona M. Maclean and Jane Bentham Since our blog on “What a “No Deal” Brexit Means for UK Data Privacy”, the European Data Protection Board (EDPB) has published two information notes on data transfers in the event of a “no deal” Brexit: A general note on the various data transfer mechanisms (and exceptions) under the GDPR…
The Italian Securities Commission asks banks and investment firms in Italy and the UK to inform customers of Brexit consequences promptly. By Isabella Porchia On 12 March 2019, the Italian Securities Commission (CONSOB) issued a warning notice to UK and Italian banks and investment firms providing investment services and activities in Italy and the UK, respectively, requesting that they inform their clients of Brexit consequences as a matter of urgency, especially in case of a…
The guidelines create new obligations for financial, payment, and electronic money institutions that will impact cloud outsourcing and deployment of FinTech. By Fiona M. Maclean and Laura Holden On 25 February 2019, the European Banking Authority (EBA) published a final report on its draft guidelines on outsourcing arrangements (Guidelines). The report followed the EBA’s publication of draft guidelines in June 2018 (Draft Guidelines) and the ensuing public consultation in September 2018 (Public Consultation). The Guidelines…
The guidelines create new obligations for financial, payment, and electronic money institutions that will impact cloud outsourcing and deployment of FinTech. By Fiona M. Maclean and Laura Holden On 25 February 2019, the European Banking Authority (EBA) published a final report on its draft guidelines on outsourcing arrangements (Guidelines). The report followed the EBA’s publication of draft guidelines in June 2018 (Draft Guidelines) and the ensuing public consultation in September 2018 (Public Consultation). The Guidelines…
The revised Code is likely to encourage a more robust and substantive review of ESG issues by institutional investors. By Paul A. Davies and Michael Green Background The UK Stewardship Code (the Code) was originally published in 2010 following a review of corporate governance. The Financial Reporting Council (FRC) has responsibility for the Code, and promotes the long-term success of companies, outlines principles underlying an effective board, and fosters active investor monitoring and engagement of…
The revised Code is likely to encourage a more robust and substantive review of ESG issues by institutional investors. By Paul A. Davies and Michael Green Background The UK Stewardship Code (the Code) was originally published in 2010 following a review of corporate governance. The Financial Reporting Council (FRC) has responsibility for the Code, and promotes the long-term success of companies, outlines principles underlying an effective board, and fosters active investor monitoring and engagement of…
We examine: increasing focus on non-controlling stakes, burdensome document production requests, heightened enforcement of gun jumping rules, examination of vertical deal overlaps, and ongoing political developments. By John Colahan, Peter Citron, Calum Warren, David Walker, Tom Evans, and Catherine Campbell In a continually evolving antitrust landscape, we consider five key trends that PE deal teams should be aware of. Focus on Non-Controlling Stakes in Competing Companies Antitrust authorities are paying…
European regulators’ openness to PE investors is presenting attractive banking sector opportunities, but such opportunities require careful regulatory planning and local issue navigation. By Carl Fernandes, Hans-Jürgen Luett, David Walker, Tom Evans, and Catherine Campbell Ten years ago, a PE investment in a European bank would have been a rare occurrence. However, more recently, PE firms have deployed capital in the banking sector, encouraged by changing regulatory perceptions of PE bidders.…