Since it came into force in 2018, GDPR has led to a significant increase in collective data claims worth billions of euros. Companies should actively be considering their data complaint handling strategies. Our litigation specialists provided an update on the most active jurisdictions, including the UK and the Netherlands, and we compared with the data claim landscape in the US. Together, our panel provided an overview as to how courts across Europe – UK, France, Germany, Italy and Spain – are starting to grapple with the key question, “what is our personal data worth?”
Our panel looked at what 2021 holds for international bank regulation, including key reforms and areas of focus for regulators in Asia Pacific, Europe, the UK and the US. In particular, we discussed the impact of recent political developments and of Covid-19, and the effect they are expected to have on bank regulation in the short and longer term.
Financial institutions integrate human rights risk management into their business operations, products and services in differing ways. As the demands for disclosure of practice and performance expand, and due diligence expectations crystallise into legal requirements, the challenges for institutions are accelerating. Given the differing approaches to regulation that are emerging in Europe, the UK, the US and beyond, it is timely as we examined emerging practice, including the interplay between human rights and climate change and the do’s and don'ts of building on existing governance frameworks to address compliance risk in areas such as anti-corruption.
It is now almost certain that the Brexit transition period will end on 1 January 2021. Either the UK and EU will have agreed a trade agreement, or the UK will start to trade with the EU on WTO terms. We looked at how likely these scenarios are, and what they will mean in practice: for business, for the City, and for all of us as individuals.
Accelerating digital transformation – turning compliance, regulation and automation to your advantage (November 2020)
Earlier this year, Clifford Chance worked with Forbes on a global survey of 300 senior business executives, which explored their approach and attitudes to tech-driven growth. In this webinar we will discuss some of the trends and issues raised by the report – including ethical tech, Board reskilling, tech regulation, the workforce of the future, and AI and big data – and how important these are in a post-Covid-19 world. Our speakers looked at the impact these issues could have over the next decade, and what businesses need to think about now.
As we move into the last quarter of 2020, notwithstanding Covid-19 and other pressures, regulators are determined to retire the IBOR benchmarks. This session considered the latest developments from an international perspective and looked at some commonly adopted remediation techniques.
Security token offerings (STOs) involve the offering or issuance of digital tokens to investors using distributed ledger technology (DLT) or blockchain, as an alternative to traditional debt or equity financing options. As the global market for STOs has developed over the last few years, so have the approaches taken by regulators in different jurisdictions. Our panel considered how STOs can be successfully undertaken across key global financial centres and the risks and regulatory challenges to be aware of.
The EU Securitisation Regulation, when it began to apply in 2019, was a significant overhaul of the European regulatory landscape. Now the EU institutions are preparing for the next big round of changes. These include revisions around synthetic securitisations (including extending the STS regime to them) and significant risk transfer, but also some measures around NPLs. In the medium term, the report of the High-Level Forum on capital markets union and the legislated review of the EUSR are also likely to lead to change. We considered what is next for the regulation of securitisation in Europe and what market participants should plan for.
All change for global trade? The future of global trade policy and the impact for UK Free Trade Agreements (October 2020)
Global trade policy is under pressure as a result of Covid-19, questions around the future of the WTO and changing attitudes to globalisation. We discussed the future of global trade policy, including the UK’s progress with negotiating new trade relationships, the EU’s trade priorities and the potential impact of the November US elections on US trade policy, and what these developments will mean for the UK.
A review of significant legal developments for financial markets covering topics such as the effect of Brexit on contracts, the latest on the trust registration requirement under AMLD5, privilege, market standard terms and contractual interpretation.
Winter is coming – can Europe weather the expected restructuring and insolvency storm? (October 2020)
In this webinar, Clifford Chance’s Continental European Restructuring and Insolvency Group considered the impact of Covid-19 and Brexit and asked whether businesses are ready for what is coming, and do they have the tools to cope?
We welcomed two notable political commentators from either side of the Atlantic to consider the implications for the US and the impact of the election on the UK and EU, and the influence of populism.
As the use of Artificial Intelligence (AI) by businesses increases, there are still a number of questions concerning the relationship between AI and intellectual property (IP). We looked at ways in which a typical software licence may not be fit for purpose, issues arising from the exploitation of AI, and the fundamental question of whether AI can create IP rights.
Ethics Series – the challenge of sustaining corporate culture and ethics during Covid-19 (September 2020)
The latest session in our Ethics Series, organised in conjunction with the Canary Wharf G30 Conduct and Culture Group and Canary Wharf Multifaith Chaplaincy, considered some of the practical challenges and ethical issues faced by businesses as a result of Covid-19. Our panel explored if it is really possible to sustain a strong corporate culture and ethics strategy in the context of a pandemic.