Latest Legal and Regulatory news update - 06 December 2019

Latest Legal and Regulatory news update - 06 December 2019

In this issue we cover:

Risk & Compliance

Commercial

Corporate

Information Law & TMT

Employment

This month’s edition of Risk and Compliance highlights includes: (1) crime prevention; (2) AML & CTF; (3) information management & security; (4) GDPR and data protection; (5) a selection of other news and updates; (6) all the latest new and updated content. See: Risk & Compliance monthly highlights—November 2019.


Data protection

The Information Commissioner’s Office (ICO) has launched a campaign aimed at contacting all registered UK companies to remind them of the legal responsibility they have to pay a data protection fee, as part of a wider programme to ensure the data protection fee is paid by everyone required to do so. Under the Data Protection Act 2018, organisations that process personal data are obliged to pay the fee, unless exempt. See: LNB News 03/12/2019 43.

The ten largest fines levied in 2019 for breaches of the GDPR totalled €402m, figures released show, but few companies, if any, have been covered by cyber-insurance, lawyers say. See News Analysis: Biggest EU data breaches incurred €402m in fines in 2019.


AML & counter-terrorist financing

Changes to cannabis laws around the world have created a raft of business and investment opportunities, but financial institutions in the UK could find themselves on the wrong side of the country’s anti-money laundering laws by handling funds generated by legal cannabis sales. See News Analysis: UK AML laws cast a haze over legal cannabis investment.


Commercial

Contracts

In the case of Venson Automotive Solutions Ltd v Morrison’s Facilities Services Ltd [2019] EWHC 3089 (Comm), the High Court considered the interpretation and purpose of ‘no set-off’ clauses and how they impact on parties’ rights and remedies. Written by Neil Fawcett, specialist business and property barrister, at 3 Paper Buildings. See News Analysis: ‘No set-off’ clauses in Venson Automotive

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About the author:
Allison is a former partner of Shoosmiths, with extensive experience of legal management and practice compliance.