We take a look at the most read Lexology articles in August and explore how Lexology PRO can help transform your legal research.
SMCR: FCA updates expectations on fitness and propriety assessments and conduct rules training
The UK’s Financial Conduct Authority (FCA) has published an update on the Senior Managers and Certification Regime (SMCR) for solo-regulated firms. Firms should be able to demonstrate that they are making regular, thorough and consistent assessments of the fitness and propriety (F&P) of senior managers and certification staff. A table is included in the update that includes positive and negative indicators to use in an assessment, as well as guidelines for staff training on conduct rules.
You can access the full FCA update here.
European Commission launches consultation on carbon border adjustment mechanism
The European Commission has published a consultation on a carbon border adjustment mechanism (CBAM). The mechanism aims to ensure equivalent carbon costs between imports and goods produced in the EU.
Find out more about this here.
A path forward for open banking
Banks have traditionally decided how customer data is stored and accessed. Open banking seeks to put the customer in charge of their own data. How far are the US and UK in the development of an open banking system? We take a closer look at the approach taken by the UK FCA and the US Consumer Finance Protection Bureau (CFPB).
France’s highest administrative court provides insights on lawful cookie practices
In a decision on 19 June 2020, France’s highest Administrative Court (Conseil d’État) upheld much of the July 2019 guidance from the French Data Protection Authority (CNIL), but struck down the provision imposing a blanket ban on so-called “cookie walls”. CNIL said that it would update its guidance to comply with Conseil d’État’s decision.
Read more about this here.
Build cross-border reports by using our Data Protection & Privacy global comparison tool and dive deeper with The Privacy, Data Protection and Cybersecurity Law Review for in-depth analysis.
Australian government faces class-action over failure to disclose climate change risks
A class-action claim has been filed by investors against the Australian government, alleging that it failed to disclose material climate change risks relating to its bonds. Australia is one of the most active jurisdictions for climate change litigation and since September 2019, activists and advocacy groups globally have used litigation to address climate change issues.
We take a closer look at this class-action here.
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