HM Treasury’s (HMT) latest consultation on the UK regulation of Buy-Now Pay-Later lending (BNPL) includes welcome clarification regarding the scope of regulation and the application of exemptions, plus proposed draft amendments to the existing legislation. We examine the ambit of future regulation, where further clarification is required and the likely impact on consumer experience.
1 MAY 2023The authors look at the progress made to date by the UK government in implementing climate-related disclosure rules and consider the preparatory steps that organisations should take ahead of the inevitable introduction of additional disclosure requirements.
1 DEC 2022In the current economic landscape, which is plagued with high inflation and interest rates, the legal agreements covering intra-group loan transactions are being reviewed with a fine-tooth comb from an arm’s length perspective. This is because loan agreements are a starting point for any transfer pricing analysis and if done properly (ie are arm’s length) can assist in justifying interest deduction locally ensuring that there is no, to limited, double taxation. The question is however – what does an arm’s length loan agreement entail? In this In Practice article, we explore this question and highlight the key aspects to consider with their potential repercussions.
1 APR 2023On 29 November 2022, Mr Justice Butcher handed down judgment in LMN v Bitflyer Holdings Inc. and others [2022] EWHC 2954 (Comm), which is the first successful Bankers Trust application against overseas cryptocurrency exchanges based on the new “disclosure gateway” for service out of the jurisdiction at CPR Practice Direction 6B §3.1(25).
1 FEB 2023The de-banking of customers, and the legal and regulatory implications that can arise, are not new issues. However, those issues have come into sharp focus following recent publicity surrounding a high-profile account closure. This In Practice article considers what payment services firms can expect next following the increased scrutiny from customers, media, government and the regulators.
1 FEB 2024