A regular briefing for the alternative asset management industry. 

As part of Pride season, we are running a series of short podcasts providing an insight into the lives and experiences of LGBT+ leaders. These exceptional individuals come from a diverse range of backgrounds and will be sharing with listeners their experiences of LGBT+ inclusion in their respective industries, and also some ideas on what more allies can do to promote LGBT+ equality.

Among a number of tech sector related proposals announced in the recent Queen's Speech, were the Government's plans, 'as soon as parliamentary time would allow' to legislate to create a legal obligation of 'security by design' in respect of consumer Internet of Things connected devices ("Consumer Connected Devices"). In this briefing we take a look at what sort of devices and who the proposed legislation will apply to, and what will be required to comply.

In February, the Government announced a package of measures intended to resolve the problem of unsafe cladding on high-rise residential buildings.  

The TCFD Roadmap unfolds

Travers Smith recently collaborated with cyber security risk management firm, FTI Consulting in relation to the latest episode in its global podcast series: 'The Expert Briefing'.

Summary

• The New EU SCCs will come into force on 27 June 2021 and data exporters subject to GDPR will have until 27 December 2022 to transition their existing arrangements to the new clauses.
  
  
• They are modular in approach and cover the following scenarios: C to C; C to P; P to P; P to C, with some general clauses applying to all the scenarios, and some tailored to each scenario.
  
  
• They will require the parties to carry out a Schrems II-style transfer impact assessment in respect of the local laws and practices of the destination country, but there is some flexibility for the parties to use their judgement based on the nature of the data transfer and their practical experience.
  
  
• They will increase the compliance and accountability burden, GDPR-style, on data importers which previously might not have been used to such measures.
  
  
• The new clauses are an improvement in some ways (particularly in terms of providing specifically for P-P transfers (a major gap in the old clauses)) and by incorporating Article 28 wording such that, when using the C-P module, the parties do not also have to enter into an Article 28-style DPA. However, the new SCCs do not improve the current duty on data exporters to consider where local laws may impact on the importer's ability to comply with the contract and the rather impossible obligation to then take some sort of corresponding action to address that.

Senior Partner Kathleen Russ was interviewed by Globe Law and Business in a special report on law firm management, on the lessons she has learned throughout her impressive career as a tax lawyer and senior partner. Kath was interviewed alongside other notable legal figures, including: Olayemi Anyanechi Founder and Managing Partner, Sefton Fross, Rafael Fontana Senior Partner, Cuatrecasas, and Aku Sorainen Founder and Senior Partner, Sorainen. 

On 16 June 2021, the UK Committee on Climate Change ('CCC') issued its third report on the state of the UK's preparedness for the risks and opportunities of climate change impacts. "Climate change adaptation", changes that allow us to prepare for and live with the inevitable impacts of climate change, is recognised as, in some respects, as important as climate change mitigation, or actions to reduce the scale and speed of climate change itself.

Welcome to our series of short videos looking at commonly encountered liability issues in commercial contracts. The topics covered in this series include liability caps, excluding liability for negligence, the Unfair Contract Terms Act and the distinction between direct and indirect loss.

Welcome to the fourth in our series of short videos looking at commonly encountered liability issues in B2B commercial contracts. The topics covered in this series include liability caps, excluding liability for negligence and the Unfair Contract Terms Act.

This series of bitesize videos will be a chance to hear from various members of the Real Estate team on need-to-know updates and topical issues in the sector.

The UK Government has announced a further extension to certain protective measures for businesses which are currently in place in response to the COVID-19 pandemic.

It is no longer news by now that after 35 years as a mainstay of the financial markets, LIBOR is to be discontinued, with the majority of tenors and currencies scheduled to be published for the last time on 31 December 2021.

In the second of a series of articles looking at how Brexit is working out for the UK, we discuss tariff reductions that took effect on 1 January 2021. Which sectors benefit, what will be the wider impact and what more could be done?

In addition to COVID-19, climate change was one of the headline issues at the G7 summit in Cornwall over the weekend of 11-13 June 2021. The leaders of some of the world's richest nations, whose average carbon footprint per person is thought to be double the global average (triple for the US and Canada), made several climate-focused pledges, but critics claim that the detail of how to achieve them, and the finance needed to do so, were both missing.

As part of Pride season, we are running a series of short podcasts providing an insight into the lives and experiences of LGBT+ leaders. These exceptional individuals come from a diverse range of backgrounds and will be sharing with listeners their experiences of LGBT+ inclusion in their respective industries, and also some ideas on what more allies can do to promote LGBT+ equality.

As part of Pride season, we are running a series of short podcasts providing an insight into the lives and experiences of LGBT+ leaders. These exceptional individuals come from a diverse range of backgrounds and will be sharing with listeners their experiences of LGBT+ inclusion in their respective industries, and also some ideas on what more allies can do to promote LGBT+ equality.

The synergies between competition law compliance and data protection compliance are becoming more pronounced, even more so since the UK Information Commissioner's Office (ICO) and the Competition and Markets Authority (CMA) recently set out their blueprint for co-operation in digital markets.