United Kingdom

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Recent Articles

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    07/02/2025
    CEE, UK

    EU Commission issues guidelines on the definition of AI systems

    The European Commission has issued long awaited comprehensive guidelines on the definition of AI systems, as established by Regulation (EU) 2024/1689 (AI Act). With these practical guidelines the Commission aims to assist providers, deployers, importers, distributors of AI systems in determining whether a system constitutes an AI system within the meaning of the AI Act, thereby facilitating the effective application and enforcement of that Act. The definition of AI systems entered into force on 2 February 2025.Key elements of the AI system definitionDue to the diverse nature of AI systems, the...
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    07/02/2025
    CEE, UK

    EU Commission issues Guidelines on Prohibited AI Practices – Part I.

    The European Commission has issued long awaited comprehensive guidelines on prohibited artificial intelligence (AI) practices, as established by Regulation (EU) 2024/1689 (AI Act). These practical guidelines, which include examples and “use cases”, are crucial for businesses and organisations involved in the development, deployment, and use of AI systems in the EU. They have been issued to ensure compliance with the AI Act, which seeks to balance innovation with the protection of fundamental rights and Union values.This is first of two Law-Now articles summarising these guidelines.Background...
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    05/02/2025
    United Kingdom

    The Department for Energy Security & Net Zero responds to the second REMA Consultation

    1. REMA Autumn UpdateAmongst the flurry of other policy announcements and consultations, DESNZ published their autumn update on the Review of Electricity Market Arrangements (REMA) in December 2024 (“Autumn Update”) together with a summary of consultation responses to the previous REMA consultation. The Autumn Update provides an update on feedback gathered from the second REMA Consultation of March 2024, and ongoing dialogue with stakeholders. This update is crucial for stakeholders as it outlines potential changes to wholesale market pricing and the Contracts for Difference (CfD) scheme,...
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    05/02/2025
    Europe

    European Commission advisory body outlines proposal for revamped Taxonomy

    On 5 February 2025, the Platform on Sustainable Finance (the “Platform”) – an advisory body to the European Commission (“EC”) – published a report setting out its recommendations to simplifying reporting under the EU Taxonomy Regulation (the “Report”).BackgroundIn March 2023, the EC gave a mandate to the Platform to help simplify and improve the effectiveness of the Taxonomy Regulation by enhancing its usability.A pivotal development in this regard is the announcement by EC President Ursula von der Leyen in November 2024 to consolidate...
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    05/02/2025
    Europe

    The ODR platform is closing - What businesses need to know

    The European Parliament and the Council have decided to shut down the EU’s Online Dispute Resolution (ODR) platform. This decision follows a comprehensive review of the platform’s performance and its cost-effectiveness, which fell below expectations. What impact will this have on your business?BackgroundThe ODR platform, which has been operational since 2016, was designed to facilitate the resolution of contractual disputes between consumers and traders arising from online transactions. Since its inception, online sellers and marketplaces trading within the European Union have been...
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    04/02/2025
    United Kingdom

    FCA issues first fine for breach of UK MiFIR transaction reporting regime: key takeaways for firms

    On 29 January 2025, the UK Financial Conduct Authority (“FCA”) issued a Final Notice to Infinox Capital Limited (“Infinox”), fining the firm £99,200 for failing to submit 46,053 transaction reports. While the FCA has previously issued fines for transaction reporting failures under the pre-MiFID II regime, this is the first FCA fine for a breach of the Markets in Financial Instruments Regulation (“MiFIR”) transaction reporting regime since it entered into force on 3 January 2018. As such, while the fine has caught the industry’s attention,...
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