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  19/04/2024

  United Kingdom

  Digital asset insolvency issues not insoluble for English law

  Digital assets may be new, but existing English insolvency laws and principles can deal with them. So finds the UK Jurisdiction Taskforce (UKJT) in its ‘Legal Statement on Digital Assets and English Insolvency Law’, published this week.Key takeaways include:English insolvency law is entirely capable of application to scenarios concerning digital assets, including the technical and fact-specific issues that may arise. Digital assets are capable of amounting to property for the purposes of English insolvency law. When figuring out which country has jurisdiction, the English...

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  19/04/2024

  United Kingdom

  Is the UK’s “pro-in­no­va­tion” approach to AI regulation sustainable? TUC continues its call for legislation with publication of AI Bill

  The potential impact of artificial intelligence (AI) on the world of work is enormous. The UK AI industry is estimated to be worth over $1 trillion by 2035 and a recent research paper anticipates that up to 59% of job tasks will be impacted by generative AI. However, given the risks involved in using AI, there is clearly a balance to be struck in terms of capitalising on AI’s huge economic potential while putting in place appropriate safeguards to protect the workforce.There is currently a global divergence in AI regulation. The UK government has so far chosen to take a light touch, or ‘pro...

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  18/04/2024

  United Kingdom

  Transparency: ECCTA 2023 and Register of Overseas Entities update

  The Economic Crime and Corporate Transparency Act 2023 (ECCTA), which is aimed at tackling economic crime and preventing abuse of corporate structures in the UK, will not only fundamentally reform the administrative requirements for UK companies, limited liability partnerships and limited partnerships generally, but will also expand the requirements of the Register of Overseas Entities (ROE) regime for overseas entities holding or acquiring UK real estate.  The ROE is a register at Companies House which came into effect on 1 August 2022. Here are some FAQs providing information about...

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  18/04/2024

  International

  Transforming the Legal Landscape? The Impact of LLMs

  Large Language Models (LLMs) are a branch of artificial intelligence (AI) that can generate human-like text based on deep learning techniques. LLMs are trained on massive amounts of textual data, such as books, articles, and websites, and learn to recognise patterns, structures, and relationships within the data. By doing so, they develop the ability to produce text on various topics. The presence of LLMs in the legal sector is increasing and, with this, the ability of lawyers to understand and use LLMs in providing quality advice to their clients is becoming more important. CMS have a dedicated...

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  17/04/2024

  Scotland

  Bioenergy in Scotland – Scottish Government’s Draft Policy Statement focusses on sustainability and resilience

  IntroductionThe Scottish Government (“SG”) has launched a consultation on its draft Bioenergy Policy (the “SG Bioenergy Policy”), with responses to be submitted by 12th June 2024. This article provides a brief overview of the SG Bioenergy Policy’s main features and how it compares with its counterpart, the “Biomass Policy Statement” which was published by the UK Government in November 2021, subsequently laying the foundation for the Biomass Strategy released in 2023.BackgroundThe draft SG Bioenergy Policy sets out the role SG envisages bioenergy playing...

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  17/04/2024

  Europe

  CMS data protection update (04/2024)

  I. The latest from the data protection authorities and current topics1. EDPB: Launch of coordinated enforcement on the right of accessThe European Data Protection Board (EDPB) selected the right of access under Article 15 GDPR as the focus of the third coordinated enforcement action of the data protection authorities. Coordinated enforcement has now begun and aims to help assess how the right of access is implemented in practice and to what extent adjustments or clarifications are needed in the EDPB's Guidelines on this topic. Last year’s results of the coordinated enforcement action on the...

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