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In this issue:

In-house resources, events and networking

Risk & Compliance

Commercial

Corporate

Employment

Information Law & TMT

New and updated content—In-house Advisor

New and updated content—Risk & Compliance

New and updated content—Commercial

New and updated content—Employment

New Q&As

In-house resources, events and networking

Crafty Counsel videos available in Lexis®PSL

������Ƶ® has entered into a content sharing partnership with , the market-leading provider of video guidance for in-house lawyers.

A selection of Crafty Counsel videos are now available within Lexis®PSL—you can find them in the ‘Training for you and your team’ topic within and they are also available alongside practical guidance and tools in related Lexis®PSL subtopic areas. Practice Note: Crafty Counsel videos in Lexis®PSL In-house Advisor contains a consolidated list of all the videos available.

Networking and forum events

There’s no need to feel isolated if you’re working from home—join one of our virtual networking or forum events. Even if you aren’t working from home, take some time to network with your peers, find out what challenges they’re facing and how they are meeting those challenges.

Risk & Compliance

ICO approves three UK GDPR certification scheme criteria

The Information Commissioner’s Office (ICO) has approved three certification scheme criteria under the UK's General Data Protection Regulation, (UK GDPR) to help organisations demonstrate compliance and inspire trust in the people using their products, processes and services. The approved scheme criteria include ADISA's standard to ensure personal data is handled correctly when IT equipment is re-used or destroyed and the Age Check Certification Scheme's criteria relating to age assurance and children’s online privacy.

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UK’s first EU GDPR fine, on Doorstep Dispensaree, cut by two-thirds on appeal

MLex: A tribunal has slashed the UK’s first-ever fine imposed under the EU’s General Data Protection Regulation (EU GDPR), . Pharmacy Doorstep Dispensaree appealed its £275,000 penalty, imposed in 2019 for failing to ensure the security of personal data. The First-tier Tribunal has now said that the fine should be cut to £92,000 as the original amount was based on an inaccurate measurement of the data breach’s severity.

See News Analysis: .

Global money-laundering problem still dwarfs crackdown efforts despite some momentum

MLex: While news this week that global money laundering fines in the first half of 2021 hit almost US$1bn sounds impressive, that conclusion would be misleading. The total is made up of several huge fines and a scattering of tiny ones, indicating continued patchy enforcement in many parts of the world. Efforts to stamp out dirty money flows involving financial institutions have a long way to go.

See News Analysis: .

UK Finance assesses impact of thematic sanctions replacing geographic ones

UK Finance has published a blog on thematic sanctions and how they will affect sanction compliance, indicating it does not believe thematic sanctions will have a major practical impact on financial organisations. Thematic sanctions are more flexible, creating one framework for all offenders, and reducing human rights impacts on individuals within geographic sanctions, who are often already suffering.

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Impact on solicitors’ undertakings given in property transactions post-Harcus Sinclair v Your Lawyers

Iain Miller, partner at Kingsley Napley, discusses the Supreme Court decision in Harcus Sinclair LLP v Your Lawyers Ltd and its possible impacts on solicitors’ undertakings given in property transactions.

See News Analysis: .

Commercial

Banking security documents signed by UK companies—some differences between English and Scots law

In cross-border banking transactions involving English and Scots law security documents, being on top of the two legal systems’ different signing requirements can help UK companies ensure a smooth signing and completion process. While there is some common ground when signing traditional security documents in wet ink, increased use of electronic authentication has highlighted some key differences between English and Scots law.

See News Analysis: .

Product safety regulation—additional time to apply new marking

The Department for Business, Energy & Industrial Strategy (BEIS) has announced that businesses must be ready to apply the UK Conformity Assessed (UKCA) marking by the new deadline of 1 January 2023. The UKCA marking replaces the CE Mark in the UK and allows the UK to have control over its goods regulations after Brexit, with the idea being that it sets and maintains high industry product safety standards. Businesses have been able to use the UKCA mark since 1 January 2021 to demonstrate their conformity with product standards in England, Scotland and Wales. Recognising the impact of the pandemic on businesses, the government has given businesses an additional year to apply the new product safety markings, originally scheduled for 1 January 2022. The extension means that the CE mark must be replaced by UKCA marking by 1 January 2023. For medical devices, businesses will not need to use the UKCA marking until 1 July 2023. The extension will be given effect by the introduction of a new statutory instrument under of the European Union (Withdrawal) Act 2018 later this year.

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Weekly roundup of HMRC post-Brexit import, export and customs guidance—23 August 2021

HMRC has updated its import, export and customs guidance to reflect the post-Brexit regime. The update covers the period from 16 August 2021 to 23 August 2021.

See: .

Corporate

CMA responds to BEIS consultation on restoring trust in audit and corporate governance

The Competition and Markets Authority (CMA) has published its to the consultation on the BEIS White Paper on restoring trust in audit and corporate governance. The CMA has welcomed BEIS’ proposals, which focus on ways to restore healthy competition to the audit market and offers advice to address concerns which the CMA raised during its audit market study. The CMA also highlighted numerous factors that BEIS should consider when reforming the audit market.

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FRC publishes bulletin on UK private sector financial statements

The Financial Reporting Council (FRC) has published a showing a compendium of illustrative auditor’s reports on UK private sector financial statements. The illustrative reports show how the requirements of ISA (UK) 700 (Revised November 2019) and other relevant standards and applicable legal and regulatory requirements can be applied. The FRC has stressed the importance of auditor’s reports being clear, unambiguous and in language that is understandable to those whose technical knowledge of the auditing standards may be limited.

See: .

CDSB launches online course and releases guidance on disclosure of water information

The Climate Disclosure Standards Board (CDSB) has an and released on the subject of helping companies disclose water-related financial information to investors. According to the CDSB, its new water guidance ‘offers companies a means of developing their reporting practices and ensuring that investors are receiving the information needed to drive the transition to a sustainable, resilient, and water secure economy’.

See: .

Employment

Company car fuel: revised advisory rates to take effect from 1 September 2021

The government has released new advisory fuel rates for employers with company car schemes, which apply to all journeys made on or after 1 September 2021. The rates are being increased by 1p per mile for petrol cars. Rates are also being increased for diesel cars—by 1p per mile for cars with engine sizes up to 2000cc and 2p per mile for cars over 2000cc. The rates for LPG cars are being reduced, by 1p per mile for LPG cars with engine sizes up to 2000cc and by 2p per mile for LPG cars with bigger engines. The rate for all fully electric cars is remaining the same.

See News Analysis: .

Dismissal of teacher suspected of possessing indecent images but not yet prosecuted could be fair SOSR dismissal

In L v K () the dismissal of a teacher charged with, but not prosecuted for, the serious criminal offence of possession of indecent images of children could be a dismissal for some other substantial reason (SOSR) and, even though the employer had insufficient evidence to conclude the employee was guilty of the offence, the dismissal was fair, according to the Inner House of the Court of Session, overturning the decision of the EAT.

See News Analysis: .

Information Law & TMT

ICO publishes blog on Children’s Code coming into force

The ICO’s Executive Director, Stephen Bonner, has written a blog post in anticipation of the Children’s Code (the Code) coming into force on 2 September 2021. The article considers the impact the ‘ground breaking code’ is already having globally but warns that the Code will not eradicate the risks to children’s privacy online. It also outlines how the ICO plans to proactively engage with social media platforms on how they are designing and adapting their policies in line with the Code.

See: .

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