While still onerous, timely interventions have led to dramatically improved legislation
Today, the UK’s National Security Act received royal assent and became law. The legislation was well advanced by the time a key new proposal emerged last year: a foreign influence registration scheme. Its aim, which we supported, was to curb malign covert foreign influence on the UK’s…

Frenetic levels of policy and regulation have dogged the UK in recent years, with companies struggling to keep up and unintended consequences emerging from many major initiatives. Herbert Smith Freehills corporate veteran James Palmer talks about how to bring rigour back to law-making and a stronger business voice to government policy.

You’ve been engaged in…

The post below was first published on our Fintech notes blog.
 
In this regular update, we round-up FinTech-related financial services regulatory developments for the week ending 5 May 2023.
ICYMI
Recent updates from Herbert Smith Freehills include:

• PRA releases 2023/24 Business Plan
• High Court sets aside interim proprietary injunction against cryptocurrency exchange Binance
• A

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11th-hour reforms to the proposed foreign influence policy will be met with relief by businesses, NGOs and charities as Government makes significant changes.
Some concerns remain, and many businesses will still require compliance policies to be put in place for benefits which many will remain sceptical about, but the scope of these will be limited…

Concerns grow that foreign influence policy is misdirected, bureaucratic and risks deterring benign engagement and investment
The UK’s proposed Foreign Influence Registration Scheme is part of a wider package of measures to revamp domestic espionage laws, in this instance via new obligations for a wide range of businesses, across all sectors, and others with international…

The post below was first published on our Real Estate Development notes blog:
It’s been a busy couple of weeks for the future of planning. On 23 September, the Chancellor announced the government’s Growth Plan 2022, and last week has seen Conservative Party Conference speeches from the new Levelling Up Minister, Simon Clarke, and…

Today we have a new Prime Minister, bringing new policies. Much was said during the Conservative Party leadership election about what the new PM will change – a range of promises to the party faithful on the cost of living crisis, energy, housing and the environment to name but a few. The wording was careful,…