UK Knowledge Collection | Regulatory outlook, cyber security in financial services firms, and green hydrogen
Published on 24th Jan 2025
Welcome to this week's Knowledge Collection.
AI, digital regulation and ESG will continue to be areas of focus for businesses, regulators and legislators alike this year. The EU's AI Act ban on prohibited practices comes into force next month and the UK has published its "AI Opportunities Action Plan"; new consumer law powers under the Digital Markets Competition and Consumers Act for the UK's competition regulator start in April; and the first in-scope companies are due to start reporting under the EU Corporate Sustainability Reporting Directive in 2025, for the financial year 2024. Our Regulatory Outlook considers the main changes coming down the track, and includes a timeline to help businesses plan.
Maintaining cyber security remains critical for businesses. Our Future of Financial Services series include a webinar on next steps for financial services firms and their ICT suppliers now the EU's Digital Operational Resilience Act (DORA) applies and a webinar on how UK firms should manage a cyber breach, which can trigger investigations from both the Financial Conduct Authority and the Information Commissioner's Office.
And Osborne Clarke has published a white paper, "Unlocking Green Hydrogen Projects", exploring how green hydrogen can be successfully integrated into the UK's wider economy, with comparative Insights from other European jurisdictions.
Recent Insights
The UK AI Opportunities Action Plan: what it means for business
The government wants to ramp up AI adoption across the UK to power economic growth.
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Crypto exchanges face increased risk in UK for failing to prevent tax evasion by investors
New reporting rules, expected to come into force in 2026, will introduce additional risks for digital asset platforms and crypto exchanges, including corporate criminal prosecution for failure to prevent tax evasion by investors.
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UK Employee Incentives Update | January 2025
Employers will be preparing for the tax changes announced at the Autumn Budget that take effect from 6 April 2025 – in particular, the increase in the rate of employer's national insurance contributions and the reduction in the threshold at which employers start paying them.
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Regulatory Outlook
Our January edition includes an interactive timeline for key dates to note this year in 19 regulatory areas.
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How to overcome investment barriers to green hydrogen projects
For green hydrogen to develop into a viable commodity, policy challenges, stakeholder interests and financial mechanisms need to align. Osborne Clarke's white paper considers the role of demand creation, infrastructure and financing in shaping the sector's future.
Read more >
Upcoming Events
Construction Disputes Review of the Year
29 January | 09:00-10:00
A deep dive into key cases from the past 12 months.
Register now >
Future of Financial Services: 4-6 February
Deciphering DORA
4 February | Webinar | 09:30-10:30
Next steps for firms and third-party ICT supplier to consider as the EU Digital Operational Resilience Regulation applies from 17 January.
Navigating digital regulation
4 February | Webinar | 12:30-13:30
How to keep track of digital regulation affecting financial services.
Into the (cyber) breach
4 February | Webinar | 15:30-16:30
Strategies for managing simultaneous FCA and ICO investigations and meeting both regulators' requirements after an incident.
Growing your business in a challenging environment
5 February | One London Wall | 12:30-20:00
A half-day in-person event followed by networking drinks. View agenda >
Fincrime: AML, sanctions and fraud
6 February | Webinar | 09:30-10:30
Insights on the direction of travel for anti-money laundering and financial crime compliance.
Financial Services case law: the ones that got away
6 February | Webinar | 12:30-13:30
A round-up of financial services English law cases.
The rising tide of group litigation
6 February | Webinar | 15:30-16:30
Opt-in and opt-out collective actions are rising in the UK, and the financial services sector is in the firing line. What can the sector expect in future?
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Managing liability and disputes in the international satellite sector
25 February | 10:30-12:00
Our telecoms, defence and space groups host an online roundtable under the Chatham House rule on managing liability and disputes in the international satellite sector.
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Dipping into Data | CJEU round-up
30 January | 16:00-16:30
A comprehensive round-up of the practical implications of recent data-related rulings of the Court of Justice of the EU.
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GDPR for HR: 12-month glance back and look forwards
5 March | One London Wall | 17:15-19:30
Our in-person event at our London office considers recent privacy developments and what's on the horizon for the processing of HR-related data, including the use of AI in the workplace, data subject access requests and ICO enforcement.
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