FCA policy statement PS22/8 “Protecting investors in authorised funds following the Russian invasion of Ukraine” sets out emergency measures to deal with the impact of the Russian invasion of Ukraine on authorised funds and retail investors, and came into force on 11 July 2022.
International shipping rates are at all-time highs, and continuing parts shortages (e.g., semiconductors) could lead to disruptions lasting until 2023, meaning companies in the sector will need to tighten up the management of their supply chains.
On 27 July 2022, the Financial Conduct Authority (FCA) published a Policy Statement (PS22/9) and Finalised Guidance (FG22/5) setting out final rules and guidance on the new Consumer Duty (the Duty). The Duty sets higher expectations of the standard of care that firms give consumers.
The European Commission announced two proposals which aim to strengthen sanctions compliance and effectiveness across the EU.
On 19 July 2022, the UK Government issued legislation which changed the definition of a “relevant firm” to now include crypto-asset exchange providers and custodian wallet providers (“Crypto Firms”). As such Crypto Firms will now have reporting obligations under UK sanctions legislation.
This briefing summarises the key developments from 1 July 2022.
The Swedish parliament passed a bill which implements the EU directive (2019/1152) on Transparent and Predictable Working Conditions. This directive was introduced with the objective of raising employment standards throughout the EU with more transparent and predictable conditions of work. Based on these changes you should update your employment contract templates and also your HR guidelines where relevant.
All employers operating in the EU are likely to be required to make changes to their current arrangements to take account of the requirements of the EU Directive on transparent and predictable working conditions. Effects may also be seen beyond the EU, where multi-national employers seek to “level-up” their arrangements.
The Sick Leave Act 2022 (the “Act”) which provides for a statutory sick pay scheme for employees was signed into law by the Irish President on the 20 July 2022.
This briefing highlights some emerging legal risks associated with hybrid working and considers how employers should plan going forward.