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Sue McLean

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Questions continue to arise over the interplay of the second Payment Services Directive (PSD2) with the General Data Protection Regulation (GDPR). Both PSD2 and the GDPR are complex legislation and the relationship between distinct provisions of each law and how they work together is not altogether clear, which has led to uncertainty for payment service providers, including banks. For example, when is “consent” required to access payment data and what does consent mean? To this…

On 7 September 2020, the Tech London Advocates’ (TLA) Blockchain Legal and Regulatory Group and the Law Society of England and Wales published a new joint report which sets out key issues for legal practitioners to be aware of when advising on distributed ledger technologies (DLT). Launched to coincide with the start of London Tech Week 2020, the new guidance explores a range of topics and provides a list of key recommendations on aspects relating…

The concept of the “Internet of Things” (IOT) is now well established in a consumer context. Prior to COVID-19, many industrial companies were already on considering various Industrial IOT (IIOT) use cases. COVID-19’s widespread disruption to companies operating in the sector confirmed the strategic need to embrace digital tech and automation. There are key legal issues to consider on data, service performance and cybersecurity when commencing an IIOT project. Key Takeaways The application of IIOT…

Society’s attitude towards the technology sector has changed as technology has become intricately woven in our daily lives. This change in perspective and the accelerated rate with which we have come to rely on technology due to the pandemic has made it necessary for a new approach in regulation as well. In this episode of TMT Talk, Raffaele Giarda, Ben Allgrove and Sue McLean have a thought-provoking conversation about the shift in attitudes to disruption in the sector, how the…

The UK Government Department for Digital, Culture, Media & Sports (DCMS) has announced plans to introduce a new law aimed at ensuring that internet-connected products are secure by design, and protecting users from the threat of cyber-attacks. The proposed new law, announced by DCMS on 27 January 2020, will require that: all consumer internet-connected devices have unique passwords that are not resettable to any universal factory setting; manufacturers of consumer internet-connected devices provide a public point…

An expert legal statement was published by the UK Jurisdiction Taskforce (UKJT, a taskforce of the UK’s Lawtech Delivery Panel) on recognising cryptoassets as property and smart contracts as enforceable agreements under English law. The two key takeaways: In principle, cryptoassets are to be treated as property under English law.A smart contract is capable of having contractual force. For more details, read the full article on Baker McKenzie’s dedicated blockchain blog.

Japanese cryptocurrency exchange CoinCheck confirmed on 26 January 2018 that it has been the victim of a massive hack, resulting in what would appear to be the largest cryptocoin theft of all time. In a press conference CoinCheck admitted that the current understanding was that the hackers had stolen around 523 million of the exchange’s NEM coins which, at the time of detection, were worth around $534 million. This would surpass the $400 million worth of…