Knowledge Notes

UK Knowledge Collection | AI and regulation, APP fraud, and corporate transparency changes

Published on 14th Jun 2024

Welcome to this week's Knowledge Collection

People in a meeting, hands holding pens and going over a graph on a screen

While the EU has passed its AI Act, other jurisdictions continue to wrestle with how to regulate artificial intelligence at both national and international levels. The UK has so far taken a very light touch. Our Insight examines the Conservative and Labour manifestos to see whether businesses can expect a change of approach after the general election. Our webinar next week looks at the impact of the AI Act on the life sciences and healthcare sector.

This week we also look at the implications for receiving banks of two recent cases on authorised push payment fraud (when individuals are tricked into instructing their bank to make a payment to accounts controlled by fraudsters), ahead of a new reimbursement requirement coming into force in October.

Independent professional trustees will need to ensure that they are compliant with the changes introduced by the Economic Crime and Corporate Transparency Act 2023. Our webinar will cover the advantages of operating through a corporate structure and the key actions for trustees to take. Our supply chain and logistics series continues, with webinars on logistic hub development, natural capital, decarbonisation of property portfolios and contingent workforce supply chain risk.

Recent Insights

What will the next UK government do about regulating and supporting AI?

What approach do the Conservatives and Labour parties take to regulation, safety commitments and the digital infrastructure for AI in their manifestos?
Read more >

What are the consequences of and remedies for unlawful dividends in the UK?

Unlawful dividends are complex to resolve, needing specific legal, tax and accounting advice. What constitutes an unlawful dividend, what are the consequences of making one, and what are the possible remedies available in such circumstances?
Read more >

Cyber attack on a UK staffing company:  a 'war story'

Staffing and payroll companies have been hit by a number of high-profile cyber attacks over the last year. What lessons can workforce solutions companies draw from a recent ransomware attack that potentially affected 250,000 people?
Read more >

UK consumer credit firms authorised push payment frauds in England: are receiving banks in the line of fire?

Two recent English High Court judgments have focused attention on the role of receiving banks where a customer of a paying bank has been scammed.
Read more >

Upcoming Events

Unlock the future | Navigating the EU AI regulation in the life sciences and healthcare sector

18 June | 14:00-15:00

We will explore the fundamentals of the EU's new AI Act and its application in the life sciences and healthcare sector.
Register now >

Natural capital: gain first mover advantage

21 June | 10:00 – 10:45

Businesses that engage early with impending obligations, such as biodiversity net gain and water and nutrient neutrality, as well as with other voluntary developments in the natural capital space could have significant advantages.
Register now >

Decarbonise your portfolio through rooftop solar

25 June | 10:00-10:30

Increasing ESG reporting requirements and energy price volatility are just two of the many pressures on businesses to decarbonise property portfolios. Rooftop solar and battery storage solutions could be the answer.
Register now >

Contingent worker supply chains: hidden tax, worker misclassification and compliance risks

27 June | 10:00-10:45

Businesses across all sectors are at heightened risk of significant financial liability and reputational damage in relation to the use of contingent workers in their supply chains. With tax authorities actively targeting unlawful tax avoidance and worker misclassification, this webinar will help you identify and mitigate the risks to your business.
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Independent professional and corporate trustees: the impact of corporate transparency changes

27 June | 11:00-11:30

The webinar will look at the impact of changes in the Economic Crime and Corporate Transparency Act 2023 on independent professional and corporate trustees.
Register now >


* This article is current as of the date of its publication and does not necessarily reflect the present state of the law or relevant regulation.

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