Introduction

Welcome to the latest edition of our Finance Focus, looking at some of the legal issues our financial services sector clients have been experiencing over the last few months.
 
For trade financiers, the key security role of the bill of lading is facing a further challenge following the Unicredit Bank AG v Euronav NV case while for those in the world of M&A and corporate finance, the new edition of notes (2023) being incorporated into the NSI Regime guidance provides for an accelerated assessment process in cases involving 'material financial distress'.
 
The economic climate is such that many are now planning for increased insolvencies so we highlight some traps and, more helpfully, some tips for directors wishing to protect themselves in a downturn. We also consider the impact of the Biden/Sunak joint announcement in June of a commitment in principle to establish a 'data bridge' for UK to US and EU to US data flows.
 
Finally, but most importantly, we turn to digital issues that now underline so much of the legal advice we are providing, looking first at the liability of blockchain developers and then the impact of empowering AI in employment decision making. 
 
At the end, you will find details on a selection of our financial services events in the months ahead, which you would be very welcome to attend.