UK well placed to lead transformation in financial services through global leadership in Fintech

  • Posted on 29th March 2016
UK well placed to lead transformation in financial services through global leadership in Fintech

The world of financial services is changing fast. The implications of blockchain technology or decentralised ledgers may not yet be a hot kitchen table topic but has the potential to utterly change the worlds of banking, insurance, asset management, and access to finance. In short, it could transform the economy around us. Though the US remains the largest base for…

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Regulatory battles accelerate in the peer-to-peer car sector

  • Posted on 30th June 2014
Regulatory battles accelerate in the peer-to-peer car sector

In recent weeks there have been numerous regulatory developments in the peer-to-peer car sector. The ongoing regulatory battles of Uber and Lyft, in particular, are grabbing the headlines and have illustrated how this is an area in which the regulatory environment is far from settled. The disruptive business models of such companies, all underpinned by advances in technology, are forcing…

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UK moves ahead with crowdfunding regulation

  • Posted on 16th June 2014
UK moves ahead with crowdfunding regulation

The Financial Times recently reported that the amount lent by peer-to-peer websites internationally was almost $3bn in 2013, up from around $100m in 2007. There has been an equally impressive growth in the estimated number of crowdfunding websites, which have grown from 1,100 to 2,700 in the last year alone.   It is no surprise, therefore, that governments and regulators…

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London protest against Uber symptomatic of global backlash

  • Posted on 10th June 2014
London protest against Uber symptomatic of global backlash

Tomorrow’s protest against Uber, by an estimated 12,000 London taxi drivers, looks set to cause considerable disruption and have a significant negative economic impact too.  Figures suggest that the protest could cost London’s economy as much as £125 million (see tonight’s London Evening Standard).  The controversy centres on an app provided to Uber’s drivers – separate from the one used…

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Airbnb agrees to pass on anonymised data to New York regulators

  • Posted on 22nd May 2014
Airbnb agrees to pass on anonymised data to New York regulators

Following a revised subpoena from the New York state Attorney General (read our previous blog here) requesting the personal details of hosts who use Airbnb for short-term rentals, both sides have reached an agreement. Under the agreement Airbnb will provide the Attorney General with anonymised aggregate data on their hosts in New York. This data will initially not include names, addresses or…

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Colorado set to become the first US state to pass statewide ridesharing regulation

  • Posted on 21st May 2014
Colorado set to become the first US state to pass statewide ridesharing regulation

A bill regulating ridesharing services is expected to be imminently signed by Colorado State Governor John Hickenlooper.  This would make him the first US State Governor to sign into law such a bill.  Whilst California was technically the first State to regulate the industry (its rules were created by the State’s Public Utilities Commission), Colorado’s rules are set to be…

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New subpoena issued in battle between Airbnb and New York regulators

  • Posted on 15th May 2014
New subpoena issued in battle between Airbnb and New York regulators

New York State regulators have re-issued a subpoena against Airbnb only a day after the courts dismissed a request against the short-term rental company.   On Tuesday, 13th May 2014, Gerald W. Connolly, the Acting Supreme Court Justice, ruled that a request for information was too broad and the demand for information identifying all hosts in New York, including their…

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London black taxis plan protest over car service Uber

  • Posted on 8th May 2014
London black taxis plan protest over car service Uber

London black-cab drivers are planning to cause gridlock in the city to protest against car service Uber.   The Licensed Taxi Drivers Association complains that Uber’s drivers are using a smartphone app to calculate fares despite it being illegal for private vehicles to be fitted with taximeters.   Transport for London has declined to intervene, because it disagrees that there…

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New York’s Case Against Airbnb Is Argued in Albany

  • Posted on 24th April 2014
New York’s Case Against Airbnb Is Argued in Albany

There was no room for agreement, and no agreement about rooms, in court on Tuesday in Albany. The stewards of the sharing economy think regulators should invent new rules to accommodate their innovative business practices. Regulators think these companies and their customers should accommodate themselves to the old laws. The clash, which is playing out in many cities, is driving an increasingly acrimonious…

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