What's on the horizon for corporate/commercial law?
08 March 2016
Below are a few things to look out for on the corporate/commercial horizon. We’ve got the ICO taking data protection more seriously than ever before, the UK calling for transparency over who owns the businesses running our economy, and working towards a simpler, fairer way of trading with UK consumers.
BIS calls for evidence on consumer terms and conditions. Consultation opens 1 March 2016 and will close on 25 April 2016.
- BIS has published an online questionnaire asking individuals and organisations to participate. BIS is seeking views on how consumers and businesses use terms, and how they can be improved to make them clearer, simpler and more accessible. Specific areas addressed include whether there should be a general requirement to make terms "succinct, bold and upfront" and whether measures such as auto-opening of terms online, a simple index and key facts sheets would make terms easier to understand.
ICO issues record £350,000 fine for 46 million automated calls
- Companies must take data protection laws seriously. The above fine issued by the ICO was following a case involving 46 million cold calls to obtain personal details and selling them off to other companies.
Transparency over beneficial ownership of companies
- Companies are required to disclose information in relation to who ultimately owns/runs the company. These are part of new measures to help increase confidence in the UK market.
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