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Yearly Archives: 2021
Financial Services Spring update
Join members of Collyer Bristow’s Financial services team as they discuss the latest issues facing the industry as we begin to emerge from the lockdown and come to terms with the impacts of the pandemic and Brexit. Nigel Brahams, Partner, …
Posted in Videos
Tagged brexit, ESG, LIBOR, libor transition
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Buying a private jet: Purchasing
Head of Collyer Bristow’s Luxury Assets team, Howard Ricklow is joined by JetCraft’s Sales Manager, Colin Dunne to discuss the intricacies of buying your first jet. From cosmetics to charter, they cover the most frequently asked questions from private clients …
Posted in Videos
Tagged first time purchase jet, Jetcraft, private aviation, private jet, purchasing private jet
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Government asks landlords and tenants for views on commercial rents and Covid pandemic
The government moratorium on landlords, that prevents the forfeiture of a lease for non-payment of rent and on the statutory use of winding up orders, will come to an end on 30 June. Whilst the government has extended these restrictions …
Posted in Shorter Reads
Tagged government, landlord, moratorium, real estate, tenant
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LIBOR TRANSITION UPDATE: q1 2021
FCA announcement on future cessation and loss of representativeness of the LIBOR benchmarks In March this year, the FCA confirmed that all 35 LIBOR settings will either cease to be published by the ICE Benchmark Administration and/or will no longer …
Right to disconnect – will this become a new legal right?
A recent poll by Opinium showed that about 35% of remote workers said their work-related mental health had worsened during the pandemic. 30% of those surveyed said they were working more unpaid hours than before, with 18% reporting at least …
Posted in Longer Reads
Tagged CoronaVirus, mental health, remote working
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Bank of England & Treasury announce taskforce to explore UK Central Bank Digital Currency
The Bank of England and HM Treasury have announced the creation of a Central Bank Digital Currency (CBDC) Taskforce, tasked with the exploring the establishment of a UK CBDC. A CBDC would be a new form of digital money issued …
Posted in Shorter Reads
Tagged bank of england, CBDC, crypto, treasury
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Is your personal data safe on Zoom?
Over the course of the Pandemic, Zoom, together with other video conferencing applications, has become an indispensable business tool. But the platform has been beset by reports of a number of security and privacy problems. “Zoom bombing”, where a private Zoom meeting is hijacked by uninvited outsiders (or even invited participants), who disrupt or post offensive material within the meeting, has affected a growing number of users.Better security measures, both within the platform and applied by meeting organisers, seems to have largely resolved this particular problem but others are still only partially resolved, or not at all. A helpful article on the Tom’s guide website (Zoom security issues: Here’s everything that’s gone wrong (so far) | Tom’s Guide) provides a detailed, and quite lengthy, list of the issues and their current status.As with the recent report about the Estate Agent’s video of a house in Devon that showed a large quantity of the personal data of the house owners, using a video conference facility needs some prior thought and planning. Apart from your personal appearance and positioning, what else is visible on screen when you have your camera on? If it includes personal material such as family photographs or confidential documents, or items such as an asthma inhaler or a stairlift that would indicate particular heath problems, it would be very sensible to make sure that these cannot be seen.If a business wishes to introduce some new technology it should carry out a detailed data privacy impact assessment. At a more basic level, some simple pre-planning and checks can and should be applied by individuals as well. Use of passwords and two-factor authentication are recommended. Of course, these steps will only help if the Zoom bomber is not invited. It seems that increasing numbers of meeting-disrupters are invited participants, so in those cases there need to be effective steps for such participants to be muted or removed from the meeting. Since November 2020 Zoom has now improved its functionality on these issues.The article concludes that Zoom is much safer than it was, and that the problems it has experienced and had to resolve have helped to make it a safer and better video conference platform. So the message is to carry on using Zoom, but just take some sensible precautions to minimise the risks of inadvertent or unauthorised disclosure of personal data.
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Insurance industry dips its toes into the digital assets space
The insurance industry is dipping its toes into the digital assets space, and it’s good news. This week, NYDIG, a company which provides Bitcoin focused asset management, custodial and technology solutions secured $100m in investment from some of the US’s …
Posted in Shorter Reads
Tagged bitooin, insurance, investment, Liberty Mutual, NYDIG, Starr
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Alfresco dining opens up – but what do you need to know?
THE PROBLEM The UK’s bars, pubs and restaurants will once again reopen to customers from 12 April. However, tough restrictions will mean that diners will only be allowed to eat and drink outside. The government is looking to make it …
Posted in Shorter Reads
Tagged CoronaVirus, hospitality
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Firmware cyber-attacks: the next big thing?
An interesting article in the BBC news highlights a lesser-known, but potentially devastating cyber-threat for medium to larger businesses – a hack into their computer firmware. A survey conducted by Microsoft has found that 80% of firms have experienced a firm ware attack in the past 2 years, but less than a third of security budgets are allocated to protect firmware. In addition, the US National Institute of Standards and Technology has recorded a 5 fold increase in firmware attacks in the last 4 years. Covid lockdown has created an environment where the time and trouble needed to arrange such an attack has become much less of a problem for cyber-criminals.Firmware is the inbuilt code which controls each component in a PC. It is harder to access than software, but if infiltrated it can be almost impossible to detect, and may leave no trace. Regular patch updates for the firmware as well as the software can reduce the risk of an attack succeeding, but because it is more complicated to put in place, it may be overlooked or delayed.While the risk is only likely to be significant for medium to large size businesses, it is clearly a growing threat that should be considered as part of the data risk management strategy of all larger businesses. With more staff working from home and connecting remotely to work servers, each external device which connects provides an opportunity for hackers. Steps that should be taken include a review of how and through which devices employees connect to the central system, a reassessment of technical and organisational cyber-security measures to ensure that firmware protection is given sufficient prominence, and further training for employees to raise awareness of the risks and ensure that they take the necessary steps to keep any authorised personal devices up to standard with recommended protection measures. This last is perhaps the most important, since most cyber-breaches and data breaches occur as the result of human error, inattention or carelessness.
Posted in Shorter Reads
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