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World Report - UK & Ireland

JUNE 2012

new digital copyright licence enables law firms to copy from e-books, online journals and

websites a new digital copyright licence has been introduced that enables law firms to copy and reproduce from a range of digital material.

the new licence, introduced by the copyright Licensing agency (cLa), gives licensed firms the permission to copy from thousands of e-books, online journals and free-to- view websites.

Fast Legal advisory Group (FLaG) to lead debate on the latest developments in IP

Experts gather to discuss IP law at event on 13th June 2012, at Latham & Watkins LLP, London.

FLAG, the Federation Against Software Theft’s (FAST) Legal Advisory Group, has organised an event at the offices of global law firm Latham & Watkins LLP in London on 13th June 2012 to receive information and discuss key developments in investigating Internet crime over the years plus the rise to prominence of the web site blocking powers in the copyright legislation.

The event will give the software legal community an opportunity to explore insights on topical issues, allowing open forum discussions after presentations given by experts. Speakers include

Richard Cox, CIO at The Spamhaus Project, Dr Jeremy Philips, widely respected IP Blogger, academic and editor of the Journal of Intellectual Property Law & Practice, as well as a leading lawyer who represents music industry clients, Simon Baggs of Wiggin LLP.

Julian Heathcote Hobbins (pictured), General Counsel, FAST, comments: “Our FLAG meetings are by reputation known as a focal point for members to receive the inside track and provide valuable insights into the fast-evolving landscape for software IP. This event presents an excellent opportunity for interested parties to air their opinions and share expertise about current issues on IP

rights and the niceties of enforcement.

“Discussions will focus on what works and what does not in fighting internet crime, the risk of driving it underground, post the ORACLE case, the extent of copyright and the question of functionality, as well as whether the software industry should follow the music industry in using S97A powers to force ISPs to block web sites.”

FLAG, established shortly after FAST in 1984 where lawyers were pivotal, consists of representatives from many of the UK’s leading legal firms with

Intellectual Property

practices. FLAG meets several times a year to receive presentations on pertinent topics and to review legal developments in the software industry.

Dawn Osborne, Partner at Palmer Biggs Legal and Chair of FLAG at the meeting, added: “Copyright is a hot topic, but the FAST interest is to improve the mechanisms which allow accessible enforcement remedies at a sensible cost with minimal complication. Otherwise remedies are merely academic and of little use. On the wider front this FLAG event will be a forum in which present-day issues can be discussed and knowledge shared.”

the licence includes the permission needed to share digital material with colleagues, associates and clients in relation to a specific case and store digital copies on intranets.

Licensed firms will also benefit from blanket protection against vicarious liability which arises from copyright infringement in the workplace.

Paul Maillardet, Business development Manager, said: ‘We have already received considerable interest in the new licence, from large international corporations, to smaller firms. In a single transaction, the new law licence gives law professionals the permission to copy and reproduce content from law reports, journals, books, digital publications and websites and we expect demand will be high’.

UK financial services firms say that FSa’s 'replacement business and centralised investment propositions' guidance has been unclear

In a snapshot survey examining industry reaction to the FSA Guidance Consultation on Replacement Business and Centralised Investment Propositions,

changes recommended to clients were “in the best interests of the customer”.


compliance consultancy The Consulting Consortium has revealed that 47% of respondents felt thatthe FSA had not clearly articulated requirements

from the

outset. An additional 47% of respondents felt that the requirements had changed from those initially proposed on 4 April 2012.

Over half of respondents were “not sure” or did not think that their firm had appreciated the impact of the FSA guidance - 33% believing that their firm had actually underestimated the impact. And yet 80% were confident that they would be able to demonstrate that any

Ian Stott, ClientServices Director at The Consulting Con- sortium said:“The results of our research suggest a worrying disconnect between businesses’ understanding of the FSA guidelines and how these are being interpreted. About 40% believe the advice is clear, but many have not interpreted the guidance correctly and they now have to backtrack, which is keeping us busy. The other 60% aren’t clear about what it is they need to be doing”.

53% thought that the guidance relating to Replacement Business was unclear, and the requirements “vague”- many suggesting that the ability to demonstrate

that changes were being made in the interest of the customer was ‘dependent upon the quality of client files’.

Ian Stott commented: “While problem cases are likely in any review, taking the step to conduct, in advance, a robust review of what the firm has done in the past may be the most effective way to deal with this new view from the FSA.”

With regards to Centralised Investment Propositions (such as model portfolios or outsourcing to DFMs) 54% of respondents had not implemented a CIP. Of those who had, 40% agreed that this was as a measure to comply with RDR requirements.

“There is a lack of clarity regarding the use of

Centralised Investment Propositions. 40% of respondents, who have implemented one, say that this is in order to comply with RDR. Recent press reports suggest that the FSA is going to take a close look at these, and there will be a need for DFMs as well as advisers to have knowledge of the clients’ risk profiles and so on,” Ian Stott continued.

“This Guidance Consultation paper contains potentially some of the most devastating guidance we have seen in the area of business conduct. The truth is that most firms will need to review what they are doing or have done, perhaps in haste in preparation for RDR, to check that their business models conform to the views expressed in this Guidance Consultation.”

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