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Aspiring Lawyers - Interviews & Vacation Schemes
Commercial Awareness Discussion
Commercial News Update - March 2018
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<blockquote data-quote="Coralin96" data-source="post: 271" data-attributes="member: 15"><p>Hey guys - next update <img src="data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///yH5BAEAAAAALAAAAAABAAEAAAIBRAA7" class="smilie smilie--sprite smilie--sprite1" alt=":)" title="Smile :)" loading="lazy" data-shortname=":)" /></p><p></p><p>10/03/2016</p><p></p><p>1. <strong>Cryptocurrencies: </strong>It's been a hard week for Bitcoin which fell by a fifth thanks to regulatory fears and news that trustees of the now-insolvent largest bitcoin exchange in the world were selling large amounts of bitcoin.</p><p>2. <strong>Cryptocurrency regulation: </strong>The chief executive of the European Banking Authority, Andrea Enria, said he was "yet to be convinced" that cryptocurrencies should fall under extensive regulation in a speech yesterday. This was a view he took in 2014 when commenting on the impact to financial innovation. The comments come as the EU has agreed to regulate cryptocurrencies if some of the risks aren't addressed. The US Treasury and the Bank of England has said it should be regulated and it has already been regulated in Australia and Japan. Some banks have taken this approach too, including Nordea Bank which prohibited employees from dealing in cryptocurrencies in January 2018. Lloyds has banned the purchase of cryptocurrencies with credit cards. Interestingly, a number of law firms are accepting payment using cryptocurrencies - I wonder whether that's something will see more of in the future. It's possible that procedures can be used by companies (and law firms) if cryptocurrencies gets more mainstream. That includes things like Know Your Customer procedures e.g. gathering customer information. Also, Know Your Transaction data. We could see this involvement with financial services regulation at law firms.</p><p>3. <strong> US output of oil has reached record levels: </strong>This is a lot faster than expected and could lead to a repeat of falling oil prices which led to the 2014 oil price crash. This comes as Saudi Arabia is preparing to float Saudi Aramco and hedge funds have backed some of the oil producers in anticipation of rising oil prices.</p><p>4. <strong>Mifid II costs: </strong>The Markets in Financial Instruments Directive (Mifid II) required fund managers to pay for research rather than getting it free from third parties. This has caused them to invest millions in the cost of paying for this investment research and its hurting fees and profit margins. </p><p>5. <strong>Facebook v YouTube: </strong>Facebook looks to be increasing its video content by forming a series of music deals - the latest being with Warner Music, whose artists include Ed Sheeran and Bruno Mars. It also has been working on rights to a variety of live sports deals - the latest being Major League Baseball this year. This comes along companies like Netflix and Amazon are looking to increase engagement in the video market. Currently, Youtube is the most popular online place for music.</p></blockquote><p></p>
[QUOTE="Coralin96, post: 271, member: 15"] Hey guys - next update :) 10/03/2016 1. [B]Cryptocurrencies: [/B]It's been a hard week for Bitcoin which fell by a fifth thanks to regulatory fears and news that trustees of the now-insolvent largest bitcoin exchange in the world were selling large amounts of bitcoin. 2. [B]Cryptocurrency regulation: [/B]The chief executive of the European Banking Authority, Andrea Enria, said he was "yet to be convinced" that cryptocurrencies should fall under extensive regulation in a speech yesterday. This was a view he took in 2014 when commenting on the impact to financial innovation. The comments come as the EU has agreed to regulate cryptocurrencies if some of the risks aren't addressed. The US Treasury and the Bank of England has said it should be regulated and it has already been regulated in Australia and Japan. Some banks have taken this approach too, including Nordea Bank which prohibited employees from dealing in cryptocurrencies in January 2018. Lloyds has banned the purchase of cryptocurrencies with credit cards. Interestingly, a number of law firms are accepting payment using cryptocurrencies - I wonder whether that's something will see more of in the future. It's possible that procedures can be used by companies (and law firms) if cryptocurrencies gets more mainstream. That includes things like Know Your Customer procedures e.g. gathering customer information. Also, Know Your Transaction data. We could see this involvement with financial services regulation at law firms. 3. [B] US output of oil has reached record levels: [/B]This is a lot faster than expected and could lead to a repeat of falling oil prices which led to the 2014 oil price crash. This comes as Saudi Arabia is preparing to float Saudi Aramco and hedge funds have backed some of the oil producers in anticipation of rising oil prices. 4. [B]Mifid II costs: [/B]The Markets in Financial Instruments Directive (Mifid II) required fund managers to pay for research rather than getting it free from third parties. This has caused them to invest millions in the cost of paying for this investment research and its hurting fees and profit margins. 5. [B]Facebook v YouTube: [/B]Facebook looks to be increasing its video content by forming a series of music deals - the latest being with Warner Music, whose artists include Ed Sheeran and Bruno Mars. It also has been working on rights to a variety of live sports deals - the latest being Major League Baseball this year. This comes along companies like Netflix and Amazon are looking to increase engagement in the video market. Currently, Youtube is the most popular online place for music. [/QUOTE]
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Commercial News Update - March 2018
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