• At Kemp Little, we are known for our ability to serve the very particular needs of a large but diverse technology client base. Our hands-on industry know-how makes us a good fit with many of the world's biggest technology and digital media businesses, yet means we are equally relevant to companies with a technology bias, in sectors such as professional services, financial services, retail, travel and healthcare.
  • Kemp Little specialises in the technology and digital media sectors and provides a range of legal services that are crucial to fast-moving, innovative businesses.Our blend of sector awareness, technical excellence and responsiveness, means we are regularly ranked as a leading firm by directories such as Legal 500, Chambers and PLC Which Lawyer. Our practice areas cover a wide range of legal issues and advice.
  • Our Commercial Technology team has established itself as one of the strongest in the UK. We are ranked in Legal 500, Chambers & Partners and PLC Which Lawyer, with four of our partners recommended.
  • Our team provides practical and commercial advice founded on years of experience and technical know-how to technology and digital media companies that need to be alert to the rules and regulations of competition law.
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  • At Kemp Little, we advise clients in diverse sectors where technology is fundamental to the ongoing success of their businesses.They include companies that provide technology as a service and businesses where the use of technology is key to their business model, enabling them to bring their product or service to market.
  • We bring our commercial understanding of digital business models, our legal expertise and our reputation for delivering high quality, cost-effective services to this dynamic sector.
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  • We advise at the forefront of the technological intersection between life sciences and healthcare. We advise leading technology and data analytics providers, healthcare institutions as well as manufacturers of medical devices, pharmaceuticals and biotechnological products.
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  • Whether ERP, Linux or Windows; software or infrastructure as a service in the cloud, in a virtualised environment, or as a mobile or service-oriented architecture, we have the experience to resolve legal issues across the spectrum of commercial computer platforms.
  • Our clients trust us to apply our solutions and know-how to help them make the best use of technology in structuring deals, mitigating key risks to their businesses and in achieving their commercial objectives.
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  • Our legal professionals work alongside social media providers and users in relation to the commercial, privacy, data, advertising, intellectual property, employment and corporate issues that arise in this dynamic sector.
  • Our years of working alongside diverse software clients have given us an in-depth understanding of the dynamics of the software marketplace, market practice and alternative negotiating strategies.
  • Working with direct providers of travel services, including aggregators, facilitators and suppliers of transport and technology, our team has developed a unique specialist knowledge of the sector
  • Your life as an entrepreneur is full of daily challenges as you seek to grow your business. One of the key strengths of our firm is that we understand these challenges.
  • Kemp Little is trusted by some of the world’s leading luxury brands and some of the most innovative e-commerce retailers changing the face of the industry.
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  • FlightDeck is our portal designed especially with start-up and emerging technology businesses in mind to help you get your business up and running in the right way. We provide a free pack of all the things no-one tells you and things they don’t give away to get you started.

FCA starts dialogue on distributed ledger technology

The Financial Conduct Authority (“FCA”) yesterday released a discussion paper on distributed ledger technology (“DLT”). The FCA states that it will generally take a ‘technology neutral’ approach to regulating financial services and is interested in considering whether there is anything distinctive about DLT that would require it to take a different approach. This discussion paper is intended to start a dialogue on the future development of DLT.

DLT is a relatively recent advance that has received increasing amounts of industry, media, political and other stakeholder attention in recent years. The most well-known example of DLT is blockchain. DLT combines various existing tools such as shared databases, cryptography and peer-to-peer networking to offer firms the ability to share data efficiently and securely. Technology companies seeking to provide DLT-based solutions have grown sharply in number and size, and regulated firms are increasingly using this technology to provide financial services. 

The FCA notes that DLT has the potential to provide various benefits for regulated markets. Most of these benefits will likely emerge in sectors where multiple participants need to share data and/or processes safely, particularly where firms are still reliant on paper-based records. DLT’s ability to remove the need for certain intermediaries, increase the speed of reconciliation and reduce costs has made it a popular subject of research for both regulators and industry. DLT’s increasing popularity has underlined the growing challenge of managing data safely and efficiently across all sectors. However, the adoption of DLT will take place only in areas where the advantages of increased efficiency are large enough to outweigh the costs of the associated technology transformation.

The potential for increased regulatory oversight of DLT is particularly significant. The FCA recognises that, while DLT is a new technology, some of the products and business models it enables may require consideration of whether regulatory requirements are appropriate. While DLT has great potential to help promote competition through disruptive innovation, this must be balanced against the FCA’s other statutory objectives of consumer protection and market integrity. The paper notes that DLT has the potential to offer digitised assets that can be delivered directly to consumers, legal agreements that can be composed in software and enshrined in cryptographic layers, and secured data provenance for property or identity. 

The FCA states that while specific areas exist where DLT does not fit with its requirements, it can still achieve its desired outcomes. Therefore, the FCA understands the need to consider whether its rules prevent or restrict sensible development that would benefit consumers and hence whether changes may be needed.

Industry participants are invited to respond to the discussion paper by 17 July 2017. The FCA will then review any responses received and decide on its next steps. This might take the form of a Summary of Responses or a Consultation Paper. 

The discussion paper can be found at www.fca.org.uk/publication/discussion/dp17-03.pdf .