• JD Supra United Kingdom

Publisher:
JD Supra
Publication date:
2019-04-29

Latest documents

  • Producing Internal Documents to the UK Competition and Markets Authority: Better Get It Right the First Time

    As reported in an earlier alert, the UK Competition and Markets Authority (CMA) has been stepping up enforcement action against breaches of its procedural rules on merger control. This alert highlights the CMA's recent enforcement action in relation to delivery of the merging parties' internal documents to the CMA.

  • Bank of England and UK Conduct Regulator Announce Proposals for Financial Sector Data Reforms

    The Bank of England and U.K. Financial Conduct Authority have published a series of proposals setting out their plans to enhance their data and analytics capabilities. The proposals include a revised FCA data strategy, a BoE discussion paper on transforming data collection and a viability report published by the FCA and BoE, together with seven regulated firms, on the possibilities of digital regulatory reporting. The FCA and BoE depend on data to conduct their supervisory responsibilities. Both wish to capitalize on recent technological developments to enhance the effectiveness of their data collection processes as well as alleviate the burden on reporting firms.

  • Equity capital markets applying the lessons of 2019 to navigate the challenges of 2020

    2019 was a challenging year for equity capital markets. Proceeds from IPOs fell by over 25% in the UK, and by more than 30% across Europe. A number of political and economic factors, which contributed to pricing uncertainty and market volatility, undoubtedly contributed to this reduction in activity.

  • Brexit: Prospects for EU-UK Trade Negotiations

    Now that the UK Government has a majority in Parliament to pass the EU (Withdrawal) Act before its invocation of Article 50 of the Treaty of European Union expires on 31 January 2020, the threat of the UK leaving the EU without a new trade agreement (a “no deal” outcome) is no longer imminent.

  • UK Conduct Authority Publishes Findings of Review of Risk Modelling and Other Portfolio Management Tools in the Asset Management Sector

    The U.K. Financial Conduct Authority has published a report on its review of how firms in the asset management sector selected and used risk modelling and other portfolio management tools. The review was undertaken to assess how firms identify and manage the risks as well as firms' ability to respond to system failures or service interruptions.

  • 2019 Half-year in review: M&A legal and market developments

    We set out in the attached Newsletter a number of interesting English court decisions and market developments which have taken place in the second half of 2019 and their impact on M&A transactions. This review looks at these developments and gives practical guidance on their implications. The Newsletter summarises each court decision or market development and highlights key lessons from each case, and you can click where indicated to access more detailed analysis.
 
 Please see full publication below for more information.

  • Digital twins and the Internet of Things (IoT): utilising data

    Many assets create vast amounts of useful data simply by operating. Harnessing and utilising this data could benefit businesses ranging from asset-producers through to end-users.

  • Conservative Party Win Paves Way for Reforms to UK National Security Reviews

    The Conservative Party’s conclusive win in the U.K.’s recent general election paves the way for long-anticipated and decisive reforms to the country’s national security screening regime. The government first outlined its proposals for a wide-ranging national security screening regime for inward investments in a white paper published in mid-2018. With Brexit leaving little political bandwidth in the U.K. and the prior government’s lack of a majority in Parliament making the successful passage of legislation very uncertain, those reforms have not yet been enacted. However, now armed with an 80-seat majority, the government is well-positioned to ensure the successful implementation of its legislative agenda, and the proposed reforms are likely to be implemented in the near future.

  • Open Finance: The Next Frontier in Fintech?

    Call for input: Industry needs to engage as the FCA moves forward on its transformative vision for open finance. Imagine a world in which you could access your bank accounts, credit cards, mortgage, pensions, savings accounts and ISAs, brokerage account, home and car insurance, life insurance, and other financial products on one user interface or app, even if each of those products is held with a different provider.

  • Latest on Abolition of Entrepreneurs’ Relief

    There has been much talk recently about “review and reform” (or abolition) of entrepreneurs’ relief. This seems to have moved a step closer this week with Boris Johnson stating that the Treasury are “fulminating” against it on the basis that it made “staggeringly rich” people “even more staggeringly rich”. The debate about this was kicked off last November with an IFS study highlighting that the benefits of the relief were concentrated among the wealthy and Edward Troup, former head of HMRC, saying that it was costing £2bn a year in tax while providing “no incentive for real entrepreneurship”.

Featured documents

  • In Brief – UK Employment and HR Newsletter - Vol. 3, No. 2 Summer 2010

    In this summer issue of our employment and HR newsletter, we have reviewed recent case law. We summarise the key facts in bite size chunks and highlight how and why the cases are of interest to HR and those with responsibility for employment issues in the workplace.
 
 Please see full...

  • Good News, Bad News. The SAS Institute v. World Programming case and its effect on software copyright law

    Sometimes, it’s not what happens that’s important, but what happens next. A case in the English High Court has confirmed what the software industry has known for some time: that it is not copyright infringement in the UK merely to copy the functionality of a computer program. But the real...

  • Amendments to the Prospectus Directive

    On 11 December 2010, the final text of the Directive amending the Prospectus Directive and the Transparency Directive (the “Amending Directive”) was published in the Official Journal of the European Union (“EU”). The Amending Directive will come into force on 31 December 2010, and member states...

  • FSA Fines JJB Sports PLC for Disclosure Failings

    On January 25, the UK Financial Services Authority (FSA) issued a Final Notice to JJB Sports plc that detailed a fine of £455,000 (approximately $725,000). The FSA found that JJB had failed to disclose information to the market about the true cost of two acquisitions. These failings had led to a...

  • FSA and FRC Publish Feedback on the Role of Auditors

    On March 10, the UK Financial Services Authority (FSA) and the Financial Reporting Council (FRC) published a joint feedback statement, Enhancing the auditor's contribution to prudential regulation FS11/1, summarizing the responses to their June 2010 joint discussion paper, DP10/3, similarly titled.&...

  • Balance Sheet Insolvency: The Point of No Return

    The decision of the Court of Appeal in BNY Corporate Trustee Services Limited v Eurosail-UK 2007-3BL plc and others [2010] EWCA Civ 2007, is good news for distressed companies in need of some breathing space. In this case, the Court of Appeal held that the balance sheet test for insolvency is only...

  • Cookies Update: Consent Now Needed

    Introduction
 
 New rules on cookies came into force on 26 May 2011. Consent is now needed in relation to most cookies placed on a user’s PC (or mobile device) by UK websites. Similar rules are coming into force throughout Europe.
 
 Prior to this change, websites only had to tell...

  • 2010 Bribery Act: Commercial Applicability

    The Bribery Act 2010 (Act), heralded as the toughest anti-corruption legislation in the world, comes into force today in the United Kingdom. The Act is designed to address global bribery and to modernise the UK’s outdated, piecemeal anti-bribery legislation. The Act will be enforced against firms...

  • About Face: Lancôme's Airbrushed Makeup Ads Banned in the UK

    Makeup ads in the UK for products by L'Oreal have been banned after the U.K.'s Advertising Standards Authority ("ASA") deemed the airbrushing used in postproduction to be misleading to consumers.

 

 The ASA issued the ban after British Liberal Democrat politician, Jo...

  • FSA Obtains High Court Injunction Against Market Manipulation

    On September 1, the UK Financial Services Authority (FSA) announced that it had obtained an interim High Court injunction preventing a number of companies and individuals from market manipulating in respect of certain UK-listed shares.

 

 The FSA’s injunction was against Da Vinci...