• JD Supra United Kingdom

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

Latest documents

  • COVID-19 relief for UK government suppliers

    On 20 March, the Cabinet Office in the UK issued a new Procurement Policy Note: Supplier relief due to COVID-19. The policy's stated aim is to support government suppliers through the COVID19 outbreak, so as to protect their business viability, employees and supply chains and to enable them to resume normal service delivery once the outbreak is over. The note applies to all contracting authorities, including central government departments, local authorities, NHS bodies and the wider public sector and covers goods, services and works contracts. 
 
 Please see full Publication below for more information.

  • COVID-19: The United Kingdom’s Response to COVID-19: A Quick Guide for Global Investment Managers

    The recent outbreak of the new coronavirus (“COVID-19”) has triggered a blizzard of actions from governments and regulators around the world. We recognize that it is very difficult to keep track of it all, and here, we offer a way into some of the key developments being discussed in the UK market that we think will be of interest to global investment managers.

  • COVID-19 Update: Restrictions on Short Selling in the UK and European Union

    Background on the Short Selling Regulation -
 
 European Union (“EU”) national regulators have regulated the short selling of shares and certain aspects of credit default swaps (“CDS”) since 1 November 2012, under the EU Short Selling Regulation (“SSR”). The SSR applies to any person undertaking short selling of shares, sovereign debt, sovereign CDS and related instruments that are admitted to trading or traded on an EU trading venue.

  • FCA, FRC, PRC and ESMA announce measures to alleviate impact on listed issuers and their auditors in response to COVID-19

    The Financial Conduct Authority (FCA), Financial Reporting Council (FRC), Prudential Regulation Authority (PRA) and the European Securities and Markets Authority (ESMA) have announced a series of actions to ensure information continues to flow to investors and support the continued functioning of the UK’s and Europe's capital markets. The FCA, FRC and PRA strongly encourage investors, lenders and other users of financial statements to take into account the unique set of circumstances arising from COVID-19 which might result in uncertainty in companies’ financial positions, potential delays in the provision of financial information, the need for auditors to undertake additional work to support their audit opinions and the increased use of modified audit opinions, including qualifications arising from scope limitations. 
 
 Please see full Publication below for more information.

  • HMRC Eases UK Stamp Duty Procedure During COVID-19 Measures

    HM Revenue & Customs has released guidance setting out temporary changes to its stamping procedure, which will apply for the duration of the coronavirus (COVID-19) measures in the United Kingdom.

  • COVID-19: UK Coronavirus Act 2020 - Implications for the Construction Industry

    The 359-page emergency Coronavirus Bill received royal assent on 25 March 2020. This newly passed Coronavirus Act 2020 (the “Act”) contains extensive powers and additional measures to equip the UK government and other authorities to better respond to the COVID-19 outbreak in the UK.

  • COVID-19: UK Tax Residence for Companies and Individuals

    In these testing times the ramifications of COVID-19 continue to be felt in every area of personal and corporate life. With lockdowns announced around the world, including in the UK on 23 March 2020, travel has been severely curtailed and business practices are having to change accordingly. Below we discuss what this means for determining the tax residency of companies and individuals.

  • U.K.Government Announces Plan To Fly Back British Nationals Stranded Abroad During Coronavirus Pandemic

    The United Kingdom (U.K.) Government has announced a new partnership with airlines to return to the U.K. tourists and other British nationals who are stranded overseas due to the coronavirus pandemic.
 
 The plan consists of two parts. The first part is for people overseas to take any commercial flights that are still available. Where commercial flights are no longer available, a special programme of chartered flights using a dedicated £75 million government fund will be set up...

  • UK Government Announcement Regarding Changes To The UK’s Insolvency Regime ?Prompted By COVID-19?

    On 28 March 2020 the UK government (the “Government”), following the lead of Australia ?and Germany, announced plans to introduce a temporary relaxation of the existing wrongful ?trading regime for company directors. Specifically, the Government has communicated its intention to introduce new legislation at ?the “earliest opportunity” to suspend wrongful trading laws for a period of 3 months (with the ?ability to extend this period if deemed necessary), to allow directors to continue to pay staff and ?suppliers without risk of personal liability should their business later become insolvent...

  • U.K. Employment Update: Statutory Changes Announced In Response To Coronavirus

    The coronavirus pandemic has led to unprecedented changes and challenges for employers. In response, the U.K. Government has announced various measures to assist U.K. employers, who must now navigate a new array of U.K. employment regulations...

Featured documents

  • FSA Fines Former CEO for Market Abuse

    On July 6, the UK Financial Services Authority (FSA) announced that it had fined Henry Cameron, CEO of Sibir, a former Alternative Investment Market (AIM)-quoted energy company, £350,000 (approximately $530,000) for making misleading announcements to the market regarding payments from Sibir to its...

  • Court of Appeal Decides LBIE Client Money Application

    On August 2, the English Court of Appeal handed down its judgment on the client money directions application made in the Administration of Lehman Brothers International (Europe) (LBIE). The Court of Appeal overturned Mr. Justice Briggs’ High Court decision in part, holding unanimously that...
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  • Structured Thoughts - Volume 1, Issue 18 - December 2010

    As part of the long, ongoing process of seeking to promote a more consistent approach in the regulation of structured retail financial products, on 26 November 2010, the EU Commission published its consultation paper (the “Consultation Paper”) on legislative steps for packaged retail investment...

  • UK Public Procurement Law Digest: The 2011 Procurement Law Agenda

    The first 9 months of the new UK coalition government were marked, in public procurement terms, by the early freeze imposed by the Cabinet Office on all new central government procurements and the wide-ranging review of existing projects and commercial terms with the largest suppliers to government....

  • FSA Product Intervention

    As the UK’s Financial Services Authority (FSA) itself would agree, its January 2011 Discussion Paper on product intervention signals a sea-change in the way retail financial products will be regulated in the UK. The proposed new approach outlined in the Discussion Paper involves the FSA (and, in...

  • Review of UK Covered Bond Framework

    On 6 April 2011, the UK Financial Services Authority (“FSA”) and HM Treasury (“HMT”) published a consultation paper setting out a joint review of the UK Regulated Covered Bonds Regulations (the “UK Regulations”) with the stated aim of ensuring the UK Regulations continue to support the UK covered...

  • London Digest - Spring 2011

    In This Issue:
 
 Main Articles:
 
 Case Law Update: Misselling Financial Products
 
 Balance Sheet Insolvency: The Point of No Return
 
 Commercial Contracts: The Uncertainty of Construction
 
 Supreme Court Abolishes Expert Witnesses’ Immunity from Suit &#13...

  • The UK Bribery Act: Be Prepared

    The long-awaited UK Bribery Act 2010 (the “Act”) is now in force. The Act drastically changes the anti-corruption regime for organisations and for directors. It creates a simplified regime to tackle anti-corruption that applies to all organisations based in the UK and overseas entities that carry...

  • Deregulation of Public Offering Prospectus Requirements

    The Prospectus Regulations 2011/1668 (the Regulations) came into force in the United Kingdom (the UK) on 31 July 2011, allowing companies—particularly smaller ones—to raise equity finance more cost-efficiently. The Regulations will achieve this by increasing two key thresholds, below which it is...

  • Homework for the New School Year – Updating Your Employment Documentation

    As the new school year gets under way, one task which UK human resources professionals may wish to set themselves by way of homework is to update their employment contracts and policies. This is a process which it is advisable to conduct on a reasonably regular basis to ensure that an employer’s...