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Travers Smith LLP has advised long-standing client, the Access Group, and its management team on the further investment in the Access Group (at an associated enterprise value of £9.2bn) by its existing shareholders, TA Associates and Hg, and new minority shareholder GIC, a global institutional investor.
On 31 May 2022, the European Securities and Markets Authority (ESMA) published a supervisory briefing (the Supervisory Briefing) addressed to EU national competent authorities (regulators) to promote "common supervisory practices" on the EU Sustainable Finance Disclosure Regulation (SFDR) and other pieces of EU legislation concerning financial sustainability. This was closely followed on 2 June 2022 by a publication of the European Supervisory Authorities – one of which is ESMA - (ESAs) which sets out clarifications (the ESA Clarifications) on the draft regulatory technical standards (RTS) under SFDR.
On 15 March 2022, the UK's new Economic Crime (Transparency and Enforcement) Act (the "ECA") received Royal Assent. The legislation contained a number of important provisions, including the introduction of a new 'Register of Overseas Entities' and reforms to unexplained wealth orders.
On 7 June 2022, HM Treasury issued its Response (Response) to its consultation in July 2021 on a Senior Managers & Certification Regime (SMCR) for financial market infrastructures (FMIs).
Travers Smith LLP has advised longstanding client Graphite Capital and management shareholders on the sale of Random42, a leading provider of scientific animation and digital media services, to The Lockwood Group, a portfolio company of Ares Management.
On 26 May, the FCA published a discussion paper setting out its response to feedback received regarding the structure of the UK listing regime. The feedback was in response to the FCA's Primary Markets Effectiveness Review.
Welcome to the seventh edition of our quarterly disputes newsletter, which covers key developments in the dispute resolution world over the last three months or so.
The ICO's recent fine of over £7.5m issued against Clearview AI Inc (Clearview) for using images of UK citizens scraped from the internet as part of Clearview's global online database is one of the largest that the ICO has issued to date. But it is considerably less than the £17m fine announced by the ICO in its provisional decision in November 2021.
Travers Smith LLP has advised Nuffield Health on a new five-year partnership with The Football Association (The FA) to become the football governing body's 'Official Health and Wellbeing Partner'.
Glencore has indicated that it will plead guilty to seven counts of bribery in connection with its oil operations in Cameroon, Equatorial Guinea, Ivory Coast, Nigeria, and South Sudan. The Serious Fraud Office opened its investigation into Glencore's activities in 2019 and alleges that the commodities giant approved the payment of over $25m in bribes for preferential access to oil.
Welcome to our series of podcasts focusing on international employment law.
On 25 May 2022, the European Commission (Commission) issued its response to the European Supervisory Authorities' (ESAs) questions on the interpretation of the Sustainable Finance Disclosure Regulation (SFDR) and the Taxonomy Regulation (Taxonomy Regulation) of 13 May 2022.
Travers Smith LLP is delighted to announce the winners of its 2021/22 CSR Art Awards. Set up in 2015, the firm's CSR Art Programme supports graduate artists from the University of Westminster and the Royal College of Art (RCA), with the transition from student life to professional practice.
The Queen's speech delivered on 10 May 2022 announced the intention of strengthening the protection and support for victims of human trafficking and modern slavery as well as increasing the accountability of organisations in driving out modern slavery from their supply chains through the implementation of a Modern Slavery Bill (the "MSA Bill").
A regular briefing for the alternative asset management industry.
The European Parliament has issued its draft report (Report) on the European Commission's proposals to amend the existing Alternative Investment Fund Managers Directive (AIFMD II). The Report forms part of the legislative process and includes the European Parliament's suggested amendments to the draft directive issued by the European Commission in November 2021. The draft directive proposed a number of changes to the Alternative Investment Fund Managers Directive, largely in respect of delegation, loan origination, liquidity risk management, data reporting and depositaries and it is those areas which are the main focus of the Report.
INvolve, a global consultancy championing diversity and inclusion in business, has unveiled the Empower Role Model Lists 2022.
Travers Smith LLP has advised S4 Capital plc on the merger between TheoremOne and Media.Monks, which significantly expands the capabilities of its Technology Services practice.
A party that is not satisfied with an award made by an arbitration tribunal may, in certain circumstances, seek to challenge it before the courts. The Arbitration Act 1996 ("the Act"), which applies to arbitrations which have their seat in England and Wales or Northern Ireland, provides several such avenues for review by the courts.