Our knowledge resources reflect the breadth and depth of our expertise, our insight into the issues which matter to your business, and our understanding of the markets in which you operate.
At what point does CCTV go from being an acceptable security measure to an infringement of others' privacy – or even unlawful harassment? A recent case provides useful guidance on the position and highlights the key issues that businesses need to consider.
Certain buy side market participants, including pension schemes and asset managers, will be required under EMIR/UK EMIR to exchange initial margin on most of their uncleared OTC derivatives transactions from 1 September 2022. Your pension scheme will be affected by this upcoming regulatory requirement if it uses uncleared OTC derivatives with an aggregate notional amount above EUR8bn.
The High Court has dismissed a challenge to Caffe Nero's company voluntary arrangement (CVA) in Young v Nero Holdings Limited. The Applicant in the proceedings, Mr Young, was a landlord of premises let to the First Respondent, Nero Holdings Limited (the Company) and challenged the Company's CVA under s 6(1)(a) and (b) of the Insolvency Act 1986 (the Act). Mr Young alleged that the Company's CVA was unfairly prejudicial to the rights of creditors and that the procedure and circumstances around the approval of the CVA were materially irregular.
On 18 October 2021, with just under two weeks to go before the UK hosts COP26, the UN Climate Change Conference 2021 in Glasgow, HM Treasury, the Department for Work & Pensions (DWP) and the Department for Business, Energy & Industrial Strategy (BEIS) published a joint paper entitled Greening Finance: A Roadmap to Sustainable Investing (the Roadmap).
A regular briefing for the alternative asset management industry.
On 12 October 2021 the English High Court ruled that interest rate swaps executed between Deutsche Bank AG London ("Deutsche Bank") and the Italian municipality Comune di Busto Arsizio ("Busto") in mid-2007 were valid and binding, obliging Busto to maintain its payments to the bank up to the conclusion of the swaps in 2031.
Welcome to the third in our series of podcasts focusing on international employment law.
The last few months have seen several significant developments in relation to tax. Whilst perhaps the most headlines were generated by the OECD’s announcement that agreement has been reached on the introduction of important changes to global corporate tax rules, there have been several noteworthy developments from a domestic tax perspective, including the provision by the UK government of more details of the new tax on residential property developers and the new tax privileged regime for asset holding companies, both of which are due to come into force next April.
A recent judgment of the Court of Justice of the European Union (CJEU) has significant consequences for software providers which conduct sales of software to their customers through agents, both in the EU and the UK. It also highlights a wider debate around whether software should be treated as goods or services and why this matters.
Travers Smith LLP is thrilled to announce that its Fintech, Market Infrastructure & Payments team won the Moving the Market Forward Award at the 2021 Financial Times Innovative Lawyer Awards Europe. Additionally, the firm has been ranked as the 12th most innovative law firm in Europe in the FT's Innovative Lawyers Europe report.
At over 1200 pages, the Trade and Cooperation Agreement (TCA) signed by the UK and EU in December 2020 does not make for an easy read. This guide breaks it down into the key topics of interest to business. Alongside our commentary on each topic, you will also find links to the relevant provisions of the TCA. As our own analysis of the deal progresses, we will be adding further commentary, so please check back in for updates.
We have now passed the end of the third quarter of 2021, the date set by the Sterling RFR Working Group for the completion of the active transition of financial contracts away from LIBOR. Our briefing in June outlined the roadmap to transition and the progress being made in the cash and derivatives markets.
On 8 October 2021 the OECD updated its statement setting out the framework for international tax reform. The two-pillar plan will require the UK and other OECD members to make major changes to their domestic tax law over the next couple of years.
We have recently updated our cross-practice area guide to the UK-EU Trade and Cooperation Agreement (TCA), which breaks it down into key topics of interest to business. Our commentary has been fully updated to reflect developments such as the EU's recent data adequacy ruling regarding the UK.
Tax has been very much in the headlines recently. At a domestic level, we even have two new taxes to look forward to next year (being the health and social care levy (see our briefing) and residential property developer tax (RPDT)), whilst, at international level, agreement has been reached on most of the key features of significant two-pillar reform programme for global corporate tax rules (BEPS 2.0) (see our briefing).
Travers Smith LLP has advised long-standing client Foster + Partners on its strategic partnership with Hennick & Company (HennickCo).
Travers Smith LLP has advised American investment firm Adventurous Journeys Capital Partners (AJ Capital Partners) on its acquisition of the historic Slieve Donard Hotel Resort & Spa, which adjoins the world famous Royal County Down Golf Club.
A regular briefing for the alternative asset management industry.
The Department for Digital, Culture, Media & Sport (DCMS) recently launched a consultation on reform of UK data protection laws, with the twin objectives of strengthening public trust in the use of data, and helping to drive economic growth and innovation. The consultation builds on the Government's National Data Strategy, published last year which set out plans to build a world leading data economy that works for everyone. 'Unlocking the power of data' is also one of the Government's top 10 tech priorities, and the Government's recently published National AI Strategy also highlights the importance of this consultation and the role of data protection in wider AI governance.
The International Organization of Securities Commissions (IOSCO) and the Committee on Payments and Market Infrastructures (CPMI) have issued a consultative report on the application of the Principles for Financial Market Infrastructures (PFMI) to certain stablecoin arrangements (SAs) (the Report).