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On 7 October 2022, President Biden issued an Executive Order (EO) that seeks to address the concerns set out in the Schrems II decision about US intelligence agencies’ access to EU individuals’ personal data. The EO is a significant step towards an EU-U.S. adequacy decision (expected in Spring 2023, if approved by member states) but, if granted, will that adequacy decision be sufficiently robust to withstand a likely legal challenge?
In our latest Tax. Simplified. podcast, Tax Senior Associate Siv Devakumar and Associate Lewis Currie consider the recent case law developments on the unallowable purpose rule.
Earlier this year, Mahesh Varia, Partner and Head of Travers Smith's Incentives and Remuneration Group, met Leander A. Dolphin, Managing Partner of Shipman & Goodwin, at Harvard Law School where they were both delegates on the Leadership in Law Firms programme.
The UK's Subsidy Control Bill received Royal Asset on 28 April 2022 , becoming the Subsidy Control Act 2022 (the "Act"). The new regime will come fully into force on 4 January 2023. The Act has been hailed by the UK Government as a major departure from the EU State aid rules.
This update provides a brief overview of some notable events that have occurred in recent weeks, including the UK Government's increasing ability to target activities considered to be problematic from a circumventing Russian sanctions perspective.
A regular briefing for the alternative asset management industry.
The UK Government is proposing greater regulatory oversight of financial services outsourcings involving "Critical Third Parties" (CTPs). If implemented, these changes will result in CTPs – some of which may not regard themselves as part of the finance sector - being regulated directly by financial services supervisory authorities. This would represent a major shift in approach.
In the current macro-economic conditions, deal activity has slowed, in part due to valuation mismatches and difficulties raising third party debt.
Find the latest news, views and our analysis of all the key announcements.
The FCA has published PS22/10, its policy statement on strengthening the financial promotion rules. This sets out feedback to the January 2022 consultation paper, its final rules and final non-handbook Guidance for firms approving financial promotions.
The EU recently revealed its proposal for a new Regulation to combat the use of forced labour in the production of goods. A key aim of this new Regulation is that it will be used alongside other initiatives within both the EU and externally, in order to further eliminate modern day slavery from supply chains.
Surging commodity prices are creating headaches in the tech and automotive sectors, with the cost of key materials such as lithium, cobalt and nickel (key components in electric car batteries) rising following supply chain disruptions associated with Covid and the war in Ukraine.
Welcome to the eighth edition of our quarterly disputes newsletter, which covers key developments in the dispute resolution world over the last three months or so.
The High Court has ruled in favour of a spread betting firm that exercised its sole discretion in closing out a client's trading position during a period of significant market volatility.
Technology & Commercial Transactions partner, James Longster, and senior associate Richard Offord, shine a light on some of the relevant and most pressing developments in the tech sector. This series comprises of 7 episodes, which are available as both videos and podcasts.
Technology & Commercial Transactions Senior Associate, Richard Offord, discusses the 'Great Developer Drought' and the IP, data and confidentiality issues that can arise when hiring software developers overseas.
The Government has published legislation giving it wide-ranging powers to revoke or reform retained EU law. Among other things, it includes a proposal for the majority of retained EU legislation to expire at the end of 2023, unless expressly preserved in some form.
On 27 September 2022, the English High Court granted summary judgment and declaratory relief in favour of the bank Dexia Crediop SpA ("Dexia") on a number of issues arising in its claim against the Italian province of Pesaro e Urbino ("Pesaro"). In bringing its claim, Dexia has sought declarations regarding the validity and enforceability of interest rate swaps executed between the parties in 2003 and 2005.
The Arbitration Act 1996 (the "Act") provides a framework for arbitration proceedings seated in England and Wales or Northern Ireland. It has played a key role in cementing London's status as a leading seat for commercial arbitrations.
A regular briefing for the alternative asset management industry.