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In the fourth episode of the series, Senior Associate Richard Offord talks about the impact of Brexit on goods, following the UK's departure from the Single Market and Customs Union.

At the end of last month BEIS published non-binding guidance for large companies and LLPs on the obligation to make climate-related financial disclosures in their annual accounts. In-scope entities will have to prepare for the new obligations and ensure that their governance structure and financial planning and reporting processes are fit for purpose. 

On 28 February 2022, the EU Platform on Sustainable Finance (the Platform) published its Final Report on a potential Social Taxonomy. This sets out the Platform's proposals for a structure for a social taxonomy under EU sustainability legislation.

The European Commission recently unveiled its long-awaited proposal for a directive on corporate sustainability due diligence, which is designed to tackle human rights and environmental impacts across value chains (the "CSDD").

Travelling. Seamlessly. podcast series

Earlier this week HM Treasury published the outcome of its UK Prospectus Regime Review. As proposed in the July 2021 consultation paper, the government will be replacing the current prospectus regime it inherited from the EU Prospectus Regulation. The main aims of the reform are simplifying regulation in this area; making it more agile and dynamic; facilitating wider participation in the ownership of public companies and improving the quality of information received by investors.

Early on the morning of 24 February 2022, the Russian military invaded Ukraine. The full scope of the Russian military operation continues to remain unclear.

As outlined in our previous briefing note on the Corporate Insolvency and Governance Act 2020, a new restructuring tool was introduced in June 2020 in the form of the Part A1 free-standing moratorium (the "Moratorium"). The Moratorium was introduced with the intention of providing companies in financial distress breathing space to allow them to explore restructuring options whilst being protected from the majority of creditor action, similar to the protection afforded to a company in administration. A feature of the Moratorium is the appointment of an independent monitor.

The UK’s International Data Transfer Agreement (IDTA) and the Addendum to the new EU SCCs (Addendum), together with accompanying transitional provisions, were laid before Parliament 2 February 2022. Unless Parliament objects (which is unlikely), they will come into effect on 21 March 2022.

The Environmental Protection Act 1990 was a landmark piece of legislation for the real estate sector, establishing legal responsibility for contamination and pollution control for land, air and water, and also regulating waste disposal and statutory nuisances. Our understanding of the threat posed by contamination and climate change has increased significantly in the thirty years that followed, and the long-awaited new Environment Act was finally put onto the statute books in 2021. When it is fully operational, what might the new legislation mean for the UK's real estate industry?

In the third episode of the series, Senior Associate and Business Immigration Law Specialist Moji Oyediran takes a look at the changes to business travel now that free movement rules no longer apply between the UK and EU. 

A regular briefing for the alternative asset management industry. 

Early on the morning of 24 February 2022, the Russian military launched a broad military offensive targeting Ukraine. The full scope of the Russian military operation is not immediately clear.

For nearly two years the government has been conducting a review of the UK funds regime (the Review) with the aim of making the UK a more attractive location to set up, manage and administer funds and to support a wider range of more efficient investments better suited to investor needs. This review had already yielded some tangible results, in particular the recent introduction of the Long-Term Asset Fund (LTAF) and the development of the new tax regime for qualifying asset holding companies (QAHCs) which is due to come into force in April.

During the build-up of Russian military forces on the borders of Ukraine over the course of recent months, the UK and other countries have issued firm statements that any further incursion by Russia into Ukraine would result in additional economic sanctions on Russian entities and individuals. Today, following Russia's recognition of the Luhansk and Donetsk regions of Ukraine as independent (and the corresponding movement of Russian forces into these regions), a number of new sanctions and other restrictions have been imposed – with further measures likely to follow depending on Russia's actions over the coming days and weeks.

In a ruling made at a hearing on 18 January 2022 in the case of Cambridgeshire County Council v Bam Nuttall Limited & Ors [2022] EWHC 275 (TCC), Mr Justice Waksman gave guidance on the formulation of the list of issues for disclosure (the "LOID") required under the Disclosure Pilot Scheme (set out in Practice Direction 51U ("PD 51U")). 

Video series

In the third and final episode of the series, Knowledge Counsel Adam Rice and Associate Shani Edwards discuss employment contracts and changing terms.

On 2 December 2021, the Court of Appeal confirmed that: (i) clear wording in an insurance policy could not be overridden by countervailing factors in the factual background; and (ii) a claim could not be estopped where the insurance policy expressly precluded the party claiming estoppel from avoiding liability in the relevant circumstances. The judgment reinforces that, where there is clear and unambiguous contractual wording, the Court will apply it.

In the second episode of the series, Knowledge Counsel Jonathan Rush provides an overview of the UK post-Brexit trade agreements and considers what they mean for UK businesses.