<p>Filter Knowledge</p>

On 16 April 2019, the European Parliament adopted a new package of measures which will amend the existing regimes governing the cross-border distribution of collective investment funds in the EU: a Directive (CBD Directive) will amend the existing regimes for cross-border marketing of alternative investment funds (AIFs) and undertakings for collective investment in transferable securities (UCITS); and a
Regulation (CBD Regulation) will introduce new standardised requirements for cross-border fund distribution in the EU.

A significant re-think is underway of UK scrutiny of mergers on grounds of national security in the context of heightened sensitivity around foreign involvement in key infrastructure and assets. This briefing summarises the current position, looks at what these changes are likely to mean and whether they represent a move towards a more protectionist approach.

This briefing outlines the key practical points to bear in mind when your business is entering into a contract as a supplier of goods and/or services with another business. It also includes a list of "Do's and Don'ts".

On 15 April 2019, H.M. Treasury published a consultation paper seeking views on the transposition of the Fifth Money Laundering Directive (MLD 5) in the UK.

Key employment and business immigration developments for employers

The new Regulation on prudential requirements for MiFID investment firms (IFR) and the accompanying Directive (IFD) have now been passed by the European Parliament and, subject to adoption by the European Council (which is expected shortly), will become law.

The government has published draft regulations (the Companies (Directors' Remuneration Policy and Directors' Remuneration Report) Regulations 2019) which will, if implemented, make changes to the directors' remuneration regime for quoted companies in order to comply with the new EU Shareholder Rights Directive ("SRDII").

Any company that operated an employee share incentive arrangement (whether tax-advantaged or not) in the 2018/2019 tax year must file an online return with HM Revenue & Customs (HMRC) by 6 July 2019 to avoid penalties. An initial penalty of £100 will be due if a return is just one day late.

Brexit will have an impact on UK merger control and competition law – but it's not as big as you might think, at least in the short term. Here's what you need to know, as well as an update on likely timings.

In July 2018 we circulated a client briefing note outlining the European Parliament's approval of a revised proposal to amend EMIR (also known as "EMIR 2.1", which can be found here). This briefing note outlines a development that has occurred in respect of EMIR 2.1.

This is the second of recent briefing notes we have produced in respect of the speciality finance sector, in which funders lend into financial institutions which themselves makes loans available to companies, partnerships, sole traders and individual consumers ("Customer Loans"). 

This briefing note is informed by analysis of the transactions on which we advised during 2018, together with other publicly reported transactions and market data.

Is the UK's anti-bribery regime about to be put back in the spotlight? A House of Lords Select Committee has published its long-awaited report on the UK Bribery Act 2010.

Could Brexit allow parties to avoid their contractual obligations? The outcome of the recent dispute between the European Medicines Agency and Canary Wharf suggests that the courts may be reluctant to accept such arguments.

Key employment and business immigration developments for employers

In 2014, the European Union adopted a package of restrictive measures targeting sectoral cooperation and exchanges with the Russian Federation. These controls focus on certain sectors of the Russian economy, initially those specifically linked to Russia's involvement in Eastern Ukraine (the "Sectoral Sanctions"). If the UK leaves the EU with no deal in place, the scope of the Sectoral Sanctions will encompass certain UK entities connected to the 11 in-scope Russian entities.