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The UK Government has repeatedly emphasised its aim to remain "proportionate and well-targeted" and as "pro-business and pro-investment as possible" through its operation of the National Security and Investment Act (NSIA) regime.
With the general election now set for 4 July 2024, the main political parties have released their election manifestos. Below we summarise the key pledges of the main political parties relating to employment law and business immigration.
In a further twist of the MUR Shipping BV v RTI Ltd proceedings, the Supreme Court has overturned the Court of Appeal's decision and ruled that a "reasonable endeavours" proviso in a force majeure clause does not require a party to accept non-contractual performance. The judgment has important implications for the drafting and interpretation of force majeure clauses generally – and the impact of sanctions in particular.
Judgment was handed down last week on the substantial directors' duties and wrongful trading claims brought against former directors of various BHS companies[1]. The liquidators of those companies were successful in arguing that the directors were liable for wrongful trading (albeit at the latest date of six possible dates argued) and were also successful in bringing the first ever claim for "misfeasance trading"[2]. Whilst the judgment is very fact specific, it is an interesting analysis of so-called "insolvency-deepening" activity and shareholder value extraction. Moreover, it is a salient reminder to directors of their duties where they are operating in the zone of insolvency.
Find the latest news, views and our analysis of all the key announcements.
A regular briefing for the alternative asset management industry.
We are very proud to continue to be the Contributing Editor of the recently published International Comparative Legal Guide (ICLG) to Derivatives 2024.
What does the new Digital Markets, Competition and Consumers Act mean for private litigation? Whilst the Act shifts the dial forwards in some respects (including by adding clout to the relief available for certain competition law breaches, and by introducing a mechanism for damages to be claimed for breaches of the new digital regulatory regime), there are also some notable omissions.
In Drax Smart Generation Holdco Limited v. Scottish Power Retail Holdings Limited [2024] EWCA Civ 477, the Court of Appeal considered the sufficiency of a notice of claim made under an SPA.
Digital technologies are at the heart of the UK Government's vision for driving economic growth. The new DMCC Act empowers the UK's Digital Markets Unit (DMU), already set up within the CMA, to designate the biggest digital players with 'Strategic Market Status' (SMS) and, for those designated firms to: (1) set ex ante Conduct Requirements i.e. rules on what those firms must and must not do; (2) enforce Pro-Competition Interventions in order to remedy competition problems; and (3) require the reporting of M&A activity before deals are completed.
The European Securities and Markets Authority (ESMA) has published its Final Report on Greenwashing (Final Report).
Welcome to the second edition of the Travers Smith Outsourcing Spotlight. With an election due in July, we look at the likely impact of a Labour Government on outsourcing in the UK.
This update provides a brief summary of some notable recent developments from an international sanctions perspective. This includes the publication of a 'Tri-Seal Compliance Note' by certain government bodies in the US, emphasising the potential applicability of US sanctions to non-US persons and the corresponding risks of non-compliance, the impact of the EU's new "no Russia" law, which requires certain contractual obligations to be satisfied when exporting specific goods from the EU, and the EU's new directive imposing criminal liability on those looking to circumvent its sanctions regime.
What does the new Digital Markets, Competition and Consumers Act 2024 mean for competition law enforcement? Our five key takeaways are below, covering the substantive reforms made to investigations across the UK competition law sphere.
A regular briefing for the alternative asset management industry.
The Government intends pensions dashboards to bring about a fundamental change in the way individuals access information about their pensions, allowing people to see all of their future pension entitlements in one online place.
The Digital Markets, Competition and Consumers Act 2024 (DMCC Act) has received Royal Assent. Among other things, it will make major changes to the UK's consumer protection regime.
The new Digital Markets, Competition and Consumers Act 2024 implements the most extensive changes to the UK competition law (and consumer protection) landscape since the Enterprise Act brought about wholesale change to the merger control regime over 20 years ago, back in 2002.