The impact of the COVID-19 pandemic continues to be felt across the global business community.
Reform of the UK listing, prospectus and secondary fundraising regimes is at an advanced stage, with the FCA's new listing rules having come into effect on 29 July 2024. The new rules represent a radical overhaul of the previous listing regime.
On 5 April 2023, the Commission launched a consultation on its draft of the long-awaited technical screening criteria ("TSC") for the four remaining Taxonomy objectives, sometimes known as "TAXO4"1. The TAXO4 TSC were initially intended to be in place by 1 January 2023, a year after the TSC for the first two environmental objectives, but have been significantly delayed. Therefore, the draft's publication finally provides a fuller picture of the Taxonomy and gives those with ambition to align to the remaining environmental objectives an idea of the scale of that task.
Read and listen to "What’s Happening in Pensions", our regular news briefing covering topical pensions law developments.
In its recent decision in McClean & Ors v Thornhill, the Court of Appeal found that a leading tax silk appointed to advise the promoter of three tax avoidance schemes did not owe a duty of care to investors, notwithstanding that the silk had consented to his advice being shared with the investors. The decision provides useful guidance as to the circumstances in which professionals, particularly legal professionals, may be found to have adopted a duty of care to prospective claimants by whom they have not been directly instructed.
In our new Talking. Secondaries. series, we will seek to demystify the secondaries and synthetic secondaries markets and provide insights into the variety of tools available to GPs when looking to provide liquidity to their limited partners and their portfolios.
Increased scrutiny of private equity investment is firmly on the radar of US antitrust enforcers. Both the Federal Trade Commission (FTC) and U.S.
Since April 2022, the UK has had a new tax efficient vehicle – the Qualifying Asset Holding Company (QAHC). This is a key change in the UK’s tax strategy for asset management, part of a wide-ranging review into the UK funds landscape being carried out by the government, designed to enhance the UK’s attractiveness to the sector. The QAHC allows the UK to compete with vehicles on offer in rival European fund centres, in particular Luxembourg and Ireland.
Travers Smith Senior Consultant, Simon Witney, has contributed to a report by the World Economic Forum – read the full White Paper 'Private Market Impact Investing: A Turning Point'.
At the start of the 2023/24 financial year, we focus on 5 focal points of interest to the real estate sector: regulatory change, updates to real estate taxation, some proposed changes to the planning regime, ongoing reform to construction law and some caselaw reports from real estate disputes.
There has (not surprisingly) been some confusion about what has happened to the pensions lifetime allowance from 6 April 2023, following the surprise Spring Budget announcement about its abolition. In the following Q&As, we consider the immediate implications of the changes.
The highly anticipated Digital Markets, Competition and Consumers (DMCC) Bill was introduced to Parliament on 25 April 2023. Described by Sarah Cardell, CEO of the UK Competition and Markets Authority (CMA) as a "flagship bill" with the "potential to be a watershed moment", the Bill sets out far-reaching changes to the competition and consumer law regimes here in the UK, as well as a new ex ante regime for scrutiny of Big Tech.
The Digital Markets, Competition and Consumer Bill has finally been put before the UK Parliament and is likely to become law in 2024.
In this week's issue of Alternative Insights, we are looking at the impact of the EU's new foreign subsidies regulation on private equity deals.
In November 2022, HM Treasury (HMT) published its response to the Solvency II consultation, setting out its final package for reforming the prudential regulation of the UK insurance sector.
As part of the "Tax Administration and Maintenance Day" on 27 April, the Government has published a consultation setting out proposals for the reform of stamp duty/SDRT for shares and marketable securities.
Following a protracted consultation process, each of the EU and the UK has now finalised its revised requirements for trade reporting under the European Markets Infrastructure Regulation ("EMIR") following the revision of EMIR in 2019 ("EMIR Refit").
If you had an employee share plan or arrangement in the 2022/23 tax year, now is the time to start thinking about your annual reporting obligations.
As the world moves towards net zero, the development of new environmentally friendly technology is increasing in importance. The introduction of green tax incentives in the United States is beginning to impact where green tech developers locate their businesses and where investors spend their capital.