Search results

PLC QTRLY - Q3 2024

Published on 15 Oct 2024. By Connor Cahalane, Partner, Head of Public Companies and James Channo, Partner and Karen Hendy, Partner, Head of Corporate

This is our regular quarterly update to help our listed company clients and other market participants keep up to date with key developments relevant to issuers on the Main Market and AIM market of the London Stock Exchange.

PLC QTRLY - Q2 2024

Published on 31 Jul 2024. By Connor Cahalane, Partner, Head of Public Companies and James Channo, Partner and Karen Hendy, Partner, Head of Corporate

This is our regular quarterly update to help our listed company clients and other market participants keep up to date with key developments relevant to issuers on the Main Market and AIM market of the London Stock Exchange.

UK government updates NSIA market guidance and statement on call-in powers

Published on 10 Jul 2024. By Yexi Tran, Associate

Recent developments such as the removal of Huawei from the UK's 5G networks and President Biden's 2023 executive order on outbound investment in sensitive technologies have brought into focus potential national security risks arising from global trade and investment.

PLC QTRLY - Q1 2024

Published on 17 Apr 2024. By Connor Cahalane, Partner, Head of Public Companies and James Channo, Partner and Karen Hendy, Partner, Head of Corporate

This is our regular quarterly update to help our listed company clients and other market participants keep up to date with key developments relevant to issuers on the Main Market and AIM market of the London Stock Exchange.

PLC QTRLY - Q4 2023

Published on 05 Feb 2024. By Connor Cahalane, Partner, Head of Public Companies and James Channo, Partner and Karen Hendy, Partner, Head of Corporate

This is our regular quarterly update to help our listed company clients and other market participants keep up to date with key developments relevant to issuers on the Main Market and AIM market of the London Stock Exchange.

PLC QTRLY - Q3 2023

Published on 12 Oct 2023. By Connor Cahalane, Partner, Head of Public Companies and James Channo, Partner and Karen Hendy, Partner, Head of Corporate

This is our regular quarterly update to help our listed company clients and other market participants keep up to date with key developments relevant to issuers on the Main Market and AIM market of the London Stock Exchange.

PLC QTRLY - Q2 2023

Published on 14 Jul 2023. By Connor Cahalane, Partner, Head of Public Companies and Karen Hendy, Partner, Head of Corporate and Rosamund Akayan, Knowledge Lawyer

This is our regular quarterly update to help our listed company clients and other market participants keep up to date with key developments relevant to issuers on the Main Market and AIM market of the London Stock Exchange.

PLC QTRLY - Q1 2023

Published on 19 Apr 2023. By Connor Cahalane, Partner, Head of Public Companies and Karen Hendy, Partner, Head of Corporate and Rosamund Akayan, Knowledge Lawyer

This is our regular quarterly update to help our listed company clients and other market participants keep up to date with key developments relevant to issuers on the Main Market and AIM market of the London Stock Exchange.

PLC QTRLY - Q4 2022

Published on 02 Feb 2023. By Connor Cahalane, Partner, Head of Public Companies and Karen Hendy, Partner, Head of Corporate and Rosamund Akayan, Knowledge Lawyer

This is our regular quarterly update to help our listed company clients and other market participants keep up to date with key developments relevant to issuers on the Main Market and AIM market of the London Stock Exchange.

PLC QTRLY - Q3 2022

Published on 14 Nov 2022. By Connor Cahalane, Partner, Head of Public Companies

This is our regular quarterly update to help our listed company clients and other market participants keep up to date with key developments relevant to issuers on the Main Market and AIM market of the London Stock Exchange.

PLC QTRLY - Q2 2022

Published on 26 Jul 2022. By Connor Cahalane, Partner, Head of Public Companies

This is our regular quarterly update to help our listed company clients and other market participants keep up to date with key developments relevant to issuers on the Main Market and AIM market of the London Stock Exchange.

PLC QTRLY - Q1 2022

Published on 13 Apr 2022. By Connor Cahalane, Partner, Head of Public Companies

Post-Covid and post-Brexit changes are on the horizon for the UK's public companies. This is the first of our regular updates to help our listed company clients and other market participants keep up to date with key developments relevant to issuers on the Main Market and AIM market of the London Stock Exchange.

The EU Compliance headache you don't know you have? A priority primer on the European Accessibility Act

Published on 31 Oct 2024. By Oliver Bray, Senior Partner and Hettie Homewood , Senior Associate

It is now less than a year until the EU Accessibility Act (EAA) comes into force, which will require businesses to ensure a range of products (eg smartphones and computers) and services (eg e-commerce services, consumer banking services, and ebooks) are accessible for persons with disabilities.

Seeing the wood for the trees: preparing for new deforestation due diligence rules in the UK and EU

Published on 24 Oct 2024. By Sophie Tuson, Senior Associate, Environment and Climate Change Practice Lead

Going Green – staying on the right side of competition law

Published on 15 May 2023. By Melanie Musgrave, Of Counsel

Environmental issues are high on the agenda for many consumers and businesses alike. They are also increasingly an area of focus for competition authorities around the world, including the Competition and Markets Authority (CMA), who are keen to ensure that competition law concerns do not unnecessarily prevent businesses from collaborating legitimately on environmental sustainability initiatives.

W&I insurance: Key lessons from recent case law

Published on 22 Aug 2024. By Guinevere Lydia Wentworth, Associate and Charmaine Chew, Senior Associate

Recent case law has highlighted the importance of understanding how a buyer on a share or asset sale has valued the target business and the clear drafting of exclusions. This blog considers the key takeaways for both warranty and indemnity (W&I) insurers and insureds.

ClientEarth challenges claims made by BlackRock in its sustainable funds

Published on 28 Oct 2024. By James Wickes, Partner and Catherine Zakarias-Welch, Knowledge Lawyer

Not only are regulators clamping down on greenwashing but, as previously highlighted, ClientEarth, a non-profit international environmental law organisation, also has this issue squarely in its sights.

Architects' Code reforms – it's important that you have your say!

Published on 08 Oct 2024. By Alexandra Anderson, Partner and Emma Wherry, Senior Associate

The Architects Registration Board (ARB) is consulting on a proposed new code of professional conduct for architects. The proposed new Code is shorter and simpler, but may be more complex to apply and more onerous. Architects should consider responding to the consultation by the deadline of 12 December 2024.

Uncertainty around the mandatory reimbursement cap for APP frauds – a new headache for FI firms and their insurers?

Published on 09 Sep 2024. By James Wickes, Partner and Aimee Talbot, Knowledge Lawyer

New regulations coming on 7 October 2024 will force payment firms to reimburse victims of authorised push payment (APP) fraud up to a set limit. On 4 September 2024, the Payment Systems Regulator (PSR) announced a consultation proposing to set this limit at £85,000, vastly reduced from the previously proposed £415,000 cap. This is a potential headache for insurers as the level of the cap will impact assessment of risk and apportionment of liability between sending and receiving payment firms – and the industry will only have 7 days to prepare.

Construction disciplinary trends analysis #3: fraud and dishonesty

Published on 12 Aug 2024. By Ben Goodier, Partner and Emma Wherry, Senior Associate and Aimee Talbot, Knowledge Lawyer

This article is the third instalment in our mini-series analysing trends in disciplinary decisions involving construction professionals, with insight from our specialist disciplinary team.

Further welcome news from the FCA – this time on co-manufacturing

Published on 08 Aug 2024. By Jonathan Charwat, Partner and Lauren Murphy, Senior Associate

Following on from our earlier blog, our review of the FCA's 'Discussion Paper' (DP24/1) continues, this time considering the rules relating to co-manufacturers of insurance products.

Potential deregulation and a pragmatic approach to commercial insurance – welcome news from the FCA

Published on 01 Aug 2024. By Jonathan Charwat, Partner and James Houlihan, Associate

The FCA has published a 'Discussion Paper' (DP24/1) seeking feedback on its rules on commercial insurance including in respect of the types of commercial customers in-scope, co-manufacturing of products and bespoke insurance products.

New Labour government – what is in store for the UK?

Published on 09 Jul 2024. By Rachael Healey, Partner

We have a new Labour Party government for the first time in 14 years. The new government has already made various announcements, with more set to follow in the coming days, and then we have the King’s Speech on 17 July, when the Labour Party will set out its opening legislative agenda – but what can we expect from the new government impacting services regulated by the Financial Conduct Authority, pensions and accountants?

Construction disciplinary trends analysis #2: engagement letters – worth more than the paper they're written on!

Published on 21 Feb 2024. By Ben Goodier, Partner and Emma Wherry, Senior Associate and Aimee Talbot, Knowledge Lawyer

This article is the second in our mini-series analysing trends in disciplinary decisions involving construction professionals, with insight from our specialist disciplinary team.

Construction disciplinary trends analysis #1: continuing professional development

Published on 16 Oct 2023. By Ben Goodier, Partner and Emma Wherry, Senior Associate and Aimee Talbot, Knowledge Lawyer

This article is the first in our mini-series analysing trends in disciplinary decisions involving construction professionals, with insight from our specialist disciplinary team.

New developments in AI may put law firms at greater risk of phishing fraud

Published on 28 Apr 2023. By Will Sefton, Partner and Head of the Lawyers Liability and Regulatory Group

As the computing power of Artificial Intelligence continues to grow exponentially, we consider how generative technology may expand the reach of traditional phishing frauds aimed at law firms.

Is the FCA to blame for BSPS? MPs seem to think so

Published on 22 Jul 2022. By Rachael Healey, Partner

The House of Commons Public Accounts Committee (PAC) yesterday published a report entitled "Investigation into the British Steel Pension Scheme". The report makes a number of recommendations in light of its investigations in to the FCA's conduct and regulatory oversight at the time of the issues arising from the British Steel Pension Scheme (BSPS) and in particular the decision by 7,834 members to transfer to a personal pension arrangement. The report is heavily critical of the FCA's handling of BSPS and its regulatory oversight of the defined benefit transfer market generally. Given the request in the report for an update from the FCA on its progress on the various recommendations and conclusions in 6 months' time, we wait to see how the FCA reacts to yet further criticism of its handling of BSPS at a time when it is reviewing responses to the consumer redress scheme consultation.

SIPPs and FOS - does the Rowanmoor decision change anything?

Published on 02 Feb 2022. By Rachael Healey, Partner

Last week FOS published a decision it reached last year in a complaint against a SIPP provider involving advised sales. The FOS upheld the complaint, finding that the SIPP provider should have rejected business from the regulated financial adviser, CIB Life and Pensions Limited (CIB), given, broadly, red flags available to the SIPP provider with respect to the operation of CIB's business model including that CIB was not advising on the ultimate investment within the SIPP and as a result such introductions involved a significant risk of consumer detriment. The decision has received quite a bit of press attention - but has it moved the dial for SIPP complaints before FOS or not?

The Future of Insolvency Regulation

Published on 04 Jan 2022. By Rachael Healey, Partner

On 21 December 2021 the Government launched a consultation into the future of insolvency regulation. The changes proposed in the consultation document will have a wide ranging impact on the insolvency profession (and its insurers) with the proposals including: the direct regulation of insolvency firms, the introduction of a single regulatory body with powers to order compensation against insolvency practitioners and firms, a new additional requirements regime, changes to the bond regime and a public register of insolvency practitioners and firms. Many of the changes proposed require primary legislation and so it may be some time before the changes to take effect (if adopted). But there does appear to be some wind behind these proposals given they follow on from the Call for Evidence in 2019 and a more general focus on insolvency issues in the wake of the Covid-19 pandemic.

Corporate transparency reforms: what comes next?

Published on 20 Dec 2024. By Ella Shanks, Senior Associate

Last year, we reported on the impact of the Economic Crime and Corporate Transparency Act 2023 (the Act), which introduces the biggest changes to Companies House since corporate registrations were established in 1844. Companies House has now issued a transition plan for implementation of the Act, summarising the changes which have already been brought into effect and laying out Companies House's timing expectations for implementation of the remaining updates, including those relating to identity verification.

Take notice: Court of Appeal reverses High Court decision on validity of notice of warranty claim

Published on 11 Nov 2024. By Rosamund Akayan, Knowledge Lawyer

Last year we reported on the High Court's decision in Drax Smart Generation Holdco Limited v Scottish Power Retail Holdings Limited [2023] EWHC 412 (Comm) that a purchaser's breach of warranty claim under a share purchase agreement (SPA) was time-barred by a clause that required the purchaser to notify its claim before a specified date "stating in reasonable detail the nature of the claim and the amount claimed (detailing the Buyer's calculation of the Loss thereby alleged to have been suffered)".

Autumn Budget 2024 – Main tax announcements

Published on 04 Nov 2024. By Ben Roberts, Partner and Rachel Stanley, Associate

The Chancellor, Rachel Reeves, delivered the Autumn Budget 2024 on Wednesday 30th October. In doing so, she made the first set of Budget announcements by a Labour Government since 2010. This year's Budget was one of the most eagerly awaited for some time. In terms of the breadth of announcements, it did not disappoint.

UK National Security Screening: NSIA Annual Report 2023-24

Published on 22 Oct 2024. By Josh Smith, Senior Associate

On 10 September 2024, the Government published its third Annual Report (Report) into the acquisition and investment screening regime established by the National Security and Investment Act 2021 (NSIA), covering the year from 1 April 2023 to 31 March 2024. With very limited information regarding cases reviewed under the NSIA regime being publicly available, the Report provides useful colour and insight around the current application of the regime by the Government's Investment Security Unit (ISU) (which administers the operation of the NSIA) and potential trends.

Final UK listing rules: modified transfer process for issuers in transition category

Published on 14 Aug 2024. By Janice Chan, Senior Associate

On 11 July 2024, the FCA published the final UK Listing Rules (UKLR) which came into effect on 29 July 2024 (Implementation Date). The UKLR are broadly in line with the FCA's previous proposals.

UK listing regime reforms: impact on standard listed issuers

Published on 08 May 2024. By Janice Chan, Senior Associate

Following the FCA's May 2023 consultation on major reforms to streamline and enhance the UK listing regime and its December 2023 publication of detailed proposals, the FCA has now published a consolidated draft UK Listing Rules instrument (UKLR) to replace the current Listing Rules, together with proposed changes to its guidance.

Reversal of recent changes to the Financial Promotions Order

Published on 27 Mar 2024. By Whitney Simpson, Of Counsel

A number of the provisions of the Economic Crime and Corporate Transparency Act 2023 came into force on 4 March 2024. This Act is intended to give UK Companies House greater powers to prevent UK companies from being used for economic crimes.

Provisions of Economic Crime and Corporate Transparency Act 2023 now in force

Published on 14 Mar 2024. By Rosamund Akayan, Knowledge Lawyer

A number of the provisions of the Economic Crime and Corporate Transparency Act 2023 came into force on 4 March 2024. This Act is intended to give UK Companies House greater powers to prevent UK companies from being used for economic crimes.

Spring Budget 2024 – Main tax announcements

Published on 12 Mar 2024. By Ben Roberts, Partner

This blog discusses some of the key tax changes announced in last week's Spring Budget.

Thinking of marketing a sale of unlisted shares?… There have been some changes to the Financial Promotions Order you need to know about

Published on 27 Feb 2024. By Whitney Simpson, Of Counsel

On 31 January 2024, changes made to the high net worth individual and self-certified sophisticated investor exemptions contained in the Financial Services and Markets Act 2000 (Financial Promotions) Order 2005 ("FPO") came into effect.

What do your corporate governance leads need to know about tackling greenwashing?

Published on 13 Nov 2023.

The Chartered Governance Institute UK & Ireland (CGI) has published a helpful report, "Tackling greenwashing from a governance perspective", to assist corporate governance professionals in ensuring organisations are compliant with new expectations.

Economic Crime and Corporate Transparency Act – what you need to know about the corporate transparency reforms

Published on 06 Nov 2023. By Rosamund Akayan, Knowledge Lawyer

The Economic Crime and Corporate Transparency Act, which received Royal Assent on 26 October 2023, overhauls the role of Companies House and the corporate transparency obligations of UK companies.

US to prohibit outbound investment in certain advanced technologies – a massive expansion of national security laws

Published on 22 Aug 2023. By Neil Brown, Partner

On 9 August 2023, President Biden declared a US national emergency in relation to the national security threat posed by certain advanced technologies and issued an Executive Order directing that investment by US persons in such technologies be subject to prior notification or outright prohibition.

Finsbury Food v AXIS: what are the key takeaways for warranty and indemnity insurers and policyholders?

Published on 19 Jul 2023. By Charmaine Chew, Senior Associate and Matt Ward, Associate

The Commercial Court recently handed down its judgment in the case of Finsbury Food Group Plc v AXIS Corporate Capital UK Ltd & Ors [2023] EWHC 1559 (Comm). This is the first time the court has considered a claim under a W&I insurance policy, and provides a helpful example of how key concepts, such as material adverse change and valuation, are considered by the court.

10 Practical Tips for Navigating the W&I Underwriting Process

Published on 12 Jun 2023. By Charmaine Chew, Senior Associate

Warranty and indemnity (W&I) insurance provides cover for losses arising from a breach of warranty, or a tax deed claim, in connection with a merger or acquisition (M&A) transaction. The use of W&I insurance offers significant advantages (such as allowing the seller to make a clean exit, and helping to maintain the relationship between the parties), and as such, is becoming an increasingly common feature of M&A transactions.

Automatic conversion of shares held invalid

Published on 30 May 2023. By Arjun Patel, Associate

The High Court has interpreted that a right for preferred shares to be converted to ordinary shares is subject to class right approval by the preferred shareholders.

Take notice: the importance of complying with formal notification requirements

Published on 23 May 2023.

A recent judgment of the High Court has highlighted the potential hurdles thrown up by notification clauses in share purchase agreements.

Sustainability-Linked Bonds

Published on 24 Apr 2023.

The ESG finance market continues to develop and grow as interest and demand for environmentally and socially conscious investments becomes more and more important to investors around the world.

Proposed removal of requirement for shareholder vote on significant transactions and related party transactions: FCA provides update on Listing Rule reforms

Published on 03 Apr 2023. By Karen Hendy, Partner, Head of Corporate and Connor Cahalane, Partner, Head of Public Companies

The FCA has provided an update on reforms to the Listing Rules proposed last year in its discussion paper DP22/2.

Key takeaways from the first year of the national security regime

Published on 22 Mar 2023. By Bridget Lockhart, Associate

The UK's new national security screening regime has now been in operation for over a year. This blog discusses the key takeaways from the first decisions to be made under the UK's new national security screening regime.

Spring Budget 2023 - Main Tax Announcements

Published on 16 Mar 2023. By Ben Roberts, Partner

This blog discusses some of the key tax changes announced in this week's Spring Budget.