Podcast: Illinois Tool Works Inc. & Subsidiaries v. Commissioner of Internal Revenue
FCPA Compliance and Ethics Report-Episode 142-Reflections on the Goodyear FCPA Enforcement Action
FCPA Compliance and Ethics Report-Episode 122-with Matt Kelly on Alstom, Avon and Petrobras
FCPA Compliance and Ethics Report-Episode 117-the Avon FCPA Enforcement Action
Cross-Border Update on Investing and Doing Business in the United States
The European Commission (EC) has issued preliminary clarifications concerning the distortion test under the new Foreign Subsidies Regulation (FSR). These preliminary clarifications come only a year after the FSR came into...more
In this dynamic global landscape, investors have always been required to make savvy, smart choices. This requires navigating through the intricate web of bilateral treaty protection, exploring the vital role these agreements...more
Companies looking at M&A deals with an EU exposure, or preparing to respond to an EU public tender, will face a new regulatory constraint as the European Commission has enacted its long awaited (and criticised) Foreign...more
Back in July, we took a look at the enforcement actions for the first half of 2021 issued by the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC). Today’s post – the second half of our OFAC 2021 Year...more
The UK Supreme Court issued its highly anticipated judgment in Okpabi and others v Royal Dutch Shell Plc and another [2021] UKSC 3 on 12 February 2021, following its findings in Vedanta Resources plc and another v Lungowe and...more
The UK Supreme Court has handed down its judgment in the case of Okpabi and others v Royal Dutch Shell Plc and another....more
Takeaways - - The TCA requires parties to maintain standards in nontrade-related policy areas, particularly social, labour and environmental. - The provisions potentially may disrupt EU-UK trade disputes. - It...more
In HMRC v Development Securities, the Court of Appeal (the “CA”) has overruled the Upper Tribunal and agreed with the First-tier Tribunal that the relevant Jersey incorporated subsidiaries of a UK parent were resident in the...more
Following their consultation earlier this year, the Bank of England and the Prudential Regulation Authority have finalized the new Resolvability Assessment Framework. The Framework comprises: (i) the BoE's approach to...more
Development Securities plc and others v HMRC [2019] UKUT 169 (TCC) - The Original Judgment - As we reported in our August 2017 UK Tax Round-Up [https://www.proskauer.com/newsletter/uk-tax-round-up-august-2017], the...more
Since 2015, three cases have gradually been making their way through the English appeal courts: Lungowe v Vedanta Resources Plc; Okpabi v Royal Dutch Shell; and AAA & Ors v Unilever. To quote the Court of Appeal in...more
On 10 April 2019, the UK Supreme Court handed down its judgment in Vedanta Resources PLC and anor. v Lungowe and others [2019] UKSC 20; a long awaited decision on parent company liability and the jurisdiction of English...more
David Conaway reports on a ruling by the English High Court in late 2018 that impacted the US Chapter 11 proceedings in Delaware. Originally published in Eurofenix, Spring 2019. ...more
The case of Lungowe and others v Vedanta Resources Plc and Konkola Copper Mines Plc has just been before the Supreme Court on the question of whether the courts of England and Wales should hear this overseas claim. In...more
On August 24, 2018, the U.S. Department of State announced a new but limited export licensing policy for defense and national security-sensitive goods and technology to Russia, effective August 27, 2018. The export licensing...more
General UK Tax Developments - Enterprise management incentive (EMI) options State Aid approval - We referred in the April UK Tax Round Up to the expiry of the EU's State Aid approval for EMI options. Fortunately, this...more
Shakespeare’s observation that the “past is prologue” certainly applies to corporate criminal liability in the UK and France, as these jurisdictions embrace with gusto corporate prosecutions akin to those pursued in the US...more
The Background: The European Commission has opened an in-depth investigation into a specific provision of the UK-controlled foreign company rules. The Issue: The Commission will investigate whether the UK's so-called Group...more
This case is the latest in a line of cases before the English courts about parent company liability, specifically the duty of care owed for activities of their subsidiaries. ...more
The Court of Appeal confirmed that a UK parent company’s duty of care may, in certain circumstances, extend to employees of a subsidiary and it was arguable that such a duty could also be owed to third parties affected by a...more
On 26 October 2017, the European Commission (the Commission) opened an in-depth investigation into UK statutory rules that exempt certain financing income earned by foreign subsidiaries of UK corporate taxpayers from UK tax....more
The Court of Appeal has handed down its judgment in a landmark case on jurisdiction and parent company liability (Lungowe and Ors. v Vedanta Resources Plc and Konkola Copper Mines Plc [2017] EWCA Civ 1528). The judgment...more
So, what is LIBOR? LIBOR—the London Interbank Offered Rate—is one of the most ubiquitous benchmarks for determining short-term interest rates in bank (and other) lending. LIBOR rates are short-term fixed rates quoted for...more
BROKER-DEALER – “Trade Match” and “Trade Acceptance” Clearing Submissions on FINRA’s Alternative Display Facility – On October 7, the Financial Industry Regulatory Authority issued a Trade Reporting Notice regarding...more
In order to provide an overview for busy in-house counsel and compliance professionals, we summarize below some of the most important international anti-corruption developments from the past month, with links to primary...more