News & Analysis as of

Guidance Update United Kingdom

Skadden, Arps, Slate, Meagher & Flom LLP

FCA Reports Spotty Compliance With Crypto Financial Promotions Rules, More Interventions

On 7 August 2024, the UK Financial Conduct Authority (FCA) published an update regarding its ongoing assessment of crypto firms’ adherence to the cryptoasset financial promotions rules introduced in October 2023. See our 23...more

A&O Shearman

Key antitrust findings - May 2024

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This newsletter is a summary of the antitrust developments we think are most interesting to your business. David Higbee (Global Head of Antitrust) and Dominic Long (Global Deputy Head of Antitrust) are our editors this month....more

White & Case LLP

New UK Corporate Governance Code – getting ready for the changes

White & Case LLP on

On 22 January 2024, the Financial Reporting Council (FRC) published its much-anticipated revisions to the UK Corporate Governance Code (the Code) which was followed on 29 January 2024 by revised guidance on the Code. In this...more

BCLP

On Watch - Do regulators now expect firms to monitor communications using AI?

BCLP on

Artificial Intelligence (AI) is no longer just a buzzword, but a reality that is firmly on the radar of regulators and regulated firms in the US and UK. Recently, considerable investment into this area has prompted...more

Proskauer - Regulatory & Compliance

Requirements for UK High Net Worth and Self-Certified Investors Changing From 31 January 2024

From 31 January 2024 the exemptions available from the restriction on communicating financial promotions appliable to high net worth (“HNW”) individuals and self-certified investors are changing. The updates are...more

Ogletree, Deakins, Nash, Smoak & Stewart,...

UK Information Commissioner Publishes New Guidance on Employee Monitoring

On October 3, 2023, the UK Information Commissioner’s Office (ICO) published updated guidance on monitoring workers. The guidance is designed to help employers think about what they might need to consider under the UK General...more

Latham & Watkins LLP

Pension Superfunds Return to the De-Risking Menu

Latham & Watkins LLP on

The UK government has signalled the importance of introducing a permanent superfund regulatory regime. After the excitement around Clara-Pensions’ approval as a “superfund”, or pension consolidator, in late 2021, the...more

Latham & Watkins LLP

FCA Consults on Revamped Guidance for Financial Promotions on Social Media

Latham & Watkins LLP on

Regulator clarifies that existing FCA rules will continue to apply but will also reflect the evolving landscape of financial promotions on social media. On 17 July 2023, the FCA published a guidance consultation (GC23/2)...more

Latham & Watkins LLP

UK Advertising Standards Authority Publishes Updated Guidance on Greenwashing Claims

Latham & Watkins LLP on

The ASA conveyed a sense of urgency, as it believes influencing consumer behaviour will be an important part of meeting UK net zero targets. On 23 June 2023, the UK’s Advertising Standards Authority (ASA) published an...more

Latham & Watkins LLP

OECD Updates Corporate Due Diligence Guidelines

Latham & Watkins LLP on

The Guidelines build on current social, environmental, and technological issues facing businesses following the last update in 2011. The Organisation for Economic Co-operation and Development (OECD) released updated...more

Hogan Lovells

Revealing - UK ICO guidance on employee subject access requests

Hogan Lovells on

The UK ICO has provided guidance for employers on responding to employee subject access requests. Although much of the content reflects existing guidance, it deals specifically with issues such as requests made in the context...more

WilmerHale

OFSI Issues Updated Guidance Relating to Assessments of due Diligence Conducted in Relation to the “Ownership and Control” Test,...

WilmerHale on

The Office of Financial Sanctions Implementation (OFSI) has updated its ‘enforcement and monetary penalties for breaches of financial sanctions’ guidance, which was last updated in June 2022. ...more

Foley Hoag LLP

G7 Nations Set Two Additional Price Caps Related to the Maritime Transport of Petroleum Products of Russian Origin

Foley Hoag LLP on

In order to continue restricting Russia’s ability to finance war efforts against Ukraine, on February 3, 2023, the G7 nations implemented two new price caps on seaborne petroleum products that originate in Russia (“Russian...more

Skadden, Arps, Slate, Meagher & Flom LLP

France Further Aligns Corporate Crime Guidance With US and UK Approaches to Sentencing and Leniency

On January 16, 2023, France’s financial prosecutor, the “Parquet National Financier” (PNF), issued updated guidance (the Guidelines) regarding its approach to offering, negotiating and entering into French deferred...more

Skadden, Arps, Slate, Meagher & Flom LLP

Executive Compensation: Considerations for UK Companies for the 2023 Voting Season

U.K. institutional investor bodies, including the Investment Association (IA), Institutional Shareholder Services (ISS), Legal & General Investment Management (LGIM) and Glass, Lewis & Co. (Glass Lewis) recently published...more

Skadden, Arps, Slate, Meagher & Flom LLP

UK-Listed Issuers Under Financial Stress Gain Latitude in Secondary Capital Raisings

As the U.K. faces what the Bank of England recently described as “very challenging” times, with the possibility of the U.K.’s “longest recession since records began,” issuers listed on the London Stock Exchange should pay...more

Goodwin

The UK’s MHRA Updates its Guidance on Licensing of Biosimilars

Goodwin on

On November 7, 2022, the UK’s Medicines and Healthcare Products Regulatory Agency (“MHRA”) updated its “Guidance on the licensing of biosimilar products” by expanding the criteria for achieving interchangeability between a...more

Conyers

Hague Service, or Substituted Service, of Cayman Islands Court Proceedings: Not Just a Technical Game

Conyers on

The Cayman Islands, as a British Overseas Territory, is a party, through the United Kingdom, to the Hague Convention on the Service Abroad of Judicial and Extra-Judicial Documents in Civil or Commercial Matters (‘the Hague...more

White & Case LLP

Revised EU “Blue Guide” on product rules zooms in on e-commerce, modifications/repairs, assembling, software and Brexit

White & Case LLP on

On 29 June 2022, the European Commission revealed its updated Blue Guide on the implementation of product rules in the EU. This contains some important changes, reflecting current market surveillance rules, and fills some...more

BCLP

An update on relying on oral evidence from abroad in the UK Tax Tribunal

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In this blog, we consider the First-tier Tribunal (Tax Chamber)’s recent update to its guidance for parties wishing to rely on evidence given by a witness from outside the UK. The First-tier Tribunal (Tax Chamber) (the...more

King & Spalding

Further Court Guidance on the Enforceability of Liquidated Damages

King & Spalding on

Shortly after the long-awaited Supreme Court judgment on the operation of liquidated damages in the event of termination, the English courts have delivered another important judgment on the operation of liquidated damages,...more

BCLP

COVID-19 and travel insurance: The FCA updates its expectations of general insurance firms

BCLP on

The FCA, on 19 July 2021, updated its webpage setting out its expectations of general insurance firms in the light of COVID-19 to clarify its expectations about travel insurance. Although the FCA had previously published...more

BCLP

The CPS cracks down on Money Laundering; but to what effect?

BCLP on

On 2 June 2021, the Crown Prosecution Service (the “CPS”) updated its Money Laundering Offences guidance on prosecuting ‘failure to disclose’ offences under section 330 of the Proceeds of Crime Act 2002. Such a failure exists...more

Skadden, Arps, Slate, Meagher & Flom LLP

Revised Merger Assessment Guidelines Codify UK Interventionist Approach to Dynamic Markets

The U.K.’s Competition & Markets Authority (CMA) has released new merger assessment guidelines that confirm the U.K. regulator’s intensified approach to merger control.1 The guidelines largely codify the CMA’s recent output,...more

Gibney Anthony & Flaherty, LLP

U.S. Department of State Restricts Eligibility for National Interest Exemptions

On March 2, 2021, the U.S. Department of State issued revised guidance further limiting eligibility for National Interest Exemptions (NIEs) for travelers from the Schengen Area, the United Kingdom and Ireland whose...more

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