Settlement payment subject to tax as employment income - In Mathur v HMRC, the Upper Tribunal (UT) has upheld the FTT’s decision that a £6 million settlement payment to a former employee following an employment tribunal...more
The US has blacklisted 28 Chinese companies—mostly in the tech sector—over China’s “campaign targeting Uighurs and other predominantly Muslim minorities in the autonomous region of Xingjiang,” a move that’s drawn both...more
The White House is reportedly extending the temporary license for some US businesses to work with Huawei, a move that would likely help smooth the way for trade negotiators between the US and China to see their way back to...more
Carlos Ghosn, the onetime “savior” of Nissan, faced another indignity while again behind bars in Japan—the automaker officially removed the former chair from the board altogether....more
A federal judge said that it is not a violation of federal law for a trading firm and its chief executive officer to be smarter than their counterparties in ruling against the Commodity Futures Trading Commission in an...more
The U.K. Financial Conduct Authority has issued a Final Notice to a former employee of a major EU bank, prohibiting him from performing any function in relation to any regulated financial activity. The individual had been...more
Less than a day after the Journal reported that CBS and the Redstones are nearing a deal to resolve their many differences, we’ve learned that CBS chief Les Moonves—facing an investigation into alleged sexual harassment...more
Price algorithms are clearly the “talk of the town” in the European competition law community these days. Just last week, the German Monopolies Commission published a report in which it discusses potential anti-competitive...more
On June 4, 2018, the Commodity Futures Trading Commission filed and settled charges against a major European investment bank, and the U.S. Department of Justice entered into a deferred prosecution agreement with the bank...more
Discussion of LIBOR was catapulted back into the spotlight last summer when Andrew Bailey, Chief Executive of the UK’s Financial Conduct Authority (FCA), gave a speech1 on the reference rate’s future. The key take-away was...more
In this week's newsletter, we provide a snapshot of the principal U.S., European and global financial regulatory developments of interest to banks, investment firms, broker-dealers, market infrastructure providers, asset...more
The German Federal Cartel Office ("FCO") provided guidance on several hot antitrust topics in July 2017. While the guidance is contained in the FCO's report on its sector inquiry into the cement and ready-mix concrete...more
Non-Recognition of US CCPs as Subject to Equivalent Regulation May Require European-Based Funds to Restrict Trading in US Centrally Cleared Derivatives - An opinion by the European Securities and Markets Authority...more
E-commerce is at the top of the European Commission’s agenda, and recent developments suggest it will remain a priority. Several European Union member states have already taken an active interest in the issue. ...more