On 11 July 2024, the UK’s Financial Conduct Authority (the FCA) unveiled its final UK Listing Rules for the Main Market, set to take effect on 29 July 2024. These reforms represent the most significant transformation of the...more
On 20 December 2023, the UK Financial Conduct Authority (the “FCA”) published a further consultation paper (CP23/31) (the “December Consultation Paper”) for reforming the UK listing regime....more
As the life sciences, medtech, and diagnostic industries continue to expand and grow increasingly complex, so does the legal, regulatory, and compliance landscape. To help companies and investors navigate the many evolving...more
This edition covers proposed major reforms to the listing and prospectus regimes, corporate governance reforms largely relating to audit and internal controls, and proposed changes to the Takeover Code affecting the...more
The public consultation seeks input on the priorities, strategic direction, and future work of the ISSB. On 4 May 2023, the International Sustainability Standards Board (ISSB) launched a public consultation to seek input...more
The UK’s communications regulator, Ofcom, have provisionally concluded that stricter advertising regulations for commercially-funded public service broadcasting (“PSB”) channels are no longer ‘justified’ or ‘proportionate’...more
The MHRA announced on Tuesday the biggest overhaul of clinical trial regulation in the UK in 20 years. The details of the amendments to clinical trial regulation are set out in the MHRA’s response to a public consultation...more
As part of the Edinburgh Reforms announced by the UK Government (link back to “UK FS Reforms”), the UK Government has launched a public consultation on the VAT treatment of fund management. The consultation, published on 9...more
The UK government is consulting on bringing overseas sovereign investors in UK real estate within the scope of UK direct tax from April 2024 as part of measures amending the scope of the sovereign immunity tax exemption. ...more
The UK Government has announced a public consultation regarding the possible expansion of the UK’s investment manager exemption (“IME”) to encompass crypto-assets. The IME enables UK-based fund managers to provide...more
In this issue of UK Employment Flash, we examine the latest employment law developments from the UK, including the law governing the return to the workplace and flexible working requests and a proposal to impose a duty on...more
The United Kingdom Financial Conduct Authority (“FCA”) has published a consultation on proposals relating to a new type of fund product to support investment in long-term, illiquid assets. The intention is that the Long Term...more
On 31 March 2021, the UK Takeover Panel (the Panel) published Response Statement 2020/1 (the RS) in response to the Public Consultation Paper 2020/1 published by the Panel on 27 October 2020 (the PCP). The PCP proposed...more
The European Commission has published draft updated standard contractual clauses in light of the Schrems II decision. On 12 November 2020, the European Commission (the Commission) published a draft implementing decision,...more
On 27 October 2020, the UK Takeover Panel (the Panel) published Public Consultation Paper 2020/1 (the PCP), which proposes significant changes to the UK Takeover Code (the Code) with regard to the offer timetable and the...more
In March 2020, the UK Financial Conduct Authority (the “FCA”) published consultation paper CP 20/3 concerning proposals to enhance climate-related disclosures by listed issuers and clarification of existing disclosure...more
As part of the series of announcements made in the 2020 Budget, HM Treasury released a consultation document relating to the tax treatment of UK asset holding companies in the context of alternative fund structures... The...more
In 2012, the Wheatley Review recommended reform rather than replacement of LIBOR, on the basis that a transition to a new benchmark would pose an unacceptably high risk of financial instability. Reform came in the form of a...more
On 31 July 2019 the UK Financial Conduct Authority (FCA) published final Guidance on the cryptoasset activities within its regulatory perimeter, in response to feedback on its January 2019 consultation paper and as trailed in...more
On 3 July 2019, the UK's Financial Conduct Authority published a consultation paper in which it proposed to prohibit the sale to all retail clients of derivatives and Exchange Traded Notes (ETNs) that reference certain types...more
Climate change is an increasingly important concern for lawmakers and decision makers around the world. For companies and institutions looking to promote hydrocarbon projects in the future, climate change considerations may...more
• Public consultation follows release of OECD discussion draft on potential tax changes to address difficulties in taxation caused by the digital economy. • OECD hopes to produce “consensus document” with proposed...more
Following its commitment within the report issued on 30 October 2018 by the UK’s Cryptoassets Taskforce1, on 23 January 2019 the FCA issued a Consultation Paper (“CP 19/3”)2 setting out draft regulatory guidance in respect of...more
The U.K. Financial Conduct Authority has launched a consultation on illiquid assets and open ended funds, following responses from stakeholders to a discussion paper it issued early in 2017. After observing the impact of...more
Accountability is the major theme of the recent government consultation regarding ‘Insolvency and Corporate Governance’, which follows high profile failures such as BHS and Carillion. The consultation contains proposals...more