Expert Analysis

• Revised OECD Guidelines Key In Shaping Business Standards

  

  The OECD’s recent revised guidelines on responsible business conduct, supported by a domestic government agencies’ grievance referral mechanism, have already influenced EU due diligence standards, and enterprises engaging in the unique procedure will benefit from case-specific nuances, parallel proceedings and the availability of confidentiality protections, say lawyers at Debevoise.

• Takeaways From CMA's Grocery Sector Unit Pricing Report

  

  The Competition and Markets Authority’s recently published report identifying grocery retailers' problematic and inconsistent behaviors in their use of unit pricing signals that retailers will want to take care to use all pricing structures in a clear and transparent way, and that the CMA's soft approach is ending and enforcement is becoming a costly reality, says Michael Cordeaux at Walker Morris.

• Report Can Aid With Sustainable Finance Disclosure Filings

  

  The European Supervisory Authorities recently issued a report on companies' consideration of the principal adverse impacts of their investment decisions on sustainability factors, providing examples of good and bad disclosure practices under the Sustainable Finance Disclosure Regulation, which firms should note in their future reporting, say lawyers at Debevoise.

• Protecting The Arbitral Process In Russia-Related Disputes

  

  Four recent High Court and Court of Appeal rulings concerning anti-suit injunction claims illustrate that companies exposed to litigation risk in Russia may need to carefully consider how to best protect their interests and the arbitral process with regard to a Russian counterparty, say lawyers at Linklaters.

• Audit Reform Takeaways After Record KPMG Fine

  

  The Financial Reporting Council’s recent £21 million fine against KPMG for its Carillion audit work failures is representative of the agency’s increasing proactivity in policing audit quality, and brings to light the U.K. government’s slow-moving but ongoing efforts to majorly reform audit sector regulations, says Paul Brehony at Signature Litigation.

• Takeaways From The CMA's Green Collaboration Guidance

  

  Recently published Competition and Markets Authority guidance on the application of competition law to environmental sustainability agreements should remove barriers for businesses that want to collaborate on environmental sustainability without breaking the law, say attorneys at Eversheds Sutherland.

• RSA Insurance Ruling Clarifies Definition Of 'Insured Loss'

  

  A London appeals court's recent ruling in Royal & Sun Alliance Insurance v. Tughans, that the insurer must provide coverage for a liability that included the law firm's fees, shows that a claim for the recovery of fees paid to a firm can constitute an insured loss, say James Roberts and Sophia Hanif at Clyde & Co.

• Putin Ruling May Have Unintended Sanctions Consequences

  

  By widening the scope of control, the Court of Appeal's recent judgment in Mints v. PJSC opens the possibility that everything in Russia could be deemed to be controlled by President Vladimir Putin, which would significantly expand the U.K.'s sanctions regime in unintended ways, say attorneys at Greenberg Traurig.

• Navigating The New Framework On Nature-Related Reporting

  

  The Taskforce on Nature-related Financial Disclosures’ recently published disclosure framework represents a significant step toward the coalescence of nature-related disclosure standards for corporates and financial institutions, and has the potential to influence investor expectations and future regulation, say lawyers at Kirkland.

• FCA Engagement Signals New Direction In ESG Disclosures

  

  The Financial Conduct Authority recently published a response to a consultation on sustainability-related standards, highlighting the regulator's priorities for the U.K.'s green transition, including an early indication that it may turn its attention to nature-based disclosures, say Ferdisha Snagg and Andreas Wildner at Cleary.

• New Policies Will Aid UK Cos. Accessing US Capital Markets

  

  The U.K. government's recent adoption of regulations permitting the use of U.S. generally accepted accounting principles, and announcement of measures to remove a 1.5% tax on certain share issues and transfers, should help ensure that England remains an attractive holding company jurisdiction for companies seeking a listing on U.S. stock exchanges, say lawyers at Davis Polk.

• Key Takeaways From ICO Report On Workforce Monitoring

  

  The Information Commissioner's Office recently published guidance on workplace monitoring, highlighting that employers must strike a balance between their business needs and workers' privacy rights to avoid falling afoul of U.K. data protection law requirements, say lawyers at MoFo.

• Creating A Safe Workplace Goes Beyond DEI Compliance

  

  The Financial Conduct Authority and Prudential Regulation Authority recently proposed a new diversity and inclusion regulatory framework to combat sexual harassment in the workplace, and companies should take this opportunity to holistically transform their culture to ensure zero tolerance for misconduct, says Vivek Dodd at Skillcast.

• How UK AI Agency Will Affect Regulatory Landscape

  

  The U.K. government recently unveiled plans for its new Digital Regulation Cooperation Forum AI and Digital Hub, which is poised to be influential in the U.K.’s emerging artificial intelligence landscape through effective collaboration and synchronization between regulators, says Ludovico Lugnani at BDB Pitmans.

• Asset Managers Should Prepare For Nature-Related Reporting

  

  Although it is doubtful that the U.K. nature-related task force’s recent recommendations for mandatory nature reporting will come into effect imminently, it is likely that investors will begin to use them to assess risks and will request asset managers to shift capital flows to more sustainable outcomes, say lawyers at Macfarlanes.