Expert Analysis

• Considerations For Fund Managers Seeking Retail Investment

  

  With recent legal developments, including a revised Long Term Investment Funds Regulation effective in 2024, supporting the market trend of retailization, there are several practical considerations for alternative fund managers embarking on a European fundraise for retail capital, say Zac Mellor-Clark and Kate Downey at Fried Frank.

• FDI Considerations For UK Venture Capital Transactions

  

  With the U.K. National Security and Investment Act highlighting foreign direct investment matters for venture capital transactions, investors dealing with companies connected to the U.K. should be alive to how the act's requirements can affect deal timelines, structures and terms, say lawyers at Covington.

• What The Anti-Coercion Instrument Will Bring To The EU

  

  Vassilis Akritidis and Jean-Baptiste Blancardi at Crowell & Moring discuss why the European Union recently adopted a report on the anti-coercion instrument to reform its trade legislation, how the instrument will be used to respond to unfair economic pressure from third countries, and how businesses can impact the EU's decision making.

• Why FCA Crypto Rules Need To Align With UK Gov't Aims

  

  There is a critical need for cryptocurrency regulations that protect consumers while supporting the government's aim to make the U.K. a crypto hub, but the Financial Conduct Authority’s recently effective rules on financial promotion of crypto-assets bring an unintended risk that legitimate firms will be driven out of the market, says Laura Navarathnam at the Crypto Council for Innovation.

• What To Consider When Making Brand Sustainability Claims

  

  A recent KMPG report shows that while consumers are actively seeking out sustainable products, most will also avoid brands caught misleading customers about their sustainable credentials, meaning companies must walk a fine line between promoting and exaggerating sustainability claims, says Iona Silverman at Freeths.

• In Balancing Commerce And Privacy Interests, Consent Is Key

  

  Although the European Commission's recent adoption of the EU-U.S. data privacy framework will make the use of tracking services with pixels easier, it highlights the significance of website visitor consent and the need for enterprises to provide users with complete and transparent information while adhering to all data protection regulations, say Áron Hegyi and Máté Dura at Schönherr.

• CMA Report On AI May Lead to Greater Competition Control

  

  The U.K. Competition and Markets Authority’s recent report on artificial intelligence foundation models is a sign that developers could face increased merger control and antitrust enforcement, and businesses should be mindful of these views to ensure that their models do not come under investigation, say attorneys at Morgan Lewis.

• UK Mozambique Ruling Will Have Int'l Ramifications

  

  The recent U.K. Supreme Court judgment in Mozambique v. Privinvest considered for the first time stay proceedings under the Arbitration Act, offering guidance on whether claims are a "matter" within the scope of an arbitration clause, which could become a point of reference for foreign courts in the future, say lawyers at Herbert Smith.

• Recent Trends In European ESG-Related Shareholder Activism

  

  New ESG reporting standards in the European Union, as well as recent climate change, board diversity and human rights cases, illustrate how shareholder activism may become more prominent in years to come as regulation and investor engagement continues to strengthen, say lawyers at Debevoise.

• Audit Regulator Review Has Tips On Climate Metric Reporting

  

  The U.K. Financial Reporting Council’s recent review of climate-related metrics and targets in listed companies’ annual reports is an extremely useful guide for issuers considering the quality of their disclosure reporting, with a number of key areas identified as central to further improvement, say lawyers at Bryan Cave.

• What Russia Case Reveals About UK Sanctions Enforcement

  

  The Office of Financial Sanctions Implementation recently issued its first enforcement action under the U.K.'s expanded Russia sanctions against a relatively small company for a moderately severe breach — a decision that highlights several questions about the watchdog’s purpose and methods, say Maia Cohen-Lask and Tasha Benkhadra at Corker Binning.

• Breaking Down The UK's Draft Updates To Prospectus Regime

  While there still may be changes, the U.K.'s near-final draft statutory instrument to update and in some parts replace the current on-shored EU prospectus regime is likely to represent a significant overhaul of the existing regime and may make U.K. capital markets a more attractive venue for listings for issuers, say attorneys at Debevoise.

• Italy's Bank-Profits Tax Plan May Become Model For Eurozone

  

  If Italy's recently proposed 40% bank-profits tax helps keep its populist coalition government in power, notwithstanding the European Central Bank's legal challenges, the passage could spark a windfall tax trend across the eurozone and even in the U.K., says Cris Cicala at Stinson.

• Accountability Is Key To Preventing Miscarriages Of Justice

  

  The wrongful conviction of Andrew Malkinson and other recent cases show that in order to avoid future miscarriages of justice, there needs to be a fundamental reevaluation of how investigators, prosecutors and the Criminal Cases Review Commission operate, prioritizing stronger penalties and increased funding, say Thomas Walford at Expert Evidence International and policy analyst Gerald Frost.

• 4 Compliance Considerations Under FCA Consumer Duty

  

  Following the U.K. Financial Conduct Authority's recent introduction of the new consumer duty regime, firms will need to be mindful of data protection implications when managing their compliance with the duty and data protection legislation, say lawyers at Bird & Bird.