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Covered: Insurance regulation – Asia edition
Covered: Insurance regulation – Asia edition
Read moreConsumer duty and claims handling – beware of sludge practices
The Consumer Duty is a new regulatory framework developed by the Financial Conduct Authority (FCA) aimed at creating a higher standard of consumer protection in the retail markets. The FCA expects the Consumer Duty to be a significant shift for the market in terms of its expectations on firms and in this blog we consider this shift in the context of insurance claims handling.
Read moreProposed removal of requirement for shareholder vote on significant transactions and related party transactions: FCA provides update on Listing Rule reforms
The FCA has provided an update on reforms to the Listing Rules proposed last year in its discussion paper DP22/2.
Read moreKey takeaways from the first year of the national security regime
The UK's new national security screening regime has now been in operation for over a year. This blog discusses the key takeaways from the first decisions to be made under the UK's new national security screening regime.
Read moreSpring Budget 2023 - Main Tax Announcements
This blog discusses some of the key tax changes announced in this week's Spring Budget.
Read moreJapan Europe M&A trends – January 2023
Following a recent trip to Japan, I came away with a clear sense that Japan Inc remains keen on making acquisitions and investments of UK and European businesses.
Read moreWhen is a director personally liable for a company's wrongs?
A recent Court of Appeal judgment considers when a director might be liable for wrongs committed by the company (including, specifically, by way of accessory liability).
Read moreMeaning of contractual duty of good faith
The Court of Appeal has taken a restrictive interpretation of an express duty of good faith in a decision handed down on 21 October 2022 - Re Compound Photonics Group Ltd; Faulkner v. Vollin Holdings Ltd [2022] EWCA Civ 1371. This decision is important as (i) the Court of Appeal judgment provides a lengthy examination of the meaning of a contractual duty of good faith, and (ii) the decision casts doubt on some previous case law on this point (including overturing the High Court's decision).
Read moreUS and Chinese regulators sign landmark agreement on inspection of Chinese audit work
On 26 August 2022, the US Public Company Accounting Oversight Board (PCAOB) and the PRC China Securities Regulatory Commission (CSRC) and Ministry of Finance (MoF) signed a Statement of Protocol that would allow US regulators access to audits of Chinese companies listed on the US stock exchanges.
Read moreHong Kong Employment Law Update: Mandatory Provident Fund offsetting mechanism to be abolished after decade-long debate and campaigning
Following on from our brief update published on 9 June 2022, this article provides a detailed overview of the amendments put forward by the long-awaited Employment and Retirement Schemes Legislation (Offsetting Arrangement) (Amendment) Bill 2022 (the "Bill"), which was finally passed by the Legislative Council on 9 June 2022. The main feature of the Bill is the abolishment of the offsetting mechanism of the Mandatory Provident Fund ("MPF").
Read moreModel Articles deemed unsuitable for sole director companies
A recent decision of the High Court in Hashmi v Lorimer-Wing [2022] EWHC 191 (Ch) has suggested that the model articles for private companies are not suitable for companies with a sole director appointed.
Read moreHow to comply with the FCA's new diversity and inclusion targets for listed companies
The FCA has finalised its new rules on diversity and inclusion on listed company boards and executive committees. The rules, which are set out in the FCA's policy paper PS22/3: Diversity and inclusion on company boards and executive management, are substantially in line with the proposals set out in the FCA's consultation paper CP 21/24. In scope listed companies are required to include a statement in their annual financial report on whether they have met specific board diversity targets on a ‘comply or explain’ basis, as at a chosen reference date within their accounting period.
Read moreHong Kong Wage Subsidy Update – Government announces new round of Employment Support Scheme
The Government has at last finalized the details of the new round of Employment Support Scheme ("2022 ESS"). The purpose of the 2022 ESS to offer limited time financial support to small and medium-sized enterprises through providing wage subsidies to encourage enterprises to increase employment and to retain employees who would otherwise be made redundant.
Read moreIncreased penalty for employers who employ overstayers
Immigration (Amendment) Ordinance 2021 (“IAO”)
Read moreHong Kong's Legislative Council to consider Cancellation of MPF Offsetting
Under the Employment Ordinance, employers can offset long service payment or severance payment due to an employee against the employer's mandatory and voluntary contributions to the Mandatory Provident Fund (MPF), Hong Kong's pension system.
Read moreBalance on the board: Eight things UK PLCs need to know about the FCA's diversity targets
The Financial Conduct Authority's proposals will mean UK listed companies need to disclose whether their boards and senior management teams meet new gender and ethnic diversity targets.
Read moreTakeover Code: What has changed?
On 5 July 2021, the most significant changes to the Takeover Code (the Code) since 2011 took effect. The changes are intended to standardise the treatment of regulatory clearances and simplify the offer timetable. An overview of the main changes is set out below.
Read moreReimbursement of Maternity Leave Pay Scheme in Hong Kong
Hong Kong's statutory maternity leave has been extended from 10 weeks to 14 weeks with effect from 11 December 2020. From 1 April 2021, the Hong Kong Government has started accepting applications to reimburse employers' payment in respect of the extended period of maternity leave.
Read moreUK Listing Review wants companies to stay at home
Recommendations will make it easier to list and fundraise on the London Stock Exchange
Read moreCommercial Court cracks down on crypto-fraudsters (if it can find them)
In the first initial coin offering 'ICO' fraud case before the Commercial Court, Ion Science Limited & Duncan Johns v Persons Unknown & Ors, the court granted permission to serve disclosure orders on two cryptocurrency exchanges through which the claimants' stolen bitcoin had been traced, granted a world-wide freezing order against persons unknown, and gave ground-breaking guidance on the lex situs of crypto-assets.
Read moreTime for public companies to come clean: New UK climate-related disclosures and ESG guidance
Companies listed on the London Stock Exchange's Main Market will need to include a statement in their annual report confirming if they have made climate-related disclosures consistent with the recommendations of Task Force on Climate-related Financial Disclosures (TCFD). Companies planning to IPO, or move from AIM to the Main Market, are also affected by these new Listing Rules.
Read moreCOVID 19 Your workforce: What on earth is "furlough"?
Meaning of furlough, especially in the context of companies dealing with the impact of COVID-19.
Read moreCOVID-19 Your workforce: pay and costs - practical ideas our clients are exploring
COVID-19 Your workforce: pay and costs - practical ideas our clients are exploring. These are extraordinary times that place extraordinary pressures on all of us, including dealing with your workforce. We set out below some ideas that we are hearing about from our clients and some areas you may wish to think about in terms of your employee costs.
Read moreCOVID-19 Your workforce: supporting mental health when home working
COVID-19 Your workforce: supporting mental health when home working. Many of us are working from home during this crisis and while this can be an effective way of working for some, it is less happy for others; loneliness, caring for vulnerable dependants and challenging home environments are all being experienced. There may be members of your teams who fall into these categories.
Read moreCorporate failure to prevent tax evasion update – a policy is not enough
It is no secret that the government has a laser focus on making corporates pay for their roles in "facilitating" tax evasion. Recent figures show that HMRC are serious in their drive to hold companies responsible for tax evasion; even companies with seemingly watertight procedures are susceptible. Now is the time to ensure that your regimes are watertight.
Read moreCorrado – Tribunal cancels follower notice penalties
In Giulio Corrado v HMRC [2019] UKFTT 275 (TC), the First-tier Tribunal (FTT) has set aside a follower notice penalty as the taxpayer's failure to take corrective action in response to a follower notice was reasonable in all the circumstances.
Read more連載コラム・欧州Ｍ＆Ａ最前線＞12月・１月
2019年の幕開けは、東京と香港への出張で忙しくも生産的だった。ブレグジット問題の目まぐるしい展開は、やはり大きな話題となっていた。英国の誰もがそうだろうが、交渉がここまで遅れ、まだ合意が成り立っていないことに私も驚いている。（
Read more連載コラム・欧州Ｍ＆Ａ最前線2018年９月・10月
今月のテーマは電気自動車（ＥＶ）のための新規制だ。急速に進展するＥＶ産業のアドバイザーたちと業界トレンドについて話し合い、また伊藤忠商事がカーシェア・スタートアップ企業に投資するに当たり助言する中で、ＥＶ市場全般について考えたことを受け、このテーマを取り上げることにした。
Read more連載コラム・欧州Ｍ＆Ａ最前線＞2018年11月
クリスマスまであと数日。オフィスには、すでに休暇入りした同僚達の空席がちらほら見られる一方、年内に取引やプロジェクトを完了しようと奔走する姿も目立つ。クリスマスと元日の間には営業日が２、３日あるが、ロンドンの金融街シティーは空っぽだろう。（ナイジェル・コリンズ／Ｍ＆Ａ専門弁護士）
Read more連載コラム・欧州Ｍ＆Ａ最前線2018年８月
今月のコラムは、涼しい雨の東京で書いている。ここ1週間、ミーティング続きで忙しかったが、話題の中心はやはり英国の欧州連合（ＥＵ）離脱とそのＭ＆Ａへの影響だった。全般的に、ブレグジット交渉が完結するまでは、英国でのＭ＆Ａ取引の法的枠組みに変わりはない。
Read more＜連載コラム・欧州Ｍ＆Ａ最前線＞2018年７月
日本と違いロンドンでは気候が変わり、全般的にずいぶんと涼しくなった。この夏は長く異例の暑さったが、Ｍ＆Ａ市場もそれに負けない熱気を帯びた。当社各部門も多忙を極め、今なお次々とＭ＆Ａや投資の取引が成立している。今のところ、この活況は夏が終わっても続きそうな勢いだ。（ナイジェル・コリンズ／Ｍ＆Ａ専門弁護士）
Read more＜連載コラム・欧州Ｍ＆Ａ最前線＞2018年６月
サッカーのワールドカップ（Ｗ杯）で、イングランドと日本が共に見事な活躍を見せ、熱い感動を与えてくれた後、ロンドンで夏のきらめきを楽しんでいる。「もしあのとき…」という思いが胸を過ぎる。日本が後半戦の最後の10秒に、ベルギーを振り切っていたら。イングランドが前半で、クロアチアから奪った得点を守っていたら。日本の会社に例えるならば、千載一遇のチャンスを逃さないことが、ビジネスを成功に導くのだと思う。
Read moreRPC Retail Compass 2018 Summer Edition
Legal and policy changes affecting retail.
Read moreGood news for UK share sellers - capital gains tax relief relaxed
The UK's entrepreneurs' relief (ER), which is already a valuable tax relief for individual UK-resident sellers of trading companies, is about to become a little more generous.
Read more連載コラム● 欧州Ｍ＆Ａ最前線 2018年５月 ● 欧州連合（ＥＵ）営業秘密保護指令の施行により、背信行為を巡る訴訟が増加する見通しとなっている
ところで、欧州連合（ＥＵ）営業秘密保護指令の施行により、背信行為を巡る訴訟が増加する見通しとなっている。当社の同僚たちがこのほど、これについてまとめたので紹介する。 営業秘密保護の現状はどうなっているのか。
Read moreWhen can the Secretary of State intervene in a merger or acquisition?
This post sets out the circumstances in which the Secretary of State has been able to intervene in a merger or acquisition to date and looks at the ongoing consultation to protect national interests.
Read more連載コラム・欧州Ｍ＆Ａ最前線 2018年４月
今朝のロンドンは美しく晴れ渡っているが、私は剣道英代表チームとの２日間にわたる稽古のせいで体中が筋肉痛だ。それはともかく、今回のテーマは暗号通貨（クリプトカレンシー）。中でも、暗号通貨発行による資金調達に適用される規制について取り上げてみたい。
Read moreJapanese banks joining Softbank's $100bn Vision Fund
MUFG, Mizuho, and Sumitomo Mitsui Banking Corporation will be among the final investors in SoftBank's Vision Fund
Read moreHow hard is it to learn English?
As English is by far the number one language of business and politics, many non-native speakers have no choice but to overcome this challenge
Read moreLisbon, a near-shore hub for UK business
Hosting a meeting at Hitachi Consulting's offices in Lisbon
Read morePotentially largest ever Japan outbound deal
Takeda makes its 5th offer for Shire
Read moreJapan's Itochu to raise stake in FamilyMart to 50.1%
Itochu to spend $1.1bn for an 11.1 per cent premium in FamilyMart
Read more欧州Ｍ＆Ａ最前線 2018年２月
酷寒の東京と暖かい香港、蒸し暑いシンガポールを出張で回り、大勢のクライアントや関係者を訪ねて帰ってきたところだ。各地とも景況感は良く、フィンテック（金融とＩＴの融合）やインシュアテック、クリーンエナジー技術が投資先として人気を高めている。
Read morePE funds: Risks to LP limited liability status
One of the key attributes of an English limited partnership is that the general partner has unlimited liability for the debts and obligations of the limited partnership.
Read moreTransferring limited partnership interests
A limited partner may assign its interest in a limited partnership, subject to the general partner's consent and any contrary agreement between the limited partners.
Read more欧州Ｍ＆Ａ最前線 2017年９月
夏季休暇が明け、日常に戻ったロンドンの金融街シティーには、さまざまなプロジェクトを進めようという意欲と活気がみなぎっている。
Read more欧州Ｍ＆Ａ最前線 2017年８月
シンガポール、ハノイ、香港、東京を巡る出張から帰ってきた。クライアントや知人などいろんな人に会ったのだが、会えなかった人がいるのもいつものこと。こんな調子なので、さっそく次の出張の計画を立てた方がいいだろうか。
Read more欧州Ｍ＆Ａ最前線 2017年６月
ブレグジット交渉が始まり、与党・保守党と北アイルランドの民主統一党（ＤＵＰ）の閣外協力もやっとのことで決まった。
Read more欧州Ｍ＆Ａ最前線 2017年５月
市場とメディアは間もなく実施される英総選挙やトランプ米大統領提訴の可能性、先のサイバー攻撃の話題で持ち切りだが、英国では交渉中のＭ＆Ａ（企業の買収・合併）案件数が増えており、投資継続への意欲も高いように見える。これらの交渉の多くが実現するかは、時が経って初めて分かるだろう。
Read moreHigh Court criticises HMRC's conduct finding that it breached taxpayer's legitimate expectation
High Court criticises HMRC's conduct finding that it breached taxpayer's legitimate expectation
Read more