Latest Briefings

High Court analyses compensation order regime under the CDDA accounting

The compensation order regime Compensation orders aim to make directors financially accountable for the consequences of their unfit conduct. They were introduced in October 2015 by the Small Business, Enterprise and Employment Act 2015 which amended the Company Directors Disqualification Act 1986 (CDDA). Under the new regime, the Insolvency Service can apply to court (on […]

FINMA approves SIX and BX as Prospectus Offices

Market Supervisory Authority (FINMA) has approved SIX Exchange Regulation AG and BX Swiss AG to act as Prospectus Offices as from June 1st, 2020. Their appointment represents a major step in the implementation of the new Swiss prospectus regime. As a consequence, the new Swiss prospectus requirements will be mandatory and offering as well as listing prospectuses will generally require approval by one of the Prospectus Offices as from December 1st, 2020. This newsletter outlines the regulatory implications and proceedings of the new statutory prospectus review.

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Nortel and Lehman Brothers case on FSDs decided — a workable way forward

By Heather Chandler The case involved two groups (the Nortel group and the Lehman group) each of which contained occupational pension schemes with substantial funding deficits. The Pensions Regulator (PR) had issued financial support directions (FSDs) to the group companies, in both cases following the placement of the group into administration. An FSD is a […]

Lloyd

Moves 29 July

Move of the week Former Herbert Smith Freehills partner Kevin Lloyd has joined Debevoise & Plimpton as a partner. Lloyd, a senior partner in the commercial litigation group, began his career at Herbert Smith before joining Mallesons Stephen Jaques in 1988, where he was named a partner in 1990. He rejoined Herbert Smith in 1999 […]

Greenhouse gas reporting: what you need to know

Under section 417 of the Companies Act 2006 all companies (unless entitled to the small companies exemption) must prepare a ‘business review’. This must contain a fair review of the company’s business and a description of the principal risks and uncertainties facing the company. In the case of a quoted company (broadly meaning an Officially […]

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