2020 was a year to remember in many ways and not for the best reasons, but from an energy standpoint, there was one encouraging statistic to emerge.
Last week the Government has announced an “arsenal” of planned reforms to boost competition and enhance consumer rights. The proposals, which are set out in the consultation paper Reforming Competition and Consumer Policy, cover three areas: competition policy; consumer rights; and consumer law enforcement. The ambitious reforms “seize the opportunity of the UK being able to chart its own way” post-Brexit and deliver on the ambitions set out in both the 2018 Consumer Green Paper and the more recent Penrose report on competition policy.
Modular construction is increasingly viewed as part of the solution to improve both the affordability and sustainability of housing. But whether it is being used for bathroom pods or entire homes, developers do need to mitigate against certain risks – notably that of a modular manufacturer going into administration. On a basic level, this means undertaking due diligence and investigating the finances, reputation and stability of a modular manufacturer. This approach can only take you so far, however, and is far from failproof.
In July last year, the Chancellor asked the Office of Tax Simplification (OT) to review capital gains tax (CGT). The aim was to “identify opportunities relating to administrative and technical issues as well as areas where the present rules can distort behaviour or do not meet their policy intent”. Following its review, the OTS published its first report in November 2020. Named “Simplifying by design”, it considered the policy design and principles underpinning CGT. In May this year, the OTS published its second report, “Simplifying practical, technical and administrative issues”. We’re focusing on this report throughout this article, in particular, its section on deferred proceeds.
Although this summer sees the lifting of lockdown restrictions across the UK, the re-opening of workplaces does not automatically signal a return to ‘business as usual’. In this briefing, we bring you up to speed on the key issues and latest developments on working life and Covid-19.
1. Pan-Channel Islands developments 1.1 Economic substance regime now extended to partnerships 1.2 The International Stock Exchange reports a record number of Q1 listings 2. Jersey developments 2.1 Self-managed funds must satisfy the economic substance test – Taxation (Companies – Economic Substance) (Amendment No. 2) (Jersey) Law 2021 2.2 Changes made to Funds Business fee rates 2.3 Disclosure requirements for sustainable investment aim to combat greenwashing 2.4 Duty of supervisory body to use a risk-based approach 2.5 Investment in lawful cannabis industry is now permitted 2.6 First quarter fund statistics 3. Guernsey developments 3.1 Revisions to Private Investment Fund rules 3.2 Three new consultation papers on the Revision of Laws Project 3.3 De-regulation of Non-Guernsey Scheme regime 3.4 First quarter investment statistics 3.5 Finance sector code of corporate governance
In its policy statement PS19/22, “Guidance on crypto-assets”, the Financial Conduct Authority divided crypto-assets into “three broad categories”: exchange tokens, utility tokens and security tokens.
With Hawk-Eye in tennis, Hot Spot in cricket and pass completion percentages in football, 18 months into a global pandemic, it was inevitable that sports have continued to invest in artificial intelligence (AI) to enhance live experiences for its fans.
Switching a document management system (DMS) can feel a lot like taking on Mt Everest. And while the change process is not for the faint of heart, the dividends it pays can place you—and your firm—on top of the world.
In the 1940s writer and futurologist Isaac Asimov laid down his Three Laws of Robotics. We say it’s time for lawyers to do the same. A flourishing future is ours for the taking, provided we know how to grasp it.
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Eversheds has benefited from the Government’s levelling up agenda, particularly Network Rail’s infrastructure projects.
Lawyers need to be aware of ESG if they hope to keep the business of the biggest funds
The move to get lawyers commuting back into the office will cut the billable hour
Goodwin has been building its Munich offering, but is still some way off the established firms
UK firms outperform their US counterparts when it comes to working parents
The demographic of Hong Kong’s partners is shifting
White & Case is adding a new high yield partner to its German ranks, this time by taking on a specialist from Cravath Swaine & Moore. The US firm has picked up Yannick Adler, who is European counsel in Cravath’s London office. As part of the move, he will become partner in the firm’s Frankfurt […]
Clyde & Co’s global turnover increased to nearly £640m over 2020/21, while profits rebounded after dipping the previous financial year. Revenue was up two per cent from £627m to £639.6m, marking the firm’s 23rd consecutive year of growth. Growth is slightly muted compared to the 2019/20 financial year, when turnover increased by three per cent. […]
Dechert has joined the ever-growing roster of firms advising on Morrisons’ takeover swoop, acting for GIC on its own bid for the supermarket giant. The US firm is advising the Singaporean sovereign wealth fund as it announced it has joined the consortium aiming to buy the British supermarket Morrisons. GIC is now part of the […]
Mishcon de Reya and one of its former lawyers are to appear before the Solicitors Disciplinary Tribunal after the regulator decided the matter should be referred. The allegations are against the firm and former head of sport and later consultant Liz Ellen. She spent more than fifteen years at the firm before leaving last year […]
Offshore firms seem to have sailed through the pandemic and will be ideally placed as economies start to grow again
As exponential growth of technology consumes the world, the legal industry is having to move fast to keep up. The Lawyer and cloud-based document management solution Conga gathered seven in-house lawyers as part of The Lawyer In-house Financial Services conference to discuss legal automation transformation. The roundtable was moderated by Conga’s director of sales engineering […]
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