Related briefings

Impact of FCA’s Business Plan on payments

As part of its 2021/22 Business Plan, published on 15 July, the FCA has stated that making payments safe and accessible is one of its four “consumer priorities” for the coming year.

BEIS and CMA step up consumer protection agenda

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.

Making the most of modular contracts

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.

Latest Briefings

The sustainability of green financing

Maples Group acted for Xiaomi Corporation in connection with Xiaomi’s offering of US$800,000,000 2.875% Senior Bonds Due 2031 and US$400,000,000 4.100% Senior Green Bonds Due 2051 issued by Xiaomi Best Time International Limited, incorporated in Hong Kong and unconditionally and irrevocably guaranteed by Xiaomi Corporation, a company controlled through weighted voting rights and incorporated in the Cayman Islands and listed on the Hong Kong Stock Exchange. The green bonds offering marked Xiaomi’s initial foray into the world of green financing and more broadly Environmental, Social and Governance (ESG). The proceeds of the green bonds are earmarked for ‘Eligible Projects’ within Xiaomi’s finance framework aimed at positive environmental and social benefits. Their framework follows the green bonds and loan guidelines of the International Capital Markets Association.

Guernsey consolidates economic substance and extends it to partnerships

Guernsey has brought partnerships into scope of economic substance requirements for accounting periods commencing on or after 1 January 2022, although partnerships formed on or after 1 July 2021 will be in scope immediately on formation where they conduct activities that trigger the economic substance requirements.

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Osborne Clarke cuts partner monthly draws and staff pay

UK partners at Osborne Clarke have been subject to further reductions in pay, while staff are also in line for a cut in their salary. The measure, which will be in place starting in June for 11 months, adds itself to the existing deferral of 75 per cent of their quarterly profit distributions. In addition, […]

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