By Jürg Schneider, Hugh Reeves On 6 September 2018 the Federal Council announced (in German, French, Italian and English) that it had adopted a new Digital Switzerland strategy for the next two years. The new strategy replaces the 2016 Digital Switzerland strategy and, like its predecessor, aims to prioritise the government’s efforts in the digital realm. Under […]
By Maurus Winzap, Robert Desax On 12 September 2018, the Swiss National Council (Lower House– Nationalrat – Conseil national) approved the revised version for a corporate tax reform (“Tax Proposal 17”). It is based on the Government’s proposal issued in March 2017 and on the version negotiated in the Upper House (Ständerat – Conseil des États) in […]
By Lukas Wyss In July 2017, BMW (Schweiz) AG closed a new public Swiss auto lease ABS transaction. The transaction features the issuance of €325m Class A Floating Rate Notes via BMW’s Luxembourg platform Bavarian Sky Europe S.A. (acting in respect of its Compartment Swiss Auto Leases 2). This was one of the first Swiss public […]
By Jürg Schneider, Hugh Reeves On 27 August 2018 the Federal Office for National Economic Supply (FONES) published the Minimum Standard for Improving ICT Resilience (minimum ICT standard), together with a self-assessment tool. Compliance with this standard should allow organisations to successfully fend off cyberattacks and mitigate cyber-risks. The minimum ICT standard primarily targets critical infrastructure providers […]
By Lukas Wyss, Walder Wyss Ltd. The legislative process towards passing the new FinSA and FinIA kicked off in November 2015. The FinSA and FinIA will create uniform competitive conditions for financial intermediaries and improve client protection. The acts shall further promote competitiveness of the Swiss financial centre and, by creating a level playing field, competitive […]
By Richard Sagar, Karl Anders, Graham Whiteford, Josh Kitson Introduction This briefing note, prepared by the Walker Morris Planning Environment Team, explores the opportunities presented in the new National Planning Policy Framework (“NPPF2“). Specifically, the opportunities to obtain planning permission for new entry-level exception sites consisting of affordable housing for first-time buyers on previously unallocated […]
By Paul Gair The FCA yesterday released its policy statement (PS18/21) on SME access to the Financial Ombudsman Service (FOS), setting out its near-final rules for amending the compulsory jurisdiction to include new definitions for “small businesses” and “guarantors”. At the same time, it has released a new consultation paper (CP18/31) detailing proposals for increasing […]
The Dutch government published important tax measures in its 2019 budget proposals with a potentially significant impact on the Dutch real estate industry. Some of these measures may result in a higher effective tax burden if appropriate action is not taken…
By Louise Power, Rachel Elgar Banking & Finance Litigation specialists Louise Power and Rachel Elgar report on the Payment Systems Regulator’s (PSR) recent proposals for dealing with push payment fraud. What is push payment fraud? Payments are described as ‘push payments’ when the payer obtains the payee’s account details and instructs their bank to send (or push) […]
The Dutch government published important tax measures in its 2019 budget proposals with a potentially significant impact on the Dutch buyout sector. Some of these measures may result in a higher effective tax burden if appropriate action is not taken…
Reed Smith has launched a London investment funds practice with the hire of former Nabarro partner and barrister Dale Gabbert. Gabbert, who joins as a partner, will bring with him associates Winston Penhall and Matthew Pitman. He will advise funds including private equity, property and hedge funds on investment management, corporate and regulatory issues. Reed […]
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Corporate duo Mark Soundy and Sarah Priestley are leaving Goodwin Procter after a two year stint at the firm, The Lawyer understands, just days after the US firm lost a tax partner to Greenberg Traurig.
The withdrawal of Robert Tchenguiz’s accusations against the accountancy firm Grant Thornton and a number of other businesses will cost the property mogul nearly £24m as a result of a High Court judgment passed down yesterday. Mr Justice Robin Knowles ordered Tchenguiz to pay £11.2m to Travers Smith client Jóhannes Jóhannsson of the collapsed Icelandic bank […]
Weeks after the announcement of Nigel Boardman’s impending retirement next April, it can be revealed that another Slaughter and May stalwart is also due to hang up his boots this year. Corporate M&A partner William Underhill will bow out of the firm this December after 28 years in the firm’s partnership. He joined the firm […]
Baker McKenzie is set to open its third support centre in Florida as it kickstarts a business services overhaul. The service roles that will be based in Tampa, Florida, include legal services, finance, IT, knowledge management, operations, business development, marketing and communications, and talent. The new office is expected to employ 300 people and will […]
Nearly a year since it hired Freshfields’ David Higgins to bolster its corporate offering in London, Kirkland & Ellis is to bring in two Linklaters partners to spearhead its move into the Paris market.