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HM Treasury is expected to publish legislation bringing stablecoins into the UK's regulatory perimeter imminently, following growing concern that the UK may be falling behind in this vital market. In this briefing we set out our views on what the legislation must address to avoid the industry being strangled at birth – with lasting impacts on growth and innovation in the UK.
In recent years, corporations have increasingly prioritised ESG issues, often prompting them to collaborate in pursuit of sustainability goals.
In Issue 8 of ThoughtLeaders4 Competition Magazine, Joseph Moore and Imogen Nolan discuss the Court of Appeal's decision in the Umbrella Interchange litigation regarding the law of limitation and its implications for competition claims in the UK post-Brexit.
With the first UK Labour Government since 2010 now firmly with their feet under the table, this is a good opportunity to take stock of how the Government is approaching national security reviews under the UK's National Security and Investment Act ("NSIA") regime.
The consumer law provisions of the Digital Markets, Competition and Consumers Act 2024 are expected to come into effect in April 2025. As well as new rules on pricing, fake reviews and subscription contracts, B2C businesses will face a much tougher enforcement regime – with the prospect of fines of up to 10% of global turnover. We explain how you can protect your business from the risks and even use the legislation to your advantage.
The Bank of England has now opened applications for its Contingent NBFI Repo Facility (CNRF). The facility will enable non-banks such as DB pension schemes, LDI funds and insurers to access cash following an increase in demand for liquidity during times of severe market stress.
The Court of Appeal in Kumar Limbu & Others v Dyson Technology Limited & Others [2024] EWCA Civ 1564 ("Limbu CoA") has overturned a High Court decision[1] which had declined jurisdiction to hear claims against members of the Dyson Group brought by 24 migrant workers from Nepal and Bangladesh. This means that the claim, which seeks to hold the Defendants liable for alleged forced labour practices and similar human rights abuses at the facilities of one of the Dyson Group's Malaysian suppliers, will now proceed in the English courts.
This article was first published in the January 2025 issue of Butterworths Journal of International Banking and Financial Law.
This article, authored by international secondee Pascal Urban from Gleiss Lutz, was first published in the January 2025 issue of Butterworths Journal of International Banking and Financial Law. The author thanks James Bell, Knowledge Counsel in the Finance Department at Travers Smith LLP, for his helpful assistance on this article.
Head of Derivatives & Structured Products Jonathan Gilmour, Partner Joseph Wren, Senior Associate Nicholas Baines and Associate Nick Morgan have authored a chapter on derivatives at fund level in the latest edition of Global Legal Insights' annual fund finance publication. This chapter highlights some key structuring and legal issues that should be considered by a private capital manager thinking about entering into derivatives transactions at fund level as part of its risk management or investment strategy.
Welcome to the January 2025 edition of our quarterly update for listed companies. If you would like to discuss any of these developments in further detail, please feel free to get in touch with any of the contacts listed at the end of this note.
Our New Year briefing, which discusses key developments for financial services firms in 2025, is available as a pdf below.
In case you missed it: Travers Smith recaps a dramatic year in the world of sustainability reporting.
When the UK's Modern Slavery Act (the "MSA") was introduced in 2015, it was considered world-leading, with the UK being one of the first countries in the world to mandate corporate reporting on modern slavery. Now, nearly 10 years on, the initial optimism appears to be waning.
An abridged version of this article was originally published in Artificial Lawyer here.
The UK's Walker Guidelines for Disclosure and Transparency in Private Equity (the "Guidelines") have been updated, and a feedback statement was published by the BVCA on 18 December 2024.
Jonathan Gilmour, Head of our Derivatives & Structured Products Group and member of the Governance Committee of the UK Voluntary Carbon Market (VCM) Forum, answers the team's most frequently asked questions surrounding VCMs and the potential implications for investors.
Travers Smith's Specialty and Structured Finance team were among the more than 1,200 registered delegates at DealCatalyst's ABSF Global Conference at the Royal Lancaster on Monday 25 November 2024.
This article was first published in GLI - Blockchain & Cryptocurrency Regulation 2025.