Our knowledge resources reflect the breadth and depth of our expertise, our insight into the issues which matter to your business, and our understanding of the markets in which you operate.
In our new Talking. Secondaries. series, we will seek to demystify the secondaries and synthetic secondaries markets and provide insights into the variety of tools available to GPs when looking to provide liquidity to their limited partners and their portfolios.
In the aftermath of the Brexit referendum, the UK Government made a broad commitment not to reduce workers' rights – even though many supporters of Brexit often cited aspects of EU-derived employment law as prime examples of "unnecessary EU red tape".
In their recent "In Practice" article, What can a borrower do when a lender fails to fund?, Donald Lowe and James Bell examine market standard provisions designed to mitigate the risk posed by so called "Defaulting Lenders" and explore the options for a Borrower faced with a Lender that is unable to honour its lending commitments. This article was first published in the May 2023 issue of Butterworths Journal of International Banking and Financial Law.
In an environment where costs are increasingly unpredictable and escalating, pricing mechanisms based on cost plus a margin may seem an attractive option, at least for suppliers. But as we explain below, there are a number of pitfalls for the unwary – and it's vital to build in appropriate contractual protections.
HMRC have announced that the mechanism for calculating bonus rates for SAYE participants will change from August which is expected to result in a bonus being provided to new participants for the first time in nearly 10 years. If you are thinking of adopting a new SAYE plan or planning to issue invitations under your existing plan over the summer, this announcement could have an impact on your timetable and is something you should discuss with your legal advisers and savings provider.
On 24 May 2023, the European Commission unveiled its long-awaited Retail Investment Strategy, comprising a proposal for a Retail Investment Directive amending the UCITS Directive, AIFMD, MiFID and the Insurance Distribution Directive, and a proposal for a new Retail Investment Regulation amending the PRIIPS Regulation.
We are pleased to present the first edition of "Pensions De-risking", our periodical update on developments in the pensions de-risking marketplace. This first edition includes topical content on illiquid investments in the context of de-risking activity and links to other Travers Smith content on the increasingly recurring theme of pension scheme surpluses.
Ireland's Data Protection Commission (DPC) has published its decision following its inquiry into Meta Platforms Ireland's transfer of personal data from the EU/EEA to the US for Meta's Facebook service. The corrective steps it has ordered and €1.2 billion fine, the largest ever issued under GDPR, are a substantial, albeit expected, blow for Meta.
A regular briefing for the alternative asset management industry.
Travers Smith Tax Partner, Hannah Manning and Tax Senior Counsel, Elissavet Grout have authored an article published in the Solicitors Journal.
Key employment and business immigration developments for employers.
On 5 April 2023, the Commission launched a consultation on its draft of the long-awaited technical screening criteria ("TSC") for the four remaining Taxonomy objectives, sometimes known as "TAXO4"1. The TAXO4 TSC were initially intended to be in place by 1 January 2023, a year after the TSC for the first two environmental objectives, but have been significantly delayed. Therefore, the draft's publication finally provides a fuller picture of the Taxonomy and gives those with ambition to align to the remaining environmental objectives an idea of the scale of that task.
Now that the FCA has published its proposals for a radical overhaul of the listing regime, we take stock of the wider package of reforms affecting the UK listing, prospectus and secondary fundraising regimes. The reforms are aimed at making London a more attractive and trusted place to list and at striking a balance between achieving transparency and market integrity, whilst removing some of the complexities and key frictions that are often seen as too burdensome.
In its recent decision in McClean & Ors v Thornhill, the Court of Appeal found that a leading tax silk appointed to advise the promoter of three tax avoidance schemes did not owe a duty of care to investors, notwithstanding that the silk had consented to his advice being shared with the investors. The decision provides useful guidance as to the circumstances in which professionals, particularly legal professionals, may be found to have adopted a duty of care to prospective claimants by whom they have not been directly instructed.
In our new Talking. Secondaries. series, we will seek to demystify the secondaries and synthetic secondaries markets and provide insights into the variety of tools available to GPs when looking to provide liquidity to their limited partners and their portfolios.
Increased scrutiny of private equity investment is firmly on the radar of US antitrust enforcers. Both the Federal Trade Commission (FTC) and U.S.
At the start of the 2023/24 financial year, we focus on 5 focal points of interest to the real estate sector: regulatory change, updates to real estate taxation, some proposed changes to the planning regime, ongoing reform to construction law and some caselaw reports from real estate disputes.