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The Digital Markets, Competition and Consumer Bill has finally been put before the UK Parliament and is likely to become law in 2024. 

The highly anticipated Digital Markets, Competition and Consumers (DMCC) Bill was introduced to Parliament on 25 April 2023. Described by Sarah Cardell, CEO of the UK Competition and Markets Authority (CMA) as a "flagship bill" with the "potential to be a watershed moment", the Bill sets out far-reaching changes to the competition and consumer law regimes here in the UK, as well as a new ex ante regime for scrutiny of Big Tech.

In this week's issue of Alternative Insights, we are looking at the impact of the EU's new foreign subsidies regulation on private equity deals.

In November 2022, HM Treasury (HMT) published its response to the Solvency II consultation, setting out its final package for reforming the prudential regulation of the UK insurance sector. 

As part of the "Tax Administration and Maintenance Day" on 27 April, the Government has published a consultation setting out proposals for the reform of stamp duty/SDRT for shares and marketable securities.

Our regular round-up of recent and forthcoming developments in law and practice for in-house counsel.

Following a protracted consultation process, each of the EU and the UK has now finalised its revised requirements for trade reporting under the European Markets Infrastructure Regulation ("EMIR") following the revision of EMIR in 2019 ("EMIR Refit").

Travers Smith LLP has advised HSBC UK Bank (HSBC) on the financing of CBPE Capital's (CBPE) investment into accountancy firm Berg Kaprow Lewis (BKL).

As the world moves towards net zero, the development of new environmentally friendly technology is increasing in importance. The introduction of green tax incentives in the United States is beginning to impact where green tech developers locate their businesses and where investors spend their capital.

If you had an employee share plan or arrangement in the 2022/23 tax year, now is the time to start thinking about your annual reporting obligations.

Travers Smith is advising Numis Corporation Plc ('Numis') on their £410m recommended offer by Deutsche Bank AG ('Deutsche Bank'), the largest bank in Germany. The transaction was announced on 28 April and is subject to Numis shareholder approval and customary regulatory clearances.

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 2020, the UK outlined its roadmap to implementing the recommendations of the Taskforce on Climate-related Financial Disclosures ("TCFD"). With the first wave of premium listed companies already having prepared reports, the second wave will see standard listed companies, the largest asset managers and very large companies issuing TCFD reports or TCFD-aligned reports under the Companies Act this year. Smaller asset managers with over £5bn of assets under management will already be thinking about how to make their first firm-level reports next year.

In the recent case of Jonathan Hitchins and others v HMRC [2023] FTT 127 (TC), the First-Tier Tribunal (FTT) had to consider whether to require HMRC to close a long running enquiry.