15 May 2020
Regulators set their policy for Consumer Data Right enforcement
The Consumer Data Right ( CDR ) is currently proceeding through a staged implementation in the financial sector. On 8 May 2020 the Australian Competition and Consumer Commission ( ACCC ) and the Office of the Australian Information Commissioner ( OAIC ) released their Compliance and Enforcement...
13 May 2020
Low oil price - high disputes risk: The scope for disputes in a world of low oil prices
Oil prices have recently reached historic lows. Oil companies are faced with a number of potential legal issues as low oil prices impact their trading and operational agreements. In this briefing we consider some of the key issues triggered by the current low oil price environment.
13 May 2020
A Special, Global, Edition of the European Energy Handbook
We are delighted to present an update to our European Energy Handbook. The European Energy Handbook usually reports on regulatory, legal and market developments in the European energy sector. However, these are not usual times as the COVID-19 pandemic is creating significant health, social and...
21 April 2020
COVID-19 PRESSURE POINTS: THE OPEC+ DEAL AND ITS IMPACT (GLOBAL)
Reduced demand for oil as a result of the COVID-19 pandemic and the oversupply caused by the oil price war has put increased pressure on the oil industry. The OPEC+ deal reached on 12 April 2020 is intended to address these pressures by rebalancing the market. Below, we share our insights on the...
20 March 2020
COVID-19: Pressure Points: Measures adopted by the Spanish Government for the energy sector (Spain)
In recent days the Spanish Government has approved a series of provisions to tackle the crisis caused by the COVID-19 outbreak. Those provisions adopt a set of measures that have differing impact on a number of business sectors.
10 March 2020
Yes Minister - Proposed New powers to derogate from the NER
The National Electricity (Victoria) Amendment Bill 2020 ( Bill ) introduced by the Victorian Government on 18 February seeks to make it easier for the Minister to derogate from the National Electricity Rules ( NER ). So how will the Minister use their proposed new powers?
03 March 2020
Directors walking tightrope on ESG disclosure
In the context of BlackRock’s climate ‘epiphany’ last month, as well as clear indications from significant fund managers such as Sir Christopher Hohn’s TCI Funds Management that they will be taking more overtly activist steps to catalyse climate action in future, listed company boards have never...
20 February 2020
Consumer Data Right: 2020 Update
Following extensive activity around the Consumer Data Right (CDR) throughout 2019, the Australian Competition and Consumer Commission (ACCC) advised in December 2019 that the CDR roll-out in respect of the banking sector would be delayed due to incomplete system testing. As a result, the first...
18 February 2020
Covid-19: Governance: Insurance losses and considerations for policyholders (Australia)
The various restrictions being put in place to contain the spread of COVID-19 are causing significant disruption to supply chain logistics for businesses all over the world. Many Australian policyholders are asking: can the adverse financial consequences of the interruption be claimed on insurance...
06 February 2020
Australian privacy law reform and review announced
On 12 December 2019, the Australian Government announced its response to the Australian Competition & Consumer Commission’s ( ACCC ) Digital Platform Inquiry. Despite the Inquiry’s name, only 1 of the 11 recommendations in the report about data practices is targeted at digital platforms.
29 January 2020
Is US government inaction on climate change a breach of the constitution?
A United States court has recently been asked to consider whether the federal government’s inaction in relation to climate change breaches the United States constitution. The court (by a majority of two to one) reluctantly found that they did not have jurisdiction to order the government to redress...
21 January 2020
The new environment for climate change litigation
The Dutch Supreme Court (the Court ) has recently affirmed a decision of the District Court to issue an order directing the State of the Netherlands to reduce it's greenhouse gas emissions by the end of 2020 by at least 25% of the emissions as at 1990. The order issued by the District Court now...
07 September 2020
London International Disputes Week 2020
We are pleased to announce that London International Disputes Week (LIDW) is returning for a second year in September 2020. Herbert Smith Freehills is proud to be associated with this key event, which celebrates London as a global centre for dispute resolution. 7 – 11 September 2020 For more...
01 June 2020
COVID-19: Pressure points: Workplace pensions – 4 cost saving steps for employers (UK)
As the economic impact of Covid-19 and the measures introduced to restrict its spread continues to be felt, many employers are inevitably looking for ways to reduce costs and preserve cash. As far as pensions are concerned, the primary focus to date has been on the scope for employers with defined...
29 May 2020
COVID-19: Pressure Points: Summary of Key Support And Guidance for Charities and Social Enterprises (UK)
This note sets out a high-level summary of key announcements regarding funding, support, and guidance available for social enterprises and charities as of 29 May 2020. Please note that changes and announcements are made regularly; updates should be monitored on an ongoing basis.
29 May 2020
Clearer guidance provided: the takeovers panel’s new equity derivatives guidance note
The Takeovers Panel has finally issued its updated guidance on the public disclosure of equity derivatives. This update guidance was published almost a year to the day after the Panel’s public consultation process closed. This article outlines what has changed.
29 May 2020
HKMA publishes report on bank culture self-assessment
On 22 May 2020, the Hong Kong Monetary Authority ( HKMA ) published a report on its review of self-assessments on bank culture. This is part of the HKMA’s bank culture reform supervisory measures, where 30 authorised institutions ( AIs ) were selected in the initial phase to conduct self-...
29 May 2020
COVID-19 exposes M&A risks
Each time our markets experience a major downturn we see bidders trying to extricate themselves from previously announced transactions. If there is a breach of a bid condition, this may be possible, but it typically gives rise to disputes and uncertainty, particularly if the bidder is proceeding...
28 May 2020
COVID-19: People: Post-lockdown issues for employers (UK)
On 11 May 2020 the UK Government published its roadmap for coming out of lockdown, providing for a (conditional) phased return of schools and businesses over the coming months and subject to continuing social distancing requirements. Employers who shut down or reduced their operations at the start...
28 May 2020
ПРАВОВОЕ РЕГУЛИРОВАНИЕ ВТОРИЧНОГО РЫНКА СИНДИЦИРОВАННОГО КРЕДИТОВАНИЯ ПО РОССИЙСКОМУ ПРАВУ
Правовое регулирование вторичного рынка синдицированного кредитования играет важную роль в создании условий для привлечения на вторичный рынок максимального количества участников и, соответственно, развития российской банковской системы и экономики России в целом.
27 May 2020
Tax Treaty Interpretation: The Limits of Fiction
In Fowler v HMRC  UKSC 22, the Supreme Court determined that a statutory fiction created by a deeming provision of UK tax law did not affect how the terms of a bilateral tax treaty should be applied. In particular, the Supreme Court held that although the UK deeming provision in question...
27 May 2020
COVID-19: Governance: Changes to UK insolvency law undermine position of DB schemes and the PPF (UK)
The Government on 20 May 2020 published the Corporate Insolvency and Governance Bill , which contains the most far-reaching reforms to UK insolvency law in over 30 years. The Bill has been introduced on an emergency basis in an attempt to ensure that otherwise financially viable companies survive...
27 May 2020
COVID-19: Pressure Points: Opportunities to acquire IP assets in a changing world (Global)
As governments around the world take the first tentative steps to ease lockdown measures, people and businesses are beginning to focus on a return to work or at least a resumption of more normal business processes. However, it is clear that a large number of businesses, sadly, will not survive in...
27 May 2020
COVID-19: Pressure Points: Sector update: Infraestructuras y Contratación pública nº 1 Mayo 2020 (Spain)
Bienvenido a la primera edición de nuestro update de infraestructuras y contratación pública. Aquí encontrarás algunas de las principales novedades más destacadas del sector. Esperamos que te sea de utilidad.