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11 June 2019
Product Intervention Powers and Design and Distribution Obligations in Financial Services: A cross-border perspective
Many regulators view their ability to intervene as one of their key supervisory tools to reduce harm in cases where there is a risk of significant consumer detriment or threat to financial markets.
12 March 2019
Latest Shake-up of the Remuneration Provisions for Banks and Investment Firms Part 2: Banks and credit institutions
After over two years of debate, agreement has finally been reached on the proposed directive amending the Capital Requirements Directive (which is generally being titled CRD5 ), and the European Council has published its final text. As detailed in our previous briefing ( Part 1 ), however, the...
11 March 2019
Latest Shake-up of the Remuneration Provisions for Banks and Investment Firms Part 1: Investment Firms
Agreement has now been reached between the European Parliament, the Commission and the Council on the final texts of two Directives which will impact on the remuneration provisions which apply to banks and investment firms. The first is the Investment Firms Directive ( IFD ), which will introduce a...
25 October 2018
Asia-Pacific Restructuring Review 2019
The Asia-Pacific Restructuring Review 2019 provides exclusive insight from local practitioners in 10 different Asia-Pacific jurisdictions. Herbert Smith Freehills and Hiswara Bunjamin & Tandjung authored the Australian and Indonesian chapters (respectively) for the Asia-Pacific Restructuring...
21 September 2018
European Private Equity Review, Autumn 2018 Edition
The Herbert Smith Freehills European Private Equity Review highlights legal developments of particular significance for European financial sponsors and shares our experience of trends across the European private equity landscape and opportunities for growth.
01 August 2018
Indonesia’s foreign investment regime liberalised by new OSS system
In its efforts to encourage and accelerate investment, the Indonesian government has issued a set of regulations reforming existing business licence regulations and establishing an online one-stop business licensing system known as Online Single Submission (“ OSS ”). We believe this represents a...
09 July 2018
Comments on UK proposal for the future relationship with the EU
Last Friday, 6 July, it was understood that the UK Cabinet had finally united around a UK position on the desired future relationship with the EU. However, it now remains to be seen if the proposal survives the protests of “betrayal” heard from some quarters and the resignations of the Secretary of...
03 July 2018
Australia’s new ipso facto regime is now live: Are your contractual rights affected?
Australia’s new ipso facto regime is now in effect. It stays the enforcement of contractual rights triggered upon the entry of a corporate counterparty into certain restructuring and insolvency processes. The regime will affect a broad range of contracts entered into on or after 1 July 2018;...
21 May 2018
Middle East anti-corruption regulations legal guide 2018
The Middle East region presents various anti-corruption challenges for businesses. These include difficulty in identifying politically exposed persons, prevalence of intermediaries in the conduct of business relationships and a widespread difficulty in accessing company ownership and financial...
17 April 2018
Ipso facto law reform: public consultation commences on exceptions to the stay
On 16 April 2018, the Australian Federal Government ( Government ) launched a public consultation on proposed exceptions to the recently enacted stay on ipso facto clauses. These exceptions, which will be contained in a forthcoming declaration and regulations, will be critical to the operation of...
28 February 2018
Getting back to Bis-ness: Ground-breaking use of creditors’ schemes effects A$1.2 billion restructuring
Bis Industries’ ground-breaking creditors’ schemes of arrangement facilitated the restructure of A$1.2 billion of debt and transferred ownership of the Bis Industries group to its lenders.
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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
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...
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.
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
COVID-19: Pressure Points: The Global Impact on the Mining Industry
Note: This resource has been updated on 26 May 2020 to include the US (Federal and the States of New York, California and Texas) and reflect recent developments in Australia and Peru. The COVID-19 pandemic is an unprecedented humanitarian and economic crisis. The mining industry has sought to...
27 May 2020
The View From Brussels: The negotiation of the Future Partnership between the EU and the UK
Negotiations on the Future Partnership between the UK and the EU have progressed through three rounds – held by video conference rather than face-to face given the current circumstances. According to the press-conferences, and in particular the introductory statement of the EU negotiator at the end...
27 May 2020
Tax Treaty Interpretation: The Limits of Fiction
In Fowler v HMRC [2020] 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.
