Expert Analysis

• How Russia Sanctions May Complicate Contract Obligations

  

  Against the backdrop of recent comprehensive sanctions against Russia and Belarus, a review of recent U.K. case law clarifies that certain force majeure clauses likely cover trade sanctions, and that future litigation will further develop the scope of force majeure and frustration in the context of sanctions, says Frances Jenkins at Quillon Law.

• New Guidance Offers Clarity For Charities On ESG Investing

  

  The need for charities to understand investing in line with environmental, social and governance aspirations has never been more pressing, and recently updated U.K. Charity Commission guidance should give trustees confidence to make decisions that are right for their organization, says Robert Nieri at Shoosmiths.

• US And EU Poised For Closer Ties In Tech Financial Market

  

  The Consumer Financial Protection Bureau and the European Commission are both concerned about the challenges posed by the increasing digitalization of financial products, such as the use of AI and new forms of credit, and by working together, the two regulators can share information and best practices, says Yulia Makarova at Cooley.

• FCA Case Failures Highlight Value Of Robust Investigation

  

  The recent U.K. upper tribunal judgment in Seiler, Whitestone and Raitzin v. The Financial Conduct Authority, criticizing the regulator for accepting a narrative advanced by the firm, makes clear that such admissions must not get in the way of a proper investigation to enable agencies to target the correct individuals, say Tom Bushnell and Olivia Dwan at Hickman & Rose.

• Reputation Management Lessons From Spacey Case

  

  While a U.K. jury recently acquitted actor Kevin Spacey of sexual assault charges, his reputation has been harmed, illustrating the importance for lawyers to balance a client's right to privacy with media engagement throughout the criminal process, says Jessica Welch at Simkins.

• Factors To Consider In Protecting Software With Trade Secrets

  

  With trade secrets protecting subject matter that would not otherwise be eligible for a patent now a mainstay of many multinationals’ intellectual property strategies, software developers have a number of considerations in deciding whether this is a viable alternative to protect their invention, says Dave Clark at Potter Clarkson.

• What ClientEarth Ruling Means For Shareholder Climate Suits

  

  The High Court recently confirmed its earlier decision in ClientEarth v. Shell, illustrating that environmental groups seeking to bring a derivative action against corporate directors' strategic decision making may find it challenging to obtain admissible evidence to establish a prima facie case of a breach, say lawyers at Herbert Smith.

• Directors Should Beware Reinvigorated UK Insolvency Service

  

  The recent lengthy disqualification of Carillion directors serves as a salutary lesson to executives on the level of third-party scrutiny to which their actions may be exposed, and a reminder that the directors’ fiduciary duty to creditors is paramount once a company is irretrievably insolvent, says Ben Drew at Fladgate.

• EU Privacy Plan Finally Resolves Data Transfer Woes

  

  Previous attempts by the European Commission to facilitate data transfers to the U.S. have been unsuccessful, but the recent EU-U.S. Data Privacy Framework may bring greater legal certainty through new control mechanisms and clearer supervisory authority functions, say Joaquín Muñoz and Robbie Morrison at Bird & Bird.

• The New Accountability Landscape For Financial Regulators

  

  The preliminary-stage success of a group of U.K. lawmakers in a case against the Financial Conduct Authority highlights the significant hurdles for review of regulatory actions, but the Financial Services and Markets Act 2023 creates additional visibility into the regulators' decision making, which may lead to an increase in judicial review activity, say attorneys at Cleary.

• Director Responsibilities Amid Russian Asset Seizures

  

  Following Russia's recent takeover of several companies, shareholders may argue that directors failed to properly guard the companies' assets and choose to bring derivative claims or unfair prejudice petitions, say lawyers at Collyer Bristow.

• Investors Should Prepare For Possible EU Energy Treaty Exit

  

  Following the European Commission’s recent call for the European Union and Euratom to withdraw from the Energy Charter Treaty, investors in the energy sector should assess the legal structure of their existing investments and consider restructuring to ensure adequate protections, says Philipp Kurek at Kirkland.

• EU Illumina-Grail Fine Cools Cos.' Merger Control Approach

  

  The European Commission's recent record-breaking fine on Illumina for acquiring Grail without approval underscores its tough stance on merger control enforcement, showing that companies in Europe need to be vigilant in complying with regulatory requirements, say Salomé Cisnal de Ugarte and Raphaël Fleischer at King & Spalding.

• EU Raw Materials Initiative Vital For Sustainable Value Chains

  

  The European Commission’s recent steps toward developing partnerships with the U.S. and Argentina to ensure a secure supply of critical raw materials are a welcome recognition of the importance of mining to the European Union's sustainable transition, say lawyers at Watson Farley.

• A Cross-Border Data Refresher After New EU-US Framework

  

  Following the recent release of an updated EU-U.S. Data Privacy Framework, Jack Hobaugh at Brownstein Hyatt discusses the complicated question of what is and is not a cross-border transfer of information under the EU General Data Protection Regulation.