Expert Analysis

• UK Stock Exchange Changes Ease Path For Foreign Issuers

  

  Following the Financial Times Stock Exchange Russell's recent eligibility change aligning free float requirements for foreign and non-U.K. issuers, advisers to those considering a London listing should also assess index suitability, say lawyers at Debevoise.

• Darchem Ruling Clarifies Status Of JV Members' Solo Claims

  

  The High Court’s recent decision in Darchem Engineering v. Bouygues on whether individual members of an unincorporated joint venture can pursue claims against an employer provides a helpful road map for considering a JV's standing, and a reminder of the importance of contract construction, say lawyers at Squire Patton.

• Lessons From Spain's Decision Not To Enforce UK Judgment

  

  In a recent ruling, a Barcelona court refused to recognize a €365 million U.K. judgment against Cerberus Capital, showing that a foreign decision may be sound, final and enforceable in its own jurisdiction, yet still be refused entry where it threatens to displace a dispute already before the Spanish courts, says Josep Galvez at 4-5 Gray’s Inn Square.

• How New EU Third-Country Branch Rules Will Affect UK Banks

  

  The European Union's new directive on third-country branch rules for non-EU banks will have a significant impact on U.K. banks, which will no longer be permitted to provide core cross-border services into the EU without a local presence, unless an applicable exemption or carveout applies, say lawyers at Farrer & Co.

• CMA's 5-Point Plan Signals Shift In Enforcement Priorities

  

  The Competition and Markets Authority’s recently published annual plan is notable for a strong shift toward prioritizing U.K. enforcement of consumer protection laws, encouraging innovation and policing public procurement markets for anticompetitive conduct, which contrasts with previous plans that focused on competition in digital markets, complex merger review and sustainability, say lawyers at Cooley.

• Assessing The Significance Of Australia-EU's Free Trade Deal

  

  The recently concluded Australia-European Union free trade agreement could be a springboard for a more ambitious initiative bringing together the EU and the economies of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership, a critical mass capable of shaping norms across subsidies, sustainability disciplines and competition policy, says Alan Yanovich at Akin Gump.

• What CMA Blog Reveals About Pricing Collusion Scrutiny

  

  The Competition and Markets Authority's recent blog post announcing capabilities to screen for algorithmic collusion demonstrates that the regulator's concerns are crystallizing into enhanced investigative and enforcement actions, broadening the range of commercial arrangements at risk of antitrust scrutiny, say lawyers at Freshfields.

• What Brazil's Adequacy Status Will Mean For EU Data Flow

  

  The European Commission’s recent historic decision to grant full adequacy status to Brazil for personal data transfers removes a significant compliance burden for organizations and offers an opportunity to simplify transfer mechanisms, positioning Brazil as a major gateway for EU-Latin America data flows, say lawyers at Gibson Dunn.

• New Foreign Bribery Guide Can Help Int'l Cos. Identify Risks

  

  In light of growing global coordination on anti-bribery enforcement, the International Foreign Bribery Taskforce’s recent guide to foreign bribery indicators represents a step forward in the standardization of factors for evaluating corruption risks that multinational companies should consider, say lawyers at Paul Weiss.

• How UK Gov't Proposes To Streamline CMA Regime

  

  The Department for Business and Trade’s planned overhaul of the Competition Market Authority’s regime will introduce a series of targeted procedural changes aimed at improving efficiency and engagement, raising questions around procedural safeguards and jurisdictional thresholds, say lawyers at Baker Botts.

• EU Foreign Subsidies Guide Brings Clarity And Questions

  

  The European Commission’s long-awaited EU Foreign Subsidies Regulation guidelines provide helpful clarifications for companies, but with many areas remaining broadly framed, uncertainty may continue to deter investments and increase the compliance burden on organizations, say lawyers at Hogan Lovells.

• How FCA's Client Reforms May Boost Investment Access

  

  The Financial Conduct Authority’s recent proposals to reform the professional client categorization regime and simplify conflicts of interest rules are likely to be welcomed, although firms will need to navigate the increased responsibility that comes with greater flexibility, say lawyers at Skadden.

• UK Banks Are Favoring Tokenized Deposits Over Stablecoins

  

  Lloyds Banking's recent purchase of gilt with tokenized deposits is an example of banks' preference for the instrument over stablecoins, which present uncertainty by demanding compliance with multiple conduct regimes, says Dan Jones at MoFo.

• Irish Consumer Law Proposals Expose Concerns Over Privacy

  

  The Irish government’s recent proposals to amend and clarify competition and consumer law would allow new investigative powers and greater financial sanctions, leading to concerns from businesses whether the benefits outweigh the privacy risks, says Kate McKenna at Matheson.

• How EU Prospectus Rule Changes May Boost Market Access

  

  The European Union Listing Act’s forthcoming changes to EU prospectus requirements aim to reduce the regulatory burden for issuers of securities, facilitating more efficient transaction execution and reducing market risk, of particular relevance to small and midsize enterprises, say lawyers at Covington.