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UK Expert Analysis


What Gov't Report Tells Lawyers About Continuing AML Risks

The U.K. government’s recent national money laundering risk assessment maintains conveyancing, company service work and misuse of client accounts as key threats, underscoring that law firms should expect renewed scrutiny and higher expectations in these high-risk areas, says Harriet Holmes at Thirdfort.


IP Considerations As UK Maintains Exhaustion Regime

The U.K. government's decision to keep its existing regime of exhaustion of intellectual property rights means IP owners should review their existing and new European distribution agreements to account for the different regimes in the U.K. and European Union, says Rebecca Anderson-Smith at Mewburn Ellis.


Russia Sanctions Spotlight: Strengthening Enforcement

The Office of Financial Sanctions Implementation’s proposed changes to its enforcement process by increasing monetary penalties, and introducing schemes to encourage cooperation, suggest that businesses should expect an expansion of financial sanctions enforcement, says Alexandra Melia at Steptoe.


Petrofac Ruling Shifts Focus To Fairness In Restructurings

The recent Court of Appeal overturning of Petrofac's restructuring plans demonstrates a change of direction that will allow previously ignored out-of-the-money creditors a share in the benefits, and means companies must review the fair treatment of different creditor classes, say lawyers at King & Spalding.


Europe's New Defense Push Creates Investment Prospects

Recent increases in European defense expenditure and governments' desire to innovate are creating a compelling environment for investment and merger and acquisition activity, especially for small and midsize enterprises at the forefront of emerging technologies, say lawyers at Skadden.


Decoding Arbitral Disputes: A Battle For Arbitral Voice

The English Commercial Court's recent decision in Republic of India v. CC/Devas, although procedural in form, reflects a significant chapter in the ongoing struggle between arbitral autonomy and sovereign intervention, says Josep Galvez at 4-5 Gray's Inn Square Chambers.


Key Considerations For Issuers In FCA Prospectus Reform

The Financial Conduct Authority’s forthcoming reform of the U.K. prospectus regime should be attractive to both debt and equity issuers because it limits the circumstances in which a costly prospectus is required, making it easier and cheaper for listed companies to raise capital, say lawyers at Sullivan & Cromwell.


What EU GPAI Compliance Code Will Mean For Developers

The European Union recently released a code of practice to guide compliance for general purpose artificial intelligence models, offering early adopters regulatory deference, but posing timing concerns and significant costs burdens that may discourage smaller developers, say lawyers at Perkins Coie.


How Top Court Ruling Limits Scope Of Motor Finance Claims

The U.K. Supreme Court’s recent ruling in a landmark case concerning car finance commissions clarifies when and how a dealership’s fiduciary duties arise, considerably narrowing that path for mass consumer litigation and highlighting how an upcoming Financial Conduct Authority redress scheme will seek to balance consumer, lender and market interests, say lawyers at Cadwalader.


FCA Misconduct Guide Will Expand Firms' Duty To Investigate

The Financial Conduct Authority's recent proposals on workplace nonfinancial misconduct will place a greater onus on compliance and investigations teams, clarifying that the question to ascertain is whether the behavior is justifiable and proportionate, say lawyers at Ashurst.


Lessons From Landmark UK Supreme Court Libor Ruling

The U.K. Supreme Court’s recent quashing of former traders Hayes and Palombo’s interest rate rigging convictions on the ground of jury misdirection raises concerns about failings in the criminal appeal process, and whether encouraging institutions to accept regulatory settlements can create conditions for miscarriages of justice, says Ellen Gallagher at Vardags.


Mansion House Speech Heralds New Financial Regulatory Era

The chancellor of the exchequer's recent Mansion House speech introduced a sweeping commitment to modernize regulation, which will require U.K. retail banks and building societies to revisit core assumptions, and allow lawyers to play a key role in shaping the new rules, say lawyers at Addleshaw Goddard.


SRA Ruling Raises Issue Of Jurisdiction Over Private Conduct

The recent Solicitors Disciplinary Tribunal ruling, suspending a former Orrick associate after determining that a criminal offense of nonconsensual touching had occurred, serves as a cautionary tale that the regulator's jurisdiction may extend into private social settings, even where no abuse of power is proven, says Nick Brett at Brett Wilson.


Challenges For Managers In Navigating Continuation Funds

With continuation vehicles becoming an increasingly popular alternative to traditional private equity investment exit routes, managers and lenders should be confident that they understand a transaction’s structure and how it interacts with existing debt arrangements, says Jason Larkins at Travers Smith.


The Int'l Compliance View: Everything Everywhere All At Once

Changes to the enforcement landscape in the U.S. and abroad shift the risks and incentives for global compliance programs, creating a race against the clock for companies to deploy investigative resources across worldwide operations, say attorneys at Dentons.


Why Leveson Review Is Significant For UK Court System

Brian Leveson’s recent review into the U.K. criminal justice system calls for judge-only trials in serious and complex fraud cases, a controversial recommendation that is sparking debate over the future of jury trials, says Louise Hodges at Kingsley Napley.


EPO Ruling On Claim Interpretation Will Have Broad Impact

The European Patent Office Enlarged Board of Appeal’s recent decision, finding that the description and drawings in a patent should always be consulted to interpret claims, will fundamentally change how the EPO interprets patent claims in both examination and opposition proceedings, say lawyers at Finnegan.


Series

Practice Leader Insights From V&E's Ben Higson

Ben Higson, head of Vinson & Elkins' London transactions practice, discusses the complexities of knitting together businesses across the world into a joint venture, how warranty and indemnity insurance has altered the way deals are conducted, and why discipline and resilience are key for M&A lawyers.


Key Points From EU Proposals To Ease Securitization Rules

The European Commission’s recently proposed securitization framework amendments aim to relax existing rules, such as by reducing due diligence requirements and removing the need for investors to conduct certain prescribed compliance verifications by sponsors or original lenders, say lawyers at McDermott.


Challenges Law Firms Face In Recruiting Competitor Teams

Since the movement of lawyer teams from a competitor can bring legal considerations and commercial risks into play, both the target and recruiting firms should be familiar with the relevant limited liability partnership deed to protect their business, say lawyers at Fox & Partners.



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Special Series


Practice Leader Insights

In this À¶Ý®ÊÓÆµ U.K. Expert Analysis series, leaders of employment, intellectual property, insurance and transactions practice groups share thoughts on keeping the pulse on legal trends, tackling difficult cases and what it takes to make a mark in their area.




Opinion


UK Court Of Appeal's FRAND Ruling Is Troubling

The U.K. Court of Appeal's recent decision in Optis v. Apple disregards a lower court's extensive factual findings and contradicts its own precedent regarding fair, reasonable and nondiscriminatory terms for cellular patents, says Enrico Bonadio at the University of London.

UK Gov't Needs To Take Action To Support Whistleblowing Bill

With a proposed Office of the Whistleblower Bill making its way through the U.K. Parliament, whistleblowing is starting to receive the attention it deserves, but the key to unlocking real change is for the government to take ownership of reform proposals and appoint an overarching whistleblowing champion, says Baroness Susan Kramer at the House of Lords.