Expert Analysis

• What 2025 Holds For UK, EU Restructuring And Insolvency

  

  European Union and U.K. restructuring developments in 2024, with a new era of director accountability, the use of cramdown tools and the emergence of aggressive liability management exercises, mean greater consideration of creditors' interests and earlier engagement in restructuring discussions can be expected this year, says Inga West at Ashurst.

• What To Know As EU Urges Outbound Investment Reviews

  

  A recent European Commission recommendation urges European Union member states to review outbound investments in certain critical technologies sectors, but does not clarify the next steps for states once information on relevant transactions in third countries is received, say lawyers at Cleary.

• Despite Divisive Political Rhetoric, DEI Is Alive And Well

  

  ​The World Economic Forum's recent finding that DEI initiatives have continued to rise amid political headwinds raises the question of whether reports of the death of DEI are exaggerated, especially as employers must focus on new pay gap reporting obligations in the U.K. and Europe, say lawyers at Herbert Smith Freehills.

• How GCs Can Protect Cos. From Geopolitical Headwinds

  

  Geopolitical uncertainty is perceived by corporate leaders as the biggest short-term threat to global business, but many of the potential crises are navigable if general counsel focus on what is being said about a company and what the company is doing, says Juliet Young at Schillings.

• Navigating PRA's Data Request For Crypto-Asset Exposure

  

  The Prudential Regulation Authority’s recent data request for details on financial institutions' crypto-asset exposures should be used as an opportunity for firms to update their compliance procedures, and consider the future use of crypto-assets and related services, says James Wickes at RPC.

• Key Points From FCA Financial Crime Guide Updates

  

  The Financial Conduct Authority’s recent updates to its financial crime guide reflect the regulator’s learnings on sanctions following Russia's invasion of Ukraine, highlighting and clarifying consumer duty, anti-money laundering and other compliance expectations, say lawyers at Womble Bond.

• Tax Directive Marks Milestone In Harmonizing EU System

  

  The Council of the European Union’s recently adopted tax directive is a significant step toward streamlining and modernizing procedures for member states, and will greatly reduce administrative burden and compliance costs for cross-border investors, says Martin Phelan at Simmons & Simmons.

• Why Nonfinancial Misconduct Should Be On Firms' Radar

  

  Following a recent Financial Conduct Authority survey showing an increase in nonfinancial misconduct, the regulator has made clear that it expects firms to have systems in place to identify and mitigate risks, says Charlotte Pope-Williams at 3 Hare Court.

• What New UK Code Of Conduct Will Mean For Directors

  

  The Institute of Directors’ new voluntary code of conduct is intended to help directors make better decisions and enable U.K. businesses to win back eroded public trust, although, with no formal means of enforcement, its effectiveness could be limited, says Sarah Turner at Eversheds Sutherland.

• Russian Bankruptcy Ruling Shows Importance Of Jurisdiction

  

  The U.K. Supreme Court's recent decision not to assist a Russian receiver in Kireeva v. Bedzhamov will be of particular interest in cross-border insolvency proceedings, where attention must be paid to assets outside the jurisdiction, and to creditors, who must consider carefully where to apply for a bankruptcy order, say lawyers at McDermott.

• Decoding Arbitral Disputes: UK Awards Versus EU Judgments

  

  The Court of Appeal of England and Wales' recent refusal to enforce a €855 million Spanish judgment inconsistent with earlier binding arbitral awards in England provides crucial guidance for practitioners navigating the complexities of cross-border disputes involving arbitration agreements and sovereign states, says Josep Galvez at 4-5 Gray's Inn.

• How Listing Act Measures Will Modernize EU Capital Markets

  

  The new European Union Listing Act, in line with the capital markets union initiative, aims to simplify market access for small and midsize enterprises, laying a foundation for a more integrated framework and representing a modernization milestone, say lawyers at Cleary.

• Insider Info Compliance Highlights From New FCA Guidance

  

  The Financial Conduct Authority's recent guidance to companies on identifying inside information clarifies the regulator's expectation of case-by-case assessment, helpfully highlighting that abuse of U.K.-regulated markets can arise earlier than some might think, say lawyers at Sullivan & Cromwell.

• A Look At PCAOB's Record-Breaking Enforcement In 2024

  

  The Public Company Accounting Oversight Board in 2024 brought more enforcement actions against auditors and imposed increasingly higher monetary penalties, showing that it was not afraid to exercise its power to fine and reprimand firms, a trend that will likely continue in 2025, say attorneys at Briglia Hundley.

• 2 Cases May Enlighten UK Funds' Securities Litigation Path

  

  Following recent nine-figure settlements in securities class actions against Apple and Under Armour, U.K. pension funds may increasingly lead U.S. shareholder derivative suits, advocating for transparency, better risk management and stronger governance practices, say lawyers at Labaton Keller.