On April 29, 2021, the United Kingdom adopted the National Security and Investment Act 2021 (the “Act”). The Act will be effective once new rules are adopted, expected at the end of this year. It will require that any acquisition involving a buyer of a target “carrying on” activities in the United Kingdom in certain… Read more »
Posts Categorized: Corporate – U.K.
Now that Brexit is a reality and the U.K. has left the European Union (the “EU”), the issue of what comes next unfortunately is not over. The U.K. government of Boris Johnson is seeking to finish a trade agreement with the E.U. by the end of December 2020. Many experts believe that completing and ratifying… Read more »
In a decision dated April 10, 2019, Vedanta Resources PLC et al. v. Lungowe et al., the UK high court determined, in a decision on which the case did not depend, that a parent company can indeed assume liabilities of a subsidiary if the parent assumes a duty of care for the acts of the… Read more »
The U.K. Financial Conduct Authority (the “FCA”) has issued a “Dear CEO” letter on August 8, 2018, in which it makes clear that post-Brexit, the FCA is open to many different booking arrangements to be utilized by regulated U.K. investment firms for booking trades done with or on non-U.K. European firms. We are open to a… Read more »
The EU General Data Protection Regulation (the “GDPR”) is scheduled to go into force on May 25, 2018. The GDPR replaces existing data protection laws throughout the EU, and tightens the requirements that apply to businesses that collect and use personal data. While a full understanding of the GDPR is beyond the scope of this… Read more »
On April 5, 2017, the U.K. Department for Business, Energy & Industrial Strategy issued a call for evidence for a register in Companies House of non-U.K. companies that own or buy property in the United Kingdom or that participate in U.K. government procurement. Responses are due by May 15, 2017. A register of foreign companies… Read more »
On April 6, 2017, the Legislative Reform (Private Fund Limited Partnerships) Order 2017 (the “Order”) went into affect, amending the U.K. Limited Partnerships Act. The Order creates a new category of limited partnership, the private fund limited partnership (the “PFLP”). A PFLP application must include confirmation by the general partner that the “private fund conditions”… Read more »