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News & Insights

Will the UK join the SPAC mania?

by Leela|7 June 2021|Industry News

Special purpose acquisition companies (“SPACs“) have experienced a surge in their popularity in the recent years. In the United States (“US“) market, SPACs have raised $83 billion (£63.5 billion) in 2020 and $88 billion (£63.1 billion) in the first quarter of 2021.[1] Whilst SPAC activity has been strong in the US for a number of […]

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FCA strengthens rules on financial promotion

by Leela|27 May 2021|Industry News

The Financial Conduct Authority (“FCA”) has published its discussion paper DP21/1 regarding the strengthening of its financial promotion rules for high-risk investments and firms approving financial promotions. THE FAC’s WIDER INITIATIVES DP21/1 forms part of the response to the FCA’s wider call for input on consumer investments, which closed in December last year. According to […]

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Case Law: Benchmarking clauses and market comparison

by Leela|26 May 2021|Industry News

The recent judgment in Travelport Ltd & Ors v WEX Inc [2020] EWHC shows how important it is to use precise language when drafting a clause involving a market comparison. In this judgment, the High Court was asked to analyse a complex “material adverse effect” (“MAE”) clause and, amongst other things, to consider the impact […]

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Glass Lewis review of compliance with UK Corporate Governance Code

by Leela|20 May 2021|Industry News

Earlier this year Glass Lewis published an interesting review of the impact of the 2018 UK Corporate Governance Code (the “Code”) on governance practices, in which it sets out its approach to the most common provisions of non-compliance among FTSE 350 companies (the “Review”). Glass Lewis is one world’s largest independent providers of governance and […]

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Case Law: Can an exclusion clause or liability cap apply to a deliberate or fundamental breach?

by Leela|17 May 2021|Industry News

FACTUAL BACKGROUND Most business-to-business commercial contracts will include provisions which limit either one or both parties’ liability towards the other. Examples of the type of clauses which aim to achieve this are: exclusion of liability: these clauses are contractual terms which attempt to either exclude or limit the liability of one party towards another for […]

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FCA statement and feedback on its assessment on liquidity mismatch in authorised open-ended property funds

by Leela|12 May 2021|Industry News

In August 2020 the Financial Conduct Authority (“FCA”) consulted on proposals to reduce the potential for harm to investors from the liquidity mismatch in open-ended property funds (the “Consultation”,”CP20/25”). In particular, the FCA consulted on suggesting a new notice period for redemption in these funds and also asking for alternative proposals. Following this consultation, the […]

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CMA publishes annual plan 2021/22

by Leela|11 May 2021|Industry News

The Competition and Markets Authority (“CMA”) published its annual plan for 2021/22 on 23 March 2021. As a result of the COVID-19 pandemic, like the rest of the world, the UK has faced major challenges in the goods and services sector. Moreover, the CMA has taken on new responsibilities as the transition period out of […]

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