Resource Library

ESG issues are playing an ever-increasing role in businesses and have an impact right across the employment, retirement benefits, tax, executive compensation and share incentives space. This trend of growing focus is expected to continue into 2023 and beyond. As such, when designing and reviewing compensation and benefit packages, it is increasingly important for companies to do so with its ESG strategy in mind.

In January 2023, the UK's Competition and Markets Authority (CMA) published its much awaited consultation on its Draft Guidance on Horizontal Agreements. The CMA clearly indicated that it proposes to take advantage of its post-Brexit freedom and to depart from the position on this issue taken by the European Commission as set out in its Draft Guidance on Horizontal Agreements, and to take a more radical and permissive approach to the role competition law has to play in supporting environmental sustainability initiatives.

This article looks at recent important issues in labor law for UK employers.

In 2021, in the context of the common agricultural policy reform 2023-2027, the European Parliament and the Council of the European Union adopted a new exemption from competition rules for certain agricultural products. Specifically, Article 210a of Regulation 1308/2013 establishing a common organisation of the markets in agricultural products (“CMO Regulation”) introduced an exclusion from the prohibition against anti-competitive agreements (or “cartels”) for certain restrictive agreements in the agricultural sector when those agreements are indispensable to achieve sustainability standards. In this latest development, on 10 January 2023, the European Commission (“Commission”) published for consultation its draft guidelines on how this exclusion should apply. The Guidelines seek to clarify how operators active in the agri-food sector can design joint sustainability initiatives in line with Article 210a.

On 16 December 2022, the Financial Conduct Authority (FCA) published a notice confirming the Collective Investment Schemes (Individually Recognised Overseas Schemes and Miscellaneous Amendments) Instrument 2022 ("CIS 2022") became effective 1 January 2023. CIS 2022 introduces changes to the ‘s272 regime’ contained in Financial Services and Markets Act 2000 (“FSMA”) for recognising overseas collective investment funds. The Collective Investment Schemes sourcebook (“COLL”), the Decision Procedure and Penalties manual (“DEPP”) and the Glossary of definitions of the FCA Handbook are amended.

Now that some of the hype and uncertainty around the Protection of Personal Information Act (POPIA) has settled, and data privacy and protection has become an integral part of our personal and professional lives, we can take some time to reflect on some of the aspects of data privacy legislation that are required for organisations to be compliant. No organisation operates in isolation, and organisations generally require some assistance or services from third parties in their day-to-day operations.

Progression in technology has meant that, over the last decade, contracts have become longer, more complex and sometimes harder to negotiate as businesses have been keen to have the most protective contracts possible. Over time, businesses often build up multiple contract templates to ensure that every contracting eventuality is covered. But what if there could be a different approach?

With organisations increasingly relying on AI technology, UK and EU regulators are turning their attention to effective regulation of AI in an effort to recognise its benefits while instilling confidence in individuals that the increasing use of AI is being deployed appropriately and lawfully. In the EU, the European Commission’s AI Act (“Act”) proposal has undergone further changes following review by EU member states. The Council of the EU approved a compromise version of the Act on 6 December 2022. The European Parliament is expected to vote on the draft by the end of March 2023, with a view to adopting the Act by the end of 2023.

After a 4-year freeze, the Hong Kong Executive Council endorsed the Minimum Wage Commission’s recommendation on 10 January 2023 to raise the statutory minimum wage by HK$2.5 to HK$40 per hour, representing a 6.7% hike. Subject to the approval of the Legislative Council, the revised rate will come into force on 1 May 2023, the Labor day.

The Abu Dhabi Global Market (“ADGM”) published its Guiding Principles on Whistleblowing on 6 December 2022 (“Guiding Principles”). The Guiding Principles are intended to provide a benchmark or framework for all ADGM entities to work within, and all such entities are encouraged to review and align their own whistleblowing procedures with the Guiding Principles.