English law continues to be one of the most frequently adopted choices of law for international contracts across the world. Likewise, the court service in England, and in London in particular, maintains its reputation worldwide as a destination for international litigation. This article sets out ten key considerations for any person or business considering litigating commercial and corporate disputes in London.
The cost of living crisis is a challenge that most people are facing. The double impact of rising inflation and interest rates an be crippling for many. Not only do these challenges impact peoples’ pockets but they can also have a negative impact on work performance, morale and engagement in the workplace. In a recent YuLife survey, conducted in partnership with HR Ninjas, 91% of HR professionals said that they felt a responsibility to help. It is in this context that this article sets out how, as an employer, you can provide support to your workforce.
On 9 February 2023, the UK Competition and Markets Authority (“CMA”) published new competition law guidance targeted at employers. Its purpose is to remind employers that they must comply with competition law when setting wages, working conditions for new and existing employees, and policies on staff recruitment and retention.
This article provides an update of the sanctions enacted against Russia and Belarus by the United States, United Kingdom, and European Union.
The EU AI Act is hotly anticipated as being a benchmark AI law that other jurisdictions might look towards when developing their own laws (much like GDPR has become a standard upon which some other countries’ own laws are based). First, much like the GDPR in terms of impact, the EU AI Act will have an extra-territorial scope, extending to providers and users of AI outside the EU where the output is used in the EU. Secondly, the Act does lay down fixed penalties for certain infringements of the Act, the highest fine being 30,000,000 EUR or 6% of a company’s total worldwide annual turnover (3% in the case of an SME or start-up) for non-compliance with the prohibitions of AI practices.
On 28 February 2023, the Financial Conduct Authority (“FCA”) published its Regulatory Initiatives Grid updating the timeline of the Overseas Funds Regime (“OFR”), the new equivalence regime for retail investment funds and money market funds established outside the UK, which will allow recognised funds to be marketed to the public in the United Kingdom.
Can companies collaborate in the interests of environmental sustainability agreements without breaching competition law in the UK? This important question is tackled by draft guidance published by the Competition and Markets Authority (“CMA”) on 28 February 2023 (“guidance”). The guidance sets out the CMA’s proposed approach to how agreements between competitors in relation to environmental sustainability will be assessed and aims to provide businesses with clarity and comfort on the CMA’s enforcement approach to encourage such initiatives to be progressed. The guidance aligns with the important role the CMA considers it has to play in tackling climate change, as noted in a recent statement by the CMA’s CEO on 25 January 2023.
In a push to increase consumer understanding around the meaning of "carbon neutral" and "net zero" claims, the UK Committee of Advertising Practice (CAP) and Broadcast Committee of Advertising Practice (BCAP) have provided some updated guidance on misleading environmental claims and social responsibility in advertising. The guidance is intended to help encourage transparency and consensus of environmental-related claims in British advertising.
This article has been developed based on existing Code rules, rulings and a review of environmental claims and issues in advertising. This will be key for the air travel, energy and automotive sectors. The focus is on carbon neutral and net zeros adverts, as they are the most commonly encountered claims.
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.
This article looks at recent important issues in labor law for UK employers.