Expert Analysis

• A Look Ahead At ESG Expectations For 2023

  

  There are a number of themes that will shape market developments and legislative agendas in the environmental, social and corporate governance sphere in 2023, and a continuing shift from the development of standards to their implementation is likely, say Rebecca Perlman and Ernst Muller at Herbert Smith.

• Cos. Can Expect Intense Antitrust Enforcement This Year

  

  In 2023, authorities in the U.K. and Europe are expected to push the boundaries of antitrust enforcement, merger control and foreign investment screening with the goal of achieving positive outcomes for consumers, say Nicole Kar and Tara Rudra at Linklaters.

• What Slovak Labor Code Changes Will Mean For Employers

  

  With newly effective amendments to the Slovak Labor Code strengthening employees’ rights in a number of ways, the default mindset of the employee being the weaker party may no longer be the right approach, says Katarina Pfeffer at Bird & Bird.

• An ICO Reminder On Managing Subject Access Requests

  

  Although the U.K. Information Commissioner's Office’s recent seven reprimands regarding mismanagement of data subject access requests are unusual, it is worth organizations considering what resources and training may be available to ensure these are properly managed in the future, says Ross McKenzie at Addleshaw Goddard.

• Foreign Direct Investment Considerations For Buyers, Sellers

  

  The rapidly developing legal and regulatory foreign direct investment landscape means the challenge for deal makers is in navigating the continuously changing rules and understanding the manner in which regulators interpret them, says Kurt Ma at BCLP.

• Widely Forecast UK Recession Is Likely To Reshape M&As

  

  Despite the economic downturn in the U.K., transactions will continue to get done in 2023, albeit with more complex terms and a greater focus on undertaking vigorous due diligence on customer relationships and contracts, say attorneys at Skadden.

• New Economic Crime Bill Brings Welcome Reforms

  

  The proposed amendments to the Proceeds of Crime Act in the new Economic Crime and Corporate Transparency Bill have so far largely gone under the radar, but they are a positive step that will reduce the burden on the National Crime Agency, says Ruth Paley at Eversheds Sutherland.

• EU Beneficial Owners' Privacy Ruling Conflicts With UK Law

  

  A recent decision by the Court of Justice of the EU to strike down a requirement for registers of corporates’ beneficial owners to be available to the public is an example of EU-U.K. divergence, with the EU valuing privacy over transparency and the U.K. making the opposite calculation, says John Binns at BCL.

• How Overseas Property Verification Poses Risks To Attorneys

  

  The recently launched register of overseas entities, requiring verification of foreign owners hoping to purchase U.K. property, could expose attorneys to criminal prosecution, professional negligence claims and reputational damage if they do not complete these checks to the required standard, which nevertheless remains murky, says Harriet Holmes at Thirdfort.

• Lessons That May Be Learned From The Demise Of Made.com

  

  With Made.com going into administration, companies that may face similar challenges should take on board that the earlier adequate preemptive planning is considered, the more financial and legal options there will be to avoid last minute firefighting and to focus instead on strengthening the business, says Eleni Michaela at Faegre Drinker.

• High Court Ruling Clarifies Notice Under Swaps Agreement

  

  The English High Court's recent decision in Macquarie v. Phelan Energy, the first judgment to consider the validity of a failure-to-pay notice under the 2002 International Swaps and Derivatives Association master agreement, gives important guidance to financial institutions and derivatives trading participants about the level of accuracy required in those notices, say attorneys at Norton Rose.

• The FTX Fallout So Far And What May Come Next

  

  While the downfall of FTX is likely to cause substantial losses and lead to extensive litigation, it will hopefully precipitate a renewed focus on regulating the crypto market in a responsible way that gives more protection to consumers, says Dan Wyatt at RPC.

• A Look At The Swath Of Claims Amazon Faces Worldwide

  

  The increasing number of claims against Amazon may well be a sign of the EU regulatory regime on the horizon for digital gatekeepers and the developing area of collective proceedings in the U.K., says David Greene at Edwin Coe.

• Link Ruling Shows FCA's Wide Change-In-Control Powers

  

  The Financial Conduct Authority's recent decision regarding the proposed acquisition of Link Fund Solutions is a reminder that the regulator has significant powers to attach conditions to its approvals and the advent of the Financial Services and Markets Bill could lead to the widening of those powers, say Charlotte Hill and Daniel Hirschfield at Taylor Wessing.

• Understanding The EU's New Foreign Subsidies Regulation

  

  The European Parliament’s newly adopted Foreign Subsidies Regulation extends already wide-ranging European Union state aid powers and adds new layers of deal conditionality, so companies will need to carefully consider how the regulation may affect their EU-bound activities, say Peter Camesasca and Sophie Bertin at Covington.