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Competition & Regulatory Newsletter: European Commission clears Microsoft/Activision Blizzard subject to conditions On 15 May 2023, the European Commission approved the proposed acquisition of Activision by Microsoft, subject to conditions. Following an in-depth review of the deal, the Commission concluded that the licensing commitments offered by Microsoft would fully...

Cooperation, dialogue, divergence: The future UK-EU relationship in financial services In this briefing, we consider the likely implications of the Memorandum of Understanding establishing a framework for financial services regulatory cooperation between the EU and the UK that was adopted by the European Commission and is now subject to pol...

Employment Bulletin - May 2023 Topics covered in this bulletin: Proposed three-month limit on non-competes and changes to TUPE and the Working Time Regulations New guidance on voluntary ethnicity pay gap reporting Non-compete covenant enforceable with words severed Proposed thre...

Spot the difference: The DPDI (No 2) Bill starts its legislative journey For businesses across the UK and beyond waiting to see what a UK GDPR 2.0 might look like, the journey towards revised data privacy laws in the UK has begun (again). A version of this briefing first appeared in the Privacy Laws & Business UK Re...

Tax and the City Review for April 2023 Mike Lane and Zoe Andrews discuss the FTT’s decision in Muller (application of intangible fixed assets rules to an LLP), the UT’s decision in Prudential (interaction of VAT grouping and time of supply rules) and some Spring Finance Bill measur...

Employment Bulletin - April 2023 Topics covered in this bulletin: April 2023 employment rates and limits and other developments New targets for ethnic diversity on boards Employment Tribunal failed to assess whether rushed dismissal to avoid enhanced pension was age discrimination ...

Tax and the City Review for March 2023 Mike Lane and Zoe Andrews discuss the CJEU’s judgment in the Gallaher case that the UK’s legislation at the relevant time was compliant with EU law and was proportionate without provision for deferral or payment in instalments. They also consi...

FCA publishes Discussion Paper DP23/2: Updating and improving the UK regime for asset management This briefing provides a summary of some of the areas of reform covered in the FCA's recently published discussion paper DP 23/2 (February 2023) on upgrading and improving the UK asset management regime. Some initial thoughts on the themes emerging fr...

Competition & Regulatory Newsletter: European Commission issues draft Foreign Subsidies Implementing Regulation On 6 February 2023, the European Commission published a draft Implementing Regulation containing detailed rules and procedures for the application of the new EU Regulation on foreign subsidies. The draft text provides clarity on the practical aspects of t...

Listed companies: what to expect in 2023 - Part 2 After a year shaped by geopolitical tensions, UK political turmoil, the fall-out from COVID-19 and economic volatility, we look at developments anticipated this year that will affect the rules and expectations around companies listed in the UK. In this se...