CMA Updates Its Penalties Guidance for UK and EU Competition Law Infringements

By | Latham.London | August 15, 2017
By Jonathan Parker and Calum Warren On 2 August 2017, the UK Competition and Markets Authority (CMA) launched a consultation on proposals to amend the Office of Fair Trading’s 2012 guidance as to the appropriate amount of a penalty for infringements of the prohibitions against anti-competitive agreements and an abuse of a dominant position contained in the Competition Act 1998 (the Current Penalties Guidance). View Full Post
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China’s Pilot Programmes Welcome Announced Launch of Emissions Trading System

By | Latham.London | August 9, 2017
By Paul Davies and Andrew Westgate Chinese policymakers have indicated that the country’s Emissions Trading System (ETS) — which will be the largest system of its kind globally and the centerpiece of Chinese climate change policy — is likely to launch in November 2017 “at the very earliest”. View Full Post
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Proposed FCA Rules Extend Warmer Welcome to Sovereign-Controlled Companies

By | Latham.London | July 25, 2017
By James Inness and Sean Meehan On 13 July 2017, the Financial Conduct Authority (FCA) proposed a relaxation of certain aspects of the premium listing segment for sovereign-controlled companies. The proposed new rules will create a new premium listing category pursuant to which: Related party rules will be modified so that the sovereign controlling shareholder will not be considered a related party. View Full Post
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PRI’s Private Equity Terms Guidance Focuses On Environmental, Social, and Governance (ESG) Factors

By | Latham.London | July 25, 2017
By Paul Davies and Michael Green On 13 July 2017, Principles for Responsible Investment (PRI) launched guidance on incorporating environmental, social, and governance (ESG) provisions in private equity fund terms. The publication, Incorporating Responsible Investment Requirements into Private Equity Fund Terms (the Guidance), followed a year-long consultation period with PRI signatories, expert counsel, and industry associations. View Full Post
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Proposed Draft Legislation Clamps Down On Soil Pollution in China

By | Latham.London | July 21, 2017
By Paul Davies and Andrew Westgate On 22 June 2017, Chinese legislators released draft proposals to combat soil pollution in China at a bimonthly session of the Standing Committee of the National People’s Congress. The legislation complements the State Council’s ambitious plan to address soil pollution – an area not specifically covered by Chinese environmental law at present.  View Full Post
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Three Fund Issues That Can Unexpectedly Impact Portfolio Company Investments

By | Latham.London | July 20, 2017
By Tom Alabaster and Nick Benson Increasingly complex fund structures and documentation mean that analysing how potential portfolio acquisitions interact with the fund at the top of any deal structure is more important now than ever. Investor Excuse Rights for Environmental, Social, and Corporate Governance (ESG) Compliance As investors focus on ESG compliance, requirements for “excuse rights” for non-compliant investments are expanding. View Full Post
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A New European Standard for “Green Finance”

By | Latham.London | July 20, 2017
By Paul Davies and Michael Green The High Level Expert Group on sustainable finance  (the Group), which the European Commission (the EC) established, published its interim report on 13 July 2017. The report sets out the key steps required to create a financial system that supports sustainable investment, as well as identifying areas for financial policy reform. View Full Post
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