Legal News

In Tuesday's Report: the expanding role of real-world evidence in FDA medical device submissions; President-elect Joe Biden lays out COVID-19 plan; Pfizer announces vaccine efficacy; and an analysis of material adverse change (MAC) clauses in Japan....By: Hogan Lovells

COVID-19: EFAMA updates cyber-prevention standards for investment management companies - The European Fund and Asset Management Association (EFAMA) has published a document updating the International Investment Funds Association's (IIFA) Cybersecurity Program Basics document, which was first published in October 2019....By: Hogan Lovells

Considerations when reviewing your MAC Clause in a COVID-19 Climate - As was the case after the global financial crisis in 2008 and Japan's triple disaster in 2011,companies are turning their minds to their potential exposure to, or their ability to rely on, material adverse change (MAC) clauses in light of recent events surrounding COVID-19. Please see full Publication below for more information....By: Hogan Lovells

The Supreme Court has handed down judgment today in an eagerly awaited case on restrictive covenants and affordable housing. It is the first time that the Supreme Court has considered a case on the modification of restrictive covenants....By: Hogan Lovells

Earlier this summer, the UK government announced that it would review the impact of the Solvency II regime on the UK insurance industry. On 19 October 2020, HM Treasury published a Call for Evidence....By: Hogan Lovells

On 8 October 2020, the Insolvency Service published the outcome of its review of industry reforms to pre-pack sales in administration and made recommendations which will impact the way in which pre-pack sales to connected parties in particular operate in the UK in the future. Please see full Publication below for more information....By: Hogan Lovells

AIFMD review: European Commission consultation - The European Commission has launched a consultation questionnaire relating to its review of the Alternative Investment Fund Managers Directive (AIFMD)....By: Hogan Lovells

Increasingly, private credit fund managers are seeking to adopt dynamic fund structures utilizing open-end and closed-end vehicles investing side by-side to appeal to competing investor demands for liquidity on the one hand, and returns, on the other. In this article, we consider this trend in brief, what is driving it, and we examine some of the issues sponsors must consider to implement these structures successfully. Please see full Publication below for more information....By: Hogan Lovells

ESMA guidelines on liquidity stress testing in UCITS and AIFs: FCA comment - Among other things covered in its latest Regulation round-up, the UK Financial Conduct Authority (FCA) comments on the European Securities and Markets Authority's guidelines on liquidity stress testing (LST) in UCITS and alternative investment funds (AIFs)....By: Hogan Lovells

On 19 September 2020, China's Ministry of Commerce (MOFCOM) published the Provisions on the Unreliable Entity List (Order No.4 of 2020) (provisions), which immediately came into effect. It has been over one year since MOFCOM first introduced the idea of the Unreliable Entity List (UEL) at the end of May 2019....By: Hogan Lovells