Legal News

Primary HSR filing threshold will be decreased to $92 million - The Federal Trade Commission has announced revisions to HSR Act and Clayton Act Section 8 thresholds, which are indexed annually to account for inflation. As is our annual practice, this alert identifies the adjustments that are likely to be the most relevant to our clients, and reiterates several important practice tips....By: Proskauer Rose LLP

31 December - The Brexit Transitional Period (pursuant to which the UK stayed in the Single Market and European Customs Union came to an end. The FCA updated its Brexit webpages to remind firms of the potential impact this will have....By: Proskauer Rose LLP

In March 2021, a new European Union regime on sustainability-related disclosures in the financial sector will come into force. The Sustainable Finance Disclosure Regulation 2019/2088 (“SFDR”) contains rules regarding sustainability-related disclosures which will need to be made by financial market participants (“FMPs”) and financial advisers within the scope of the Regulation (“FAs”)....By: Proskauer Rose LLP

On 11 November 2020, the UK Government announced its long-awaited and far-reaching proposed reforms to its existing powers to scrutinise foreign investment in the UK, especially in relation to sectors deemed to be particularly sensitive from a national security perspective. In summary, the National Security and Investment Bill (“NSIB”) increases significantly the Government’s existing enforcement powers, by essentially introducing a standalone, CFIUS-style, foreign investment regime....By: P...

Practitioners and dealmakers have lived under the Hart-Scott-Rodino (HSR), reporting requirements for a long time and have developed a pattern and practice for assessing reporting obligations and managing compliance and risk. Major disruptions to the regimen are typically unwelcome – especially where they come with new and expanded reporting obligations. They may be on the way under a proposed rulemaking which would expand reporting requirements in several significant ways, and potentially...By...

Megamergers that deprive the American consumer of competition are illegal. But the urge to merge is often so strong that antitrust risks rarely prevent behemoths from the attempt. Long before parties sign deals, issue press releases, and file for government approval, they must decide who will bear the risk that the FTC or DOJ will put the kibosh on the deal....By: Proskauer Rose LLP

Since the enactment of the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”) on March 27, 2020, the U.S. Small Business Administration (the “SBA”) and the U.S Treasury Department (“Treasury”) have issued a sizable number of rules and additional guidance to implement the CARES Act’s marquee small business loan component – the Paycheck Protection Program (the “PPP”). On April 24, 2020, the Paycheck Protection Program and Health Care Enhancement Act (the “PPPHCEA”) ...

A new European regime on sustainability-related disclosures in the financial sector will come into force from March 2021, after first being announced in 2018 during the European Commission’s Action Plan on Sustainable Finance....By: Proskauer Rose LLP

The United States Department of Justice released its revised Merger Remedies Manual on September 3, 2020, providing “Antitrust Division attorneys and economists with a framework for fashioning and implementing appropriate relief . . . in merger cases.” The Manual is the Agency’s guidebook for fashioning and implementing remedies after it has concluded that a proposed merger may substantially lessen competition....By: Proskauer Rose LLP

On May 21, 2020, the Securities and Exchange Commission (the “SEC”) amended the financial statement and other disclosure requirements that apply when public companies acquire or dispose of a business or real estate operations. The amendments simplify and rationalize the current rules, and should on balance decrease the regulatory burdens on public companies. The amendments continue the SEC’s focus on reducing the regulatory burdens on public companies and facilitating access to public capital...