Legal News

Financial Institutions M&A sector trends: Asset/wealth management — H1 2020 and outlook for H2 2020. Differing bank prerogatives drive deal-making—-some European banks tag-out from non-core business lines, while others tag-in for stable returns......By: White & Case LLP

FDI restrictions have been on the political agenda in Europe and further afield for at least the past year, and following the outbreak of COVID-19 and the changed economic landscape, the approach in jurisdictions across the world has mutated....By: White & Case LLP

Introduction - Nothing focuses the mind more than when you cannot obtain food which, as Maslow's hierarchy of needs tells us, is the first building block of humanity's motivation (although it’s currently unclear where toilet roll fits into this)....By: K&L Gates LLP

On July 2, 2020, the IRS issued proposed and temporary regulations under section 1502 that implement certain statutory amendments made by the Tax Cuts and Jobs Act (TCJA) and Coronavirus Aid, Relief, and Economic Security Act (CARES) Act. Generally, the regulation package addresses the absorption of consolidated net operating loss (NOL) carryovers and carrybacks by consolidated groups under the TCJA and CARES Act....By: Eversheds Sutherland (US) LLP

Effective June 3, 2020, the screening of foreign direct investments (FDIs) has been expanded in Germany with a first tranche of new rules primarily affecting the healthcare sector. This expansion of the FDI control scheme reflects a broader trend across a number of EU member states and globally. It is also a first step of a more extensive revision of German FDI control that will come into force during the course of this year......By: Morrison & Foerster LLP

As European nations increasingly focus on regulation of foreign direct investment (FDI), the UK Government recently announced changes to the Enterprise Act 2002, which underpins the UK’s merger control regime. Within the raft of legislative measures introduced to combat the effects of the COVID-19 pandemic, the UK Government has turned its focus to protection of businesses that are crucial to fighting public health emergencies, while also expanding the jurisdiction of the merger control regime...

On July 3, 2020, the U.S. Department of Justice (DOJ) and U.S. Securities and Exchange Commission (SEC) jointly released the second edition of the “Resource Guide to the U.S. Foreign Corrupt Practices Act,” which was originally published in November 2012. In the intervening eight years, the DOJ and SEC have brought over 275 criminal and civil Foreign Corrupt Practices Act (FCPA) actions and secured over $7 billion in monetary penalties. Following this period of sustained activity, the guide no...

Can a breach of one contract give rise to liability for lost profit on a related contract? Or is the loss too "remote"? A Privy Council decision from Monday of this week addressed this issue in the context of a design, build, and operate (DBO) form of procurement. ...By: White & Case LLP

On June 29, 2020, the Japan Fair Trade Commission (“JFTC”) issued a draft of amendments to relevant cabinet orders and rules (“Drafts”) in accordance with the amendments to the Anti-Monopoly Act (“AMA”) previously passed in June 2019 (“2019 AMA Amendments” or “Amendments”). The JFTC is seeking comments from the public. Comments are due by July 28, 2020....By: White & Case LLP

Financial Institutions M&A sector trends: Fintech — H1 2020 and outlook for H2 2020. H1 2020 heralds an entirely new era for fintech, a market segment which scarcely existed at the time of the global financial crisis. Many founders and investors, who have enjoyed a bull run since 2015, have had their first taste of the bear markets which banks endured in the years following 2008....By: White & Case LLP