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BMW AG v CMA ruling - No extraterritorial effect for CMA's investigatory powers The Competition Appeal Tribunal (CAT) and High Court have issued a single ruling in Bayerische Motoren Werke AG v Competition and Markets Authority [2023] CAT 7 relating to an appeal by BMW AG and an application for judicial review by Volkswagen AG, which...

The Subsidy Control Bill - What you need to know about the UK's proposed new subsidy control regime Following an 8 week consultation on its initial proposals earlier this year, the UK Government has published its response to that consultation together with the much-anticipated Subsidy Control Bill setting out the UK's new subsidy control regime. As par...

The UK's national security bolstered - the National Security and Investment Bill receives Royal Assent The UK National Security and Investment (NS&I) bill - which sets up a new regime for the Government to review transactions involving entities and assets on national security grounds - received Royal Assent last week. The accompanying Government press rele...

Towards a home-grown subsidy regime for the UK As of 1 January 2021, the UK no longer applies the EU State aid rules (except as provided for in the NI Protocol to the EU-UK Withdrawal Agreement) but the EU-UK Trade and Cooperation Agreement (TCA) contains relatively detailed subsidy control commitment...

Northern Ireland Protocol: agreement in principle The co-chairs of the EU-UK Joint Committee stated that, following their meeting on 8 December 2020, agreement in principle had been reached on the outstanding issues in relation to the implementation of the Withdrawal Agreement and the Northern Ireland Pr...

EU-UK trade deal – can we learn from other FTAs between geographic neighbours? What are the comparators for trade agreements between close geographic partners? This briefing takes stock of the current state of negotiations between the UK and EU and considers how such areas of disagreement have been addressed in other free trade ...

Accounting standards equivalence: it doesn't need to be mutual In the non-binding Political Declaration that accompanied the Withdrawal Agreement, the UK and the EU committed, in relation to their respective financial services regulatory frameworks, to “start assessing equivalence with respect to each other under the...

Will rejecting the EU's new copyright directive #savetheinternet? In a U-turn against its policy under Theresa May’s government, the UK has indicated that it will not implement the EU’s new Directive on Copyright in the Digital Single Market (the "Directive”) now it has left the EU. On 16 January 2020, UK Minister for ...

Withholding tax on cross-border payments The Parent Subsidiary Directive (PSD) and the Interest and Royalties Directive (IRD) provide an EU law route for relieving withholding tax on certain cross-border payments. How might this change in the future – and what has changed already? Payments f...

Slaughter and May advised International Personal Finance plc on its issuance of SEK 450,000,000 floating rate notes Slaughter and May advised International Personal Finance plc on its issuance of SEK 450,000,000 floating rate notes