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Tax and the City Review for November 2022 Mike Lane and Zoe Andrews discuss the VAT decisions of the CJEU in O Fundusz (sub-participation agreements) and of the Supreme Court in NHS Lothian (VAT recovery), HMRC’s Guidelines for Compliance, the OECD’s report on tax incentives and the U... Solvency UK - Results of the Solvency II Review In this briefing note we discuss the results of HM Treasury's review of UK Solvency II, including key changes to the risk margin and the matching adjustment to release capital held by insurers and facilitate investment in long-term productive assets. ... BLOG: Further changes to the UK's R&D tax regime Against a background of some “difficult decisions” being taken by Chancellor Jeremy Hunt in his 2022 Autumn Statement on 17 November 2022, the Treasury unveiled some further changes to the UK’s Research and Development (R&D) tax regime, signalling a m... The Legal 500: Blockchain Country Comparative Guide 2022 - Hong Kong chapter The Blockchain Country Comparative Guide aims to provide an overview of the law and practice of blockchain law across a variety of jurisdictions. This chapter relates to Hong Kong law.   Please provide a high-level overview of the blockchain mark... BLOG: Taxing decisions in the Autumn Statement Undoubtedly, the UK’s Autumn Statement delivered by Chancellor Jeremy Hunt on 17 November 2022 reflected some difficult decisions (see the Treasury’s news story and the text of his speech). But at least the one relating to the GloBE rules under Pillar 2 m... Lessons for controllers from DSG v Information Commissioner: The scope of discretion when implementing data security priorities In a world of headline-grabbing mega-fines against tech giants, it might seem that a £500,000 pre-GDPR fine would be of limited interest. However, a recent decision from the UK’s First Tier Tribunal provides important and valuable lessons for ... BLOG: Regulated financial services exclusion from Amount A of Pillar One I have put off writing about Amount A of the first international tax reform Pillar for two reasons. The main reason is the concern that it might not actually ever happen. Since international agreement in principle was reached in October 2021, the OEC... Consents, Records and Disguises: Lessons from ICO Direct Marketing Enforcement Actions A version of this briefing first appeared in the Privacy Laws & Business UK Report, Issue 121 (May 2022) The past year has seen a continued trend of enforcement action by the Information Commissioner’s Office (ICO) for breaches of the direct m... Competition & Regulatory Newsletter: CMA publishes second report on state of UK competition The Competition and Markets Authority has published its second report on the state of competition in the UK, finding that market concentration remains higher than before the financial crisis of 2008 and that those from lower income households are more exp... Putting the G in ESG - How activists target governance issues While activists continue to agitate for change on issues such as M&A strategy, operational failings and climate, one area that activists also target under the banner of ESG is governance.  Activists are making increasing use of governance issues...