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Competition & Regulatory Newsletter (24 February - 9 March 2021) CAT upholds CMA decision that Lexon acted anti-competitively in sharing information about the supply of nortriptyline CAT upholds CMA decision that Lexon acted anti-competitively in sharing information about the supply of nortriptyline In its judgment o... FCA makes cessation and “pre-cessation” announcement for all LIBOR tenors This morning, the FCA announced the dates on which all 35 LIBOR rates will either cease or will lose representativeness (“pre-cessation”). The FCA's announcement FCA’s announcement also specifies the LIBOR tenors for which the p... The corporation tax rise in pictures... For those who prefer to think in pictures, this chart from the OBR's 2018 report "Why have onshore CT receipts performed so well since 2013-2014?" is a very neat illustration of the balance of measures that have more or less offset each prev... 2021 HR Budget Briefing Our 2021 HR Budget Briefing, summarises the key implications for employees and their employers of the UK Budget announced on 3 March 2021. Many commentators will rightly focus on the extension of the employee furlough regime until September, but ther... Has the Chancellor really just announced a UK corporation tax rise of over 30%? TLDR – yes, it seems he has. The Chancellor is still trumpeting the rate as the lowest in the G7, even after the rise. But for those watching as the effective corporate tax rate shoots up above those of many of the UK’s competitors, the impact... UK’s March 2021 Budget: Spend now – pay later The UK’s headline corporation tax rate is set to rise to 25% from April 2023 (with a commensurate increase in the diverted profits tax rate) – but, in the short-term, economic support will continue, including through an enhanced loss carry-bac... The Arbitration (Amendment) Bill 2021 The Arbitration (Amendment) Bill 2021 was introduced to implement two major provisions of the Supplemental Arrangement that require local legislative amendments to take effect. In our recent briefing, we discussed the key features of the Supplemental Arr... Data Privacy Newsletter - March 2021 Selected legal and regulatory developments in data privacy for March 2021 We were all relieved last week when the European Commission announced that they had published draft adequacy decisions for transfers of personal data to the UK. The news is al... Court of final appeal rules on jurisdiction of court in a common law action to enforce an arbitral award In the final chapter of a long running dispute spanning 15 years concerning an agreement for the delivery and development of a piece of land and subsequent share sale, the Court of Final Appeal clarified the position on common law action to enforce an arb... European commission seeks views on competition law and sustainability The European Commission has published a call for contributions seeking ideas from stakeholders on how to adapt the European competition rules to support environmental goals. “When we look around us, at the state of our environment and our climate i...