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FX collective proceedings: The Supreme Court judgment On 18 December 2025, the UK Supreme Court handed down its judgment in the long-running foreign exchange (FX) collective proceedings (Evans v Barclays Bank plc & others). The judgment represents a landmark decision for the competition law collective... That was the year that was 2025 2025 was the year that ‘Celebrity Traitors’ captivated the nation; so much so that it looked like Rachel Reeves and Keir Starmer were inspired to betray their voters and kill their manifesto commitment to not raise taxes. As it happens, they couldn’t... Recent SFC enforcement action demonstrates increased scrutiny of licensed fund managers In this briefing, we highlight some of the latest developments in 2025 and revisit some of the pivotal milestones in the first decade of Hong Kong’s competition law regime.   2025 marks a significant milestone for Hong Kong’s competition law regime –... Horizon Scanning: Crisis Management In 2024, a nuanced exploration of the risk landscape is more relevant than ever. While shareholder activism and cyber-attacks continue to pose persistent challenges, our series sheds light on new and emerging risks. These include strategic responses to... Horizon Scanning: Digital The rate of change in the digital landscape shows no signs of slowing in 2024. While this can make it difficult for laws to keep pace, the drive to regulate means existing laws are evolving, new rules are being agreed and ‘soft regulation’ is more... Horizon Scanning: Capital Flows As markets settle into a high interest rate environment, we expect activity to pick up this year. We are cautiously optimistic that 2024 will see increased activity in M&A and capital markets. With sponsors sitting on unprecedented levels of dry... Horizon Scanning: Governance & Sustainability With ever increasing regulation, businesses are expected in 2024 to shift towards the implementation of sustainability strategies with pressure from stakeholders to demonstrate progress. A focus on transparency and accountability underpins the latest... Horizon Scanning: Energy Transition It is estimated that the global net zero economy requires an average of US$3.4 trillion capital investment a year to 2050 to hold global warming at 1.5°C. This represents an enormous opportunity for sponsors, lenders, and corporates alike. Solutions go... Horizon Scanning 2024 series Manifesto commitments: Potential impact on UK Energy and Infrastructure The UK General Election on 4 July 2024 takes place in the broader context of heightened geopolitical tensions and inflationary pressures, with energy security, net zero targets, and economic growth remaining key concerns on both the national and...