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Insurance briefing HM Treasury has published two draft statutory instruments which will allow it to implement reforms to the risk margin and the matching adjustment ahead of other proposed reforms to UK Solvency II. UK Solvency II implementation – the risk margin and... BLOG: Transfer pricing, permanent establishment and diverted profits tax reform The changes proposed by the UK government in its consultation on the reform of the transfer pricing, permanent establishment and diverted profits tax legislation are intended to ensure equal treatment between multinationals and other enterprises, simplify... Employment Bulletin - June 2023 Topics covered in this bulletin: Withdrawal of check-off arrangement was breach of contract not accepted by employees New family leave rights and protections Guidance on responding to data subject access requests Horizon scanning Withdrawal of che... Tax and the City Review for June 2023 In their latest Tax and the City article, Mike Lane and Zoe Andrews consider HMRC’s revised and expanded guidance on the loan relationships unallowable purpose test, noting that it is subject to change as some of the cases which it references are no... The next frontier: EU/UK competition law and labour markets Competition authorities are increasingly focusing their enforcement actions on labour market issues. Practices such as wage-fixing, no-poach and non-compete agreements, and the exchange of competitively sensitive information are coming under the regulator... EFIG: European Banking Newsletter - June 2023 Development's in this month's edition include:  Leverage ratio calculation - ECB v Crédit Lyonnais Signposting tool for supervisory reporting - EBA publishes statement  MLD4 - EBA publishes Consultation Paper  CRR - Pri... Competition & Regulatory Newsletter: European Commission adopts new horizontal block exemption Regulations and Guidelines On 1 June 2023, the Commission published its long-awaited revised Research and Development Block Exemption Regulation and revised Specialisation Block Exemption Regulation (together, HBERs), alongside revised Guidelines on horizontal cooperation. The revi... Value for money: a changing retail investment landscape in the UK and the EU This briefing examines the developing regulatory landscape, looking specifically at the European Commission's recently published Retail Investment Strategy (RIS) that would require manufacturers and distributors of investment products to ensure that t... So Near, So FFAR - How Legal Challenges to FIFA's New Football Agent Regulations Are Playing Out In Europe As we get closer to its full implementation on 1 October 2023, this briefing looks at recent legal challenges in European courts against FIFA’s new Football Agent Regulations (FFAR), including the decision by a Dortmund court in May to stop the impl... Green Securitisations in Europe: Fifty Shades of Green In this briefing we discuss a number of factors that result in the slower rate of adoption of ESG securitisation issuances in the UK and Europe.   INTRODUCTION Recent years have seen ESG ascend to the top of corporates’ and market participan...