The Digital Markets, Competition and Consumers Act (DMCC) became law on 24 May 2024. This is the third update in our trilogy series on the DMCC. As we explained in our last update, the DMCC represents a major shift in UK...more
The Digital Markets, Competition and Consumers Act (DMCC), which became law on 24 May 2024, represents a major shift in UK digital, competition and consumer protection regulation....more
Shortly before the UK Parliament was prorogued on 30 May 2024, the long-awaited Digital Markets, Competition and Consumers Act (DMCC) received Royal Assent on 24 May 2024....more
The heightened scrutiny M&A deals are encountering from various regulatory agencies in the US represents only part of the global regulatory regimes that cross-border dealmakers must navigate. European regulators have enacted...more
Following introduction into the UK Parliament in 2023, the long-awaited Digital Markets, Competition and Consumers Act (DMCC) received Royal Assent on 24 May 2024. The legislation passed as part of the parliamentary ‘wash-up’...more
On 10 April 2024, the UK government updated its guidance on export controls regarding breaches of relevant legislation. In addition to encouraging voluntary disclosures by businesses in respect of export control violations,...more
Following an almost yearlong review into artificial intelligence (AI) foundation models, and the publication of its initial report in October 2023, the UK Competition and Markets Authority (CMA) has published an updated...more
On 6 March 2024, the US Department of Commerce, Department of the Treasury and Department of Justice issued a Tri-Seal Compliance Note (compliance note) advising foreign-based companies and individuals to assess their...more
On 12 March 2024, the UK Export Control Joint Unit (ECJU) announced that UK export control regulations would be amended to introduce new controls on the export of emerging technologies and provide a number of technical...more
On 18 December 2023, the European Council adopted its 12th package of sanctions against Russia. The comprehensive new package includes additional trade restrictions, stricter asset freeze obligations, energy restrictions and...more
Merger review has become an ever more critical path to successful M&A completion, as enforcement agencies, including the European Commission (EC), apply closer scrutiny to potential anti-competitive effects of M&A deals. With...more
The UK Office of Financial Sanctions Implementation (OFSI) and the Foreign, Commonwealth and Development Office (FCDO) recently published important guidance on the meaning of ‘ownership and control’ in the context of UK...more
The transition towards a net zero economy remains an important focus of the UK government’s internal and foreign policy. With the conclusion of COP28 (the 2023 United Nations Climate Change Conference), this client alert...more
Just shy of two years since the UK National Security and Investment (NSI) Act entered into force, on 13 November 2023, the UK government published a Call for Evidence on the functioning, scope and performance of the regime....more
The European Commission’s Recommendation on critical technology areas for the EU’s economic security, issued on October 3, 2023, kick-started an urgent risk assessment by policymakers and private sector stakeholders across...more
Like many regulators across the globe, the UK Competition and Markets Authority (CMA) has been hypervigilant in watching the development of the artificial intelligence (AI) foundation model market.
Following a five-month...more
On 31 August 2023, the UK Office of Financial Sanctions Implementation (OFSI) used its new disclosure enforcement power for the first time, issuing a report against Wise Payments Limited for breach of financial sanctions. The...more
On 31 August 2023, the UK Office of Financial Sanctions Implementation (OFSI) used its new disclosure enforcement power for the first time, issuing a report against Wise Payments Limited for breach of financial sanctions. The...more
The Foreign Subsidies Regulation (FSR), the European Union’s new screening tool for third-country subsidies, introduces a novel and additional layer of scrutiny in public procurement. Companies that take part in sizeable...more
On 13 July 2023, the Court of Justice of the European Union (CJEU) handed down its first ruling on the European Union Foreign Direct Investment Screening Regulation, which entered into force in October 2020. In short, the...more
The European Union’s new screening tool for third-country subsidies introduces a novel form of mergers & acquisitions scrutiny. Companies worldwide need to account for timing and execution risks arising from this system when...more
On 23 June 2023, the European Commission adopted its 11th package of sanctions targeting Russia and Belarus. The new package focuses on tackling the circumvention of trade sanctions through third countries and increasing the...more
On 4 May 2023, the United Kingdom’s Competition and Markets Authority (CMA) announced the launch of an initial review of the market for artificial intelligence foundation models. Through this initial review, the CMA aims to...more
The UK government recently published its second edition of Market Guidance Notes on the National Security and Investment (NSI) regime, which includes new additions and amendments to the previously published guidance of 19...more
On 30 March 2023, HM Treasury and the Home Office published the Economic Crime Plan 2 for 2023 to 2026. The three-year plan builds on the first Economic Crime Plan published in 2019 and commits the UK government to:...more