Nota Bene Episode 102: Examining European Union State Aid in the Face of COVID and Brexit with Jacques Derenne and Robert Klotz
Nota Bene Episode 89: European Q3 Check In - Merger Clearance and Data Protection Court Rulings and Brexit Updates with Oliver Heinisch
On 2 April 2019, the European Commission (the “Commission”) concluded that the group finance company exemption from the UK’s controlled foreign company (“CFC”) regime, in respect of finance income that derived from UK...more
Shearman & Sterling advises on many of the most significant subsidy matters in the UK and European Union. As part of this work, we have seen the increasing role that subsidy has played in the policy choices made by...more
This regular alert covers key regulatory EU developments related to the COVID-19 situation. It does not purport to provide an exhaustive overview of developments and contains no analysis or opinion. This COVID-19 Update...more
Following its exit from the European Union, the United Kingdom (UK) is no longer bound by the EU’s rules governing public subsidies. At the end of April 2022, the UK Parliament passed the Subsidy Control Act 2022, which sets...more
The Subsidy Control Bill (the "SCB"), first introduced by the Department of Business, Energy and Industrial Strategy (the "BEIS") on 30 June 2021, is making its way through the House of Lords ahead of expected adoption in...more
The UK Government has been busy adding flesh to the bare bones of the domestic subsidy control regime that has been in place since the start of 2021 following the signing of the EU/UK Trade and Cooperation Agreement (TCA). ...more
The UK has left the EU but there remains a vast array of operational and legal issues for businesses to address. See below for our perspectives on the key challenges and opportunities that Brexit presents for different...more
The UK government introduced into Parliament a wholesale change to its State aid rules under the new Subsidy Control Bill on 30 June 2021 (the “Bill”). The regime, which is set to come into effect in H1 2022, subject to...more
ANTITRUST AND COMPETITION - The European Commission Accepts Commitments from a Pharma Company to Stop Its Excessive Prices - On 15 May 2017, the European Commission (Commission) announced that it had opened formal proceedings...more
Commissioned by the U.K. government to review its antitrust regime, Conservative Member of Parliament John Penrose’s “Power to the People” report proposes streamlined, modest changes rather than wholesale reform to the...more
State aid remained one of the key sticking points in Brexit negotiations right until the announcement of the Trade and Cooperation Agreement ("TCA") on Christmas Eve 2020. One of the key priorities of the European Union...more
The European Union (EU)-U.K. Trade and Cooperation Agreement (TCA) governing post-Brexit trade relations between the U.K. and the EU includes provisions regulating EU/U.K. antitrust enforcement and cooperation effective...more
Even the most hardened of commentators would have assumed that by the second week of December the UK and EU negotiators would by now have delivered a BREXIT deal, albeit one which was some way off from the original claims of...more
After three years of dominating the news (in the UK at least), Brexit has been extremely quiet for much of the year. This is hardly a surprise given that we have been in the thick of a global pandemic that has changed so much...more
December 31, 2020, is the last day of the Brexit transition period under the Agreement on the Withdrawal of the United Kingdom of Great Britain and Northern Ireland From the European Union and the European Atomic Energy...more
On 29 September 2020, the UK Government laid before Parliament draft legislation which effectively revokes the EU state aid rules in the UK from the end of the Brexit transition period. The draft Regulations do not put in...more
On 22 September 2020, the European Court of Justice (ECJ) delivered a judgment confirming the prior ruling by the General Court that validated the European Commission’s (EC’s) decision that the UK government could lawfully...more
UK COVID-19 Developments - Furlough not detrimental to EMI options held on 19 March 2020 - On 26 June, the government introduced a new provision into the Finance Bill that provides that the period during which an...more
Over four months into the formal bilateral negotiations between the EU and the UK to reach agreement on their future relationship, is there land ahoy? What are the realistic chances of a deal by the end of this year?...more
There is a lot currently happening in the European Union. From the latest European Court opinions with respect to merger clearance, dominance violations, data protection and state aid to Brexit, we’re checking in with our...more
While the COVID-19 outbreak is a severe public health emergency for citizens and societies, it also poses the risk of a serious downturn in the economy, affecting businesses, jobs, and households. In these exceptional...more
The European Commission has approved a £50 billion (EUR 57 billion) “umbrella” UK state aid scheme to support small and medium-sized enterprises and large corporates in the United Kingdom affected by the coronavirus...more