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Group Litigation struck out as abuse of process In a landmark judgment, the High Court has today struck out as an abuse of process a claim brought by over 200,000 Brazilian claimants against the English and Australian holding companies of a global natural resources group. The judgment provides a detail...

The future of UK Insurance Regulation On 19 October HM Treasury published a call for evidence on possible future changes to the Solvency II regime in the UK. This was published alongside a first consultation on stage 2 of the Financial Services Future Regulatory Framework Review (the &ld...

Tax and the City Review for October 2020 Mike Lane and Zoe Andrews look at the decisions in McCabe and Newey; HMRC statistics; ESMA recommendations; and plans for an EU-wide system for withholding tax relief at source. The Upper Tribunal confirms in McCabe that arguments made by HMRC as part o...

Pensions Bulletin - September 2020 Welcome to the September 2020 Pensions Bulletin from Slaughter and May. In this month’s edition, we focus on the Government’s proposals for climate risk reporting by large pension schemes and recent announcement on the increase in the nor...

Improving governance and reporting of climate-related issues in occupational pension schemes: Government publishes proposals This briefing summarises the August 2020 DWP proposals for trustees of larger pension schemes to comply with the TCFD Recommendations. blockquote { font-style: normal!important; border: none!important; } .quote--purple { background: #4e264f;...

Debt finance post-lockdown: Prepare for the worst, hope for the best This publication outlines key issues for treasurers contemplating debt financings, refinancings or restructurings in the coming months and some of the themes that are starting to emerge. The debt markets were dominated by amendments and waivers, extensio...

Part VII transfer from LGAS to ReAssure In this briefing note, Robert Chaplin (Partner) and Ed Steward (Associate) discuss key aspects of Zacaroli J’s landmark judgment in the highly anticipated Part VII transfer of the mature savings business of Legal and General Assurance Society to ReA...

The next normal: what comes after the "new normal"? The last few months have, I think, made it clear that there will be no single sweeping return to "normal". However, as restrictions start to lift (however temporarily) and the end of both lockdown and the Brexit transition period appear on the h...

Tax and the City Review for August 2020 Mike Lane and Zoe Andrews look at, inter alia, EU proposals for modernising VAT on financial services and the decision in BlackRock which shows up some of the flaws in the current system. BlackRock loses its European appeal on VAT on management fee...

Standards in tax: the influence of economics and politics on tax policy and tax preferences Steve Edge argues that we are, once again, in the midst of the debate as to whether the rules of economics or politics should determine tax policy — and what sorts of actual or perceived tax avoidance should be targeted by tax administrators. Over ...