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Hong Kong Introduces Regulatory Regime for Stablecoin Issuers The Financial Services and the Treasury Bureau (FSTB) and the Hong Kong Monetary Authority (HKMA) issued a consultation paper in December 2023 on a proposal to regulate fiat-referenced stablecoin (FRS) issuers in light of the potential monetary and financ... Back to basics: Partnership and SP D12 SP D12 is a useful guide as to how the CGT rules should be expected to apply to partnerships and it fills in important gaps in the legislation. However, in practice it can lead to some surprising results and its non-statutory footing can cause uncertainty... EFIG: European Banking Newsletter – July 2024 Developments in this month's edition include: PH and others v European Central Bank - (Case T-323/22) EU:T:2024:460 Non-bank PSP access to central bank payment systems and accounts - ECB publishes policy Digitalisation of banks in the SSM - ECB publishes... CMA consults on new direct consumer enforcement guidance The Digital Markets, Competition and Consumers Act 2024 introduces a new direct enforcement model for consumer protection, bringing the consumer protection regime more closely in line with the CMA’s existing Competition Act enforcement powers. On 31 July ... Hong Kong Competition Tribunal orders penalties in the government subsidies cartel case On 7 June 2024, the Hong Kong Competition Tribunal (“Tribunal”) found eight undertakings and individuals liable for cartel conduct relating to quotations provided to the Innovation and Technology Commission of the Hong Kong Government (“ITC”) in response ... Equal pay update In a decision that could prove a significant milestone in the story of equal pay in the UK – an Employment Tribunal has decided that the retailer Next could not rely on “market forces” to justify differences in basic pay between the predominantly female r... Bank Resolution (Recapitalisation) Bill – where next for the special resolution regime? On 18 July 2024, the government introduced the Bank Resolution (Recapitalisation) Bill (the Bill) in the House of Lords. This implements proposals consulted on by the previous government in January and confirmed in the new Labour administration’s response... In-Depth: Dispute Resolution (formerly The Dispute Resolution Review) – 16th edition – England & Wales chapter  The Sixteenth Edition of In-Depth: Dispute Resolution (formerly The Dispute Resolution Review) provides an indispensable overview of the civil court systems in major jurisdictions worldwide. It examines the key aspects of each jurisdiction's dispute... When is a foreign subsidy distortive? Just over a year after the Foreign Subsidies Regulation (FSR) came into force, the European Commission (EC) has published some initial clarifications in a Staff Working Document (SWD) on how certain concepts in the regulation, including the concept of “di... Employment Rates and Limits: April 2024 Document setting out the current relevant rates and limits in employment law. Covers compensation limits (including unfair dismissal), statutory payments, income tax and National Insurance rates, National Minimum Wage and amounts recoverable from the Nati...