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Abolition of lifetime allowance and introduction of new tax-free lump sum allowances The tight timetable for removing the lifetime allowance (LTA) on 6 April 2024 was confirmed at the Autumn Statement. The lengthy and complex legislation required to achieve this, and to introduce two new tax-free lump sum allowances, is included in the Fi... PS23/16 - FCA publishes final rules on sustainability disclosure requirements and investment labelling Following its consultation CP22/20 issued in October 2022, the FCA has finally published its Policy Statement setting out its final rules and guidance on sustainability disclosure requirements and investment labelling for sustainable investment products. ... Key developments in contentious DP in 2023 Year-on-year, data becomes more of a concern for individuals, organisations and regulators as both commercial opportunities and regulatory risks increase. The GDPR kicked off the latest phase of the data revolution in May 2018 and has since been followed ... Competition Appeal Tribunal sets a high bar for CMA raids at domestic premises On 7 December 2023, the Competition Appeal Tribunal (CAT) published a judgment confirming the higher level of scrutiny that applies to the Competition and Markets Authority’s (CMA) power to enter and search domestic premises. The ruling, in which th... Hong Kong Stock Exchange introduces IPO "double dipping" exemption Hong Kong Stock Exchange introduces IPO "double dipping" exemption Summary The Stock Exchange of Hong Kong Limited (the Exchange) published a revised Guidance Letter HKEX-GL85-16 (the Revised Guidance) introducing an exemption to permit existi... UK Prospectus Regime Reforms Approach Next Milestone The final draft Public Offer and Admissions to Trading Regulations 2023, first announced as part of the Edinburgh Reforms last year, have been published and laid before Parliament. The Regulations will lay the foundations for the new UK Prospectus Regime,... A Guide to Takeovers in the United Kingdom Memorandum providing a general guide to takeovers of listed companies in the UK This memorandum is a general guide to takeovers of UK incorporated and listed companies subject to The City Code on Takeovers and Mergers. It describes the UK bodies whi... EFIG: European Banking Newsletter – December 2023 Developments in this month's edition include: TARGET – ECB adopts amending Guideline and Decision Mapping of external credit assessments under Capital Requirements Regulation and Solvency II – Final reports published by ESAs CRR &nda... Competition & Regulatory Newsletter: European Commission fines Rabobank over bonds trading cartel European Commission fines Rabobank over bonds trading cartel On 22 November 2023 the European Commission fined Rabobank €26.6 million for its participation in a bonds trading cartel. Deutsche Bank was also found to have participated in the cartel but rec... Recent IBOR developments in the loan market With the mammoth task of transitioning away from LIBOR coming to an end, the focus has turned to interest rate benchmark reform in non-LIBOR currency jurisdictions. Recent developments in two such jurisdictions – Canada and Europe – have promp...