Covid-19

We have brought together on this site insights from our lawyers covering a range of issues. This site will be updated regularly as the situation evolves. We have spoken with many of you, but if there are questions you have, please do not hesitate to contact us.

The Covid-19 pandemic is an unprecedented and fast-moving situation. The challenges we face nationally, as well as individually and within our families and communities, are immense.

As a firm, our focus continues to be on the health and wellbeing of our people and on making sure that we can continue to service the needs of our clients to our usual standards and we will support our clients through these. It is vital that all our responses are proportionate and responsible. As you would expect our decisions are informed by government guidance and feedback from the market.

Open communication is vital so we are always be pleased to hear from you. We will do our best to keep you abreast of the fast moving developments and provide you with relevant advice and recommendations.

Featured articles

Extended furlough: new guidance and formal rules now published – important update

Last week saw the publication of three different sets of guidance on the extended furlough scheme – the Coronavirus Job Retention Scheme or CJRS. They have now been supplemented this morning by the formal rules governing how the scheme will run until 31 January. 

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Bridging the value gap

Last week Jessica Adam, a partner in our corporate and M&A team, was joined by Harry Bourne, from the investment banking group at Jefferies, to discuss bridging pricing expectations between buyers and sellers.

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Enforcing security in a depressed property market

As many businesses now face another phase of closures, we are seeing borrowers and lenders reconsidering and restructuring their finance arrangements. 

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In depth

Trending themes

Finance and investment

Under the spotlight: EU action against money laundering in the banking sector

Still friends? FCA launches investigation into Amigo Loans

AML enforcement: the FCA impose a significant fine on Commerzbank for AML failings

Time for UK fintech regulation to climb out of the sandbox and grow up - nicely

Brexit: TPR notification window will re-open on 30 September 2020

ESMA publishes final report on securitisation repository data guidelines

FCA powers for LIBOR transition: firms beware

Green shoots of ESG-linked lending appearing in fund financing

Issues for financial intermediaries on equity capital markets transactions in the present environment

Implications for finance documents

LIBOR transition in the midst of Covid-19

Equity fundraising by public companies in a financial crisis

Socially acceptable behaviour in the loan markets - ESG in action

UK authorised funds and Covid-19: putting investors' interests first

Investment management update - 8 April 2020

Covid-19: new FCA guidance on consumer credit and the implications for ABS and specialty finance

Market instability: should you suspend NAV calculation?

Luxembourg funds: weekly reporting to the CSSF to start from 22 April

Covid-19: considerations for private fund managers

UK-Swiss statement on co-operation in financial services

Financing support during Covid-19 disruption

FCA delivers update on Covid-19 business interruption test case

Covid-19: FCA updates and extends guidance for mortgage firms

AIFMD review: delegation, NPPRs and asset-stripping 

Bridging the value gap 

Governance, regulation and compliance

Incoming President of global money laundering body sets out priorities for new term

More time needed: SFO granted another extension to seize London properties

UK Government acts “without fear or favour” to introduce new human rights sanctions, effective immediately

The SFO gets agreement in principle for its eighth DPA

Dirty money should have nowhere to hide: the EU’s continued emphasis on the fight against money laundering

Furlough fraud: HMRC makes its first arrest

Change in emphasis: the government’s roadmap for easing the lockdown

The FCA and Covid-19 preparedness

Short-selling bans and calculating short selling positions

EU restricts exports of safety equipment due to Covid-19

Telephone recording and Covid-19: some relief for FCA authorised firms?

Will Covid-19 unwind global sanctions regimes? UN calls for change

Initial margin – industry calls for delay in compliance dates for Phases 5 and 6

SFTR reporting update – regulatory forbearance for backloading obligation for all phases

Rescues of companies in serious financial difficulty and dispensations under the Takeover Code

The impact of Covid-19 on competition law

Coronavirus has made AGMs much, much harder

Corporate law update: 3 April 2020

Initial margin - delayed

Corporate law update: 17 April 2020

The Coronavirus Act 20-19-2021: criminal law consequences

Covid-19: warning - cybercrime and fraud are on the rise

Who knew? Company directors may soon be jointly liable for furlough fraud

To test or not to test: considerations for offering antibody tests to employees.

HMRC relax ADR policy following tribunal statement

Co-ordinated global anti-corruption settlements

Unexplained Wealth Orders: NCA set to continue use of UWOs despite recent setbacks

The Council of the EU calls for greater financial crime powers

Russian courts and the exclusive jurisdiction over sanctions related disputes

U-Double-No: the NCA has been denied the chance to appeal their first UWO defeat