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M&A hub: Developments driving and shaping M&A
Key legal and regulatory developments driving and shaping M&A
United Kingdom | Publication | September 2023
On 25 September 2023, the Financial Conduct Authority (FCA) and the Prudential Regulation Authority (PRA) published consultations setting out their proposals to introduce a new regulatory framework on diversity and inclusion (D&I) in the financial sector. The FCA’s consultation paper, CP23/20, is on D&I in the financial sector – ‘working together to drive change’, and the PRA’s consultation, CP18/23, is on D&I in PRA-regulated firms.
For further information, see our Regulation Tomorrow blog post.
On 15 September 2023 the UK Endorsements Board (UKEB) published two reports arising from its Climate-related Matters Research Project. The evidence gathered for these reports will help the UKEB obtain insight into UK companies’ existing experience of reporting on climate-related matters and the connectivity between sustainability reporting and financial reporting in this respect.
The two reports are as follows:
A desktop review of 24 recent research reports and articles commenting on climate-related risks and their connections with financial statements indicated three broad themes. In order of prevalence, these were:
These are discussed in more detail in the reports.
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Key legal and regulatory developments driving and shaping M&A
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The Digital Markets, Competition and Consumers Act (DMCC Act) received Royal Assent on 24 May 2024 and is generally expected to come into force in autumn this year.
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The English High Court has given its judgment in the legal battle between FW Aviation (FWA) and VietJet Aviation Joint Stock Company (VietJet). This case revolved around the enforcement of leasing agreements for four Airbus aircraft and the alleged interference by VietJet in the aircraft’s repossession in Vietnam.
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On 26 July 2024, the People’s Bank of China (PBOC) and the State Administration of Foreign Exchange (SAFE) jointly released revised rules in respect of the investments into China’s financial market through the Qualified Foreign Institutional Investor and Renminbi Qualified Foreign Institutional Investor (collectively, QFII) regime (the New Rules).
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