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UK Public M&A Monthly Activity Update: July 2025

In July 2025, there were five Rule 2.7 announcements made across the UK public M&A market and three further possible offers announced… more

Acquisitions, Capital Markets, Corporate Governance, Financial Markets, Mergers

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AML/CTF reforms: Rules take shape with further Consultation

A quick recap on reforms affecting reporting entities The Amended AML/CTF Act removed the concept of "designated business groups" and replaced this with "reporting group". The concept of "reporting group" means that, if relevant… more

AML/CFT, Anti-Money Laundering, Business Entities, Disclosure Requirements, Financial Institutions

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Nataly Adams

Clouds Over Blue Sky: High Court Limits Solicitors’ CFOs

On 6 August 2025 the High Court of Australia (High Court) unanimously held that at the time of settlement or judgment in a class action, the Federal Court of Australia (Federal Court) does not have the power to grant a… more

Access To Justice, Australia, Class Action, Contingency Fees, Jurisdiction

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Clémence Dubois Ahlqvist

Accessibility Directive: Final countdown before application on 28 June 2025 - Businesses will be required to comply with new requirements across the EU on a broad range of products and services

On 28 June 2025, businesses will be required to comply with accessibility requirements applicable across the European Union (EU) for a broad range of products and services. These obligations stem from Directive (EU) 2019/882 on… more

Accessibility Rules, Disability Discrimination, Distributors, EU, Manufacturers

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Yasmeen Al-Bader

Corporate Governance: 2024 Year-End Review

As 2025 begins, we cover several significant corporate governance developments that occurred in the second half of 2024 and since our Corporate Governance: 2024 Midyear Review was published in August. We first highlight… more

Corporate Governance, Corporate Transparency Act, Delaware, Enforcement Actions, FinCEN

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David Alexander

Connecticut Attorney General Imposes $85k Penalty on TicketNetwork for Defects in Its Privacy Notice

On July 8, 2025, Connecticut’s attorney general announced a settlement with TicketNetwork Inc. for failing to fix several privacy notice defects since 2023. The $85,000 fine is the first monetary penalty under the state’s… more

Consumer Financial Protection Bureau (CFPB), Consumer Protection Laws, Data Privacy, Enforcement Actions, Penalties

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Xavier Amadei

US Securities and Exchange Commission “Concept Release” on the definition of “Foreign Private Issuer”: The revisions could have significant impact on foreign private issuers accessing the US capital markets

On June 4, 2025, the US Securities and Exchange Commission (SEC) issued a “Concept Release” that will be of significant interest to our “foreign private issuer” (“FPI”) clients, their shareholders, and our investment banking… more

Capital Markets, Corporate Governance, Disclosure Requirements, Foreign Private Issuers, Proposed Rules

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Joy Amis

Insurers in the securitisation market: Prudential capital and risk transfer

The Basel Accords have, over time, shaped the development of the financial markets as different products become more or less attractive for banks to offer and businesses to take up on a risk-adjusted return basis. After the… more

Basel III, Insurance Industry, Prudential Regulation Authority (PRA), Risk Management, Securitization

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Paul Apáthy

HSF Kramer Bankruptcy & Restructuring Group Global reach, local knowledge

Debtors and creditors have options when choosing where to pursue a restructuring – particularly with operations across jurisdictions and debt instruments issued under different laws. Local knowledge is key to navigate those… more

Bankruptcy Court, Chapter 11, Commercial Bankruptcy, Creditors, Debt Restructuring

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Brandon Arnold

Contracting Around Section 1782 Discovery? Second Circuit Rules That Forum-selection Clauses May Weigh Against Discovery Applications Under 28 U.S.C. § 1782

In Banoka S.à.r.l. v. Elliott Management Corp., the Second Circuit recently held that a contractual forum-selection clause may weigh against an application for discovery under 28 U.S.C. § 1782 (Section 1782). 2025 WL 2166397 (2d… more

28 U.S.C. § 1782, Appellate Courts, Contract Terms, Discovery, Foreign Tribunals

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Sabesh Asokan

The UPC – Two Years On

The Unified Patent Court – a one-stop-shop for European patent litigation – is now two years old. As it enters its third year of operation, we look at the approach that is becoming established in the new system, drawing out key… more

Damages, Discovery, Enforcement, EU, Intellectual Property Protection

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Arthur Aufses III

California Supreme Court Confirms General Enforceability of Delaware Court of Chancery Forum Selection Clauses

Forum selection clauses have long been a feature of commercial contracting. Since then-Chancellor Strine’s decision in Boilermakers Local 154 Ret. Fund v. Chevron Corp., Delaware corporations have routinely included such clauses… more

Breach of Contract, Business Litigation, CA Supreme Court, Corporate Governance, Delaware

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Christopher Auguste

US Securities and Exchange Commission “Concept Release” on the definition of “Foreign Private Issuer”: The revisions could have significant impact on foreign private issuers accessing the US capital markets

On June 4, 2025, the US Securities and Exchange Commission (SEC) issued a “Concept Release” that will be of significant interest to our “foreign private issuer” (“FPI”) clients, their shareholders, and our investment banking… more

Capital Markets, Corporate Governance, Disclosure Requirements, Foreign Private Issuers, Proposed Rules

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Mark Baghdassarian

USPTO Withdraws Its Former Artificial Intelligence Strategy Document

We recently reported the USPTO’s publication on Jan. 14, 2025, of an artificial intelligence strategy document, just days before the appointment of new Acting Director Coke Morgan Stewart. Wasting no time, the USPTO has now… more

Artificial Intelligence, Biden Administration, Executive Orders, Innovation, Intellectual Property Protection

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Rose Hill Bagley

New York Court of Appeals Tightens Notice Requirements in RMBS Litigation

On March 17, 2022, the New York State Court of Appeals issued a significant decision affecting RMBS putback litigation governed by New York law. The decision, U.S. Bank National Association v. DLJ Mortgage Capital, 2022 WL… more

Mortgages, Notice Requirements, Representations and Warranties, Repurchases, RMBS

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Sara Balice

The UPC – Two Years On

The Unified Patent Court – a one-stop-shop for European patent litigation – is now two years old. As it enters its third year of operation, we look at the approach that is becoming established in the new system, drawing out key… more

Damages, Discovery, Enforcement, EU, Intellectual Property Protection

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Dinesh Banani

US Securities and Exchange Commission “Concept Release” on the definition of “Foreign Private Issuer”: The revisions could have significant impact on foreign private issuers accessing the US capital markets

On June 4, 2025, the US Securities and Exchange Commission (SEC) issued a “Concept Release” that will be of significant interest to our “foreign private issuer” (“FPI”) clients, their shareholders, and our investment banking… more

Capital Markets, Corporate Governance, Disclosure Requirements, Foreign Private Issuers, Proposed Rules

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Jillian Banks

Pause on Visa Appointments for Student and Exchange Visitor Visa Applicants as Social Media Vetting Expands

On May 27, 2025, the Trump administration ordered U.S. embassies and consulates to pause scheduling new visa appointments for student and exchange visitor applicants until an expanded social media screening and vetting process… more

Department of Homeland Security (DHS), Executive Orders, Foreign Nationals, Immigration Procedures, Immigration Reform

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Mark Bardell

Navigating Foreign Direct Investment Regulation: Defence

Defence, and the related military and dual-use sectors, encompasses activities supporting defensive and national security capabilities. While some of these activities may be defence-specific, others have applications in both the… more

Business Entities, Cross-Border Transactions, Defense Sector, Foreign Direct Investment, Foreign Investment

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Miles Bastick

2025 Employment and Workplace Relations in Australia Legal Guide

The Australian Herbert Smith Freehills Kramer Employment, Industrial Relations and Safety team help our clients achieve success across the full range of workplace issues. In truth, the legal and social environment has never been… more

Australia, Employee Rights, Employer Responsibilities, Employment Policies, International Labor Laws

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Andrew Baum

Second Circuit Limits Criminal Restitution Orders Under the Mandatory Victims Restitution Act: Expenses Associated With SEC Investigations Are Not Recoverable

On Feb. 25, 2022, the U.S. Court of Appeals for the Second Circuit held in United States v. Afriyie that restitution orders under the Mandatory Victims Restitution Act (MVRA) do not allow victims to recover attorneys’ fees… more

Criminal Investigations, Criminal Prosecution, Mandatory Victim's Restitution Act, Restitution, Rule 10b-5

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Mia Beagley

Takeovers Panel drops a suite of new considerations for voting intention statements

In the recent decision in Re Dropsuite Limited [2025] ATP 10, the Takeovers Panel concluded that a voting intention statement given by a substantial shareholder in the usual form was ‘ambiguous’ as to whether that shareholder… more

Acquisition Agreements, Australia, Corporate Governance, Corporate Sales Transactions, Disclosure Requirements

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Steve Bell

2025 Employment and Workplace Relations in Australia Legal Guide

The Australian Herbert Smith Freehills Kramer Employment, Industrial Relations and Safety team help our clients achieve success across the full range of workplace issues. In truth, the legal and social environment has never been… more

Australia, Employee Rights, Employer Responsibilities, Employment Policies, International Labor Laws

See all updates »

Michelle Ben-David

Corporate Governance: 2024 Year-End Review

As 2025 begins, we cover several significant corporate governance developments that occurred in the second half of 2024 and since our Corporate Governance: 2024 Midyear Review was published in August. We first highlight… more

Corporate Governance, Corporate Transparency Act, Delaware, Enforcement Actions, FinCEN

See all updates »

Sarah Benbow

New merger control regime - What you need to know for dealmaking

The Government has made the notification rules which determine the circumstances in which 2026 transactions will need to be notified to the Australian Competition and Consumer Commission (ACCC) under the new Part IVA of the… more

Acquisition Agreements, Australia, Australian Competition and Consumer Commission (ACCC), Corporate Sales Transactions, Exemptions

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David Benger

New Federal Law Criminalizes Nonconsensual Intimate Imagery and Mandates Swift Online Takedowns

On May 19, 2025, President Donald Trump signed into law the Tools to Address Known Exploitation by Immobilizing Technological Deepfakes on Websites and Networks Act, commonly referred to as the Take It Down Act (S.146) (the… more

Consent, Criminal Prosecution, Deep Fake, New Legislation, Online Platforms

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Charlotte Benton

Handy client guide to privilege

We have published a client guide to legal professional privilege under English law. This guide comprises: A decision tree: intended as a quick reference to help determine which documents can legitimately be withheld on grounds… more

Attorney-Client Privilege, Best Practices, Client Services, Confidential Information, Document Review

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David Berg

The End of LIBOR

On March 5, 2021, the ICE Benchmark Administration (IBA), UK Financial Conduct Authority (FCA) and International Swaps and Derivatives Association (ISDA) made important announcements regarding the timelines of the cessations of… more

Alternative Reference Rates Committee (ARRC), Benchmarks, Financial Conduct Authority (FCA), Financial Institutions, Interest Rates

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Daniel Ross Berman

Crossing Jurisdictions - Dealing With Tenant Insolvency in the European and US Commercial Real Estate Markets

The global commercial real estate market paints a varied picture, with certain jurisdictions and sectors recovering quicker than others from the COVID-19 pandemic and continuing geopolitical uncertainty. Higher interest rates… more

Commercial Bankruptcy, Commercial Real Estate Market, EU, France, Germany

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Ashland Bernard

Recent Chapter 15 Cases Show Potential for Non-Consensual Third-Party Releases Based Upon Foreign (Non-U.S.) Proceedings

Last year, the U.S. Supreme Court barred the use of nonconsensual third-party releases in Chapter 11 cases, holding that the Bankruptcy Code did not provide a basis to nonconsensually release claims against third parties (with a… more

Bankruptcy Code, Chapter 15, Comity, Creditors, Debtors

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John Bessonette

SEC Adopts Amendments to Rules Governing Beneficial Ownership Reporting

On Oct. 10, the U.S. Securities and Exchange Commission (SEC) adopted amendments to the rules governing beneficial ownership reporting under Sections 13(d) and 13(g) of the Securities Exchange Act of 1934 (Exchange Act). These… more

Amended Rules, Beneficial Owner, EDGAR, Reporting Requirements, Schedule 13D

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Rohit Biswas

USCIS to Consider “Anti-American” Activity in Adjudicating Certain Immigrant Benefit Requests

On August 19, 2025, U.S. Citizenship and Immigration Services (USCIS) announced that they have updated their policy manual regarding the discretionary factors that officers may consider in deciding whether to grant certain… more

Adjustment of Status, Corporate Counsel, Department of Homeland Security (DHS), Employment Authorization Documents (EAD), Foreign Nationals

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David Blabey Jr.

Subordination Agreements and Cramdown — Strict Enforcement or Rough Justice?

In the latest decision arising out of long-running disputes over confirmation of the Tribune Company’s Chapter 11 plan, the Third Circuit issued important new guidance concerning the enforceability of subordination agreements in… more

Bankruptcy Code, Chapter 11, Commercial Bankruptcy, Cramdown, Section 510

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Lucy Bochenek

2025 Employment and Workplace Relations in Australia Legal Guide

The Australian Herbert Smith Freehills Kramer Employment, Industrial Relations and Safety team help our clients achieve success across the full range of workplace issues. In truth, the legal and social environment has never been… more

Australia, Employee Rights, Employer Responsibilities, Employment Policies, International Labor Laws

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Dr Marius Boewe

Navigating Foreign Direct Investment Regulation: Defence

Defence, and the related military and dual-use sectors, encompasses activities supporting defensive and national security capabilities. While some of these activities may be defence-specific, others have applications in both the… more

Business Entities, Cross-Border Transactions, Defense Sector, Foreign Direct Investment, Foreign Investment

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Chloe Bootstaylor

Target Acquired: DOJ Strikes at Defense Contractors Over Cybersecurity Compliance and Pricing Issues

The U.S. Department of Defense (DOD) obligates about half a trillion dollars a year to private contractors for everything from high-end weapons and data systems to basic goods and services like fuel, shipping, food, and medical… more

Cybersecurity, Cybersecurity Maturity Model Certification (CMMC), Defense Sector, Department of Defense (DOD), Department of Justice (DOJ)

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Emily Bottle

The UPC – Two Years On

The Unified Patent Court – a one-stop-shop for European patent litigation – is now two years old. As it enters its third year of operation, we look at the approach that is becoming established in the new system, drawing out key… more

Damages, Discovery, Enforcement, EU, Intellectual Property Protection

See all updates »

Priscilla Bourne

AML/CTF reforms: Rules take shape with further Consultation

A quick recap on reforms affecting reporting entities The Amended AML/CTF Act removed the concept of "designated business groups" and replaced this with "reporting group". The concept of "reporting group" means that, if relevant… more

AML/CFT, Anti-Money Laundering, Business Entities, Disclosure Requirements, Financial Institutions

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Christopher Boyd

Observations on the 2024 CFIUS Annual Report

The Committee on Foreign Investment in the United States (CFIUS), the US foreign direct investment regulator, issues a report each year to the US Congress, detailing CFIUS’s reviews and investigations of foreign acquisitions of,… more

Acquisitions, CFIUS, Cross-Border Transactions, Enforcement Actions, Foreign Direct Investment

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Lucy Boyd

2025 Employment and Workplace Relations in Australia Legal Guide

The Australian Herbert Smith Freehills Kramer Employment, Industrial Relations and Safety team help our clients achieve success across the full range of workplace issues. In truth, the legal and social environment has never been… more

Australia, Employee Rights, Employer Responsibilities, Employment Policies, International Labor Laws

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Mitchell Brennan

2025 Employment and Workplace Relations in Australia Legal Guide

The Australian Herbert Smith Freehills Kramer Employment, Industrial Relations and Safety team help our clients achieve success across the full range of workplace issues. In truth, the legal and social environment has never been… more

Australia, Employee Rights, Employer Responsibilities, Employment Policies, International Labor Laws

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Paul Brzyski

Case Alert: Novolex v. Illinois Union Insurance, et al.

A recent summary judgment decision is noteworthy as one of the rare judicial opinions arising in the context of representations-and-warranties (R&W) insurance. On Jan. 12, 2024, in Novolex Holdings, LLC v. Illinois Union… more

Insurance Claims, Insurance Industry, Insurance Litigation, Policy Exclusions, Policy Terms

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Douglas Buckley

US Supreme Court Gives the Final Word: Denial of Lift Stay Motions Are Final and Immediately Appealable

The Bottom Line - The United States Supreme Court recently issued a unanimous decision in Ritzen Group, Inc. v. Jackson Masonry, LLC, No. 19-938 589 U.S. __ (2020), which held that a bankruptcy court’s unreserved denial of a… more

Appeals, Automatic Stay, Bankruptcy Court, Commercial Bankruptcy, Creditors

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Colin Bumby

Q&A With Deal Lawyer Colin Bumby

Tell us about your practice in the middle-market private equity space? I represent private equity funds and their portfolio companies in numerous equity transactions — mergers and acquisitions, divestitures, complex… more

Acquisitions, Financial Transactions, Investment Funds, Mergers, Private Equity

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Genevieve Burger-Weiser

New York State’s COVID-19 Sick Leave Law Will Sunset on July 31, 2025

As we previously reported, New York’s COVID-19 Sick Leave Law (amending N.Y. Lab. L. §196-b) will expire on July 31, 2025… more

Coronavirus/COVID-19, Employee Rights, Employer Responsibilities, New York, Paid Leave

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Paul Butcher

UK’s controversial foreign influence registration scheme looms – Banks and other businesses prepare The new regime aimed at protecting UK politics from foreign influence is set to go live 1 July, but its onerous requirements could make for unintended consequences

Almost two years since the National Security Act 2023 became law, on 1 July 2025 both tiers of the UK Government’s new Foreign Influence Registration Scheme (FIRS), will finally ‘go live’. Despite our own partially successful… more

Banks, Financial Services Industry, National Security, New Legislation, Penalties

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Alice Byowitz

Pension Plan Withdrawal Liability Takes Center Stage in Bankruptcy Judge's "Preliminary Observations"

A recent decision from the Bankruptcy Court for the District of Delaware in In re Yellow Corp. could have widespread implications for bankruptcy cases, including municipal bankruptcy cases. Of particular interest, the Judge… more

Bankruptcy Code, Bankruptcy Court, Commercial Bankruptcy, Creditors, Debtors

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Sam Bytheway

Clouds Over Blue Sky: High Court Limits Solicitors’ CFOs

On 6 August 2025 the High Court of Australia (High Court) unanimously held that at the time of settlement or judgment in a class action, the Federal Court of Australia (Federal Court) does not have the power to grant a… more

Access To Justice, Australia, Class Action, Contingency Fees, Jurisdiction

See all updates »

Kate Cahill

AML/CTF reforms: Rules take shape with further Consultation

A quick recap on reforms affecting reporting entities The Amended AML/CTF Act removed the concept of "designated business groups" and replaced this with "reporting group". The concept of "reporting group" means that, if relevant… more

AML/CFT, Anti-Money Laundering, Business Entities, Disclosure Requirements, Financial Institutions

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Avram Cahn

Implications for Benefit Plans of the End of the COVID-19 National Emergency and Public Health Emergency

On Monday, April 10, President Biden signed a congressional resolution immediately ending the COVID-19 National Emergency and he had previously announced that the COVID-19 Public Health Emergency (PHE) will expire on May 11. The… more

CARES Act, COBRA, Coronavirus/COVID-19, Department of Labor (DOL), Employee Benefits

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Iria Calviño

Navigating Foreign Direct Investment Regulation: Defence

Defence, and the related military and dual-use sectors, encompasses activities supporting defensive and national security capabilities. While some of these activities may be defence-specific, others have applications in both the… more

Business Entities, Cross-Border Transactions, Defense Sector, Foreign Direct Investment, Foreign Investment

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Matthew Cameron

2025 Employment and Workplace Relations in Australia Legal Guide

The Australian Herbert Smith Freehills Kramer Employment, Industrial Relations and Safety team help our clients achieve success across the full range of workplace issues. In truth, the legal and social environment has never been… more

Australia, Employee Rights, Employer Responsibilities, Employment Policies, International Labor Laws

See all updates »

Alfonso Campanella

The UPC – Two Years On

The Unified Patent Court – a one-stop-shop for European patent litigation – is now two years old. As it enters its third year of operation, we look at the approach that is becoming established in the new system, drawing out key… more

Damages, Discovery, Enforcement, EU, Intellectual Property Protection

See all updates »

Valerie Campbell

City Council Approves Midtown South Mixed-use Plan

On August 14, 2025, the New York City Council voted to approve the Midtown South Mixed-Use Plan, as modified by the City Council Land Use Committee… more

Affordable Housing, City Councils, Economic Development, Infrastructure, Mixed-Use Zoning

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Alyssa Canter

Ninth Circuit Addresses the Scope of Section 12(a)(2) Liability for Misleading Opinion Statements Under Omnicare

On June 10, 2025, the U.S. Court of Appeals for the Ninth Circuit Pino v. Cardone Capital, LLC reversed in part the dismissal of claims brought under the Securities Act of 1933 based on statements made in connection with two… more

Appeals, Disclosure Requirements, Enforcement Actions, Fraud, Investment

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Jonathan Canter

Tax Reform Update: Senate Bill Includes Key Win for Condominium Developers

On July 1, the Senate’s version of the “One Big Beautiful Bill” passed the Senate. Such bill included a new provision (not in the House bill) that would provide significant tax relief to condominium developers. The bill provides… more

Condominiums, Construction Contracts, Housing Developers, New Legislation, Real Estate Development

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Amy Canton

HSF Kramer Bankruptcy & Restructuring Group Global reach, local knowledge

Debtors and creditors have options when choosing where to pursue a restructuring – particularly with operations across jurisdictions and debt instruments issued under different laws. Local knowledge is key to navigate those… more

Bankruptcy Court, Chapter 11, Commercial Bankruptcy, Creditors, Debt Restructuring

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Jonathan Caplan

Less Is More — the Premise of the Biosimilar ‘Patent Thicket’ Bill

As part of a push to increase competition and lower drug prices, the U.S. Senate recently passed a bill that limits the number of patents that can be asserted in biosimilar litigation. The Affordable Prescriptions for Patients… more

Biologics, Biosimilars, BPCIA, Drug Pricing, Patent Infringement

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Pamela Capps

Tax Provisions in the One Big Beautiful Bill Act

On July 4, President Trump signed into law the One Big Beautiful Bill Act (the Act). While the Act covers a wide swath of territory, the core of the Act is its tax provisions. The Act (i) makes permanent many of the tax changes… more

Business Taxes, Clean Energy, Energy Projects, Estate Tax, Foreign Tax Credits

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Suzanne Carayol

The UPC – Two Years On

The Unified Patent Court – a one-stop-shop for European patent litigation – is now two years old. As it enters its third year of operation, we look at the approach that is becoming established in the new system, drawing out key… more

Damages, Discovery, Enforcement, EU, Intellectual Property Protection

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Nicholas Carney

Built to Last: The Resilient Infrastructure Challenge

As climate change, geopolitical instability, cyber threats and surging demand place more pressure on infrastructure, governments, investors and operators must rethink what it means for assets to be truly resilient… more

Climate Change, Cybersecurity, Geopolitical Risks, Infrastructure, Infrastructure Financing

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Fabien Carruzzo

ISDA Opens Consultation on Credit Derivatives DC Review – Key Takeaways as Broader Market Considers Commentary and Action

The International Swaps and Derivatives Association, Inc. (ISDA) recently commissioned law firm Linklaters to conduct an independent assessment of the function, governance and membership of the Credit Derivatives Determinations… more

Conflicts of Interest, Consultation, Derivatives, Financial Markets, ISDA

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Liza Carver

New merger control regime - What you need to know for dealmaking

The Government has made the notification rules which determine the circumstances in which 2026 transactions will need to be notified to the Australian Competition and Consumer Commission (ACCC) under the new Part IVA of the… more

Acquisition Agreements, Australia, Australian Competition and Consumer Commission (ACCC), Corporate Sales Transactions, Exemptions

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Hannah Cassidy

Hong Kong listing pathway for closed-ended alternative asset funds – our latest thoughts A recent SFC circular has generated interest among regional managers and international managers of funds listed abroad

A recent circular issued by the Hong Kong Securities and Futures Commission (SFC) has created a pathway to listing closed-ended alternative asset funds in Hong Kong, generating interest among both local private market… more

Alternative Investment Funds, Asset Management, Fund Managers, Hong Kong, Investment Funds

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Amy Caton

Chapter 15 Case Demonstrates Its Effectiveness as an Expedient Judicial Solution for Singaporean Insolvencies in the United States

Chapter 15 of the Bankruptcy Code (which is based upon the UNCITRAL Model Law on Cross-Border Insolvency) is designed to facilitate cross-border cooperation and coordination among courts during a pending bankruptcy or insolvency… more

Bankruptcy Code, Chapter 15, Commercial Bankruptcy, Cross-Border, Debtors

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Amelia Chammas

The UPC – Two Years On

The Unified Patent Court – a one-stop-shop for European patent litigation – is now two years old. As it enters its third year of operation, we look at the approach that is becoming established in the new system, drawing out key… more

Damages, Discovery, Enforcement, EU, Intellectual Property Protection

See all updates »

Malika Chandrasegaran

Asia Private Capital: Second-Quarter Data and Trends

Two quarters in, Asia's private capital market appears as uncertain as ever. Last year, we repeatedly heard two mantras. First, Asia's private capital market would grow at substantial rates and, second, that GP consolidation… more

Asia, Capital Markets, Exit Strategies, Institutional Investors, Investment Funds

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Andrew Charles

DealMakers: Private M&A Report Australia 2025

This exclusive report unpacks a sample of over 60 private M&A transactions led by our Dealmakers—offering data-driven insights into a dynamic year of strategic execution, sector shifts, and evolving deal structures… more

Acquisition Agreements, Australia, Contract Terms, Corporate Sales Transactions, Investment

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Mark Chass

The End of LIBOR

On March 5, 2021, the ICE Benchmark Administration (IBA), UK Financial Conduct Authority (FCA) and International Swaps and Derivatives Association (ISDA) made important announcements regarding the timelines of the cessations of… more

Alternative Reference Rates Committee (ARRC), Benchmarks, Financial Conduct Authority (FCA), Financial Institutions, Interest Rates

See all updates »

Edward Chen

Artificial Intelligence Quarterly Update

In this quarterly update, we review the latest developments in three subjects salient to corporate use of artificial intelligence (AI). First, we discuss the risks associated with AI, the case for board oversight and how the… more

Algorithms, Artificial Intelligence, Board of Directors, Copyright, Copyright Infringement

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Linda Chen

Case Alert: MALT Family Trust v. 777 Partners LLC

A recent decision from Delaware highlights the importance of expressly memorializing contracting parties’ understandings and expectations in M&A transactions involving contingent earnout consideration and/or rollover equity… more

Breach of Contract, Breach of Duty, Buyers, Fiduciary Duty, Sellers

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Peiwen Chen

Asia Private Capital: Second-Quarter Data and Trends

Two quarters in, Asia's private capital market appears as uncertain as ever. Last year, we repeatedly heard two mantras. First, Asia's private capital market would grow at substantial rates and, second, that GP consolidation… more

Asia, Capital Markets, Exit Strategies, Institutional Investors, Investment Funds

See all updates »

John Chetwood

Crossing Jurisdictions - Dealing With Tenant Insolvency in the European and US Commercial Real Estate Markets

The global commercial real estate market paints a varied picture, with certain jurisdictions and sectors recovering quicker than others from the COVID-19 pandemic and continuing geopolitical uncertainty. Higher interest rates… more

Commercial Bankruptcy, Commercial Real Estate Market, EU, France, Germany

See all updates »

Frédéric Chevallier

UPC Structure – local, regional and central divisions and Court of Appeal, Judges & Languages

The UPC has a Court of First Instance (divided into local, regional and central divisions) and a Court of Appeal (Luxembourg). Cases can commence in any one of these divisions according to the subject matter and the prescribed… more

Appeals, EU, France, Germany, Intellectual Property Protection

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Daniel Chia

HSF Kramer Bankruptcy & Restructuring Group Global reach, local knowledge

Debtors and creditors have options when choosing where to pursue a restructuring – particularly with operations across jurisdictions and debt instruments issued under different laws. Local knowledge is key to navigate those… more

Bankruptcy Court, Chapter 11, Commercial Bankruptcy, Creditors, Debt Restructuring

See all updates »

Dayna Chikamoto

[Webinar] Advertising Litigation Quarterly Highlights - October 12th, 12:30 pm - 1:30 pm EST

Join us for our Advertising Litigation Quarterly Highlights webinar series. Our Editorial Team will conduct a deep dive on key decisions of interest covered in our recent Advertising Litigation Reports… more

Advertising, Continuing Legal Education, False Advertising, Marketing, Webinars

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Kenneth Chin

The End of LIBOR

On March 5, 2021, the ICE Benchmark Administration (IBA), UK Financial Conduct Authority (FCA) and International Swaps and Derivatives Association (ISDA) made important announcements regarding the timelines of the cessations of… more

Alternative Reference Rates Committee (ARRC), Benchmarks, Financial Conduct Authority (FCA), Financial Institutions, Interest Rates

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Jessica Christy

Wells Fargo Fined $97.8 Million for Failing to Identify Sanctions Violations From a Legacy Wachovia Business

On March 30, federal regulators announced that Wells Fargo Bank had entered into settlements in which it agreed to pay $97.8 million in fines for enabling sanctions violations between 2010 and 2015. In two separate enforcement… more

Anti-Corruption, Economic Sanctions, Enforcement Actions, Foreign Corrupt Practices Act (FCPA), Office of Foreign Assets Control (OFAC)

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Leon Chung

AML/CTF reforms: Rules take shape with further Consultation

A quick recap on reforms affecting reporting entities The Amended AML/CTF Act removed the concept of "designated business groups" and replaced this with "reporting group". The concept of "reporting group" means that, if relevant… more

AML/CFT, Anti-Money Laundering, Business Entities, Disclosure Requirements, Financial Institutions

See all updates »

Dylan Churchill

The UPC – Two Years On

The Unified Patent Court – a one-stop-shop for European patent litigation – is now two years old. As it enters its third year of operation, we look at the approach that is becoming established in the new system, drawing out key… more

Damages, Discovery, Enforcement, EU, Intellectual Property Protection

See all updates »

Patrick Clark

New merger control regime - What you need to know for dealmaking

The Government has made the notification rules which determine the circumstances in which 2026 transactions will need to be notified to the Australian Competition and Consumer Commission (ACCC) under the new Part IVA of the… more

Acquisition Agreements, Australia, Australian Competition and Consumer Commission (ACCC), Corporate Sales Transactions, Exemptions

See all updates »

Boaz Cohen

Cybersecurity, Privacy and Data Protection 2022 Year in Review

The year 2022 saw a groundswell of interest in privacy rights and related legislation. Five states enacted new laws or regulations aimed at protecting a general right to privacy, while the U.S. government came closer than ever… more

Corporate Counsel, Cybersecurity, Data Privacy, Data Protection, Data Security

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Jeffrey Coleman Ph.D.

Less Is More — the Premise of the Biosimilar ‘Patent Thicket’ Bill

As part of a push to increase competition and lower drug prices, the U.S. Senate recently passed a bill that limits the number of patents that can be asserted in biosimilar litigation. The Affordable Prescriptions for Patients… more

Biologics, Biosimilars, BPCIA, Drug Pricing, Patent Infringement

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Thomas Constance

NYSE Proposes Amendments to Its Related Party and 20% Shareholder Approval Rules

On Dec. 28, 2020, the New York Stock Exchange (NYSE) proposed amendments to its rules requiring shareholder approval prior to the issuance of securities to Related Parties or in excess of 20% of the issuer’s voting power or… more

20% Rule, Listing Rules, NYSE, Publicly-Traded Companies, Regulatory Agenda

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Julian Copeman

Handy client guide to privilege

We have published a client guide to legal professional privilege under English law. This guide comprises: A decision tree: intended as a quick reference to help determine which documents can legitimately be withheld on grounds… more

Attorney-Client Privilege, Best Practices, Client Services, Confidential Information, Document Review

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Antony Crockett

Australian Government Seeks Comments on Changes to the Modern Slavery Act

As the Australian Government seeks to strengthen the transparency and effectiveness of the Modern Slavery Act (the Act), a series of reviews and responses have been conducted. In May 2023, conclusions from the first statutory… more

Australia, Consultation, Modern Slavery Act, Penalties, Public Comment

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Phoebe Curnick

2025 Employment and Workplace Relations in Australia Legal Guide

The Australian Herbert Smith Freehills Kramer Employment, Industrial Relations and Safety team help our clients achieve success across the full range of workplace issues. In truth, the legal and social environment has never been… more

Australia, Employee Rights, Employer Responsibilities, Employment Policies, International Labor Laws

See all updates »

Rachel Czwartacky

New EU Directive Puts ‘Sustainability’ Due Diligence Center Stage

The long-awaited EU Corporate Sustainability Due Diligence Directive (CS3D or CSDDD) was adopted May 24, 2024, by decision of the European Council, following approval by the European Parliament one month earlier… more

Climate Change, Corporate Governance, Due Diligence, EU, Sustainability

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Rita Celebrezze D'Souza

Tax Provisions in the One Big Beautiful Bill Act

On July 4, President Trump signed into law the One Big Beautiful Bill Act (the Act). While the Act covers a wide swath of territory, the core of the Act is its tax provisions. The Act (i) makes permanent many of the tax changes… more

Business Taxes, Clean Energy, Energy Projects, Estate Tax, Foreign Tax Credits

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Casey Dalton

Luxembourg: Explaining the New Carried Interest Tax Regime

On 24 July 2025, the Luxembourg government introduced Bill No. 8590 (the Bill), which proposes a new competitive carried interest tax regime with the stated objectives being: to create a legal framework that fosters the growth… more

Alternative Investment Funds, Carried Interest, Fund Managers, Investment Funds, Luxembourg

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Peter Dalton

The UPC – Two Years On

The Unified Patent Court – a one-stop-shop for European patent litigation – is now two years old. As it enters its third year of operation, we look at the approach that is becoming established in the new system, drawing out key… more

Damages, Discovery, Enforcement, EU, Intellectual Property Protection

See all updates »

Natasha Daniell

The UPC – Two Years On

The Unified Patent Court – a one-stop-shop for European patent litigation – is now two years old. As it enters its third year of operation, we look at the approach that is becoming established in the new system, drawing out key… more

Damages, Discovery, Enforcement, EU, Intellectual Property Protection

See all updates »

Jeffrey Davis

Commercial Leases in New York: Enforcement Is on Pause, but Negotiations Should Be Ongoing

New York courts are resuming some operations, but eviction proceedings, including for violations of commercial leases, are still suspended. However, those contracts — and the obligations they created — still exist… more

Commercial Leases, Commercial Tenants, Contract Negotiations, Contract Terms, Coronavirus/COVID-19

See all updates »

Rachel Dawson

2025 Employment and Workplace Relations in Australia Legal Guide

The Australian Herbert Smith Freehills Kramer Employment, Industrial Relations and Safety team help our clients achieve success across the full range of workplace issues. In truth, the legal and social environment has never been… more

Australia, Employee Rights, Employer Responsibilities, Employment Policies, International Labor Laws

See all updates »

Nicole De Bare

COVID-19 Update: NYS Department of Law Modifies Submission Requirements for Condo and Co-op Offering Plans and Amendments

On March 25, the State of New York Department of Law (DOL) issued a policy memorandum temporarily modifying certain submission requirements for condominium and cooperative offering plans and amendments thereto… more

Condominiums, Coronavirus/COVID-19, Regulatory Requirements, Relief Measures

See all updates »

Beatriz del Rey

UK Securitisation Framework Update

The UK Securitisation Framework came into force on 1 November 2024 and revoked the previous EU legislation that had been retained under UK law ("Previous UK SR"). The new regime represents a significant shift in the way that… more

Capital Markets, EU, Financial Institutions, Financial Regulatory Reform, Financial Services Industry

See all updates »

Darina Delappe

US Supreme Court Grants Certiorari to Decide Whether Section 47(b) of the Investment Company Act Allows for a Private Right of Action

On June 30, 2025, the Supreme Court granted certiorari in FS Credit Opportunities Corp., et al. v. Saba Capital Master Fund, Ltd., et al., 24-345 to resolve a circuit split over whether Section 47(b) of the Investment Company… more

Appeals, Contract Disputes, Investment Company Act of 1940, Investment Funds, Private Right of Action

See all updates »

Michael Dell

Delaware Court of Chancery Determines That the Duty of Oversight Applies to Corporate Officers

For almost 30 years, the Delaware courts have held that corporate directors are charged with a fiduciary duty of “oversight.” Directors must make sure that their corporations both (1) implement reasonable information and… more

Board of Directors, Corporate Governance, Corporate Officers, DE Supreme Court, Delaware General Corporation Law

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Vincent Denoyelle

Accessibility Directive: Final countdown before application on 28 June 2025 - Businesses will be required to comply with new requirements across the EU on a broad range of products and services

On 28 June 2025, businesses will be required to comply with accessibility requirements applicable across the European Union (EU) for a broad range of products and services. These obligations stem from Directive (EU) 2019/882 on… more

Accessibility Rules, Disability Discrimination, Distributors, EU, Manufacturers

See all updates »

Daniel DePasquale

Strategies for Preparing the New Hart-Scott-Rodino Forms

On Feb. 10, 2025, the new premerger notification and report forms under the Hart-Scott-Rodino (HSR) Act became effective. The new HSR forms make significant changes to the reporting obligations of both acquiring and acquired… more

Acquisitions, Antitrust Provisions, Competition, Department of Justice (DOJ), Federal Trade Commission (FTC)

See all updates »

Philippe Desvignes

Insurers in the securitisation market: Prudential capital and risk transfer

The Basel Accords have, over time, shaped the development of the financial markets as different products become more or less attractive for banks to offer and businesses to take up on a risk-adjusted return basis. After the… more

Basel III, Insurance Industry, Prudential Regulation Authority (PRA), Risk Management, Securitization

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Tomás Díaz Mielenhausen

Crossing Jurisdictions - Dealing With Tenant Insolvency in the European and US Commercial Real Estate Markets

The global commercial real estate market paints a varied picture, with certain jurisdictions and sectors recovering quicker than others from the COVID-19 pandemic and continuing geopolitical uncertainty. Higher interest rates… more

Commercial Bankruptcy, Commercial Real Estate Market, EU, France, Germany

See all updates »

Abbe Dienstag

Strategies for Preparing the New Hart-Scott-Rodino Forms

On Feb. 10, 2025, the new premerger notification and report forms under the Hart-Scott-Rodino (HSR) Act became effective. The new HSR forms make significant changes to the reporting obligations of both acquiring and acquired… more

Acquisitions, Antitrust Provisions, Competition, Department of Justice (DOJ), Federal Trade Commission (FTC)

See all updates »

Kim Dietzel

Certification Tracker of UK Competition Class Actions (CPO Applications) Filed at the Competition Appeal Tribunal

The graphic below tracks the number of competition class actions (CPO applications) filed at the Competition Appeal Tribunal (CAT) since the introduction of a new 'opt-out' regime in the UK in October 2015, as well as the… more

Antitrust Litigation, Certification Requirements, Class Action, Class Certification, Competition

See all updates »

Stephen Dobbs

Navigating Foreign Direct Investment Regulation: Defence

Defence, and the related military and dual-use sectors, encompasses activities supporting defensive and national security capabilities. While some of these activities may be defence-specific, others have applications in both the… more

Business Entities, Cross-Border Transactions, Defense Sector, Foreign Direct Investment, Foreign Investment

See all updates »

Rohan Doyle

2025 Employment and Workplace Relations in Australia Legal Guide

The Australian Herbert Smith Freehills Kramer Employment, Industrial Relations and Safety team help our clients achieve success across the full range of workplace issues. In truth, the legal and social environment has never been… more

Australia, Employee Rights, Employer Responsibilities, Employment Policies, International Labor Laws

See all updates »

Melissa Drennan

USCIS to Consider “Anti-American” Activity in Adjudicating Certain Immigrant Benefit Requests

On August 19, 2025, U.S. Citizenship and Immigration Services (USCIS) announced that they have updated their policy manual regarding the discretionary factors that officers may consider in deciding whether to grant certain… more

Adjustment of Status, Corporate Counsel, Department of Homeland Security (DHS), Employment Authorization Documents (EAD), Foreign Nationals

See all updates »

Gary Dreyer

Third Circuit Chides SEC for Terse Refusal To Engage in Crypto Rulemaking

On Jan. 13, 2025, a unanimous panel of the U.S. Court of Appeals for the Third Circuit held that the Securities and Exchange Commission (SEC or the Commission) violated the Administrative Procedure Act (APA) when it offered only… more

Administrative Procedure Act, Constitutional Challenges, Cryptocurrency, Digital Assets, Due Process

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Matthew Dunn

USCIS to Consider “Anti-American” Activity in Adjudicating Certain Immigrant Benefit Requests

On August 19, 2025, U.S. Citizenship and Immigration Services (USCIS) announced that they have updated their policy manual regarding the discretionary factors that officers may consider in deciding whether to grant certain… more

Adjustment of Status, Corporate Counsel, Department of Homeland Security (DHS), Employment Authorization Documents (EAD), Foreign Nationals

See all updates »

Julie Dussaix

The UPC – Two Years On

The Unified Patent Court – a one-stop-shop for European patent litigation – is now two years old. As it enters its third year of operation, we look at the approach that is becoming established in the new system, drawing out key… more

Damages, Discovery, Enforcement, EU, Intellectual Property Protection

See all updates »

Scott Eckl

Corporate Governance: 2024 Year-End Review

As 2025 begins, we cover several significant corporate governance developments that occurred in the second half of 2024 and since our Corporate Governance: 2024 Midyear Review was published in August. We first highlight… more

Corporate Governance, Corporate Transparency Act, Delaware, Enforcement Actions, FinCEN

See all updates »

Kenneth Eckstein

HSF Kramer Bankruptcy & Restructuring Group Global reach, local knowledge

Debtors and creditors have options when choosing where to pursue a restructuring – particularly with operations across jurisdictions and debt instruments issued under different laws. Local knowledge is key to navigate those… more

Bankruptcy Court, Chapter 11, Commercial Bankruptcy, Creditors, Debt Restructuring

See all updates »

Frances Edwards

Crossing Jurisdictions - Dealing With Tenant Insolvency in the European and US Commercial Real Estate Markets

The global commercial real estate market paints a varied picture, with certain jurisdictions and sectors recovering quicker than others from the COVID-19 pandemic and continuing geopolitical uncertainty. Higher interest rates… more

Commercial Bankruptcy, Commercial Real Estate Market, EU, France, Germany

See all updates »

Daniel Eggermann

ISDA Opens Consultation on Credit Derivatives DC Review – Key Takeaways as Broader Market Considers Commentary and Action

The International Swaps and Derivatives Association, Inc. (ISDA) recently commissioned law firm Linklaters to conduct an independent assessment of the function, governance and membership of the Credit Derivatives Determinations… more

Conflicts of Interest, Consultation, Derivatives, Financial Markets, ISDA

See all updates »

Toby Eggleston

Earnout structures: Bridging valuation gaps in M&A – beware the tax complexity

With an observable increase in the use of earnout and contingent consideration structures in M&A, it is timely to consider the related tax complexity. In brief Our recent Private M&A Report highlights a rise in the use of… more

Acquisitions, Buyers, Capital Gains, Corporate Taxes, Earn-Outs

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Gabriel Eisenberger

New York Bankruptcy Court Raises the Cost of Keeping Funded Debt: Debtor Needs to Pay Default Interest Rate in Reinstatement of Accelerated Debt

What Happened? One fundamental question in any restructuring relates to the treatment of funded debt obligations, like mortgages. When the cost of prepetition debt is higher than the prevailing market rates, a debtor may… more

Commercial Bankruptcy, Debt Restructuring, Default, Interest Rates, Mortgages

See all updates »

Jaedyn Ellis

Corporate Governance: 2024 Year-End Review

As 2025 begins, we cover several significant corporate governance developments that occurred in the second half of 2024 and since our Corporate Governance: 2024 Midyear Review was published in August. We first highlight… more

Corporate Governance, Corporate Transparency Act, Delaware, Enforcement Actions, FinCEN

See all updates »

Justin Ellison

DOJ Issues Guidance on ‘Unlawful’ Employer DEI Policies, Programs and Practices

As discussed in our prior alert and seen in numerous actions undertaken since the Trump administration took office, employers should expect significant changes to the federal government’s antidiscrimination enforcement policies… more

Affirmative Action, Anti-Discrimination Policies, Department of Justice (DOJ), Diversity and Inclusion Standards (D&I), Employment Discrimination

See all updates »

Matthew Emsley

Hong Kong listing pathway for closed-ended alternative asset funds – our latest thoughts A recent SFC circular has generated interest among regional managers and international managers of funds listed abroad

A recent circular issued by the Hong Kong Securities and Futures Commission (SFC) has created a pathway to listing closed-ended alternative asset funds in Hong Kong, generating interest among both local private market… more

Alternative Investment Funds, Asset Management, Fund Managers, Hong Kong, Investment Funds

See all updates »

Roy Englert Jr.

US Supreme Court Grants Certiorari to Decide Whether Section 47(b) of the Investment Company Act Allows for a Private Right of Action

On June 30, 2025, the Supreme Court granted certiorari in FS Credit Opportunities Corp., et al. v. Saba Capital Master Fund, Ltd., et al., 24-345 to resolve a circuit split over whether Section 47(b) of the Investment Company… more

Appeals, Contract Disputes, Investment Company Act of 1940, Investment Funds, Private Right of Action

See all updates »

Linda Evans

'The World Has Changed' – What's Next for Global Trade?

The main lesson is the world has changed and the rules of international trade will no longer be those that we have known in the past… more

International Trade, Supply Chain, Tariffs, Trade Policy, Trade Relations

See all updates »

Joseph Falcone

Observations on the 2024 CFIUS Annual Report

The Committee on Foreign Investment in the United States (CFIUS), the US foreign direct investment regulator, issues a report each year to the US Congress, detailing CFIUS’s reviews and investigations of foreign acquisitions of,… more

Acquisitions, CFIUS, Cross-Border Transactions, Enforcement Actions, Foreign Direct Investment

See all updates »

Jojo Fan

HSF Kramer Bankruptcy & Restructuring Group Global reach, local knowledge

Debtors and creditors have options when choosing where to pursue a restructuring – particularly with operations across jurisdictions and debt instruments issued under different laws. Local knowledge is key to navigate those… more

Bankruptcy Court, Chapter 11, Commercial Bankruptcy, Creditors, Debt Restructuring

See all updates »

Richard Farley

Court Dismisses Stockholder Suit Against Meta: Affirms a Firm-Specific Model of Corporate Management

On April 30, 2024, the Delaware Court of Chancery dismissed a stockholder lawsuit against social media giant Meta Platforms, Inc., its board of directors and company founder, Mark Zuckerberg. The decision rejected novel claims… more

Board of Directors, Breach of Duty, Fiduciary Duty, Investors, Shareholders

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Nigel Farr

Hong Kong listing pathway for closed-ended alternative asset funds – our latest thoughts A recent SFC circular has generated interest among regional managers and international managers of funds listed abroad

A recent circular issued by the Hong Kong Securities and Futures Commission (SFC) has created a pathway to listing closed-ended alternative asset funds in Hong Kong, generating interest among both local private market… more

Alternative Investment Funds, Asset Management, Fund Managers, Hong Kong, Investment Funds

See all updates »

Dean Farrant

2025 Employment and Workplace Relations in Australia Legal Guide

The Australian Herbert Smith Freehills Kramer Employment, Industrial Relations and Safety team help our clients achieve success across the full range of workplace issues. In truth, the legal and social environment has never been… more

Australia, Employee Rights, Employer Responsibilities, Employment Policies, International Labor Laws

See all updates »

George Farrugia

2025 Employment and Workplace Relations in Australia Legal Guide

The Australian Herbert Smith Freehills Kramer Employment, Industrial Relations and Safety team help our clients achieve success across the full range of workplace issues. In truth, the legal and social environment has never been… more

Australia, Employee Rights, Employer Responsibilities, Employment Policies, International Labor Laws

See all updates »

Rachael Fassler

The Supreme Court rules that individuals who no longer hold or seek to hold a job do not have standing to sue under the ADA for intentional discrimination

On June 20, 2025, the U.S. Supreme Court (SCOTUS) held in Stanley v. City of Sanford, Florida that a retired employee who could no longer hold or seek to hold her job could not sue under the Americans with Disabilities Act (ADA)… more

Americans with Disabilities Act (ADA), Disability Discrimination, Employee Benefits, Employees, Employer Liability Issues

See all updates »

Wendy Fauvel

2025 Employment and Workplace Relations in Australia Legal Guide

The Australian Herbert Smith Freehills Kramer Employment, Industrial Relations and Safety team help our clients achieve success across the full range of workplace issues. In truth, the legal and social environment has never been… more

Australia, Employee Rights, Employer Responsibilities, Employment Policies, International Labor Laws

See all updates »

Marco Fedeli

2025 Employment and Workplace Relations in Australia Legal Guide

The Australian Herbert Smith Freehills Kramer Employment, Industrial Relations and Safety team help our clients achieve success across the full range of workplace issues. In truth, the legal and social environment has never been… more

Australia, Employee Rights, Employer Responsibilities, Employment Policies, International Labor Laws

See all updates »

Dr Ina vom Feld

The UPC – Two Years On

The Unified Patent Court – a one-stop-shop for European patent litigation – is now two years old. As it enters its third year of operation, we look at the approach that is becoming established in the new system, drawing out key… more

Damages, Discovery, Enforcement, EU, Intellectual Property Protection

See all updates »

Nicole Fenton

ULI New York Hosts Sold-Out Access to Capital Event, Bringing Challenges for Diverse Developers to the Forefront of Industry Conversations

Earlier this month, the Urban Land Institute (ULI) New York hosted a sold-out program, “Creating the Roadmap: Access to Capital.” The event, which consisted of two distinct panel sessions followed by more-intimate roundtable… more

Housing Developers, Land Developers, Real Estate Development, Urban Planning & Development

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Zachary Ferguson

Contracting Around Section 1782 Discovery? Second Circuit Rules That Forum-selection Clauses May Weigh Against Discovery Applications Under 28 U.S.C. § 1782

In Banoka S.à.r.l. v. Elliott Management Corp., the Second Circuit recently held that a contractual forum-selection clause may weigh against an application for discovery under 28 U.S.C. § 1782 (Section 1782). 2025 WL 2166397 (2d… more

28 U.S.C. § 1782, Appellate Courts, Contract Terms, Discovery, Foreign Tribunals

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Michael Feuer

COVID-19 Update: New York Permits “Virtual” Notarization Due to Coronavirus

On March 19, 2020, Governor Andrew Cuomo issued an executive order permitting documents to be notarized utilizing audio-video technology through April 18, 2020. Pursuant to the executive order, any notarial act required under… more

Coronavirus/COVID-19, E-Signatures, Electronic Notarization Standard, Emergency Management Plans, Executive Orders

See all updates »

Zachary Fields

US Federal Judges Back AI Training as Fair Use — but Questions Remain

In consecutive decisions last week, two federal judges in California issued landmark rulings in favor of generative artificial intelligence (AI) developers, finding that their use of copyrighted books to train large language… more

Algorithms, Artificial Intelligence, Copyright, Copyright Infringement, Fair Use

See all updates »

Victoria Fijalski

2025 Employment and Workplace Relations in Australia Legal Guide

The Australian Herbert Smith Freehills Kramer Employment, Industrial Relations and Safety team help our clients achieve success across the full range of workplace issues. In truth, the legal and social environment has never been… more

Australia, Employee Rights, Employer Responsibilities, Employment Policies, International Labor Laws

See all updates »

Toni Finger

LL97: Countdown to Compliance

The first compliance period for building owners under Local Law 97 (LL97), New York City’s (NYC) landmark climate change legislation, began this year on Jan. 1. Subject to limited exceptions, property owners are required to… more

Energy Conservation, Greenhouse Gas Emissions, Investment, Property Owners, Real Estate Transactions

See all updates »

David Fisher

The End of LIBOR

On March 5, 2021, the ICE Benchmark Administration (IBA), UK Financial Conduct Authority (FCA) and International Swaps and Derivatives Association (ISDA) made important announcements regarding the timelines of the cessations of… more

Alternative Reference Rates Committee (ARRC), Benchmarks, Financial Conduct Authority (FCA), Financial Institutions, Interest Rates

See all updates »

Jordan Fisher

Consulting the Crystal Ball — What Employers Can Anticipate in 2025

With Inauguration Day now behind us and a new presidential administration taking control, employers should expect significant changes to many aspects of the federal government’s administrative agenda under a second Donald Trump… more

Corporate Counsel, Department of Labor (DOL), Diversity and Inclusion Standards (D&I), Employment Contract, Fair Labor Standards Act (FLSA)

See all updates »

Samantha Ford

COVID-19 Update: New York Permits “Virtual” Notarization Due to Coronavirus

On March 19, 2020, Governor Andrew Cuomo issued an executive order permitting documents to be notarized utilizing audio-video technology through April 18, 2020. Pursuant to the executive order, any notarial act required under… more

Coronavirus/COVID-19, E-Signatures, Electronic Notarization Standard, Emergency Management Plans, Executive Orders

See all updates »

Kyriakos Fountoukakos

Navigating Foreign Direct Investment Regulation: Defence

Defence, and the related military and dual-use sectors, encompasses activities supporting defensive and national security capabilities. While some of these activities may be defence-specific, others have applications in both the… more

Business Entities, Cross-Border Transactions, Defense Sector, Foreign Direct Investment, Foreign Investment

See all updates »

William Fox

Updates to Registration Requirement for Foreign Nationals

Effective April 11, 2025, an Interim Final Rule promulgated by the Department of Homeland Security (DHS) amends existing regulations to require certain foreign nationals to complete a new online registration form, as well as to… more

Department of Homeland Security (DHS), Final Rules, Foreign Nationals, Immigration Procedures, Interim Final Rules (IFR)

See all updates »

Aaron Frankel

US Federal Judges Back AI Training as Fair Use — but Questions Remain

In consecutive decisions last week, two federal judges in California issued landmark rulings in favor of generative artificial intelligence (AI) developers, finding that their use of copyrighted books to train large language… more

Algorithms, Artificial Intelligence, Copyright, Copyright Infringement, Fair Use

See all updates »

Alan Friedman

California Supreme Court Confirms General Enforceability of Delaware Court of Chancery Forum Selection Clauses

Forum selection clauses have long been a feature of commercial contracting. Since then-Chancellor Strine’s decision in Boilermakers Local 154 Ret. Fund v. Chevron Corp., Delaware corporations have routinely included such clauses… more

Breach of Contract, Business Litigation, CA Supreme Court, Corporate Governance, Delaware

See all updates »

Yashvi Ganeriwala

Artificial Intelligence – 2024 Year in Review

The year 2024 witnessed significant developments in the legal landscape governing artificial intelligence (AI). Three states passed comprehensive AI legislation, with others passing multiple laws that regulate certain AI uses… more

Artificial Intelligence, Colorado, Cybersecurity, Department of Justice (DOJ), Disclosure Requirements

See all updates »

Caroline Gange

Texas Bankruptcy Court Allows Make-Whole Premiums, Post-Petition Interest on Unsecured Claims at Contractual Default Rate

On Oct. 26, in a highly anticipated decision, the Bankruptcy Court for the Southern District of Texas, In re Ultra Petroleum Corp. Corp., et al., Case No. 16-32202 (Bankr. S.D. Tex. 2020), held that certain noteholders were… more

Bankruptcy Code, Chapter 11, Commercial Bankruptcy, Creditors, Debtors

See all updates »

Natalie Gaspar

2025 Employment and Workplace Relations in Australia Legal Guide

The Australian Herbert Smith Freehills Kramer Employment, Industrial Relations and Safety team help our clients achieve success across the full range of workplace issues. In truth, the legal and social environment has never been… more

Australia, Employee Rights, Employer Responsibilities, Employment Policies, International Labor Laws

See all updates »

Patrick Gay

New merger control regime - What you need to know for dealmaking

The Government has made the notification rules which determine the circumstances in which 2026 transactions will need to be notified to the Australian Competition and Consumer Commission (ACCC) under the new Part IVA of the… more

Acquisition Agreements, Australia, Australian Competition and Consumer Commission (ACCC), Corporate Sales Transactions, Exemptions

See all updates »

Maged Girgis

2025 Employment and Workplace Relations in Australia Legal Guide

The Australian Herbert Smith Freehills Kramer Employment, Industrial Relations and Safety team help our clients achieve success across the full range of workplace issues. In truth, the legal and social environment has never been… more

Australia, Employee Rights, Employer Responsibilities, Employment Policies, International Labor Laws

See all updates »

Melissa Gladstone

Clouds Over Blue Sky: High Court Limits Solicitors’ CFOs

On 6 August 2025 the High Court of Australia (High Court) unanimously held that at the time of settlement or judgment in a class action, the Federal Court of Australia (Federal Court) does not have the power to grant a… more

Access To Justice, Australia, Class Action, Contingency Fees, Jurisdiction

See all updates »

James Godman

Kramer Levin Hosts Program With NYCEDC, Related Companies and Vornado to Detail NYC’s Top Economic Development and Investment Opportunities

Kramer Levin hosted a full room of New York City real estate executives for a special event titled “NYC Economic Development Outlook: Investment Opportunities Changing the Market” at the Kramer Levin Multimedia Conference Center… more

Offshore Wind, Real Estate Development, Real Estate Investments, Real Estate Market

See all updates »

Daniel Goldman

'The World Has Changed' – What's Next for Global Trade?

The main lesson is the world has changed and the rules of international trade will no longer be those that we have known in the past… more

International Trade, Supply Chain, Tariffs, Trade Policy, Trade Relations

See all updates »

Hillel Goldstein

New York’s LLC Transparency Act Has Been Amended

A new statute in New York, entitled the LLC Transparency Act (the NY LLCTA), originally signed into law by Gov. Kathy Hochul on Dec. 23, 2023, was amended on March 1, 2024. As noted in our previous client alert discussing the NY… more

Limited Liability Company (LLC), New York, State and Local Government, Transparency

See all updates »

Tim Gollan

The UPC – Two Years On

The Unified Patent Court – a one-stop-shop for European patent litigation – is now two years old. As it enters its third year of operation, we look at the approach that is becoming established in the new system, drawing out key… more

Damages, Discovery, Enforcement, EU, Intellectual Property Protection

See all updates »

Michael Gonski

2025 Employment and Workplace Relations in Australia Legal Guide

The Australian Herbert Smith Freehills Kramer Employment, Industrial Relations and Safety team help our clients achieve success across the full range of workplace issues. In truth, the legal and social environment has never been… more

Australia, Employee Rights, Employer Responsibilities, Employment Policies, International Labor Laws

See all updates »

Jonathan Goodman

Corporate Governance: 2024 Year-End Review

As 2025 begins, we cover several significant corporate governance developments that occurred in the second half of 2024 and since our Corporate Governance: 2024 Midyear Review was published in August. We first highlight… more

Corporate Governance, Corporate Transparency Act, Delaware, Enforcement Actions, FinCEN

See all updates »

Scott Gorski

USCIS to Consider “Anti-American” Activity in Adjudicating Certain Immigrant Benefit Requests

On August 19, 2025, U.S. Citizenship and Immigration Services (USCIS) announced that they have updated their policy manual regarding the discretionary factors that officers may consider in deciding whether to grant certain… more

Adjustment of Status, Corporate Counsel, Department of Homeland Security (DHS), Employment Authorization Documents (EAD), Foreign Nationals

See all updates »

Allison Gray

USCIS to Consider “Anti-American” Activity in Adjudicating Certain Immigrant Benefit Requests

On August 19, 2025, U.S. Citizenship and Immigration Services (USCIS) announced that they have updated their policy manual regarding the discretionary factors that officers may consider in deciding whether to grant certain… more

Adjustment of Status, Corporate Counsel, Department of Homeland Security (DHS), Employment Authorization Documents (EAD), Foreign Nationals

See all updates »

Ronald Greenberg

New York’s Highest Court Finds That Federal Bankruptcy Law Does Not Preempt State Law Tortious Interference Claims in Important Case

On Nov. 24, 2020, the State of New York Court of Appeals ruled in favor of Kramer Levin client Sutton 58 Associates LLC (Sutton), an affiliate of Gamma Real Estate, in its $100 million lawsuit brought against real estate… more

Bankruptcy Code, Business Litigation, Commercial Bankruptcy, Loan Agreements, Preemption

See all updates »

Katherine Gregor

The Network Behind the Wheels: Communications Laws and the Future of Connected and Autonomous Vehicles

As connected and autonomous vehicle (CAV) technologies continue to advance, governments across Australia are beginning to reshape infrastructure policy to support CAV integration into broader transport systems. Many states have… more

5G Network, Australia, Connected Cars, Driverless Cars, Infrastructure

See all updates »

James Greilsheimer

City Council Approves Midtown South Mixed-use Plan

On August 14, 2025, the New York City Council voted to approve the Midtown South Mixed-Use Plan, as modified by the City Council Land Use Committee… more

Affordable Housing, City Councils, Economic Development, Infrastructure, Mixed-Use Zoning

See all updates »

Natan Hamerman

Crossing Jurisdictions - Dealing With Tenant Insolvency in the European and US Commercial Real Estate Markets

The global commercial real estate market paints a varied picture, with certain jurisdictions and sectors recovering quicker than others from the COVID-19 pandemic and continuing geopolitical uncertainty. Higher interest rates… more

Commercial Bankruptcy, Commercial Real Estate Market, EU, France, Germany

See all updates »

Jordan Hardinge

2025 Employment and Workplace Relations in Australia Legal Guide

The Australian Herbert Smith Freehills Kramer Employment, Industrial Relations and Safety team help our clients achieve success across the full range of workplace issues. In truth, the legal and social environment has never been… more

Australia, Employee Rights, Employer Responsibilities, Employment Policies, International Labor Laws

See all updates »

Malcolm Harvey

The UPC – Two Years On

The Unified Patent Court – a one-stop-shop for European patent litigation – is now two years old. As it enters its third year of operation, we look at the approach that is becoming established in the new system, drawing out key… more

Damages, Discovery, Enforcement, EU, Intellectual Property Protection

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Vincent Hatton

Insurers in the securitisation market: Prudential capital and risk transfer

The Basel Accords have, over time, shaped the development of the financial markets as different products become more or less attractive for banks to offer and businesses to take up on a risk-adjusted return basis. After the… more

Basel III, Insurance Industry, Prudential Regulation Authority (PRA), Risk Management, Securitization

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Aaron Hayward

Australian Productivity Commission Proposes Text & Data Mining Exception to Copyright Infringement for AI Training

In response to a request to identify ‘priority reforms’ under the Australian Government’s productivity growth agenda, on 5 August 2025 the Productivity Commission released an interim report entitled Harnessing data and digital… more

Artificial Intelligence, Australia, Copyright, Copyright Infringement, Data Mining

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Nick Heggart

Earnout structures: Bridging valuation gaps in M&A – beware the tax complexity

With an observable increase in the use of earnout and contingent consideration structures in M&A, it is timely to consider the related tax complexity. In brief Our recent Private M&A Report highlights a rise in the use of… more

Acquisitions, Buyers, Capital Gains, Corporate Taxes, Earn-Outs

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Alice Hemery

The UPC – Two Years On

The Unified Patent Court – a one-stop-shop for European patent litigation – is now two years old. As it enters its third year of operation, we look at the approach that is becoming established in the new system, drawing out key… more

Damages, Discovery, Enforcement, EU, Intellectual Property Protection

See all updates »

Sarah Henkes-Younger

Australian Productivity Commission Proposes Text & Data Mining Exception to Copyright Infringement for AI Training

In response to a request to identify ‘priority reforms’ under the Australian Government’s productivity growth agenda, on 5 August 2025 the Productivity Commission released an interim report entitled Harnessing data and digital… more

Artificial Intelligence, Australia, Copyright, Copyright Infringement, Data Mining

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Charlotte Henry

AML/CTF reforms: Rules take shape with further Consultation

A quick recap on reforms affecting reporting entities The Amended AML/CTF Act removed the concept of "designated business groups" and replaced this with "reporting group". The concept of "reporting group" means that, if relevant… more

AML/CFT, Anti-Money Laundering, Business Entities, Disclosure Requirements, Financial Institutions

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Stefanie Herkert

Crossing Jurisdictions - Dealing With Tenant Insolvency in the European and US Commercial Real Estate Markets

The global commercial real estate market paints a varied picture, with certain jurisdictions and sectors recovering quicker than others from the COVID-19 pandemic and continuing geopolitical uncertainty. Higher interest rates… more

Commercial Bankruptcy, Commercial Real Estate Market, EU, France, Germany

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Adi Herman

Corporate Governance: 2024 Year-End Review

As 2025 begins, we cover several significant corporate governance developments that occurred in the second half of 2024 and since our Corporate Governance: 2024 Midyear Review was published in August. We first highlight… more

Corporate Governance, Corporate Transparency Act, Delaware, Enforcement Actions, FinCEN

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Jack Herman

Case Alert: Novolex v. Illinois Union Insurance, et al.

A recent summary judgment decision is noteworthy as one of the rare judicial opinions arising in the context of representations-and-warranties (R&W) insurance. On Jan. 12, 2024, in Novolex Holdings, LLC v. Illinois Union… more

Insurance Claims, Insurance Industry, Insurance Litigation, Policy Exclusions, Policy Terms

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Barry Herzog

Tax Provisions in the One Big Beautiful Bill Act

On July 4, President Trump signed into law the One Big Beautiful Bill Act (the Act). While the Act covers a wide swath of territory, the core of the Act is its tax provisions. The Act (i) makes permanent many of the tax changes… more

Business Taxes, Clean Energy, Energy Projects, Estate Tax, Foreign Tax Credits

See all updates »

Grace Holmes

2025 Employment and Workplace Relations in Australia Legal Guide

The Australian Herbert Smith Freehills Kramer Employment, Industrial Relations and Safety team help our clients achieve success across the full range of workplace issues. In truth, the legal and social environment has never been… more

Australia, Employee Rights, Employer Responsibilities, Employment Policies, International Labor Laws

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Marissa Holob

DOL Issues Pension Risk Transfer Guidance, Focuses on PE Ownership of Insurers

Sponsors of defined-benefit pension plans contemplating taking steps to de-risk their plans should consider recent guidance from the U.S. Department of Labor’s (DOL) Employee Benefits Security Administration (EBSA) on pension… more

Department of Labor (DOL), EBSA, Employee Benefits, Employee Retirement Income Security Act (ERISA), Insurance Industry

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Robert Holtzman

DOJ Issues Guidance on ‘Unlawful’ Employer DEI Policies, Programs and Practices

As discussed in our prior alert and seen in numerous actions undertaken since the Trump administration took office, employers should expect significant changes to the federal government’s antidiscrimination enforcement policies… more

Affirmative Action, Anti-Discrimination Policies, Department of Justice (DOJ), Diversity and Inclusion Standards (D&I), Employment Discrimination

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Kosta Hountalas

The Network Behind the Wheels: Communications Laws and the Future of Connected and Autonomous Vehicles

As connected and autonomous vehicle (CAV) technologies continue to advance, governments across Australia are beginning to reshape infrastructure policy to support CAV integration into broader transport systems. Many states have… more

5G Network, Australia, Connected Cars, Driverless Cars, Infrastructure

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Felix Hu

AML/CTF reforms: Rules take shape with further Consultation

A quick recap on reforms affecting reporting entities The Amended AML/CTF Act removed the concept of "designated business groups" and replaced this with "reporting group". The concept of "reporting group" means that, if relevant… more

AML/CFT, Anti-Money Laundering, Business Entities, Disclosure Requirements, Financial Institutions

See all updates »

Clare Hubert

The Network Behind the Wheels: Communications Laws and the Future of Connected and Autonomous Vehicles

As connected and autonomous vehicle (CAV) technologies continue to advance, governments across Australia are beginning to reshape infrastructure policy to support CAV integration into broader transport systems. Many states have… more

5G Network, Australia, Connected Cars, Driverless Cars, Infrastructure

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Laura Hulett

The NSTA’s New Disclosure Policy

On 31 July 2025, the North Sea Transition Authority (NSTA) confirmed its new approach to regulatory transparency by announcing its intention to publicly name companies subject to ongoing investigations and those who fail to meet… more

Disclosure Requirements, Energy Sector, Enforcement Actions, Government Agencies, Investigations

See all updates »

Daniel Hyde

AML/CTF reforms: Rules take shape with further Consultation

A quick recap on reforms affecting reporting entities The Amended AML/CTF Act removed the concept of "designated business groups" and replaced this with "reporting group". The concept of "reporting group" means that, if relevant… more

AML/CFT, Anti-Money Laundering, Business Entities, Disclosure Requirements, Financial Institutions

See all updates »

Emma Iles

Australian Productivity Commission Proposes Text & Data Mining Exception to Copyright Infringement for AI Training

In response to a request to identify ‘priority reforms’ under the Australian Government’s productivity growth agenda, on 5 August 2025 the Productivity Commission released an interim report entitled Harnessing data and digital… more

Artificial Intelligence, Australia, Copyright, Copyright Infringement, Data Mining

See all updates »

Tamanna Islam

2025 Employment and Workplace Relations in Australia Legal Guide

The Australian Herbert Smith Freehills Kramer Employment, Industrial Relations and Safety team help our clients achieve success across the full range of workplace issues. In truth, the legal and social environment has never been… more

Australia, Employee Rights, Employer Responsibilities, Employment Policies, International Labor Laws

See all updates »

Aaron Jacobs

Second Circuit Affirms Order Compelling Disclosure of Attorney-Client Communications Subject to the Crime-Fraud Privilege Exception

On Feb. 7, 2025, the U.S. Court of Appeals for the Second Circuit in In re Two Grand Jury Subpoenas Dated Sept. 13, 2023 affirmed the Southern District of New York’s order compelling a partner at a law firm and the firm to… more

Appeals, Attorney-Client Privilege, Corporate Governance, Corporate Misconduct, Crime-Fraud Exception

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Tobias Jacoby

SEC Proposes New Rules for SPAC IPOs and SPAC Business Combinations

On March 30, 2022, the Securities and Exchange Commission (SEC) published a proposal for new rules and amendments under the Securities Act of 1933 and the Securities Exchange Act of 1934 governing initial public offerings (IPOs)… more

Capital Markets, Comment Period, Initial Public Offering (IPO), Proposed Rules, PSLRA

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Zehra Jafri

USPTO Withdraws Its Former Artificial Intelligence Strategy Document

We recently reported the USPTO’s publication on Jan. 14, 2025, of an artificial intelligence strategy document, just days before the appointment of new Acting Director Coke Morgan Stewart. Wasting no time, the USPTO has now… more

Artificial Intelligence, Biden Administration, Executive Orders, Innovation, Intellectual Property Protection

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Clayton James

Takeovers Panel drops a suite of new considerations for voting intention statements

In the recent decision in Re Dropsuite Limited [2025] ATP 10, the Takeovers Panel concluded that a voting intention statement given by a substantial shareholder in the usual form was ‘ambiguous’ as to whether that shareholder… more

Acquisition Agreements, Australia, Corporate Governance, Corporate Sales Transactions, Disclosure Requirements

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Kam Jamshidi

DealMakers: Private M&A Report Australia 2025

This exclusive report unpacks a sample of over 60 private M&A transactions led by our Dealmakers—offering data-driven insights into a dynamic year of strategic execution, sector shifts, and evolving deal structures… more

Acquisition Agreements, Australia, Contract Terms, Corporate Sales Transactions, Investment

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Thomas Janover

Kirschner v. JPMorgan Chase: What It Means for Syndicated Loans and Its Implications for the Secondary Trading Market

On May 22, Judge Paul Gardephe of the U.S. District Court for the Southern District of New York granted a motion to dismiss in Kirschner v. JPMorgan Chase Bank, N.A., a case that, among other things, considered whether the… more

JPMorgan Chase, Popular, Secondary Markets, Securities Regulation, Syndicated Loans

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Nerida Jessup

2025 Employment and Workplace Relations in Australia Legal Guide

The Australian Herbert Smith Freehills Kramer Employment, Industrial Relations and Safety team help our clients achieve success across the full range of workplace issues. In truth, the legal and social environment has never been… more

Australia, Employee Rights, Employer Responsibilities, Employment Policies, International Labor Laws

See all updates »

Shivchand Jhinku

2025 Employment and Workplace Relations in Australia Legal Guide

The Australian Herbert Smith Freehills Kramer Employment, Industrial Relations and Safety team help our clients achieve success across the full range of workplace issues. In truth, the legal and social environment has never been… more

Australia, Employee Rights, Employer Responsibilities, Employment Policies, International Labor Laws

See all updates »

Robert Jones

USCIS to Consider “Anti-American” Activity in Adjudicating Certain Immigrant Benefit Requests

On August 19, 2025, U.S. Citizenship and Immigration Services (USCIS) announced that they have updated their policy manual regarding the discretionary factors that officers may consider in deciding whether to grant certain… more

Adjustment of Status, Corporate Counsel, Department of Homeland Security (DHS), Employment Authorization Documents (EAD), Foreign Nationals

See all updates »

Jason Jordan

Disclosure in scheme booklets: too long, too repetitive

Following ASIC’s recent discussion paper and symposium on the dynamics between private and public markets, market commentators have expressed concerns regarding the length and complexity of public market transaction documents… more

ASIC, Australia, Corporate Governance, Disclosure Requirements, Regulatory Requirements

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Eliza Kaiser

The Supreme Court rejects a heightened summary judgment standard for majority group plaintiffs in Title VII discrimination cases

On June 5, 2025, the U.S. Supreme Court unanimously ruled in Ames v Ohio Dept. of Youth Services that plaintiffs in the majority group within a protected class have the same burden of proof at summary judgment to demonstrate… more

Burden of Proof, Civil Rights Act, Employment Discrimination, Employment Litigation, Protected Class

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Jilan Kamal

Target Acquired: DOJ Strikes at Defense Contractors Over Cybersecurity Compliance and Pricing Issues

The U.S. Department of Defense (DOD) obligates about half a trillion dollars a year to private contractors for everything from high-end weapons and data systems to basic goods and services like fuel, shipping, food, and medical… more

Cybersecurity, Cybersecurity Maturity Model Certification (CMMC), Defense Sector, Department of Defense (DOD), Department of Justice (DOJ)

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Hannah Kanter

Supreme Court Affirms Fraudulent Inducement Theory in Federal Wire Fraud Prosecutions

In Kousisis v. United States, 605 U.S. ___ (2025), the Supreme Court resolved a Circuit split addressing the scope of the federal wire fraud statute, 18 U.S.C. § 1343. Without dissent, the Court held that the government did not… more

Construction Contracts, Construction Industry, Contract Disputes, Criminal Prosecution, Federal Funding

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Tatiana Kashuta

USCIS to Consider “Anti-American” Activity in Adjudicating Certain Immigrant Benefit Requests

On August 19, 2025, U.S. Citizenship and Immigration Services (USCIS) announced that they have updated their policy manual regarding the discretionary factors that officers may consider in deciding whether to grant certain… more

Adjustment of Status, Corporate Counsel, Department of Homeland Security (DHS), Employment Authorization Documents (EAD), Foreign Nationals

See all updates »

Kristopher Kastens

Ooki DAO Default Judgment: Regulators Still Face Many Technical and Legal Challenges in Regulating Smart Contracts

The Commodity Futures Trading Commission (CFTC) won what it described as a “sweeping victory” in its case against Ooki DAO, in which the CFTC alleged that the decentralized autonomous organization (DAO) operated an illegal… more

Blockchain, CFTC, Decentralized Autonomous Organization (DAO), Digital Assets

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Karen Steinberg Kennedy

Supreme Court Upholds Strict Time Limit in Federal Securities Class Actions

On June 26, 2017, the Supreme Court issued a 5-4 decision in California Public Employees’ Retirement System v. ANZ Securities, Inc., et al. (“CalPERS”) (No. 16–373, 2017 WL 2722415) (U.S. June 26, 2017), holding that the… more

CalPERS v ANZ Securities, Class Action, Equitable Tolling, Opt-Outs, Pension Funds

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Sabah Khokhar

AI Regulatory Update: Q4 2024

For users and developers of artificial intelligence (AI), keeping abreast of the evolving legal landscape is challenging but critical. This update highlights notable recent developments in global AI regulation… more

Artificial Intelligence, Innovative Technology, Machine Learning, Popular, Technology Sector

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Mariya Khvatskaya

Tax Provisions in the One Big Beautiful Bill Act

On July 4, President Trump signed into law the One Big Beautiful Bill Act (the Act). While the Act covers a wide swath of territory, the core of the Act is its tax provisions. The Act (i) makes permanent many of the tax changes… more

Business Taxes, Clean Energy, Energy Projects, Estate Tax, Foreign Tax Credits

See all updates »

Tae Kim

2025 Employment and Workplace Relations in Australia Legal Guide

The Australian Herbert Smith Freehills Kramer Employment, Industrial Relations and Safety team help our clients achieve success across the full range of workplace issues. In truth, the legal and social environment has never been… more

Australia, Employee Rights, Employer Responsibilities, Employment Policies, International Labor Laws

See all updates »

Antonia Kirkby

UK Public M&A Monthly Activity Update: July 2025

In July 2025, there were five Rule 2.7 announcements made across the UK public M&A market and three further possible offers announced… more

Acquisitions, Capital Markets, Corporate Governance, Financial Markets, Mergers

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Monika Klajn

The UPC – Two Years On

The Unified Patent Court – a one-stop-shop for European patent litigation – is now two years old. As it enters its third year of operation, we look at the approach that is becoming established in the new system, drawing out key… more

Damages, Discovery, Enforcement, EU, Intellectual Property Protection

See all updates »

Allison Klausner

DOL Issues Pension Risk Transfer Guidance, Focuses on PE Ownership of Insurers

Sponsors of defined-benefit pension plans contemplating taking steps to de-risk their plans should consider recent guidance from the U.S. Department of Labor’s (DOL) Employee Benefits Security Administration (EBSA) on pension… more

Department of Labor (DOL), EBSA, Employee Benefits, Employee Retirement Income Security Act (ERISA), Insurance Industry

See all updates »

Olga Klimczak

2025 Employment and Workplace Relations in Australia Legal Guide

The Australian Herbert Smith Freehills Kramer Employment, Industrial Relations and Safety team help our clients achieve success across the full range of workplace issues. In truth, the legal and social environment has never been… more

Australia, Employee Rights, Employer Responsibilities, Employment Policies, International Labor Laws

See all updates »

Daniel Knaap

Observations on the 2024 CFIUS Annual Report

The Committee on Foreign Investment in the United States (CFIUS), the US foreign direct investment regulator, issues a report each year to the US Congress, detailing CFIUS’s reviews and investigations of foreign acquisitions of,… more

Acquisitions, CFIUS, Cross-Border Transactions, Enforcement Actions, Foreign Direct Investment

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Christina Knezevich

Protecting your business: The implications of Australia’s new privacy tort

On 10 June 2025, the new statutory tort for serious invasions of privacy came into force as part of a suite of privacy reforms passed last year, substantially enhancing privacy protections and signalling a material shift in… more

Australia, Class Action, Corporate Counsel, Data Breach, Data Protection

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Jamie Kocis

Corporate Governance: 2024 Year-End Review

As 2025 begins, we cover several significant corporate governance developments that occurred in the second half of 2024 and since our Corporate Governance: 2024 Midyear Review was published in August. We first highlight… more

Corporate Governance, Corporate Transparency Act, Delaware, Enforcement Actions, FinCEN

See all updates »

Spartak Kodra

The UPC – Two Years On

The Unified Patent Court – a one-stop-shop for European patent litigation – is now two years old. As it enters its third year of operation, we look at the approach that is becoming established in the new system, drawing out key… more

Damages, Discovery, Enforcement, EU, Intellectual Property Protection

See all updates »

Mark Koestler

USCIS to Consider “Anti-American” Activity in Adjudicating Certain Immigrant Benefit Requests

On August 19, 2025, U.S. Citizenship and Immigration Services (USCIS) announced that they have updated their policy manual regarding the discretionary factors that officers may consider in deciding whether to grant certain… more

Adjustment of Status, Corporate Counsel, Department of Homeland Security (DHS), Employment Authorization Documents (EAD), Foreign Nationals

See all updates »

Charlene Kong

Insurers in the securitisation market: Prudential capital and risk transfer

The Basel Accords have, over time, shaped the development of the financial markets as different products become more or less attractive for banks to offer and businesses to take up on a risk-adjusted return basis. After the… more

Basel III, Insurance Industry, Prudential Regulation Authority (PRA), Risk Management, Securitization

See all updates »

Jin Kong

US Securities and Exchange Commission “Concept Release” on the definition of “Foreign Private Issuer”: The revisions could have significant impact on foreign private issuers accessing the US capital markets

On June 4, 2025, the US Securities and Exchange Commission (SEC) issued a “Concept Release” that will be of significant interest to our “foreign private issuer” (“FPI”) clients, their shareholders, and our investment banking… more

Capital Markets, Corporate Governance, Disclosure Requirements, Foreign Private Issuers, Proposed Rules

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Ilya Kontorovich

SEC Adopts Final Rules Regarding SPAC IPOs and SPAC Business Combinations

On Jan. 24, 2024, the Securities and Exchange Commission (SEC) adopted final rules that significantly expand disclosure and other requirements for initial public offerings (IPOs) by special purpose acquisition companies (SPACs)… more

Disclosure Requirements, Initial Public Offering (IPO), Investment Company Act of 1940, Investors, Securities and Exchange Commission (SEC)

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Shari Kahn Krouner

Corporate Governance: 2024 Year-End Review

As 2025 begins, we cover several significant corporate governance developments that occurred in the second half of 2024 and since our Corporate Governance: 2024 Midyear Review was published in August. We first highlight… more

Corporate Governance, Corporate Transparency Act, Delaware, Enforcement Actions, FinCEN

See all updates »

William Ku

HSF Kramer Bankruptcy & Restructuring Group Global reach, local knowledge

Debtors and creditors have options when choosing where to pursue a restructuring – particularly with operations across jurisdictions and debt instruments issued under different laws. Local knowledge is key to navigate those… more

Bankruptcy Court, Chapter 11, Commercial Bankruptcy, Creditors, Debt Restructuring

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Maximilian Kücking

The UPC – Two Years On

The Unified Patent Court – a one-stop-shop for European patent litigation – is now two years old. As it enters its third year of operation, we look at the approach that is becoming established in the new system, drawing out key… more

Damages, Discovery, Enforcement, EU, Intellectual Property Protection

See all updates »

Yasho Lahiri

LP-led Fund Secondaries – What You Need to Know

Fund secondaries transactions have grown enormously over the last 20 years or so. Recently, funds have been under pressure to return capital to investors in the context of a range of market constraints on traditional exit routes… more

Capital Markets, Due Diligence, Fund Managers, Investment Funds, Limited Partnerships

See all updates »

Michael Lake

Time’s Up: NSW Court of Appeal Reminder About the Importance of Understanding and Hitting Security of Payment Deadlines

The NSW Court of Appeal in Roberts Co (NSW) Pty Ltd v Sharvain Facades Pty Ltd (Administrators Appointed) [2025] NSWCA 161 has confirmed that, under the Building and Construction Industry Security of Payment Act 1999 (NSW) (the… more

Appeals, Australia, Construction Contracts, Construction Disputes, Construction Industry

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Nicholas Lamanna

2025 Employment and Workplace Relations in Australia Legal Guide

The Australian Herbert Smith Freehills Kramer Employment, Industrial Relations and Safety team help our clients achieve success across the full range of workplace issues. In truth, the legal and social environment has never been… more

Australia, Employee Rights, Employer Responsibilities, Employment Policies, International Labor Laws

See all updates »

John Lao

The UPC – Two Years On

The Unified Patent Court – a one-stop-shop for European patent litigation – is now two years old. As it enters its third year of operation, we look at the approach that is becoming established in the new system, drawing out key… more

Damages, Discovery, Enforcement, EU, Intellectual Property Protection

See all updates »

Nanda Lau

Navigating Foreign Direct Investment Regulation: Defence

Defence, and the related military and dual-use sectors, encompasses activities supporting defensive and national security capabilities. While some of these activities may be defence-specific, others have applications in both the… more

Business Entities, Cross-Border Transactions, Defense Sector, Foreign Direct Investment, Foreign Investment

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Ariel Lavinbuk

Contracting Around Section 1782 Discovery? Second Circuit Rules That Forum-selection Clauses May Weigh Against Discovery Applications Under 28 U.S.C. § 1782

In Banoka S.à.r.l. v. Elliott Management Corp., the Second Circuit recently held that a contractual forum-selection clause may weigh against an application for discovery under 28 U.S.C. § 1782 (Section 1782). 2025 WL 2166397 (2d… more

28 U.S.C. § 1782, Appellate Courts, Contract Terms, Discovery, Foreign Tribunals

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Kerri Ann Law

California Supreme Court Confirms General Enforceability of Delaware Court of Chancery Forum Selection Clauses

Forum selection clauses have long been a feature of commercial contracting. Since then-Chancellor Strine’s decision in Boilermakers Local 154 Ret. Fund v. Chevron Corp., Delaware corporations have routinely included such clauses… more

Breach of Contract, Business Litigation, CA Supreme Court, Corporate Governance, Delaware

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Timothy Layden

Blockchain Patents and Litigation — Updated May 2023

Blockchain had a challenging year but continues to grow as a technology with broad applicability. Here, we update our previous article on the state of blockchain patents and patent litigation with an overview of the landscape of… more

Blockchain, Cryptocurrency, Distributed Ledger Technology (DLT), Intellectual Property Protection, Patent Litigation

See all updates »

Kevin Leblang

New York State’s COVID-19 Sick Leave Law Will Sunset on July 31, 2025

As we previously reported, New York’s COVID-19 Sick Leave Law (amending N.Y. Lab. L. §196-b) will expire on July 31, 2025… more

Coronavirus/COVID-19, Employee Rights, Employer Responsibilities, New York, Paid Leave

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Todd Lenson

Ninth Circuit Addresses the Scope of Section 12(a)(2) Liability for Misleading Opinion Statements Under Omnicare

On June 10, 2025, the U.S. Court of Appeals for the Ninth Circuit Pino v. Cardone Capital, LLC reversed in part the dismissal of claims brought under the Securities Act of 1933 based on statements made in connection with two… more

Appeals, Disclosure Requirements, Enforcement Actions, Fraud, Investment

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Daniel Lerman

US Supreme Court Grants Certiorari to Decide Whether Section 47(b) of the Investment Company Act Allows for a Private Right of Action

On June 30, 2025, the Supreme Court granted certiorari in FS Credit Opportunities Corp., et al. v. Saba Capital Master Fund, Ltd., et al., 24-345 to resolve a circuit split over whether Section 47(b) of the Investment Company… more

Appeals, Contract Disputes, Investment Company Act of 1940, Investment Funds, Private Right of Action

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Ryan Leslie

Earnout structures: Bridging valuation gaps in M&A – beware the tax complexity

With an observable increase in the use of earnout and contingent consideration structures in M&A, it is timely to consider the related tax complexity. In brief Our recent Private M&A Report highlights a rise in the use of… more

Acquisitions, Buyers, Capital Gains, Corporate Taxes, Earn-Outs

See all updates »

Ella Leviyeva

Pause on Visa Appointments for Student and Exchange Visitor Visa Applicants as Social Media Vetting Expands

On May 27, 2025, the Trump administration ordered U.S. embassies and consulates to pause scheduling new visa appointments for student and exchange visitor applicants until an expanded social media screening and vetting process… more

Department of Homeland Security (DHS), Executive Orders, Foreign Nationals, Immigration Procedures, Immigration Reform

See all updates »

Rodd Levy

More From the Panel About On-market Purchases Above the Bid Price

The Takeovers Panel has declined to make a declaration of unacceptable circumstances in the recent New World Resources Limited 02 case, despite concerns about the bidder’s delay in disclosing on-market purchases of shares at… more

Acquisitions, Corporate Governance, Disclosure Requirements, Mergers, Regulatory Requirements

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Paul Lewis

Handy client guide to privilege

We have published a client guide to legal professional privilege under English law. This guide comprises: A decision tree: intended as a quick reference to help determine which documents can legitimately be withheld on grounds… more

Attorney-Client Privilege, Best Practices, Client Services, Confidential Information, Document Review

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Tao Li

Pause on Visa Appointments for Student and Exchange Visitor Visa Applicants as Social Media Vetting Expands

On May 27, 2025, the Trump administration ordered U.S. embassies and consulates to pause scheduling new visa appointments for student and exchange visitor applicants until an expanded social media screening and vetting process… more

Department of Homeland Security (DHS), Executive Orders, Foreign Nationals, Immigration Procedures, Immigration Reform

See all updates »

Jessica Light

2025 Employment and Workplace Relations in Australia Legal Guide

The Australian Herbert Smith Freehills Kramer Employment, Industrial Relations and Safety team help our clients achieve success across the full range of workplace issues. In truth, the legal and social environment has never been… more

Australia, Employee Rights, Employer Responsibilities, Employment Policies, International Labor Laws

See all updates »

Ayla Lima

Recent Chapter 15 Cases Show Potential for Non-Consensual Third-Party Releases Based Upon Foreign (Non-U.S.) Proceedings

Last year, the U.S. Supreme Court barred the use of nonconsensual third-party releases in Chapter 11 cases, holding that the Bankruptcy Code did not provide a basis to nonconsensually release claims against third parties (with a… more

Bankruptcy Code, Chapter 15, Comity, Creditors, Debtors

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Julian Lincoln

Decoding Tokenisation: An introduction

In the rapidly expanding and evolving digital economy, tokenisation is primed to transform how we interact with assets. By creating digital representations of real-world assets on a distributed ledger, tokenisation promises to… more

Blockchain, Digital Assets, Financial Markets, FinTech, Investment

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Angela Liu

Australian Securities & Investments Commission clears path for faster IPOs

On 10 June 2025, ASIC announced two initiatives as part of a two-year trial designed to shorten the IPO process: ASIC will informally review pathfinder disclosure documents on a confidential basis two weeks prior to public… more

Australia, Capital Markets, Disclosure Requirements, Financial Markets, Initial Public Offering (IPO)

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Gilbert Liu

SEC Adopts T+1 Settlement Cycle

On Feb. 15, the Securities and Exchange Commission (SEC) adopted final rule amendments to Exchange Act Rule 15c6-1 to shorten the standard settlement cycle for most securities transactions from two business days after trade date… more

Broker-Dealer, Capital Markets, Final Rules, Securities and Exchange Commission (SEC), Securities Exchange Act

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Benjamin Lohr

LP-led Fund Secondaries – What You Need to Know

Fund secondaries transactions have grown enormously over the last 20 years or so. Recently, funds have been under pressure to return capital to investors in the context of a range of market constraints on traditional exit routes… more

Capital Markets, Due Diligence, Fund Managers, Investment Funds, Limited Partnerships

See all updates »

Valerie Lowe

The NSTA’s New Disclosure Policy

On 31 July 2025, the North Sea Transition Authority (NSTA) confirmed its new approach to regulatory transparency by announcing its intention to publicly name companies subject to ongoing investigations and those who fail to meet… more

Disclosure Requirements, Energy Sector, Enforcement Actions, Government Agencies, Investigations

See all updates »

Adelaide Luke

Navigating Foreign Direct Investment Regulation: Defence

Defence, and the related military and dual-use sectors, encompasses activities supporting defensive and national security capabilities. While some of these activities may be defence-specific, others have applications in both the… more

Business Entities, Cross-Border Transactions, Defense Sector, Foreign Direct Investment, Foreign Investment

See all updates »

Ali MacGregor

UK’s controversial foreign influence registration scheme looms – Banks and other businesses prepare The new regime aimed at protecting UK politics from foreign influence is set to go live 1 July, but its onerous requirements could make for unintended consequences

Almost two years since the National Security Act 2023 became law, on 1 July 2025 both tiers of the UK Government’s new Foreign Influence Registration Scheme (FIRS), will finally ‘go live’. Despite our own partially successful… more

Banks, Financial Services Industry, National Security, New Legislation, Penalties

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Alexander Mackinnon

ASIC public and private markets update

Following the substantial feedback provided in response to ASIC’s discussion paper, ‘Australia’s evolving capital markets: A discussion paper on the dynamics between public and private markets’ (Discussion Paper) on 10 June… more

ASIC, Australia, Capital Markets, Initial Public Offering (IPO), Investment Funds

See all updates »

Priyanka Madan

The UPC – Two Years On

The Unified Patent Court – a one-stop-shop for European patent litigation – is now two years old. As it enters its third year of operation, we look at the approach that is becoming established in the new system, drawing out key… more

Damages, Discovery, Enforcement, EU, Intellectual Property Protection

See all updates »

Martina Maffei

The UPC – Two Years On

The Unified Patent Court – a one-stop-shop for European patent litigation – is now two years old. As it enters its third year of operation, we look at the approach that is becoming established in the new system, drawing out key… more

Damages, Discovery, Enforcement, EU, Intellectual Property Protection

See all updates »

Giulia Maienza

The UPC – Two Years On

The Unified Patent Court – a one-stop-shop for European patent litigation – is now two years old. As it enters its third year of operation, we look at the approach that is becoming established in the new system, drawing out key… more

Damages, Discovery, Enforcement, EU, Intellectual Property Protection

See all updates »

Austin Manes

Target Acquired: DOJ Strikes at Defense Contractors Over Cybersecurity Compliance and Pricing Issues

The U.S. Department of Defense (DOD) obligates about half a trillion dollars a year to private contractors for everything from high-end weapons and data systems to basic goods and services like fuel, shipping, food, and medical… more

Cybersecurity, Cybersecurity Maturity Model Certification (CMMC), Defense Sector, Department of Defense (DOD), Department of Justice (DOJ)

See all updates »

Lerryn Martin

Supreme Court Issues Its Decision in Hopcraft Motor Finance Commission Appeal

In what was a significant decision for the automotive industry, the Supreme Court has allowed the lenders' appeal in part in its much-anticipated judgment relating to lender liability for the payment of third-party broker… more

Appellate Courts, Automotive Industry, Bribery, Broker Commissions, Class Action

See all updates »

Roddy Martin

Supreme Court Issues Its Decision in Hopcraft Motor Finance Commission Appeal

In what was a significant decision for the automotive industry, the Supreme Court has allowed the lenders' appeal in part in its much-anticipated judgment relating to lender liability for the payment of third-party broker… more

Appellate Courts, Automotive Industry, Bribery, Broker Commissions, Class Action

See all updates »

Julia Massarin

AML/CTF reforms: Rules take shape with further Consultation

A quick recap on reforms affecting reporting entities The Amended AML/CTF Act removed the concept of "designated business groups" and replaced this with "reporting group". The concept of "reporting group" means that, if relevant… more

AML/CFT, Anti-Money Laundering, Business Entities, Disclosure Requirements, Financial Institutions

See all updates »

Thomas Moers Mayer

Chapter 15 Case Demonstrates Its Effectiveness as an Expedient Judicial Solution for Singaporean Insolvencies in the United States

Chapter 15 of the Bankruptcy Code (which is based upon the UNCITRAL Model Law on Cross-Border Insolvency) is designed to facilitate cross-border cooperation and coordination among courts during a pending bankruptcy or insolvency… more

Bankruptcy Code, Chapter 15, Commercial Bankruptcy, Cross-Border, Debtors

See all updates »

J. Michael Mayerfeld

China Enacts Groundbreaking Regulations To Vet Generative AI — Will Other Nations Follow Suit?

Some of the world’s earliest and most detailed governmental regulations for generative artificial intelligence (AI) just went into effect in China on Aug. 15. These “Generative AI Measures” are intended to balance state control… more

Artificial Intelligence, China, Corporate Counsel, Intellectual Property Protection, Popular

See all updates »

Ralph Mayrell

Target Acquired: DOJ Strikes at Defense Contractors Over Cybersecurity Compliance and Pricing Issues

The U.S. Department of Defense (DOD) obligates about half a trillion dollars a year to private contractors for everything from high-end weapons and data systems to basic goods and services like fuel, shipping, food, and medical… more

Cybersecurity, Cybersecurity Maturity Model Certification (CMMC), Defense Sector, Department of Defense (DOD), Department of Justice (DOJ)

See all updates »

George McCubbin

The UPC – Two Years On

The Unified Patent Court – a one-stop-shop for European patent litigation – is now two years old. As it enters its third year of operation, we look at the approach that is becoming established in the new system, drawing out key… more

Damages, Discovery, Enforcement, EU, Intellectual Property Protection

See all updates »

Izabel McDonald

New York City Amends Paid Safe and Sick Leave Rules to Incorporate Paid Prenatal Leave Requirements

On May 30, the New York City Department of Consumer and Worker Protection (DCWP) published its final amendments to the Rules of the City of New York (RCNY), incorporating into the Earned Sick and Safe Time Act the provision of… more

Employee Benefits, Employee Rights, Employer Responsibilities, Government Agencies, New Regulations

See all updates »

Lewis McDonald

The NSTA’s New Disclosure Policy

On 31 July 2025, the North Sea Transition Authority (NSTA) confirmed its new approach to regulatory transparency by announcing its intention to publicly name companies subject to ongoing investigations and those who fail to meet… more

Disclosure Requirements, Energy Sector, Enforcement Actions, Government Agencies, Investigations

See all updates »

Maura McIntosh

Handy client guide to privilege

We have published a client guide to legal professional privilege under English law. This guide comprises: A decision tree: intended as a quick reference to help determine which documents can legitimately be withheld on grounds… more

Attorney-Client Privilege, Best Practices, Client Services, Confidential Information, Document Review

See all updates »

Michael McKay

The End of LIBOR

On March 5, 2021, the ICE Benchmark Administration (IBA), UK Financial Conduct Authority (FCA) and International Swaps and Derivatives Association (ISDA) made important announcements regarding the timelines of the cessations of… more

Alternative Reference Rates Committee (ARRC), Benchmarks, Financial Conduct Authority (FCA), Financial Institutions, Interest Rates

See all updates »

Cal McKinney

President Trump Signs Executive Order Pausing Enforcement Under the FCPA; Attorney General Bondi Issues 14 Memoranda Realigning DOJ Enforcement Priorities

On Feb. 10, President Donald Trump issued an executive order pausing enforcement under the Foreign Corrupt Practices Act (FCPA or the Act) for a period of at least 180 days and up to 360 days. The order directs Attorney General… more

Anti-Corruption, Corporate Governance, Corruption, Department of Justice (DOJ), Enforcement Actions

See all updates »

Jean Meijer

Navigating Foreign Direct Investment Regulation: Defence

Defence, and the related military and dual-use sectors, encompasses activities supporting defensive and national security capabilities. While some of these activities may be defence-specific, others have applications in both the… more

Business Entities, Cross-Border Transactions, Defense Sector, Foreign Direct Investment, Foreign Investment

See all updates »

Daniel Michaelson

The End of LIBOR

On March 5, 2021, the ICE Benchmark Administration (IBA), UK Financial Conduct Authority (FCA) and International Swaps and Derivatives Association (ISDA) made important announcements regarding the timelines of the cessations of… more

Alternative Reference Rates Committee (ARRC), Benchmarks, Financial Conduct Authority (FCA), Financial Institutions, Interest Rates

See all updates »

Tess Mierendorff

Australian Productivity Commission Proposes Text & Data Mining Exception to Copyright Infringement for AI Training

In response to a request to identify ‘priority reforms’ under the Australian Government’s productivity growth agenda, on 5 August 2025 the Productivity Commission released an interim report entitled Harnessing data and digital… more

Artificial Intelligence, Australia, Copyright, Copyright Infringement, Data Mining

See all updates »

Jason Moff

Delaware Court of Chancery Allows Caremark Claim To Proceed Against Boeing Directors

In a significant decision, the Delaware Court of Chancery recently denied a motion to dismiss, thus allowing discovery to proceed, on a Caremark claim against the directors of The Boeing Company (Boeing), arising out of the… more

Board of Directors, Boeing, Breach of Duty, Caremark claim, Corporate Governance

See all updates »

Andrew Moir

The UPC – Two Years On

The Unified Patent Court – a one-stop-shop for European patent litigation – is now two years old. As it enters its third year of operation, we look at the approach that is becoming established in the new system, drawing out key… more

Damages, Discovery, Enforcement, EU, Intellectual Property Protection

See all updates »

Alice Molan

AML/CTF reforms: Rules take shape with further Consultation

A quick recap on reforms affecting reporting entities The Amended AML/CTF Act removed the concept of "designated business groups" and replaced this with "reporting group". The concept of "reporting group" means that, if relevant… more

AML/CFT, Anti-Money Laundering, Business Entities, Disclosure Requirements, Financial Institutions

See all updates »

Thomas Molner

Corporate Governance: 2024 Year-End Review

As 2025 begins, we cover several significant corporate governance developments that occurred in the second half of 2024 and since our Corporate Governance: 2024 Midyear Review was published in August. We first highlight… more

Corporate Governance, Corporate Transparency Act, Delaware, Enforcement Actions, FinCEN

See all updates »

Rachel Montagnon

The UPC – Two Years On

The Unified Patent Court – a one-stop-shop for European patent litigation – is now two years old. As it enters its third year of operation, we look at the approach that is becoming established in the new system, drawing out key… more

Damages, Discovery, Enforcement, EU, Intellectual Property Protection

See all updates »

Danielle Moody

At White Collar Crime Institute, DOJ Reiterates Focus on Individual Accountability in Corporate Crime Investigations

In their March 3, 2022, speeches to the 37th American Bar Association (ABA) National Institute on White Collar Crime, Attorney General Merrick Garland and Assistant Attorney General Kenneth Polite Jr. both emphasized the… more

American Bar Association (ABA), Anti-Corruption, Compliance, Criminal Investigations, Department of Justice (DOJ)

See all updates »

Joe Moorcroft-Moran

Certification Tracker of UK Competition Class Actions (CPO Applications) Filed at the Competition Appeal Tribunal

The graphic below tracks the number of competition class actions (CPO applications) filed at the Competition Appeal Tribunal (CAT) since the introduction of a new 'opt-out' regime in the UK in October 2015, as well as the… more

Antitrust Litigation, Certification Requirements, Class Action, Class Certification, Competition

See all updates »

Robert Moore

UK Public M&A Monthly Activity Update: July 2025

In July 2025, there were five Rule 2.7 announcements made across the UK public M&A market and three further possible offers announced… more

Acquisitions, Capital Markets, Corporate Governance, Financial Markets, Mergers

See all updates »

Sebastian Moore

The UPC – Two Years On

The Unified Patent Court – a one-stop-shop for European patent litigation – is now two years old. As it enters its third year of operation, we look at the approach that is becoming established in the new system, drawing out key… more

Damages, Discovery, Enforcement, EU, Intellectual Property Protection

See all updates »

Jean-Dominique Morelli

Luxembourg: Explaining the New Carried Interest Tax Regime

On 24 July 2025, the Luxembourg government introduced Bill No. 8590 (the Bill), which proposes a new competitive carried interest tax regime with the stated objectives being: to create a legal framework that fosters the growth… more

Alternative Investment Funds, Carried Interest, Fund Managers, Investment Funds, Luxembourg

See all updates »

Charlie Morgan

The NSTA’s New Disclosure Policy

On 31 July 2025, the North Sea Transition Authority (NSTA) confirmed its new approach to regulatory transparency by announcing its intention to publicly name companies subject to ongoing investigations and those who fail to meet… more

Disclosure Requirements, Energy Sector, Enforcement Actions, Government Agencies, Investigations

See all updates »

Harry Morgenthau

[Webinar] Advertising Litigation Quarterly Highlights - October 12th, 12:30 pm - 1:30 pm EST

Join us for our Advertising Litigation Quarterly Highlights webinar series. Our Editorial Team will conduct a deep dive on key decisions of interest covered in our recent Advertising Litigation Reports… more

Advertising, Continuing Legal Education, False Advertising, Marketing, Webinars

See all updates »

Francesca Morra

Navigating Foreign Direct Investment Regulation: Defence

Defence, and the related military and dual-use sectors, encompasses activities supporting defensive and national security capabilities. While some of these activities may be defence-specific, others have applications in both the… more

Business Entities, Cross-Border Transactions, Defense Sector, Foreign Direct Investment, Foreign Investment

See all updates »

Maxwell Morris

Corporate Governance: 2024 Year-End Review

As 2025 begins, we cover several significant corporate governance developments that occurred in the second half of 2024 and since our Corporate Governance: 2024 Midyear Review was published in August. We first highlight… more

Corporate Governance, Corporate Transparency Act, Delaware, Enforcement Actions, FinCEN

See all updates »

Kevin Moss

Trademark Damages: Supreme Court Rejects Disgorgement of Non-Defendant Affiliate Profits

The United States Supreme Court issued a unanimous decision in Dewberry Engineers Inc. v. Dewberry Group, Inc. on Feb. 26, 2025, clarifying the scope of damages available under the Lanham Act in trademark infringement cases. The… more

Appeals, Business Litigation, Corporate Entities, Damages, Lanham Act

See all updates »

Kenneth Mueller Ph.D.

Less Is More — the Premise of the Biosimilar ‘Patent Thicket’ Bill

As part of a push to increase competition and lower drug prices, the U.S. Senate recently passed a bill that limits the number of patents that can be asserted in biosimilar litigation. The Affordable Prescriptions for Patients… more

Biologics, Biosimilars, BPCIA, Drug Pricing, Patent Infringement

See all updates »

Eimear Mullan

Culture as catalyst: What our poll reveals about innovation in legal functions

As part of our commitment to advancing innovation in legal services, we recently asked our network: What do you believe are the most critical enablers of innovation within a legal function? The results were both revealing and… more

Business Strategies, Change Management, Corporate Culture, Innovation, Leadership

See all updates »

Jeff Mulligan

Midtown South Rezoning Begins Public Review

On Tuesday, Jan. 21, 2025, the City Planning Commission certified for public review zoning map and text amendment applications (the Proposal) that would create a new Special Midtown South Mixed-Use District (MSX Special… more

Community Development, Housing Developers, Land Developers, Local Ordinance, Mixed-Use Zoning

See all updates »

Amandi Munasinghe

2025 Employment and Workplace Relations in Australia Legal Guide

The Australian Herbert Smith Freehills Kramer Employment, Industrial Relations and Safety team help our clients achieve success across the full range of workplace issues. In truth, the legal and social environment has never been… more

Australia, Employee Rights, Employer Responsibilities, Employment Policies, International Labor Laws

See all updates »

Amelia Munger

New York State Issues Updated Model Sexual Harassment Prevention Policy and Training Materials

The New York State Department of Labor (DOL) recently released updates to the state’s model sexual harassment prevention materials, including its model sexual harassment policy as well as its model sexual harassment prevention… more

Anti-Harassment Policies, Employee Training, Employer Liability Issues, NYDOL, Sexual Harassment

See all updates »

Randal Murdock

Strategies for Preparing the New Hart-Scott-Rodino Forms

On Feb. 10, 2025, the new premerger notification and report forms under the Hart-Scott-Rodino (HSR) Act became effective. The new HSR forms make significant changes to the reporting obligations of both acquiring and acquired… more

Acquisitions, Antitrust Provisions, Competition, Department of Justice (DOJ), Federal Trade Commission (FTC)

See all updates »

Devlin Greatbatch Murphy

Decoding Tokenisation: An introduction

In the rapidly expanding and evolving digital economy, tokenisation is primed to transform how we interact with assets. By creating digital representations of real-world assets on a distributed ledger, tokenisation promises to… more

Blockchain, Digital Assets, Financial Markets, FinTech, Investment

See all updates »

Grant Murtagh

Insurers in the securitisation market: Prudential capital and risk transfer

The Basel Accords have, over time, shaped the development of the financial markets as different products become more or less attractive for banks to offer and businesses to take up on a risk-adjusted return basis. After the… more

Basel III, Insurance Industry, Prudential Regulation Authority (PRA), Risk Management, Securitization

See all updates »

Gary Naftalis

California Supreme Court Confirms General Enforceability of Delaware Court of Chancery Forum Selection Clauses

Forum selection clauses have long been a feature of commercial contracting. Since then-Chancellor Strine’s decision in Boilermakers Local 154 Ret. Fund v. Chevron Corp., Delaware corporations have routinely included such clauses… more

Breach of Contract, Business Litigation, CA Supreme Court, Corporate Governance, Delaware

See all updates »

Jay Neveloff

Tax Reform Update: Senate Bill Includes Key Win for Condominium Developers

On July 1, the Senate’s version of the “One Big Beautiful Bill” passed the Senate. Such bill included a new provision (not in the House bill) that would provide significant tax relief to condominium developers. The bill provides… more

Condominiums, Construction Contracts, Housing Developers, New Legislation, Real Estate Development

See all updates »

Stephen Newby

Luxembourg: Explaining the New Carried Interest Tax Regime

On 24 July 2025, the Luxembourg government introduced Bill No. 8590 (the Bill), which proposes a new competitive carried interest tax regime with the stated objectives being: to create a legal framework that fosters the growth… more

Alternative Investment Funds, Carried Interest, Fund Managers, Investment Funds, Luxembourg

See all updates »

Julia Nguyen

The UPC – Two Years On

The Unified Patent Court – a one-stop-shop for European patent litigation – is now two years old. As it enters its third year of operation, we look at the approach that is becoming established in the new system, drawing out key… more

Damages, Discovery, Enforcement, EU, Intellectual Property Protection

See all updates »

Seth Niedermayer

Kramer Levin Hosts Program With NYCEDC, Related Companies and Vornado to Detail NYC’s Top Economic Development and Investment Opportunities

Kramer Levin hosted a full room of New York City real estate executives for a special event titled “NYC Economic Development Outlook: Investment Opportunities Changing the Market” at the Kramer Levin Multimedia Conference Center… more

Offshore Wind, Real Estate Development, Real Estate Investments, Real Estate Market

See all updates »

Chris Ninan

The NSTA’s New Disclosure Policy

On 31 July 2025, the North Sea Transition Authority (NSTA) confirmed its new approach to regulatory transparency by announcing its intention to publicly name companies subject to ongoing investigations and those who fail to meet… more

Disclosure Requirements, Energy Sector, Enforcement Actions, Government Agencies, Investigations

See all updates »

Hiroaki Nishikawara

Pause on Visa Appointments for Student and Exchange Visitor Visa Applicants as Social Media Vetting Expands

On May 27, 2025, the Trump administration ordered U.S. embassies and consulates to pause scheduling new visa appointments for student and exchange visitor applicants until an expanded social media screening and vetting process… more

Department of Homeland Security (DHS), Executive Orders, Foreign Nationals, Immigration Procedures, Immigration Reform

See all updates »

Kim Noah

2025 Employment and Workplace Relations in Australia Legal Guide

The Australian Herbert Smith Freehills Kramer Employment, Industrial Relations and Safety team help our clients achieve success across the full range of workplace issues. In truth, the legal and social environment has never been… more

Australia, Employee Rights, Employer Responsibilities, Employment Policies, International Labor Laws

See all updates »

Chris Nowland

2025 Employment and Workplace Relations in Australia Legal Guide

The Australian Herbert Smith Freehills Kramer Employment, Industrial Relations and Safety team help our clients achieve success across the full range of workplace issues. In truth, the legal and social environment has never been… more

Australia, Employee Rights, Employer Responsibilities, Employment Policies, International Labor Laws

See all updates »

John O'Donnell

DOJ resumes FCPA enforcement with new guidelines

On June 10, 2025, the head of the Criminal Division of the Department of Justice (DOJ), Matthew Galeotti, declared in a speech that the DOJ would resume enforcing the Foreign Corrupt Practices Act (FCPA). This announcement came… more

Anti-Corruption, Bribery, Corporate Misconduct, Department of Justice (DOJ), Enforcement Actions

See all updates »

Hannah O'Grady

"It's about providing value in a different way" – Hannah O'Grady on GenAI, governance and innovation in legal services

What does innovation in legal services mean to you? True innovation is about identifying the value we provide to clients and thinking creatively about how we provide that value in a different way that might be better for us and… more

Artificial Intelligence, Change Management, Innovation, Legal Technology, Professional Development

See all updates »

Tom O'Neill

US Securities and Exchange Commission “Concept Release” on the definition of “Foreign Private Issuer”: The revisions could have significant impact on foreign private issuers accessing the US capital markets

On June 4, 2025, the US Securities and Exchange Commission (SEC) issued a “Concept Release” that will be of significant interest to our “foreign private issuer” (“FPI”) clients, their shareholders, and our investment banking… more

Capital Markets, Corporate Governance, Disclosure Requirements, Foreign Private Issuers, Proposed Rules

See all updates »

Nicholas Ogilvie

2025 Employment and Workplace Relations in Australia Legal Guide

The Australian Herbert Smith Freehills Kramer Employment, Industrial Relations and Safety team help our clients achieve success across the full range of workplace issues. In truth, the legal and social environment has never been… more

Australia, Employee Rights, Employer Responsibilities, Employment Policies, International Labor Laws

See all updates »

Laura Orlando

The UPC – Two Years On

The Unified Patent Court – a one-stop-shop for European patent litigation – is now two years old. As it enters its third year of operation, we look at the approach that is becoming established in the new system, drawing out key… more

Damages, Discovery, Enforcement, EU, Intellectual Property Protection

See all updates »

Andrew Otis

SEC Abandons Climate-Related Disclosure Litigation — What Next?

The Securities and Exchange Commission (SEC) recently informed the U.S. Court of Appeals for the Eighth Circuit that it will no longer defend its March 6, 2024, rule requiring that companies disclose climate-related risks and… more

Administrative Procedure Act, Climate Change, Disclosure Requirements, Greenhouse Gas Emissions, Regulatory Requirements

See all updates »

Claudia Pak

COVID-19 Update: Litigation Issues in the Midst of COVID-19

There are many litigation issues presented by the outbreak of and response to COVID-19 (the disease caused by the novel coronavirus). We address below several practical and legal issues to consider during this challenging time… more

Business Interruption, Contract Terms, Coronavirus/COVID-19, Force Majeure Clause, Frustration of a Common Purpose

See all updates »

James Palmer

UK’s controversial foreign influence registration scheme looms – Banks and other businesses prepare The new regime aimed at protecting UK politics from foreign influence is set to go live 1 July, but its onerous requirements could make for unintended consequences

Almost two years since the National Security Act 2023 became law, on 1 July 2025 both tiers of the UK Government’s new Foreign Influence Registration Scheme (FIRS), will finally ‘go live’. Despite our own partially successful… more

Banks, Financial Services Industry, National Security, New Legislation, Penalties

See all updates »

Stephanie Panayi

New merger control regime - What you need to know for dealmaking

The Government has made the notification rules which determine the circumstances in which 2026 transactions will need to be notified to the Australian Competition and Consumer Commission (ACCC) under the new Part IVA of the… more

Acquisition Agreements, Australia, Australian Competition and Consumer Commission (ACCC), Corporate Sales Transactions, Exemptions

See all updates »

Michelle Park

US Federal Judges Back AI Training as Fair Use — but Questions Remain

In consecutive decisions last week, two federal judges in California issued landmark rulings in favor of generative artificial intelligence (AI) developers, finding that their use of copyrighted books to train large language… more

Algorithms, Artificial Intelligence, Copyright, Copyright Infringement, Fair Use

See all updates »

Eileen Patt

[Webinar] Advertising Litigation Quarterly Highlights - October 12th, 12:30 pm - 1:30 pm EST

Join us for our Advertising Litigation Quarterly Highlights webinar series. Our Editorial Team will conduct a deep dive on key decisions of interest covered in our recent Advertising Litigation Reports… more

Advertising, Continuing Legal Education, False Advertising, Marketing, Webinars

See all updates »

Drew Pearson

2025 Employment and Workplace Relations in Australia Legal Guide

The Australian Herbert Smith Freehills Kramer Employment, Industrial Relations and Safety team help our clients achieve success across the full range of workplace issues. In truth, the legal and social environment has never been… more

Australia, Employee Rights, Employer Responsibilities, Employment Policies, International Labor Laws

See all updates »

Joanna Pecenik Vergès d'Espagne

Luxembourg: Explaining the New Carried Interest Tax Regime

On 24 July 2025, the Luxembourg government introduced Bill No. 8590 (the Bill), which proposes a new competitive carried interest tax regime with the stated objectives being: to create a legal framework that fosters the growth… more

Alternative Investment Funds, Carried Interest, Fund Managers, Investment Funds, Luxembourg

See all updates »

Chiara Perotti

The UPC – Two Years On

The Unified Patent Court – a one-stop-shop for European patent litigation – is now two years old. As it enters its third year of operation, we look at the approach that is becoming established in the new system, drawing out key… more

Damages, Discovery, Enforcement, EU, Intellectual Property Protection

See all updates »

Anne Petitjean

Crossing Jurisdictions - Dealing With Tenant Insolvency in the European and US Commercial Real Estate Markets

The global commercial real estate market paints a varied picture, with certain jurisdictions and sectors recovering quicker than others from the COVID-19 pandemic and continuing geopolitical uncertainty. Higher interest rates… more

Commercial Bankruptcy, Commercial Real Estate Market, EU, France, Germany

See all updates »

James Pettigrew

Earnout structures: Bridging valuation gaps in M&A – beware the tax complexity

With an observable increase in the use of earnout and contingent consideration structures in M&A, it is timely to consider the related tax complexity. In brief Our recent Private M&A Report highlights a rise in the use of… more

Acquisitions, Buyers, Capital Gains, Corporate Taxes, Earn-Outs

See all updates »

Laurence Pettit

Insurance Regulators’ Working Group Adopts Key Bond Definition, Providing Guidance for Equity-Based ABS

Culminating a four-year-long process, a key working group of insurance regulators has adopted new standards for determining whether an investment held by an insurance company should be characterized as a “bond” evidencing a… more

Asset-Backed Securities, Insurance Industry, NAIC, Reporting Requirements

See all updates »

Jared Peut

New merger control regime - What you need to know for dealmaking

The Government has made the notification rules which determine the circumstances in which 2026 transactions will need to be notified to the Australian Competition and Consumer Commission (ACCC) under the new Part IVA of the… more

Acquisition Agreements, Australia, Australian Competition and Consumer Commission (ACCC), Corporate Sales Transactions, Exemptions

See all updates »

André Pineda Ph.D.

Third-Generation Vaccines Take Center Stage in Battle Against COVID-19

The biopharmaceutical industry is at the forefront of COVID-19 news due to major advances in vaccine development. Now, more than a year since the first case of COVID-19 and nearing a year since daily life has been upended by the… more

AstraZeneca, Coronavirus/COVID-19, Emergency Use Authorization (EUA), Infectious Diseases, Intellectual Property Protection

See all updates »

John "Luke" Pizzato

Supreme Court Rejects EPA’s ‘Clean Power Plan’ in Decision Raising Questions About the SEC’s Climate-Related Disclosure Rules

On June 30, 2022, the U.S. Supreme Court held in West Virginia v. Environmental Protection Agency, 597 U.S. ___ (2022), that the Clean Air Act did not clearly authorize the Environmental Protection Agency (EPA) to create the… more

Air Pollution, Clean Air Act, Clean Power Plan, Climate Change, Disclosure Requirements

See all updates »

Andrew Pollack

Delaware Bankruptcy Judge Rejects 'Consensual' Releases in Emerge Energy Chapter 11 Plan

The Honorable Karen B. Owens, sworn in as a Delaware Bankruptcy Judge on June 17, 2019, recently ruled that the third-party releases contained in Emerge Energy Services LP’s Chapter 11 plan were not consensually granted, given… more

Bankruptcy Court, Bankruptcy Plans, Chapter 11, Commercial Bankruptcy, Consent

See all updates »

Kelly Porcelli

Crossing Jurisdictions - Dealing With Tenant Insolvency in the European and US Commercial Real Estate Markets

The global commercial real estate market paints a varied picture, with certain jurisdictions and sectors recovering quicker than others from the COVID-19 pandemic and continuing geopolitical uncertainty. Higher interest rates… more

Commercial Bankruptcy, Commercial Real Estate Market, EU, France, Germany

See all updates »

Pietro Pouché

The UPC – Two Years On

The Unified Patent Court – a one-stop-shop for European patent litigation – is now two years old. As it enters its third year of operation, we look at the approach that is becoming established in the new system, drawing out key… more

Damages, Discovery, Enforcement, EU, Intellectual Property Protection

See all updates »

Caoimhe Powell

Handy client guide to privilege

We have published a client guide to legal professional privilege under English law. This guide comprises: A decision tree: intended as a quick reference to help determine which documents can legitimately be withheld on grounds… more

Attorney-Client Privilege, Best Practices, Client Services, Confidential Information, Document Review

See all updates »

James Power

City Council Approves Midtown South Mixed-use Plan

On August 14, 2025, the New York City Council voted to approve the Midtown South Mixed-Use Plan, as modified by the City Council Land Use Committee… more

Affordable Housing, City Councils, Economic Development, Infrastructure, Mixed-Use Zoning

See all updates »

Sheila Pozon

City Council Approves Midtown South Mixed-use Plan

On August 14, 2025, the New York City Council voted to approve the Midtown South Mixed-Use Plan, as modified by the City Council Land Use Committee… more

Affordable Housing, City Councils, Economic Development, Infrastructure, Mixed-Use Zoning

See all updates »

Jay Prasad

Earnout structures: Bridging valuation gaps in M&A – beware the tax complexity

With an observable increase in the use of earnout and contingent consideration structures in M&A, it is timely to consider the related tax complexity. In brief Our recent Private M&A Report highlights a rise in the use of… more

Acquisitions, Buyers, Capital Gains, Corporate Taxes, Earn-Outs

See all updates »

Graeme Preston

Navigating Foreign Direct Investment Regulation: Defence

Defence, and the related military and dual-use sectors, encompasses activities supporting defensive and national security capabilities. While some of these activities may be defence-specific, others have applications in both the… more

Business Entities, Cross-Border Transactions, Defense Sector, Foreign Direct Investment, Foreign Investment

See all updates »

Maddie Prow

The UPC – Two Years On

The Unified Patent Court – a one-stop-shop for European patent litigation – is now two years old. As it enters its third year of operation, we look at the approach that is becoming established in the new system, drawing out key… more

Damages, Discovery, Enforcement, EU, Intellectual Property Protection

See all updates »

Carolyn Pugsley

Australian Government Seeks Comments on Changes to the Modern Slavery Act

As the Australian Government seeks to strengthen the transparency and effectiveness of the Modern Slavery Act (the Act), a series of reviews and responses have been conducted. In May 2023, conclusions from the first statutory… more

Australia, Consultation, Modern Slavery Act, Penalties, Public Comment

See all updates »

Kevin Pullen

HSF Kramer Bankruptcy & Restructuring Group Global reach, local knowledge

Debtors and creditors have options when choosing where to pursue a restructuring – particularly with operations across jurisdictions and debt instruments issued under different laws. Local knowledge is key to navigate those… more

Bankruptcy Court, Chapter 11, Commercial Bankruptcy, Creditors, Debt Restructuring

See all updates »

Michael Poulton

Insurers in the securitisation market: Prudential capital and risk transfer

The Basel Accords have, over time, shaped the development of the financial markets as different products become more or less attractive for banks to offer and businesses to take up on a risk-adjusted return basis. After the… more

Basel III, Insurance Industry, Prudential Regulation Authority (PRA), Risk Management, Securitization

See all updates »

Justin Quinn

Kramer Levin Hosts Program With NYCEDC, Related Companies and Vornado to Detail NYC’s Top Economic Development and Investment Opportunities

Kramer Levin hosted a full room of New York City real estate executives for a special event titled “NYC Economic Development Outlook: Investment Opportunities Changing the Market” at the Kramer Levin Multimedia Conference Center… more

Offshore Wind, Real Estate Development, Real Estate Investments, Real Estate Market

See all updates »

Daniel Rabinowitz

Regulatory task force adopts asset adequacy testing for asset-intensive life reinsurance

U.S. life carriers engaging in “asset intensive reinsurance transactions” should consider new requirements for reporting and actuarial testing of these arrangements being developed by the National Association of Insurance… more

Filing Requirements, Insurance Industry, Insurance Regulations, Regulatory Oversight, Regulatory Requirements

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Mark Ramsey

ISDA Opens Consultation on Credit Derivatives DC Review – Key Takeaways as Broader Market Considers Commentary and Action

The International Swaps and Derivatives Association, Inc. (ISDA) recently commissioned law firm Linklaters to conduct an independent assessment of the function, governance and membership of the Credit Derivatives Determinations… more

Conflicts of Interest, Consultation, Derivatives, Financial Markets, ISDA

See all updates »

Jasveer Randhawa

The NSTA’s New Disclosure Policy

On 31 July 2025, the North Sea Transition Authority (NSTA) confirmed its new approach to regulatory transparency by announcing its intention to publicly name companies subject to ongoing investigations and those who fail to meet… more

Disclosure Requirements, Energy Sector, Enforcement Actions, Government Agencies, Investigations

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Morgane Fournel Reicher

France Imposes New Regulatory Regime on Digital Asset Service Providers Seeking to Access the French Market

On Feb. 28, 2023, the French Parliament passed new legislation that modifies the regulatory framework applicable to digital asset service providers based in France, or that provide services in France… more

Cryptocurrency, Digital Assets, Financial Institutions, Financial Regulatory Reform, Financial Services Industry

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Naomi Reed

Certification Tracker of UK Competition Class Actions (CPO Applications) Filed at the Competition Appeal Tribunal

The graphic below tracks the number of competition class actions (CPO applications) filed at the Competition Appeal Tribunal (CAT) since the introduction of a new 'opt-out' regime in the UK in October 2015, as well as the… more

Antitrust Litigation, Certification Requirements, Class Action, Class Certification, Competition

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Mathew Reiman

2025 Employment and Workplace Relations in Australia Legal Guide

The Australian Herbert Smith Freehills Kramer Employment, Industrial Relations and Safety team help our clients achieve success across the full range of workplace issues. In truth, the legal and social environment has never been… more

Australia, Employee Rights, Employer Responsibilities, Employment Policies, International Labor Laws

See all updates »

Abraham Reshtick

Tax Provisions in the One Big Beautiful Bill Act

On July 4, President Trump signed into law the One Big Beautiful Bill Act (the Act). While the Act covers a wide swath of territory, the core of the Act is its tax provisions. The Act (i) makes permanent many of the tax changes… more

Business Taxes, Clean Energy, Energy Projects, Estate Tax, Foreign Tax Credits

See all updates »

Sumaya Ullah Restagno

Supreme Court Rejects Shorter Statute of Limitations in ERISA Case

The Supreme Court in Intel Corporation Investment Policy Committee et al. v. Sulyma, case No. 18–1116, significantly narrowed the circumstances in which a three-year statute of limitations would apply to a claim for breach of… more

Actual or Constructive Knowledge, Appeals, Breach of Duty, Employee Retirement Income Security Act (ERISA), Fiduciary Duty

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Andrew Rich

Takeovers Panel drops a suite of new considerations for voting intention statements

In the recent decision in Re Dropsuite Limited [2025] ATP 10, the Takeovers Panel concluded that a voting intention statement given by a substantial shareholder in the usual form was ‘ambiguous’ as to whether that shareholder… more

Acquisition Agreements, Australia, Corporate Governance, Corporate Sales Transactions, Disclosure Requirements

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David Richards

SEC Charges Investment Adviser for Failing to Adequately Disclose ESG Investment Policies and Procedures

On Nov. 22, 2022, the Securities and Exchange Commission (SEC) charged an investment adviser subsidiary of a major U.S. financial institution with violations of Section 206(4) of the Investment Advisers Act of 1940 (Advisers… more

Cease and Desist, Enforcement Actions, Environmental Social & Governance (ESG), False Statements, Greenwashing

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Rachael Ringer

Debt Dialogue: July 2017 - A New Millennium: Bankruptcy Courts May Lack Constitutional Authority to Approve Nonconsensual Plan Releases

Third-party releases have become a common and oft-litigated issue in connection with confirmation of a Chapter 11 plan. This is especially so if the party being released is the target of claims arising out of questionable… more

Article III, Chapter 11, Commercial Bankruptcy, Corporate Restructuring, Fraud

See all updates »

Veronica Roberts

Navigating Foreign Direct Investment Regulation: Defence

Defence, and the related military and dual-use sectors, encompasses activities supporting defensive and national security capabilities. While some of these activities may be defence-specific, others have applications in both the… more

Business Entities, Cross-Border Transactions, Defense Sector, Foreign Direct Investment, Foreign Investment

See all updates »

James Robinson

Observations on the 2024 CFIUS Annual Report

The Committee on Foreign Investment in the United States (CFIUS), the US foreign direct investment regulator, issues a report each year to the US Congress, detailing CFIUS’s reviews and investigations of foreign acquisitions of,… more

Acquisitions, CFIUS, Cross-Border Transactions, Enforcement Actions, Foreign Direct Investment

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Adam Rogoff

Recent Chapter 15 Cases Show Potential for Non-Consensual Third-Party Releases Based Upon Foreign (Non-U.S.) Proceedings

Last year, the U.S. Supreme Court barred the use of nonconsensual third-party releases in Chapter 11 cases, holding that the Bankruptcy Code did not provide a basis to nonconsensually release claims against third parties (with a… more

Bankruptcy Code, Chapter 15, Comity, Creditors, Debtors

See all updates »

Tzvi Rokeach

Kramer Levin Hosts Program With NYCEDC, Related Companies and Vornado to Detail NYC’s Top Economic Development and Investment Opportunities

Kramer Levin hosted a full room of New York City real estate executives for a special event titled “NYC Economic Development Outlook: Investment Opportunities Changing the Market” at the Kramer Levin Multimedia Conference Center… more

Offshore Wind, Real Estate Development, Real Estate Investments, Real Estate Market

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Jordan Rosenbaum

Ninth Circuit Addresses the Scope of Section 12(a)(2) Liability for Misleading Opinion Statements Under Omnicare

On June 10, 2025, the U.S. Court of Appeals for the Ninth Circuit Pino v. Cardone Capital, LLC reversed in part the dismissal of claims brought under the Securities Act of 1933 based on statements made in connection with two… more

Appeals, Disclosure Requirements, Enforcement Actions, Fraud, Investment

See all updates »

Scott Rosenblum

NYSE Proposes Amendments to Its Related Party and 20% Shareholder Approval Rules

On Dec. 28, 2020, the New York Stock Exchange (NYSE) proposed amendments to its rules requiring shareholder approval prior to the issuance of securities to Related Parties or in excess of 20% of the issuer’s voting power or… more

20% Rule, Listing Rules, NYSE, Publicly-Traded Companies, Regulatory Agenda

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Sakurayuki

New regulation strengthens online safety for children

A new Indonesian government regulation introduces a structured governance framework intended to strengthen online protection for children. This regulation applies to a broad range of electronic systems operators (ESOs),… more

Children's Online Games, Data Collection, Indonesia, New Regulations, Online Safety for Children

See all updates »

Victoria Salisbury

Insurers in the securitisation market: Securitisations of lifetime mortgages

We have seen a marked increase in the volume of structured finance transactions involving lifetime mortgage products in recent years (both funding transactions and the sale and purchase of lifetime mortgage books through… more

Capital Markets, Financial Institutions, Insurance Industry, Investors, Lenders

See all updates »

Kathryn Sanger

Asia Private Capital: Second-Quarter Data and Trends

Two quarters in, Asia's private capital market appears as uncertain as ever. Last year, we repeatedly heard two mantras. First, Asia's private capital market would grow at substantial rates and, second, that GP consolidation… more

Asia, Capital Markets, Exit Strategies, Institutional Investors, Investment Funds

See all updates »

Nikola Saric

The UPC – Two Years On

The Unified Patent Court – a one-stop-shop for European patent litigation – is now two years old. As it enters its third year of operation, we look at the approach that is becoming established in the new system, drawing out key… more

Damages, Discovery, Enforcement, EU, Intellectual Property Protection

See all updates »

Richard Sauber

Corporate Governance: 2024 Year-End Review

As 2025 begins, we cover several significant corporate governance developments that occurred in the second half of 2024 and since our Corporate Governance: 2024 Midyear Review was published in August. We first highlight… more

Corporate Governance, Corporate Transparency Act, Delaware, Enforcement Actions, FinCEN

See all updates »

Robert Schmidt

We Can Work It Out: Overcoming Obstacles to Real Estate Workouts

Real estate lenders and borrowers everywhere are trying to figure out what to do with properties that are either sitting vacant or underperforming pre-pandemic expectations. In New York, a number of mezzanine foreclosures have… more

Borrowers, Chapter 11, Debt Restructuring, Financial Distress, Foreclosure

See all updates »

Florian Schmidt-Bogatzky

The UPC – Two Years On

The Unified Patent Court – a one-stop-shop for European patent litigation – is now two years old. As it enters its third year of operation, we look at the approach that is becoming established in the new system, drawing out key… more

Damages, Discovery, Enforcement, EU, Intellectual Property Protection

See all updates »

Paul Schoeman

US Corporate Governance — 2025 Midyear Review

The Financial Crimes Enforcement Network (FinCEN) issued an interim final rule in March 2025 that removes requirements for US companies to report beneficial ownership information under the Corporate Transparency Act (CTA). The… more

Artificial Intelligence, Beneficial Owner, Compliance, Corporate Governance, Corporate Transparency Act

See all updates »

Dr Morris Schonberg

'The World Has Changed' – What's Next for Global Trade?

The main lesson is the world has changed and the rules of international trade will no longer be those that we have known in the past… more

International Trade, Supply Chain, Tariffs, Trade Policy, Trade Relations

See all updates »

Kelly Schreiber

New York City Amends Paid Safe and Sick Leave Rules to Incorporate Paid Prenatal Leave Requirements

On May 30, the New York City Department of Consumer and Worker Protection (DCWP) published its final amendments to the Rules of the City of New York (RCNY), incorporating into the Earned Sick and Safe Time Act the provision of… more

Employee Benefits, Employee Rights, Employer Responsibilities, Government Agencies, New Regulations

See all updates »

Rachael A. Schuman

2023: The Year of Uncertainty for Employment Lawyers

2023 was, well, a mixed bag. Employers are left wondering what the future state of diversity initiatives in the workplace will look like as various forms of litigation bubble their way up, perhaps again to the U.S. Supreme… more

Affirmative Action, Employer Liability Issues, Non-Compete Agreements, Restrictive Covenants

See all updates »

Steven Segal

Custodial Receipts: A Useful Tool for Restructuring Insured Municipal Bonds

Municipal restructurings pose many challenges distinct from those encountered in a typical corporate bankruptcy. One challenge frequently encountered in the context of a municipal restructuring is how to restructure municipal… more

Assignments, Commercial Bankruptcy, Municipal Bonds, Policy Terms, Restructuring

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Lauren Selby

2025 Employment and Workplace Relations in Australia Legal Guide

The Australian Herbert Smith Freehills Kramer Employment, Industrial Relations and Safety team help our clients achieve success across the full range of workplace issues. In truth, the legal and social environment has never been… more

Australia, Employee Rights, Employer Responsibilities, Employment Policies, International Labor Laws

See all updates »

Paul Selver

City Council Approves Midtown South Mixed-use Plan

On August 14, 2025, the New York City Council voted to approve the Midtown South Mixed-Use Plan, as modified by the City Council Land Use Committee… more

Affordable Housing, City Councils, Economic Development, Infrastructure, Mixed-Use Zoning

See all updates »

Meigan Serle

Taking the “Stress” Out of Distressed Condominium Investments

While many real estate developers are grappling with the costs of the COVID-19 pandemic, astute investors are surveying opportunities, particularly in distressed condominiums. COVID-19 has shined a spotlight on the… more

Condominiums, Coronavirus/COVID-19, Distressed Assets, Financial Distress, Infectious Diseases

See all updates »

Derek Sewall

Pause on Visa Appointments for Student and Exchange Visitor Visa Applicants as Social Media Vetting Expands

On May 27, 2025, the Trump administration ordered U.S. embassies and consulates to pause scheduling new visa appointments for student and exchange visitor applicants until an expanded social media screening and vetting process… more

Department of Homeland Security (DHS), Executive Orders, Foreign Nationals, Immigration Procedures, Immigration Reform

See all updates »

Linda Sharkey

ISDA Opens Consultation on Credit Derivatives DC Review – Key Takeaways as Broader Market Considers Commentary and Action

The International Swaps and Derivatives Association, Inc. (ISDA) recently commissioned law firm Linklaters to conduct an independent assessment of the function, governance and membership of the Credit Derivatives Determinations… more

Conflicts of Interest, Consultation, Derivatives, Financial Markets, ISDA

See all updates »

Jennifer Sharret

Debt Dialogue: May 2017 - Supreme Court to Hear Circuit Split Over Bankruptcy Safe Harbor Provision

The Supreme Court has granted certiorari in Merit Management Group L.P. v. FTI Consulting Inc. to resolve a circuit split over the interpretation of Section 546(e) of the Bankruptcy Code, the “safe harbor” provision that shields… more

Chapter 11, Commercial Bankruptcy, Fraudulent Transfers, Merit Management Group v FTI Consulting, Reorganizations

See all updates »

Marjorie Sheldon

Delaware Court of Chancery Allows Caremark Claim To Proceed Against Boeing Directors

In a significant decision, the Delaware Court of Chancery recently denied a motion to dismiss, thus allowing discovery to proceed, on a Caremark claim against the directors of The Boeing Company (Boeing), arising out of the… more

Board of Directors, Boeing, Breach of Duty, Caremark claim, Corporate Governance

See all updates »

Emily Shepherd

2025 Employment and Workplace Relations in Australia Legal Guide

The Australian Herbert Smith Freehills Kramer Employment, Industrial Relations and Safety team help our clients achieve success across the full range of workplace issues. In truth, the legal and social environment has never been… more

Australia, Employee Rights, Employer Responsibilities, Employment Policies, International Labor Laws

See all updates »

Emma Sherratt

The UPC – Two Years On

The Unified Patent Court – a one-stop-shop for European patent litigation – is now two years old. As it enters its third year of operation, we look at the approach that is becoming established in the new system, drawing out key… more

Damages, Discovery, Enforcement, EU, Intellectual Property Protection

See all updates »

Benjamin Sieck

Texas Bankruptcy Court Determines Bankruptcy Code does not Permit it to Delay Debtor Rent Obligations Beyond 60-Day Statutory Period

In In re CEC Entertainment, Inc., et al., 20-33163, 2020 WL 7356380 (Bankr. S.D. Tex. Dec. 14, 2020), the Bankruptcy Court for the Southern District of Texas held that the Bankruptcy Code does not permit the court to alter a… more

Abatement, Bankruptcy Code, Bankruptcy Court, Commercial Bankruptcy, Commercial Leases

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Norman Simon

[Webinar] Advertising Litigation Quarterly Highlights - October 12th, 12:30 pm - 1:30 pm EST

Join us for our Advertising Litigation Quarterly Highlights webinar series. Our Editorial Team will conduct a deep dive on key decisions of interest covered in our recent Advertising Litigation Reports… more

Advertising, Continuing Legal Education, False Advertising, Marketing, Webinars

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Jonaki Singh

Corporate Governance: 2024 Midyear Review

In this midyear update, we cover a number of significant corporate governance developments that have taken place over the first half of the year and since our Corporate Governance 2023 Year-End Review… more

Board of Directors, Corporate Governance, FinCEN, Securities and Exchange Commission (SEC), Shareholders

See all updates »

Shaked Sivan

The Ocean Shipping Antitrust Enforcement Act and Antitrust Scrutiny of Ocean Common Carriers

On Feb. 28, Rep. Jim Costa (D-Calif.) introduced proposed legislation[1] titled the Ocean Shipping Antitrust Enforcement Act (the Act), which would repeal 46 U.S.C. § 40307,[2] a statute conferring certain antitrust exemptions… more

Antitrust Investigations, Antitrust Provisions, Competition, Department of Justice (DOJ), Maritime Transport

See all updates »

Fiona Smedley

LP-led Fund Secondaries – What You Need to Know

Fund secondaries transactions have grown enormously over the last 20 years or so. Recently, funds have been under pressure to return capital to investors in the context of a range of market constraints on traditional exit routes… more

Capital Markets, Due Diligence, Fund Managers, Investment Funds, Limited Partnerships

See all updates »

Peter Smith

SEC Adopts T+1 Settlement Cycle

On Feb. 15, the Securities and Exchange Commission (SEC) adopted final rule amendments to Exchange Act Rule 15c6-1 to shorten the standard settlement cycle for most securities transactions from two business days after trade date… more

Broker-Dealer, Capital Markets, Final Rules, Securities and Exchange Commission (SEC), Securities Exchange Act

See all updates »

Lisa Soo

2025 Employment and Workplace Relations in Australia Legal Guide

The Australian Herbert Smith Freehills Kramer Employment, Industrial Relations and Safety team help our clients achieve success across the full range of workplace issues. In truth, the legal and social environment has never been… more

Australia, Employee Rights, Employer Responsibilities, Employment Policies, International Labor Laws

See all updates »

Hannah Sosland

California Supreme Court Confirms General Enforceability of Delaware Court of Chancery Forum Selection Clauses

Forum selection clauses have long been a feature of commercial contracting. Since then-Chancellor Strine’s decision in Boilermakers Local 154 Ret. Fund v. Chevron Corp., Delaware corporations have routinely included such clauses… more

Breach of Contract, Business Litigation, CA Supreme Court, Corporate Governance, Delaware

See all updates »

Howard Spilko

Drafting Effective RWI Coverage Exclusions

Coverage exclusions are a key risk management tool for transactional liability insurers. But they can also be traps for the unwary. In the event of a claims dispute, the insurer will likely bear the burden of proving that an… more

Commercial Insurance Policies, Contract Negotiations, Purchase Agreement, Representations and Warranties, Representations and Warranties Insurance

See all updates »

Charles Steward

UK Public M&A Monthly Activity Update: July 2025

In July 2025, there were five Rule 2.7 announcements made across the UK public M&A market and three further possible offers announced… more

Acquisitions, Capital Markets, Corporate Governance, Financial Markets, Mergers

See all updates »

Amalia Stone

Australian Productivity Commission Proposes Text & Data Mining Exception to Copyright Infringement for AI Training

In response to a request to identify ‘priority reforms’ under the Australian Government’s productivity growth agenda, on 5 August 2025 the Productivity Commission released an interim report entitled Harnessing data and digital… more

Artificial Intelligence, Australia, Copyright, Copyright Infringement, Data Mining

See all updates »

Timothy Stutt

Australian Government Seeks Comments on Changes to the Modern Slavery Act

As the Australian Government seeks to strengthen the transparency and effectiveness of the Modern Slavery Act (the Act), a series of reviews and responses have been conducted. In May 2023, conclusions from the first statutory… more

Australia, Consultation, Modern Slavery Act, Penalties, Public Comment

See all updates »

Patrick Sullivan

Litigation To Invalidate ‘City of Yes’ Zoning for Housing Opportunity Initiated

A group of seven New York City Council members announced this morning that they, together with other elected officials, civic organizations and individuals, were initiating litigation to challenge the validity of the whole of… more

Affordable Housing, Environmental Litigation, Environmental Policies, Housing Developers, Infrastructure

See all updates »

Hailey Tahk

Corporate Governance: 2024 Year-End Review

As 2025 begins, we cover several significant corporate governance developments that occurred in the second half of 2024 and since our Corporate Governance: 2024 Midyear Review was published in August. We first highlight… more

Corporate Governance, Corporate Transparency Act, Delaware, Enforcement Actions, FinCEN

See all updates »

Kwok Tang

The Network Behind the Wheels: Communications Laws and the Future of Connected and Autonomous Vehicles

As connected and autonomous vehicle (CAV) technologies continue to advance, governments across Australia are beginning to reshape infrastructure policy to support CAV integration into broader transport systems. Many states have… more

5G Network, Australia, Connected Cars, Driverless Cars, Infrastructure

See all updates »

Eva Tanna

US Senate Holds Hearing on Bipartisan AI Framework and Conducts First AI Insight Forum

As various foreign jurisdictions pursue legislation to address recent developments in artificial intelligence (AI), the U.S. Senate has followed suit in at least two developments this month. On Sept. 12, the Subcommittee on… more

Artificial Intelligence, Facial Recognition Technology, Machine Learning, Transparency

See all updates »

Jeffrey Taub

Ninth Circuit Addresses the Scope of Section 12(a)(2) Liability for Misleading Opinion Statements Under Omnicare

On June 10, 2025, the U.S. Court of Appeals for the Ninth Circuit Pino v. Cardone Capital, LLC reversed in part the dismissal of claims brought under the Securities Act of 1933 based on statements made in connection with two… more

Appeals, Disclosure Requirements, Enforcement Actions, Fraud, Investment

See all updates »

Adam Taubman

City Council Approves Midtown South Mixed-use Plan

On August 14, 2025, the New York City Council voted to approve the Midtown South Mixed-Use Plan, as modified by the City Council Land Use Committee… more

Affordable Housing, City Councils, Economic Development, Infrastructure, Mixed-Use Zoning

See all updates »

Kathleen Telfer

Corporate Governance: 2024 Year-End Review

As 2025 begins, we cover several significant corporate governance developments that occurred in the second half of 2024 and since our Corporate Governance: 2024 Midyear Review was published in August. We first highlight… more

Corporate Governance, Corporate Transparency Act, Delaware, Enforcement Actions, FinCEN

See all updates »

Christopher Theris

Navigating Foreign Direct Investment Regulation: Defence

Defence, and the related military and dual-use sectors, encompasses activities supporting defensive and national security capabilities. While some of these activities may be defence-specific, others have applications in both the… more

Business Entities, Cross-Border Transactions, Defense Sector, Foreign Direct Investment, Foreign Investment

See all updates »

Carlos Tirado

Texas Positions Itself as a Privacy Enforcement Leader

Since the Texas Data Privacy and Security Act (TDPSA) took effect in July 2024, Texas has emerged as a leader in privacy enforcement. The Texas attorney general (AG) recently announced: “Any entity abusing or exploiting Texans’… more

Biometric Information, Cybersecurity, Data Privacy, Data Protection, Data Security

See all updates »

Marc Tkatcheff

Luxembourg: Explaining the New Carried Interest Tax Regime

On 24 July 2025, the Luxembourg government introduced Bill No. 8590 (the Bill), which proposes a new competitive carried interest tax regime with the stated objectives being: to create a legal framework that fosters the growth… more

Alternative Investment Funds, Carried Interest, Fund Managers, Investment Funds, Luxembourg

See all updates »

Josh Todd

Decoding Tokenisation: An introduction

In the rapidly expanding and evolving digital economy, tokenisation is primed to transform how we interact with assets. By creating digital representations of real-world assets on a distributed ledger, tokenisation promises to… more

Blockchain, Digital Assets, Financial Markets, FinTech, Investment

See all updates »

Nicholas Tonckens

Independent Cybersecurity Audits Will Be Required for ‘Significant Risk’ Under CCPA

The California Privacy Protection Agency (CPPA) has unanimously adopted new regulations requiring certain businesses subject to the California Consumer Privacy Act (CCPA) to conduct annual audits of their cybersecurity programs,… more

Audits, California Consumer Privacy Act (CCPA), California Privacy Protection Agency (CPPA), Cybersecurity, Data Privacy

See all updates »

Philippe Träm

The UPC – Two Years On

The Unified Patent Court – a one-stop-shop for European patent litigation – is now two years old. As it enters its third year of operation, we look at the approach that is becoming established in the new system, drawing out key… more

Damages, Discovery, Enforcement, EU, Intellectual Property Protection

See all updates »

Eugene Travers

City Council Approves Midtown South Mixed-use Plan

On August 14, 2025, the New York City Council voted to approve the Midtown South Mixed-Use Plan, as modified by the City Council Land Use Committee… more

Affordable Housing, City Councils, Economic Development, Infrastructure, Mixed-Use Zoning

See all updates »

Kaman Tsoi

2025 Employment and Workplace Relations in Australia Legal Guide

The Australian Herbert Smith Freehills Kramer Employment, Industrial Relations and Safety team help our clients achieve success across the full range of workplace issues. In truth, the legal and social environment has never been… more

Australia, Employee Rights, Employer Responsibilities, Employment Policies, International Labor Laws

See all updates »

Jonathan Turnbull

The UPC – Two Years On

The Unified Patent Court – a one-stop-shop for European patent litigation – is now two years old. As it enters its third year of operation, we look at the approach that is becoming established in the new system, drawing out key… more

Damages, Discovery, Enforcement, EU, Intellectual Property Protection

See all updates »

Thomas M. Twitchell

President Biden Issues Executive Order Framing His Administration’s Approach to Regulating Digital Assets

On Wednesday, March 9, 2022, President Biden issued a long-awaited Executive Order, Ensuring Responsible Development of Digital Assets, that outlined a whole-of-government approach to regulating digital assets… more

Biden Administration, Central Bank Digital Currency (CBDCs), Cryptocurrency, Digital Assets, Financial Crimes

See all updates »

Lode Van Den Hende

'The World Has Changed' – What's Next for Global Trade?

The main lesson is the world has changed and the rules of international trade will no longer be those that we have known in the past… more

International Trade, Supply Chain, Tariffs, Trade Policy, Trade Relations

See all updates »

Anthony Vasey

Asia Private Capital: Second-Quarter Data and Trends

Two quarters in, Asia's private capital market appears as uncertain as ever. Last year, we repeatedly heard two mantras. First, Asia's private capital market would grow at substantial rates and, second, that GP consolidation… more

Asia, Capital Markets, Exit Strategies, Institutional Investors, Investment Funds

See all updates »

Michelle Velasco

Pause on Visa Appointments for Student and Exchange Visitor Visa Applicants as Social Media Vetting Expands

On May 27, 2025, the Trump administration ordered U.S. embassies and consulates to pause scheduling new visa appointments for student and exchange visitor applicants until an expanded social media screening and vetting process… more

Department of Homeland Security (DHS), Executive Orders, Foreign Nationals, Immigration Procedures, Immigration Reform

See all updates »

Michelle Virgiany

New regulation strengthens online safety for children

A new Indonesian government regulation introduces a structured governance framework intended to strengthen online protection for children. This regulation applies to a broad range of electronic systems operators (ESOs),… more

Children's Online Games, Data Collection, Indonesia, New Regulations, Online Safety for Children

See all updates »

Elise Wagner

City Council Approves Midtown South Mixed-use Plan

On August 14, 2025, the New York City Council voted to approve the Midtown South Mixed-Use Plan, as modified by the City Council Land Use Committee… more

Affordable Housing, City Councils, Economic Development, Infrastructure, Mixed-Use Zoning

See all updates »

Jonathan Wagner

California Supreme Court Confirms General Enforceability of Delaware Court of Chancery Forum Selection Clauses

Forum selection clauses have long been a feature of commercial contracting. Since then-Chancellor Strine’s decision in Boilermakers Local 154 Ret. Fund v. Chevron Corp., Delaware corporations have routinely included such clauses… more

Breach of Contract, Business Litigation, CA Supreme Court, Corporate Governance, Delaware

See all updates »

Simon Walker

More From the Panel About On-market Purchases Above the Bid Price

The Takeovers Panel has declined to make a declaration of unacceptable circumstances in the recent New World Resources Limited 02 case, despite concerns about the bidder’s delay in disclosing on-market purchases of shares at… more

Acquisitions, Corporate Governance, Disclosure Requirements, Mergers, Regulatory Requirements

See all updates »

Chris Walters

Navigating Foreign Direct Investment Regulation: Defence

Defence, and the related military and dual-use sectors, encompasses activities supporting defensive and national security capabilities. While some of these activities may be defence-specific, others have applications in both the… more

Business Entities, Cross-Border Transactions, Defense Sector, Foreign Direct Investment, Foreign Investment

See all updates »

Andrew Ward

Kirschner v. JPMorgan Chase: What It Means for Syndicated Loans and Its Implications for the Secondary Trading Market

On May 22, Judge Paul Gardephe of the U.S. District Court for the Southern District of New York granted a motion to dismiss in Kirschner v. JPMorgan Chase Bank, N.A., a case that, among other things, considered whether the… more

JPMorgan Chase, Popular, Secondary Markets, Securities Regulation, Syndicated Loans

See all updates »

Megan Wasson

Recent Chapter 15 Cases Show Potential for Non-Consensual Third-Party Releases Based Upon Foreign (Non-U.S.) Proceedings

Last year, the U.S. Supreme Court barred the use of nonconsensual third-party releases in Chapter 11 cases, holding that the Bankruptcy Code did not provide a basis to nonconsensually release claims against third parties (with a… more

Bankruptcy Code, Chapter 15, Comity, Creditors, Debtors

See all updates »

David Webb

The UPC – Two Years On

The Unified Patent Court – a one-stop-shop for European patent litigation – is now two years old. As it enters its third year of operation, we look at the approach that is becoming established in the new system, drawing out key… more

Damages, Discovery, Enforcement, EU, Intellectual Property Protection

See all updates »

Ernest Wechsler

HControl Holdings v. Antin Infrastructure Partners: Terminating a Merger Agreement for Immaterial Breach (and Other Holdings)

A recent posttrial decision from Delaware regarding an alleged breach of a capitalization representation in a merger agreement is noteworthy. The decision establishes that a party is within its rights to back out of a deal even… more

Breach of Contract, Capitalization, Commercial Contracts, Contract Disputes, Contract Termination

See all updates »

Daniel Weiss

Tax Provisions in the One Big Beautiful Bill Act

On July 4, President Trump signed into law the One Big Beautiful Bill Act (the Act). While the Act covers a wide swath of territory, the core of the Act is its tax provisions. The Act (i) makes permanent many of the tax changes… more

Business Taxes, Clean Energy, Energy Projects, Estate Tax, Foreign Tax Credits

See all updates »

Robert Weiss

US Supreme Court Grants Certiorari to Decide Whether Section 47(b) of the Investment Company Act Allows for a Private Right of Action

On June 30, 2025, the Supreme Court granted certiorari in FS Credit Opportunities Corp., et al. v. Saba Capital Master Fund, Ltd., et al., 24-345 to resolve a circuit split over whether Section 47(b) of the Investment Company… more

Appeals, Contract Disputes, Investment Company Act of 1940, Investment Funds, Private Right of Action

See all updates »

Andrew Wells

The UPC – Two Years On

The Unified Patent Court – a one-stop-shop for European patent litigation – is now two years old. As it enters its third year of operation, we look at the approach that is becoming established in the new system, drawing out key… more

Damages, Discovery, Enforcement, EU, Intellectual Property Protection

See all updates »

Samantha Wells

2025 Employment and Workplace Relations in Australia Legal Guide

The Australian Herbert Smith Freehills Kramer Employment, Industrial Relations and Safety team help our clients achieve success across the full range of workplace issues. In truth, the legal and social environment has never been… more

Australia, Employee Rights, Employer Responsibilities, Employment Policies, International Labor Laws

See all updates »

Christian Wettre

Privacy, Cybersecurity and Data Innovation Law — 2024 Year in Review

2024 saw continued expansion of laws, regulations and enforcement actions concerning privacy and data security. With no overarching federal privacy law, states continue to expand their enforcement. Four new comprehensive state… more

California Privacy Protection Agency (CPPA), Cybersecurity, Data Privacy, Data Protection, Data Security

See all updates »

Ashlee Wheeldon

2025 Employment and Workplace Relations in Australia Legal Guide

The Australian Herbert Smith Freehills Kramer Employment, Industrial Relations and Safety team help our clients achieve success across the full range of workplace issues. In truth, the legal and social environment has never been… more

Australia, Employee Rights, Employer Responsibilities, Employment Policies, International Labor Laws

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Eric White

'The World Has Changed' – What's Next for Global Trade?

The main lesson is the world has changed and the rules of international trade will no longer be those that we have known in the past… more

International Trade, Supply Chain, Tariffs, Trade Policy, Trade Relations

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Matthew White

Crossing Jurisdictions - Dealing With Tenant Insolvency in the European and US Commercial Real Estate Markets

The global commercial real estate market paints a varied picture, with certain jurisdictions and sectors recovering quicker than others from the COVID-19 pandemic and continuing geopolitical uncertainty. Higher interest rates… more

Commercial Bankruptcy, Commercial Real Estate Market, EU, France, Germany

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John Whiteoak

HSF Kramer Bankruptcy & Restructuring Group Global reach, local knowledge

Debtors and creditors have options when choosing where to pursue a restructuring – particularly with operations across jurisdictions and debt instruments issued under different laws. Local knowledge is key to navigate those… more

Bankruptcy Court, Chapter 11, Commercial Bankruptcy, Creditors, Debt Restructuring

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Cameron Whittfield

Protecting your business: The implications of Australia’s new privacy tort

On 10 June 2025, the new statutory tort for serious invasions of privacy came into force as part of a suite of privacy reforms passed last year, substantially enhancing privacy protections and signalling a material shift in… more

Australia, Class Action, Corporate Counsel, Data Breach, Data Protection

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Stephen Wilkinson

UK Public M&A Monthly Activity Update: July 2025

In July 2025, there were five Rule 2.7 announcements made across the UK public M&A market and three further possible offers announced… more

Acquisitions, Capital Markets, Corporate Governance, Financial Markets, Mergers

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Gavin Williams

Built to Last: The Resilient Infrastructure Challenge

As climate change, geopolitical instability, cyber threats and surging demand place more pressure on infrastructure, governments, investors and operators must rethink what it means for assets to be truly resilient… more

Climate Change, Cybersecurity, Geopolitical Risks, Infrastructure, Infrastructure Financing

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Celeste Williams

LL97: Countdown to Compliance

The first compliance period for building owners under Local Law 97 (LL97), New York City’s (NYC) landmark climate change legislation, began this year on Jan. 1. Subject to limited exceptions, property owners are required to… more

Energy Conservation, Greenhouse Gas Emissions, Investment, Property Owners, Real Estate Transactions

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Joe Williams

Certification Tracker of UK Competition Class Actions (CPO Applications) Filed at the Competition Appeal Tribunal

The graphic below tracks the number of competition class actions (CPO applications) filed at the Competition Appeal Tribunal (CAT) since the introduction of a new 'opt-out' regime in the UK in October 2015, as well as the… more

Antitrust Litigation, Certification Requirements, Class Action, Class Certification, Competition

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Josh Winefsky

Kramer Levin Hosts Program With NYCEDC, Related Companies and Vornado to Detail NYC’s Top Economic Development and Investment Opportunities

Kramer Levin hosted a full room of New York City real estate executives for a special event titled “NYC Economic Development Outlook: Investment Opportunities Changing the Market” at the Kramer Levin Multimedia Conference Center… more

Offshore Wind, Real Estate Development, Real Estate Investments, Real Estate Market

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Stephen Wisking

Certification Tracker of UK Competition Class Actions (CPO Applications) Filed at the Competition Appeal Tribunal

The graphic below tracks the number of competition class actions (CPO applications) filed at the Competition Appeal Tribunal (CAT) since the introduction of a new 'opt-out' regime in the UK in October 2015, as well as the… more

Antitrust Litigation, Certification Requirements, Class Action, Class Certification, Competition

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Erica Wolf

New York Court of Appeals Distinguishes Marblegate, Holds Majority-Directed Strict Foreclosure Violates Indenture and Minority Noteholders’ Absolute Legal Right to Payment

On October 22, 2020, in a 4-3 opinion, the Court of Appeals for the State of New York held that the right of certain dissenting minority noteholders to sue for nonpayment following a default survived a strict foreclosure,… more

Appeals, Financial Instruments, Foreclosure, Noteholders, Reversal

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Nathan Wolfe

SEC Adopts ‘Names Rule’ Changes

On Sept. 20, the Securities and Exchange Commission (SEC) adopted amendments to Rule 35d-1, more commonly known as the “Names Rule,” under the Investment Company Act of 1940 (Investment Company Act). These amendments are… more

Amended Rules, Disclosure Requirements, Investment Company Act of 1940, Securities and Exchange Commission (SEC)

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Christine Wong

Protecting your business: The implications of Australia’s new privacy tort

On 10 June 2025, the new statutory tort for serious invasions of privacy came into force as part of a suite of privacy reforms passed last year, substantially enhancing privacy protections and signalling a material shift in… more

Australia, Class Action, Corporate Counsel, Data Breach, Data Protection

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Anthony Wood

2025 Employment and Workplace Relations in Australia Legal Guide

The Australian Herbert Smith Freehills Kramer Employment, Industrial Relations and Safety team help our clients achieve success across the full range of workplace issues. In truth, the legal and social environment has never been… more

Australia, Employee Rights, Employer Responsibilities, Employment Policies, International Labor Laws

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James Wood

The NSTA’s New Disclosure Policy

On 31 July 2025, the North Sea Transition Authority (NSTA) confirmed its new approach to regulatory transparency by announcing its intention to publicly name companies subject to ongoing investigations and those who fail to meet… more

Disclosure Requirements, Energy Sector, Enforcement Actions, Government Agencies, Investigations

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Jacqueline Wootton

Australian Government Seeks Comments on Changes to the Modern Slavery Act

As the Australian Government seeks to strengthen the transparency and effectiveness of the Modern Slavery Act (the Act), a series of reviews and responses have been conducted. In May 2023, conclusions from the first statutory… more

Australia, Consultation, Modern Slavery Act, Penalties, Public Comment

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Edward Wu

Time’s Up: NSW Court of Appeal Reminder About the Importance of Understanding and Hitting Security of Payment Deadlines

The NSW Court of Appeal in Roberts Co (NSW) Pty Ltd v Sharvain Facades Pty Ltd (Administrators Appointed) [2025] NSWCA 161 has confirmed that, under the Building and Construction Industry Security of Payment Act 1999 (NSW) (the… more

Appeals, Australia, Construction Contracts, Construction Disputes, Construction Industry

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Renee Yao

The End of LIBOR

On March 5, 2021, the ICE Benchmark Administration (IBA), UK Financial Conduct Authority (FCA) and International Swaps and Derivatives Association (ISDA) made important announcements regarding the timelines of the cessations of… more

Alternative Reference Rates Committee (ARRC), Benchmarks, Financial Conduct Authority (FCA), Financial Institutions, Interest Rates

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Drew Zagami

DOJ resumes FCPA enforcement with new guidelines

On June 10, 2025, the head of the Criminal Division of the Department of Justice (DOJ), Matthew Galeotti, declared in a speech that the DOJ would resume enforcing the Foreign Corrupt Practices Act (FCPA). This announcement came… more

Anti-Corruption, Bribery, Corporate Misconduct, Department of Justice (DOJ), Enforcement Actions

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Eleni Zanias

Court Dismisses Stockholder Suit Against Meta: Affirms a Firm-Specific Model of Corporate Management

On April 30, 2024, the Delaware Court of Chancery dismissed a stockholder lawsuit against social media giant Meta Platforms, Inc., its board of directors and company founder, Mark Zuckerberg. The decision rejected novel claims… more

Board of Directors, Breach of Duty, Fiduciary Duty, Investors, Shareholders

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Logan Zavala

Pause on Visa Appointments for Student and Exchange Visitor Visa Applicants as Social Media Vetting Expands

On May 27, 2025, the Trump administration ordered U.S. embassies and consulates to pause scheduling new visa appointments for student and exchange visitor applicants until an expanded social media screening and vetting process… more

Department of Homeland Security (DHS), Executive Orders, Foreign Nationals, Immigration Procedures, Immigration Reform

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Daniel Zimmerman

US Securities and Exchange Commission “Concept Release” on the definition of “Foreign Private Issuer”: The revisions could have significant impact on foreign private issuers accessing the US capital markets

On June 4, 2025, the US Securities and Exchange Commission (SEC) issued a “Concept Release” that will be of significant interest to our “foreign private issuer” (“FPI”) clients, their shareholders, and our investment banking… more

Capital Markets, Corporate Governance, Disclosure Requirements, Foreign Private Issuers, Proposed Rules

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Michael Zimmerman

Pause on Visa Appointments for Student and Exchange Visitor Visa Applicants as Social Media Vetting Expands

On May 27, 2025, the Trump administration ordered U.S. embassies and consulates to pause scheduling new visa appointments for student and exchange visitor applicants until an expanded social media screening and vetting process… more

Department of Homeland Security (DHS), Executive Orders, Foreign Nationals, Immigration Procedures, Immigration Reform

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