GT London Law Blog

GT London Law Blog

Legal Advisers for a Changing World

Tag Archives: gtlaw

Top 5 Predictions for UK White Collar Defence in 2019

Posted in Brexit, criminal law, Government, International Law, White collar
What does 2019 have in store for white-collar defence in the UK? In this GT Alert, we list our top 5 predictions relating to Serious Fraud Office (SFO) Director Lisa Osofsky, who indicated various areas of focus for her tenure; Brexit and the potential loss of the European Arrest Warrant regime and the U.K.’s access to EU… Continue Reading

The Financial Conduct Authority – Part 1 – Market Manipulation

Posted in criminal law, FCA, Financial Conduct Authority, spoofing, White collar
The term ‘market manipulation’ is a broad one which can mean a number of things. In this GT Advisory, we consider how market manipulation is approached in the U.K. in both a civil and criminal context, and how it has been enforced by the U.K.’s Financial Conduct Authority (FCA). We also discuss spoofing, a tactic… Continue Reading

Failure to Prevent Tax Evasion: Forgotten, but Not Gone

Posted in criminal law, Tax, tax evasion, White collar
The new offences introduced by the Criminal Finances Act 2017 (the Act), although widely publicised in the months leading up to its commencement, have received little attention since from commentators and, seemingly, the enforcement authorities. The two new offences govern U.K. and non-U.K. tax and are targeted at criminalising a corporate entity or partnership’s (broadly,… Continue Reading

Prove It or Lose It! Part III: A Step Too Far? Account Freezing Orders & Account Forfeiture Orders

Posted in criminal law, White collar
Part III of our series on asset recovery powers available to UK law enforcement authorities focuses on new powers under the Criminal Finances Act 2017 to obtain orders to freeze bank accounts and apply for forfeiture orders, permanently depriving the account holder of the funds contained in the account. These draconian new powers have received little publicity… Continue Reading

Brexit – Where Now?

Posted in Brexit, Government, International Law, International Trade
At their summit on 25 November, the leaders of the EU27 states approved the draft agreement providing for the U.K.’s withdrawal from the EU. The EU and U.K. also issued a joint statement outlining the framework for the post-Brexit EU/U.K. relationship. These developments, although much-awaited, give little legal certainty in the short term. Draft Withdrawal… Continue Reading

Prove It or Lose It! Part II: Civil Recovery Orders

Posted in White collar
In the first of our two-part series, we looked at Unexplained Wealth Orders (UWOs). To summarize, UWOs require the recipient to explain how they obtained their wealth/assets, which authorities have reasonable grounds to suspect could not have been with the recipient’s known sources of income. The UWO is the beginning of a journey that can result… Continue Reading

Greenberg Traurig Advises On Hotel Deal Valued At Approximately £858 Million

Posted in Corporate, M&A, Real Estate
LONDON – 6 August 2018 – A multidisciplinary London-based team at global law firm Greenberg Traurig, LLP advised InterContinental Hotels Group plc on its arrangements with French real estate investor Covivio (formerly Foncière des Régions) to rebrand and operate 12 high-quality open hotels and one pipeline hotel in the UK following the acquisition of the… Continue Reading

SFO Carries out 30 Property Raids as Part of Criminal Investigations – Over Triple the Number the Year Before

Posted in White collar
But raids as part of asset seizure probes fall to zero LONDON – 26 July 2018 – The UK Serious Fraud Office (SFO) launched 30 property raids to gather evidence for its ongoing criminal investigations (i.e. before prosecution takes place) in the previous 12 months year ending March 31. The number is more than triple… Continue Reading

CJEU: Online Platform Bans in Selective Distribution Arrangements Permitted Where They Protect ‘Aura of Luxury’ of Luxury Goods – But What is a ‘Luxury’ Good?

Posted in Antitrust Trade & Regulation
On 6 December 2017 the EU Court of Justice (CJEU) issued its long-awaited preliminary ruling in the case of Coty Germany GmbH v Parfümerie Akzente Gmbh, on issues referred from a Frankfurt court concerning the distribution of luxury goods. The ruling follows the approach recommended in the opinion of CJEU Advocate General Wahl, issued in… Continue Reading

EU General Data Protection Regulation: What Impact for Franchise Businesses?

Posted in Brexit, Cybersecurity, Data Privacy
One of the most important assets that a franchise business has is its customer data. For a franchise business, data protection/data privacy regulation should be a key compliance issue. This is particularly the case in Europe, which has had comprehensive data protection laws for many years, and is reforming those laws into a legislative framework… Continue Reading

Foreign Investment and National Security: Stricter Controls Proposed by the EU and UK

Posted in Government, Investments
Within the last few weeks, both the EU and the UK have published proposals for greater screening and control of foreign direct investments (FDI) into their territories. In both cases, these proposals seek to balance the protection of critical national infrastructure and technology on the one hand and an open foreign investment environment on the… Continue Reading

Greenberg Traurig Represented CVC Capital Partners in the Acquisition of Leading Convenience Retailer Żabka from Mid Europa Partners

Posted in M&A
Greenberg Traurig advised CVC Capital Partners with respect to an agreement for the acquisition of Żabka Polska from Mid Europa Partners. The transaction is subject to customary competition authority clearance. The sale of Żabka is the largest ever transaction in the Polish food retail sector and the largest ever private equity exit in Poland. Żabka… Continue Reading

Another Major Step for Greenberg Traurig’s Already Strong European Real Estate Sector: Danielle Martin to Join in London as Shareholder

Posted in New Hire, Real Estate
Greenberg Traurig is pleased to confirm that Danielle Martin has announced she will leave Reed Smith to join us as a shareholder in London, adding to the momentum since the six-partner KWM group joined us there last week. Dani focuses her practice on complex transactions in the private equity real estate sector and is set… Continue Reading

The Equality Act (Gender Pay Gap Information) Regulations 2017

Posted in Employment law
Background The final draft of the Equality Act (Gender Pay Gap Information) Regulations 2017 (the Regulations) and accompanying Explanatory Memorandum was published 6 December 2016. Subject to parliamentary approval, the Regulations will come into force 6 April 2017. The Regulations introduce a mandatory gender pay gap reporting requirement for non-public sector employers with at least… Continue Reading

The Apprenticeship Levy

Posted in Employment law
The way apprenticeships are funded in the UK is changing as of Spring 2017. With this change, some employers will be required to contribute to a new apprenticeship levy and there will also be changes to the funding for apprenticeship training for all employers. The Apprenticeship Levy (the Levy) will come into effect 6 April… Continue Reading

Brexit: The Great Repeal Bill and the EU’s Chemicals, Emissions, and Medicines Regimes

Posted in Brexit, Environmental
As discussed in our recent GT Alert, “Brexit: 100 Day Update“,  the UK Prime Minister Theresa May recently announced plans for a “Great Repeal Bill” for the repeal of the 1972 European Communities Act (ECA). Under the ECA, European Union (EU) law was established as part of the UK’s legal order and was given supremacy… Continue Reading

New Anti-Corruption Law in France: Mandatory Compliance Program for Large Companies

Posted in Compliance Programs, Corporate
On 8 November 2016, the French Parliament approved new anti-corruption legislation.  Championed by the Minister of Finance Michel Sapin, the law that is commonly known as Sapin II will fundamentally change the compliance landscape for French companies.  In particular, it will place a positive obligation on large companies, and their subsidiaries, to implement anti-corruption compliance… Continue Reading

Online Gambling in the UK – CMA Investigates Consumer Protection Concerns

Posted in Gaming
The UK’s Competition and Markets Authority (CMA) has recently launched an investigation into the treatment of customers by online gambling companies. This is in response to concerns raised by the Gambling Commission that certain aspects of behaviour by online gambling companies, including misleading promotions, unfair terms, and the blocking of payouts might be breaching consumer… Continue Reading

Environmental Crimes by Companies Will Now be Prosecuted at the International Criminal Court

Posted in Environmental, International Law
The International Criminal Court (ICC) announced on 15 September 2016 that it will start to investigate environmental crimes under international law, raising the prospect that company executives could be prosecuted in The Hague in respect of corporate activities with serious environmental impacts. An ICC policy paper on case selection and prioritisation states that the ICC… Continue Reading

Brexit: Implications for the Gaming Industry

Posted in Brexit, Gaming, M&A
This note addresses the impact of Brexit on the gaming industry. It is one of a series of GTM Alerts designed to assist businesses in identifying the legal issues to consider and address in response to the UK’s referendum vote of 23 June 2016 to withdraw from the European Union. In particular, it considers the… Continue Reading

Breach of Warranty Claims – Teoco UK Limited (Claimant) v Aircom Jersey 4 Limited and Aircom Global Operations Limited (Defendants) [2015] EWHC (Ch)

Posted in Corporate, M&A
In the recent case of Teoco UK Limited v Aircom Jersey 4 Limited and Aircom Global Operations Limited [2015] EWHC (Ch), the High Court considered the validity of breach of warranty claim notification letters. Facts The claimant acquired two companies and their subsidiaries from the defendants. In the sale and purchase agreement (“SPA”) the defendants… Continue Reading