UK

Briefings in English - 2010

This guide covers the main aspects of investing in commercial real estate in Austria, Belgium, England and Wales, France, Germany, Italy, the Netherlands and Spain. It summarises types of ownership and property rights, the acquisition process, legislative controls on the use and development of land and taxes and other costs involved in acquiring real estate. It is neither an exhaustive summary nor a detailed analysis of property-related legislation and therefore cannot replace detailed advice from qualified legal counsel on specific cases or transactions. (March 2010)

A loan from a sponsoring employer to a defined-benefit pension scheme can sometimes be an attractive way to provide short-term funding for the scheme. This briefing discusses the UK pension and tax law implications of funding the scheme in this way. (March 2010)

This briefing provides an overview of the issues raised by the limitation on employerrelated investment imposed by section 40 of the Pensions Act 1995. These provisions can be technically difficult, but potentially severe civil and criminal penalties apply for trustees and managers who breach them. There may also be secondary criminal liability for employers who persuade trustees to invest in employer-related investments. (February 2010)

Bribery and corruption have risen rapidly up the UK political agenda in recent years. The Bribery Bill finally looks set to enter the statute book later this year. It repeals existing bribery offences and introduces new ones – including, for the first time, a corporate offence of failing to prevent bribery. In this briefing we consider some of the key issues that arise from the Bill as well as some practical steps that corporates may wish to consider taking now to prepare for when the Bill becomes law. (February 2010)

In the Cemex case, the High Court interpreted the meaning of ‘employment-cessation event’ in the Employer Debt Regulations 2005. The impact of this case is that an employer may still be liable to pay a debt under section 75 of the Pensions Act 1995 in the future even if they (purportedly) triggered the debt before 6 April 2008 and discharged it. This briefing explains. (February 2010)

In Independent Trustee Services v Hope the UK High Court rejected a cunning plan to partially buy out benefits before the Ilford defined-benefit pension scheme entered the Pension Protection Fund’s (PPF’s) compensatory regime. Although the facts of this case are unusual, the effect of the High Court’s decision is that trustees may not be allowed to consider the existence of the PPF when making some decisions. This briefing explains. (February 2010)

The UK High Court’s decision in HR Trustees v Peter German has made it more difficult to change past defined benefits under the scheme’s amendment power or by direct agreement with employees. This briefing outlines the decision and its implications for other pension schemes. (February 2010)

In this briefing we consider, in light of the Financial Services Authority’s enforcement activity in 2009, what the main themes are likely to be for regulatory enforcement in the coming year. (February 2010)

This is an update to our briefing of December 2009, which considered the provisions in the Financial Services Bill relating to collective redress and regulator-led redress. These provisions have now been debated in parliament by the House of Commons Financial Services Bill Committee. This update sets out the key issues raised before the Committee and the government’s response. (February 2010)

The judge's approach to pricing in the GE guarantee fee case in Canada could have implications for discussions about similar issues in the UK. This article was first published in the February 2010 edition of International Tax Review. (February 2010)

The prudential regulation of insurance and reinsurance companies across the European Economic Area (EEA) is due for radical modernisation from October 2012, including a review of the insurance industry’s solvency framework. This follows the adoption in November 2009 of the Solvency II Directive and its publication in the Official Journal. One of the primary aims of the Directive is to produce a more consistent solvency standard that will protect consumers across all markets. This third edition of our client guide outlines progress on the project to date and how it may evolve over the next few years. (February 2010)

This briefing looks at the consequences of employers not paying contributions to pension schemes or paying them late. In particular it looks at the notification obligations that may arise and the sanctions that could be imposed on employers. (January 2010)

HM Treasury has published a consultation paper setting out tentative proposals for changes to resolution arrangements for investment banks. Responses are invited by 16 March 2010. This briefing outlines the main proposals. (January 2010)

Changes in domestic and international transfer pricing law have placed a greater emphasis on economic analysis and legal expertise, explains this article first published in Legal Strategy Review.

Freshfields has submitted the following response to the Organisation for Economic Co-operation and Development (OECD) in relation to its proposed revision of Chapters I-III of the Transfer Pricing Guidelines for Multinational Enterprises and Tax Administrations released on 9 September 2009. (December 2009)

This article, first published in the BNA's Transfer Pricing International Journal in January 2010, provides a round-up of key UK transfer pricing developments in 2009. (January 2010)

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