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Audit market: From recommendations to reforms
The Brydon Report on audit quality and effectiveness was released on 18 December 2019. The Report sets out recommendations for “urgent reform” in order to increase public confidence and seek to prevent unnecessary corporate failures.
Read moreSMCR: The tricky implementation phase
The Senior Managers and Certification Regime (SMCR) came into force for all financial services firms solo-regulated by the Financial Conduct Authority (FCA) on 9 December 2019. The SMCR replaces the previous APER regime under which the FCA had oversight of the individuals working in the financial services industry. There is a one year implementation period for firms to make the changes required by the SMCR, which expires on 9 December 2020.
Read moreCOVID-19: The Dairy Sector and Welsh health services granted temporary UK competition law exemptions and the European Commission issues first 'Comfort Letter' to Pharmaceutical Manufacturers
The UK Government has granted a temporary competition law exemption for certain collaboration within the dairy sector and Welsh health services and the European Commission has published its first 'comfort letter' to allow co-operation to ensure supplies of medicines for COVID-19 patients.
Read moreRegulated Activities Order amendments for the new Bounce Back Loan Scheme
On 1 May 2020, the Financial Services and Markets Act 2000 (Regulated Activities) (Coronavirus) (Amendment) Order 2020 was published and came into force on 4 May 2020.
Read moreCOVID-19: What is the CMA's current approach to UK merger assessment?
The CMA has been adapting its working practices to react to the ongoing challenges of a change in working environment that has an impact on almost all businesses.
Read moreCOVID-19: Coronavirus and Competition Law - The Current Enforcement Scene
Read moreCOVID-19: CMA provides guidance to business on its approach to co-operation in response to the pandemic
Businesses, which do not benefit from the specific competition law exemptions granted by the Secretary of State (in the groceries, Solent Ferries and healthcare services sectors), may co-operate without fear of enforcement action by the Competition and Markets Authority (the "CMA"), provided that this co-operation is undertaken "solely to address concerns arising from the current crisis and does not go further or last longer than what is necessary".
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