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Bankers’ bonus reform: cutting the red tape This briefing looks at major changes to UK bank bonus rules finalised by the PRA and FCA on 15 October 2025. Introduction On 15 October 2025, the PRA and FCA finalised their proposals for significant relaxations to rules governing remuneration for banks...
The Lens Newsletter - October 2025 A selection of our latest blogs on all things digital from our experts and thought leaders here at Saughter and May. Same Warnings. Same Threats. Bigger Consequences… Increase in highly and nationally significant cyber-attacks in 2025, NCSC announces...
Competition and Regulatory Newsletter: European Commission fines Gucci, Chloé and Loewe more than €157 million for resale price maintenance On 14 October 2025, the European Commission announced that it has levied fines totalling more than €157 million against three luxury fashion brands — Gucci, Chloé and Loewe. The penalties follow a Commission investigation which concluded that each of the...
CDC gathers momentum as key plank of future pension provision The Government has published its response to consultation on unconnected multi-employer CDC schemes (UMESs) alongside draft regulations which are due to come into force next summer. It has also issued a consultation paper on the use of CDC as...
China strengthens digital market regulation with revised Anti-Unfair Competition Law On 15 October 2025, China’s revised Anti-Unfair Competition Law (AUCL) came into force. This marks the third major amendment to the AUCL since its enactment in 1993, with previous revisions in 2017 and 2019. Notably, while a consultation draft of the...
Data Privacy Newsletter - Issue 29 In this issue: Legal updates, case law update, regulator guidance, updates from the ICO, updates from the EDPB, ICO enforcement overview, EU GDPR enforcement overview, view from Africa, The Lens blogs. As we edge toward Christmas, we reflect on a busy...
Competition and Regulatory Newsletter: European Court of Justice upholds European Commission fine for Teva and Cephalon in “pay-for-delay” case On 23 October 2025 the European Court of Justice dismissed an appeal by pharmaceutical companies Teva and Cephalon, upholding a European Commission decision that found the parties had entered into a "pay-for-delay" arrangement that postponed the market...
Employment Bulletin - November 2025 Topics covered in this bulletin: Employment Rights Bill: latest news Competition and Markets Authority guidance on competing for talent Misconduct dismissal not unfair despite potential procedural shortcomings Redeployment to alternative roles was not a...
UK Tax dispute risks Unexpected tax liabilities are a key business risk.  For governments facing challenging fiscal environments, a tougher approach to tax compliance and enforcement can be a critical revenue raiser. The UK is no exception. This briefing outlines current...
Gutmann v First MTR - Landmark victory for class action defendants The Competition Appeal Tribunal (CAT) has dismissed a long-running class action against our client, First MTR, and other train operators in only its second judgment under the decade-old competition class action regime. The judgment is good news for...