Latest data points to broader national security judgments and greater willingness to test the regime's boundaries, just as a new Prime Minister is about to take office. A maturing regime entering a new phase The Cabinet Office’s Investment Security Unit (ISU) published its Annual Report covering National Security and Investment Act (NSIA) operation from 1 […]
What changed on 30 April 2026? The draft merger guidelines consolidate the 2004 horizontal and 2008 non-horizontal guidelines into a single text and reframe EU merger control as a tool that should contribute to the EU’s wider competitiveness agenda. They are not new legislation – they explain how the Commission interprets and applies the existing […]
Key takeaways for investors Ten key considerations for investors into the UK and Europe in 2026 This blog was written by Martin Summers Director in the Private Markets team, Joe Jones, Partner and Dylan Saralis, Associate Director. We offer buy and sell side services: regulatory, policy and political DD, advice on trade, on competition policy […]
2025 - uncertain, fast-moving and unpredictable 2024 provided a comparatively stable regulatory environment for dealmakers. With more than half the world’s population going to the polls, policy reform was on hold, while legislators focused on winning domestic elections in an uncertain international outlook. 2025 is shaping up differently. Global politics is changing. Adversarial relationships are […]
The UK Competition and Markets Authority’s (CMA) approval of the Vodafone/Three merger has been widely interpreted as a significant change in its approach to merger control, signalling a greater openness to behavioural remedies. Our view is that this is a less dramatic shift. We set out why the specific circumstances of the merger and the […]
Overview The UK’s new post-Brexit subsidy control regime sits against a backdrop of governments across developed economies pursuing more active industrial policy. The UK’s trade partners, most notably the EU, are watching its subsidy regime and decisions closely. There is significant domestic scrutiny too. Those responsible for scrutinising public spending, such as the National Audit […]
UK National security clearance – appetite for intervention likely to grow, particularly on China, tech, and private equity transactions In just over a year since the introduction of the National Security and Investment Act (NSIA), the Government has blocked five transactions. Proportionally, this is a much higher hit rate than comparable regimes. With Westminster broadly […]
