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Article
When is a term sheet legally binding? Commercial Court guidance on term sheets and misrepresentation
A Commercial Court ruling clarifies when equity term sheets create binding obligations and how warranties in corporate transactions may constitute actionable misrepresentations. The decision in Hoffman v Finalto Group Limited examines the enforceability of management equity arrangements and the legal treatment of disclosure statements in M&A contexts.
United Kingdom Commercial
GW
Gowling WLG
Article
Final Rules For New UK Crypto Regime
The UK Financial Conduct Authority has published final policy positions and rules for the new cryptoasset regime, set to take full effect from October 2027. Firms must begin preparing now, with applications for authorisation opening in September 2026 and incentives for early submission. What changes has the FCA made in response to industry feedback, and what steps should firms take to ensure compliance with the comprehensive new regulatory framework?
United Kingdom Finance
AO
A&O Shearman
Article
The Importance Of Early Advice: GQA Qualifications Ltd V Clayton
A High Court case examines whether a CEO breached his fiduciary duties when attempting to prevent fellow directors from distributing company profits through retrospective bonuses and asset transfers. The court's analysis distinguishes between acting within constitutional powers and acting in good faith to promote company success, with particular focus on the role of professional legal advice in demonstrating honest intent.
United Kingdom Commercial
Sa
Shepherd and Wedderburn LLP
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