5 August 2024
Increasing director accountability: The new Audit Reform and Corporate Governance Bill
Earlier this month, King Charles III opened the first session of the new parliament by outlining the Labour government’s priorities. Among these was the much-anticipated draft Audit Reform and Corporate Governance Bill. It has been six years since Sir John Kingman delivered his independent review of the Financial Reporting Council (FRC), and the call for robust audit reform has remained strong.
30 July 2024
Selling soon? Keep tax in mind
The Chancellor’s statement yesterday highlighted a black hole in public finances. The Chancellor also reaffirmed Labour’s commitment not to raise income tax, NICs or VAT (beyond the addition of VAT to private school fees paid from yesterday in relation to the school term staring in January 2025).
22 July 2024
The AI Regulatory Regimes of the EU and the UK and how best to comply
The European Union's AI Act and the UK's AI Bill in the House of Lords represent two significant legislative efforts aimed at regulating artificial intelligence (AI) within their respective jurisdictions. Both frameworks seek to ensure ethical AI development and usage while fostering innovation, yet they diverge significantly in their regulatory approaches and implications.
16 May 2024
AI and national security – tread with caution
Glafkos advises a broad range of corporate and private clients on M&A, joint ventures, private equity and growth capital transactions and general company law matters.
27 March 2024
Mind your business: valuing corporate assets on divorce
With over 800,000 businesses incorporated in the UK every year, it is no surprise that business assets and in particular the disposal of business interests are often a significant issue when dividing assets between separating spouses in financial remedy proceedings. The landmark case of White v White [2000] introduced the starting point of an equal division of capital, as Lord Nicholls held: “There should be no bias in favour of the money-earner and against the home-maker and the child-carer”. However, the concept of matrimonial and non-matrimonial assets is vital in cases involving businesses, as the non-business owning spouse may have a weaker claim against the value of the business, in circumstances where the value was generated prior to the marriage or following the parties’ separation.