Overview

2011 will herald some significant legislative changes, notably in relation to fraud and bribery, employment law, litigation and planning law. Following the general election in May 2010, changes have been taking shape. There has also been the radical reshaping of the financial services regulatory landscape in Europe and the UK.

Herbert Smith identifies the trends and issues expected to figure large on the legal agenda this year. This includes the following:

• The Takeover Panel’s announcement of significant proposed changes to the Takeover Code in October 2010 following a wide-ranging consultation exercise. The proposals include the abolition of deal protection measures and increased protection for target companies against protracted virtual bids.

• The UK Coalition Government has announced its intention that mediation and other forms of ADR should play a much greater role in the civil justice system. The Government intends first to consult on the role of ADR with a view to developing proposals to promote its wider use in the civil courts.

• The English laws on bribery and corruption have been overhauled by the Bribery Act 2010. This will come into force in April 2011 and provides a comprehensive legislative approach to combating corruption, including overseas corruption.

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