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COVER STORY

Driving value creation in the PE space

In a competitive, uncertain business landscape, PE firms will need to use all the tools at their disposal to generate maximum value for investors. Technology, data and ESG performance will be a key part of this process in the coming years.

FEATURES

Cross-border payments: fraud mitigation strategies

To combat the risk of fraudulent activity when making cross-border payments, businesses need to understand the inherent nature of fraud and the different tactics utilised by fraudsters.

Ahead of the cyber curve: the evolving role of the CISO

When given greater influence, budget and mandate, CISOs not only safeguard their company’s digital assets but also reinforce its commitment to regulatory compliance, fostering trust among stakeholders and ensuring long-term success in a changing business landscape.

No more ransom: CRI makes non-ransomware payment statement

The CRI focuses on partnerships and information sharing to bolster collective security against ransomware threats.

Enter the ECCTA: tackling economic crime in the UK

With the ECCTA, the UK government has set out its commitment to tackle the economic crimes that fund organised crime groups, terrorists and other malicious actors.

Going green together

Going forward, any companies participating in, or seeking to enter into, green agreements with competing businesses should review the guidance carefully and seek specialist competition legal advice to avoid falling foul of the law.

ROUNDTABLE

Sanctions compliance and enforcement

Even the most experienced sanctions compliance and enforcement practitioners concede that recent developments in this space have been unique. As regulations expand and evolve, impacted companies will need to have strong controls in place to ensure compliance. FW moderates a discussion between Maura Rezendes at Allen & Overy, Snorre Welling at Carlsberg Group, Adam M. Smith at Gibson, Dunn & Crutcher LLP, Neil Roberts at Lloyd’s Market Association, and Adela Deaconu at Royal Philips.

SPECIAL REPORT

Data privacy & cyber security

Q&A: Digital Services Act: compliance and enforcement

The landmark DSA can be seen as a step toward harmonising efforts to tackle illegal activity and misinformation online by providing assurance and rights to users as the internet evolves. FW discusses compliance and enforcement under the Digital Services Act with Ana Jankov and Daniel Nunn at FTI Consulting, and Benjamin Docquir at Osborne Clarke.

Automated decisions under the GDPR and the AI Act: who can control their fate?

Hogan Lovells Banks, lenders and service providers in the financial ecosystem, when making decisions or helping others to make decisions which impact individual customers and employees, will need to consider their exposure under the GDPR and the AI Act.

Compliance with UK data protection law while embracing emerging technologies

CMS Cameron McKenna Nabarro Olswang LLP The rapidly evolving digital space and the dynamic nature of AI technologies presents intricate hurdles in achieving compliance.

US states implement data practice assessment obligations

Squire Patton Boggs The assessment and audit requirements of the new generation of state data protection laws will force US companies to move beyond mere window dressing to develop fulsome data protection programmes.

A comparative analysis of employee data protection: US vs. EU

Bryn Law Group A comparative analysis of the regulatory approach taken in the US and the European Union offers an insight into what an effective employee data protection regime should include to pass muster in each jurisdiction.

The SEC’s cyber security incident 8-K reporting rule – an incident response game-changer

Cooley LLP The SEC reporting cyber incident rule, combined with the vastly increased threat and regulatory and litigation environment, has created a perfect storm of corporate risk, and has changed the breach notification game.

Data privacy and GDPR litigation trends in Germany and beyond

Quinn Emanuel Urquhart & Sullivan, LLP As always when fast paced technological developments meet new regulatory frameworks, this has resulted in a remarkable increase in litigation.

Q&A: Data privacy and cyber security: management liability

Accountability is one of the central tenets to many data protection and security laws. More and more, we are seeing leaders being asked to answer for privacy and security lapses. FW discusses data privacy and cyber security management liability issues with Thomas H. Bentz, Jr at Holland & Knight LLP and Mercedes Samavi at Morrison Foerster.

TALKINGpoint

Cross-border dealmaking between the US and UK

The strong US dollar and more conservative valuations in UK public markets means that the UK is likely to remain an attractive marketplace for US buyers and investors. FW discusses cross-border dealmaking between the US and UK with Richard Lane and Simon Ward at Farrer & Co.

Impact of Pillar Two on M&A transactions

Pillar Two will have a major impact on M&A transactions involving larger multinationals, although in the early years – until the end of 2026 – transitional rules may reduce its impact. FW discusses the impact of Pillar Two on M&A transactions with Amrish Shah, Chad Hungerford and Julie Garside at Deloitte.

Outlook for life settlement funds in 2024

There is always a question as to the quality and completeness of the data and whether a buyer sees all past life expectancies  or just the ones that a seller wants them to see. FW discusses the outlook for life settlement funds in 2024 with Corwin Zass and Brian Forman at Actuarial Risk Management.

Insurance claims and recovery

The formula that drives the most successful claims and recovery processes is based on a high-level of communication and cooperation among the insured, the insurer and their advisers. FW discusses insurance claims and recovery with Marc B. Sherman and John P. Galdi at Alvarez & Marsal.

DEALfront

mergers & acquisitions

Hewlett Packard Enterprise to acquire Juniper Networks in $13bn deal

In a move intended to boost the company’s artificial intelligence offering, Hewlett Packard Enterprise has agreed to acquire networking gear manufacturer Juniper Networks in an all-cash $14bn deal.

Boston Scientific in $3.7bn deal for Axonics

In a deal that expands its urology portfolio with differentiated technologies to treat urinary and bowel dysfunction, medical device solutions provider Boston Scientific Corporation is to acquire publicly traded medical technology company Axonics, Inc. for $3.7bn.

private equity & venture capital

Alteryx taken private in $4.4bn deal

In deal that takes the company private, cloud platform firm Alteryx, Inc. is to be acquired by global private equity giants Clearlake Capital Group and Insight Partners for $4.4bn, including debt.

Brookfield to acquire ATC India in $2.5bn deal

Brookfield Asset Management has agreed to acquire American Tower Corp’s Indian operations – ATC India – in a deal worth $2.5bn. Upon completion of the acquisition Brookfield will overtake Indus Towers and become the largest operator of telecom towers in India.

bankruptcy & corporate restructuring

US commercial Chapter 11 filings increase 72 percent in 2023

Commercial Chapter 11 filings increased 72 percent to 6569 in 2023, up from the previous year’s total of 3819, according to data from Epiq AACER.

Radio broadcaster Audacy files for Chapter 11

Amid a plunging advertising market, one of the largest operators of commercial radio stations in the US, Audacy, Inc., along with 47 of its subsidiaries, has filed for Chapter 11 bankruptcy protection.

SPOTlight

A roadmap for future US enforcement of vertical mergers?

Skadden, Arps, Slate, Meagher & Flom LLP Regardless of how one interprets the Fifth Circuit’s opinion, it appears clear that the FTC feels empowered by the opinion to continue its vertical merger enforcement efforts.

Distressed real estate – the ways out

Norton Rose Fulbright Insolvencies can be avoided if sponsors act early enough and actively manage the restructuring, but only when there is still time to react, not a few months before debt maturity.

Business continuity planning for times of crisis

FTI Consulting An increasing number of companies are attaching importance to business continuity, and they expect the same from their service providers and partners.

Investigation and prosecution of corporate crime in New York

Steptoe LLP Companies doing business in New York are well-advised to be familiar with two significant changes relating to government investigation and prosecution of corporate crime in that state.

Arbitration and commercial law changes afoot in the Middle East

Quinn Emanuel Urquhart & Sullivan Rapid changes are taking place to promote certainty and cement jurisdictions across the Middle East as permanent corporate hubs benefitting from updated commercial law that is being renewed and codified with clarity.

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CONTRIBUTORS

Actuarial Risk Management

Allen & Overy

Alvarez & Marsal

Bryn Law Group

Carlsberg Group

CMS Cameron McKenna Nabarro Olswang LLP

Cooley LLP

Deloitte

Farrer & Co.

FTI Consulting

Gibson, Dunn & Crutcher LLP

Hogan Lovells

Holland & Knight LLP

Lloyd’s Market Association

Morrison Foerster

Norton Rose Fulbright

Osborne Clarke

Quinn Emanuel Urquhart & Sullivan, LLP

Royal Philips

Skadden, Arps, Slate, Meagher & Flom LLP

Squire Patton Boggs

Steptoe LLP