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Briefing Notes
M&A
CMA finds Macquarie's acquisition of Energy Assets Group may substantially lessen competition, threatens Phase 2 unless undertakings offered by 2 October
A broad utility portfolio can itself become a competition liability when regulators depend on benchmarking between operators.
Capital Markets
Monzo in Early-Stage £10bn Sale Talks with Nubank, Threatening London IPO
A Nubank deal would trade London's IPO ambitions for immediate cross-border regulatory complexity.
Regulation
CMA backs proposed reforms to competition enforcement pace, redress powers, and regulatory appeals in response to BIST consultation
Stronger leniency protection and CMA redress powers would shift competition enforcement from courtroom battles toward faster, regulator-directed consumer payouts.
Banking & Finance
PM Burnham announces 'Your First Home' equity loan scheme for first-time buyers with a 2.5% deposit, details expected at October Budget
Government equity loan schemes boost new-build demand but risk inflating prices rather than expanding genuine affordability, as Help to Buy demonstrated.
Energy & Tech
BP walks away from potential acquisition of Devon Energy's Eagle Ford shale asset in South Texas, valued at up to $4.5bn
BP's swift walk-away from Devon's Eagle Ford, after entering the data room, shows capital discipline still outweighs the pull of re-entering the US shale acquisition market after years of retreat.
Regulation
US Supreme Court Petition Challenges Joint-and-Several Disgorgement After SEC Pump-and-Dump Enforcement
Liu limited disgorgement to actual profits, joint-and-several liability stretches that into a penalty.
Disputes
Victoria's Secret and Thomas Pink Secure Fast-Tracked High Court Trial Over Whether Victoria's Secret Breached 'PINK' Coexistence Deal by Suing in the US
Courts will accelerate IP trials when a prior settlement is itself in dispute.