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PFAS in Children’s Products is a major focus for state regulators across the country, prompting some of the most stringent PFAS restrictions in consumer products.  Thus far, eleven (11) states have enacted regulations concerning PFAS substances in Children’s or Juvenile Products (“Children’s Products”).  Six (6) additional states have proposed Children’s Products regulations, and many of these are expected to continue to move through the legislative process in future months.  There are a number of key features that are generally consistent across the state laws: “Juvenile products” are generally defined as products that are intended for use by children 12 years old or younger. The prohibitions apply to “intentionally added” PFAS, which generally are PFAS added to a product to create a specific effect in the finished product. The compliance timelines are much shorter than the timelines for other types of consumer products that are being regulated for the presence of intentionally added PFAS. Some, but not all, of the laws exempt internal components of the product that are not accessible during foreseeable “use and abuse” of the product. Perhaps the biggest challenge posed by these laws is that unlike other PFAS laws which apply to a specific industry category (e.g. cookware, cosmetics, apparel), they apply across all consumer product categories, making them more difficult for impacted businesses to track. Notably, California recently enacted AB 347, which, among other things, changed the definition of “juvenile products” to eliminate the “including but not limited to” language and thereby limited the scope of products that are subject to restrictions.  Accordingly, BCLP identifies the specific definitions of “children’s products” or “juvenile products” in this document to best assist you.

Elizabeth Bradley, Global Practice Group Leader for our Tax, Employee Benefits and Private Client practice authored an article in Tax Journal on 1 November 2024 which analysed the impact of the Autumn 2024 budget on the real estate sector.

Welcome to the Corporate Briefing, where we review the latest developments in UK corporate law that you need to know about. In this month’s issue we discuss: IA Principles of Remuneration 2025 The Investment Association has published its Principles of Remuneration for 2025 following a review to ensure they support a competitive remuneration environment and meet investor expectations. Companies House ECCTA implementation plan Companies House has published its implementation plan for the Economic Crime and Corporate Transparency Act 2023. Invest 2035: The UK’s Modern Industrial Strategy The government has published a green paper focused on creating a pro-business environment that supports businesses to thrive and grow and making it simpler and cheaper for companies to scale up and invest. Independent expert panel report on corporate re-domiciliation An independent expert panel on corporate re-domiciliation, convened by the government in December 2023, has published a report outlining its recommendations. Code of Conduct for Directors The Institute of Directors has launched a voluntary Code of Conduct for Directors aimed at helping directors make the right decisions by providing clear guidance on what constitutes good conduct. Material Adverse Effect conditions - lessons to learn from a recent case This case teaches us some valuable lessons about how the courts approach MAE conditions in M&A agreements. An interim dividend paid to one shareholder may become a debt due to all This case highlights that if an interim dividend is paid to one shareholder, it may become a debt due to all shareholders (of the same class), unless they agree otherwise. Article in ‘PLC Magazine’ on public M&A in the real estate sector: issues and trends Partners Richard Werner and Tom Bacon share their insights on the key issues that are relevant to public M&A in the real estate sector. Article in ‘Law 360’ on tokenised investment funds in the UK Partner Tom Bacon and associate Andrew Tsang authored an article for Law360 on the road ahead for tokenised investment funds in the UK. Article in ‘Law360’ on the FRC’s report on good corporate governance Lead Knowledge Counsel Tessa Hastie, assisted by Dana AlBalooshi, authored an article published in Law360 providing insights from the FRC’s recent report on reporting against the Wates Principles.

Yesterday, 30 October 2024, the Chancellor announced that the Autumn 2024 budget will raise taxes by £40bn, the biggest raise since 1993.  While the Autumn budget arguably does not portray as pessimistic an outlook for individuals as was speculated, the rise in employers’ national insurance contributions will, undoubtedly, not have been welcomed by business. In this blog, we summarise 10 key tax announcements made at the budget that are relevant for business.  It is not exhaustive, but provides a quick snapshot on a momentous budget.