On 3 June 2026, the Chartered Governance Institute (CGI) published a new Guidance Note which provides an industry view on, and examples of, what should constitute a proper or improper purpose in relation to a request to inspect a company’s register of members under section 116 Companies Act 2006 (CA 2006).

The settlement of securities transactions—the process by which ownership of a financial instrument is transferred from seller to buyer and payment moves in the opposite direction—is undergoing one of its most significant transformations in decades.

India: Welcome to the May 2026 edition of the GIFT IFSC Newsletter, highlighting key legal, regulatory, and market developments across India’s International Financial Services Centre ecosystem. This edition captures significant initiatives aimed at strengthening GIFT IFSC’s position as a global financial and business hub, including reforms across banking, capital markets, fund management, insurance, leasing, fintech, and cross-border financial services.

India: In May 2026, key developments included CDSCO clarifying the regulatory status of cosmetic products used as injectables, implementation measures aimed at streamlining clinical trial and regulatory processes, ICMR’s introduction of operational guidelines for single ethics review of multicentre research, NABH’s release of new accreditation standards for Ayush hospitals, and regulatory initiatives affecting digital health, advertising and food businesses. Judicial developments during the month also provided important guidance on medical negligence proceedings and protection of pharmaceutical trademarks. This newsletter highlights key regulatory and policy developments relevant to pharmaceutical, biotechnology, medical device and healthcare sector stakeholders operating in India.

India: As we enter the third year of the current government’s five-year term, the shift in focus from announcing reforms to implementing the institutional frameworks needed for long-term economic growth is discernible. In May, this was the predominant trend across financial regulation, digital governance, AI, advanced manufacturing and cross-border investments. At home, the emphasis was on execution, while India's global engagement continued to prioritize trusted partnerships and resilient supply chains.

United Kingdom: HM Treasury published a policy statement on reform of the Consumer Credit Act 1974 (CCA) on 18 May 2026, with the FCA publishing a response on the same day.

New Zealand: Since the Christchurch earthquakes of 2011, issues related to earthquakes and seismic performance of buildings have been a common feature of commercial leasing transactions in New Zealand. Proposed changes to our earthquake-prone building regime may pose a significant further development for commercial leasing in New Zealand with the Building (Earthquake-prone Buildings) Amendment Bill (Amendment Bill) currently before Parliament. If enacted, the Amendment Bill will amend the Building Act 2004. At the time of writing, the Amendment Bill is before the Select Committee, with the committee scheduled to report back to Parliament on 16 June 2026.

GCC: Private credit continues to establish itself as an increasingly important part of the GCC financing landscape. While banks remain the dominant force across the region's lending markets, private credit has developed as a complementary source of liquidity and financing flexibility, particularly in transactions requiring bespoke structuring, long-term capital or accelerated execution timelines.

On June 2, 2026, the Office of the United States Trade Representative (USTR) recommended that tariffs of either 10 or 12.5 percent be imposed under Section 301 of the Trade Act of 1974 on, with limited exceptions, imports of all products that originate in 59 countries and the EU that the USTR has concluded have inadequate prohibitions on the use of forced labor.

Norton Rose Fulbright’s patent practices in Canada, Hong Kong and the United States earned recognition in the 2026 IAM Patent 1000, reflecting the firm’s work in patent litigation, prosecution and transactions across key global markets.

Norton Rose Fulbright Global Head of Antitrust and Competition and New York Co-Head of Litigation and Disputes Robin Adelstein, Global and US Chair and Head of Employment and Labor Shauna Clark and US Vice Chair Gina Shishima have been recognized on Forbes’ 2026 America’s Top Women Lawyers list.

Global law firm Norton Rose Fulbright has advised Resource Capital Funds on the acquisition of Cobre Las Cruces, owner of the Las Cruces copper mine in Spain, from First Quantum Minerals.

Join us and other young professionals for an informal networking breakfast. This event is an opportunity for disputes solicitors and barristers (up to and including senior associate level) to drop in, catch up and network with peers over coffee and breakfast. 

With September 1, 2026 fast-approaching, following on from our webinar in March, our next webinar in the non-financial misconduct series will work through some practical scenarios that firms may face and how the new Code of Conduct (COCON) rule; the new COCON guidance and the new guidance on the fit and proper test could apply in practice.

Norton Rose Fulbright has earned leading law firm distinction in 52 national and statewide practice areas in the 2026 Chambers USA guide, including 23 Band 1 rankings.

The US government has formally appealed the portion of the Court of International Trade’s decision which required US Customs and Border Protection to issue refunds of all tariffs imposed under the International Emergency Economic Powers Act to non-participants in the CIT litigation for entries that have liquidated and become final.

Global law firm Norton Rose Fulbright has advised Atlas Air Worldwide on its agreement to acquire a 49 percent minority stake in Air Atlanta, establishing a strategic partnership to expand its global aviation platform and enhance access to widebody capacity.

Argentina: Following a public consultation process initiated through IGJ General Resolution No. 2/2026—aimed at identifying the main operational challenges of the existing regime—on May 22, 2026, the Argentine Public Registry of Commerce (Inspección General de Justicia, “IGJ”) issued General Resolution No. 4/2026, which entered into force on May 27, 2026.

Panama: The recent enactment of Law 526 of 2026 introduces changes that are relevant for Panamanian entities that are part of multinational groups, as well as for corporate structures with an international presence. Our Partner in the Panama office has prepared an analysis on the scope of this reform and the key considerations that companies should keep in mind as they move toward its implementation.

New Zealand: The Government’s Budget tax package delivered on 28 May 2026 includes two measures that are particularly relevant for the private wealth sector, including high net worth individuals, founders, investors, and charities. A new NZ$100,000 cap on charitable donations eligible for the donation tax credit and an extension of the Revenue Account Method (RAM) under the Foreign Investment Fund (FIF) rules to all New Zealand taxpayers. While both measures represent significant policy choices, they move in very different directions.