Market Intelligence

The UK government plans to fundamentally reshape how sovereign investors are taxed on UK real estate holdings, replacing the current broad tax immunity with a targeted statutory regime from January 2029. While portfolio investments like interest and dividends would remain largely exempt, direct and certain indirect holdings of UK property would face corporation tax for the first time, alongside new REIT rules and transitional reliefs designed to ease the transition.

Illinois employers face significant changes to employment law starting January 1, 2027, including new compensation thresholds for restrictive covenants, mandatory paid jury duty for larger employers, and expanded protections for menopause accommodations. The state is also strengthening enforcement authority while imposing new restrictions on driver's license requirements and expanding employee leave rights for volunteer emergency workers.

Mexico's new Digital Economy Law mandates the adoption of digital and electronic payment methods across strategic sectors, introducing digital identity mechanisms like CURP Digital and the Digital Citizen File for financial services contracting.

The U.S. Court of Appeals for the Ninth Circuit has issued a split decision on California's corporate climate disclosure laws, allowing some emissions reporting requirements to continue while blocking others on First Amendment grounds. The ruling creates a complex compliance landscape where companies must navigate which disclosure obligations remain in effect and which have been preliminarily enjoined. This decision has significant implications for how states can mandate corporate climate-related disclosure

Florida's 2026 Building Code takes effect December 31, 2026, creating critical deadlines for developers and contractors to vest projects under current regulations. The new edition introduces significant changes including enhanced flood documentation requirements, corrosion-resistance standards for coastal construction, mandatory construction site safety plans, and vibration monitoring protocols that will impact project timelines and costs across the state.

Bermuda's Employment Amendment (No. 2) Act 2026 introduces significant restrictions on when employers can discipline or dismiss employees, prohibiting such actions during authorized leave or off-duty periods except in urgent documented circumstances. The legislation expands the definition of disciplinary action, establishes a public register for unpaid tribunal awards, and strengthens enforcement powers, requiring immediate updates to workplace procedures.