Dechert LLP

October 06, 2026 Webinar | 12:00 p.m. – 1:00 p.m. EDT | 9:00 a.m. – 10:00 a.m. PDT Register Here In this webinar, Dechert partners Rebecca Lee, Stephen Pratt, John Stanley and Adam Teufel will offer a practical, end-to-end look at today's M&A market, covering what's driving transactions, how deals are being structured, what tax issues can arise, and what it really takes to execute across operations, compliance and post-close integration matters.

I.

In August 2026, Dechert responded to the Department of Enterprise, Tourism and Employment’s (the “Department”) Public Consultation on the Reform of the Limited Partnership Framework (the “Consultation”) – which Consultation focused on a set of proposed amendments to the Limited Partnerships Act 1907 (the “1907 Act”).

In a matter of months, the United States Court of Appeals for the Ninth Circuit has issued two major decisions on federal healthcare fraud enforcement. The first, United States v. Schena,1 which we covered in our initial installment, marked the first time a federal appellate court interpreted the Eliminating Kickbacks in Recovery Act (“EKRA”)2 and provided important guidance on referral and compensation arrangements involving laboratories, marketers and clinical testing facilities.

Until now, the FCA’s approach to non-financial misconduct operated principally through the existing conduct rules and the fitness and propriety regime. While the regulator made clear – most prominently through its October 2024 survey of over 1,000 firms – that bullying, sexual harassment and discrimination fell within its regulatory remit, the absence of an express conduct rule left the framework dependent on interpretation and inference. That has now changed.

Dechert advised SEMCAP on its minority investment in Healf, a UK-based personalized wellbeing platform helping consumers make more informed decisions about their health and long-term wellbeing. The Financial Times recently named Healf as Europe’s fastest-growing business in its 2026 FT1000 rankings.

Dechert advised Toorak and KKR on an agreement for Velocity Financial to acquire Toorak’s operating platform. Toorak has also entered into separate agreements with a third-party investment firm for the purchase of Toorak’s existing portfolio of business-purpose loans (BPL) totaling approximately US$3 billion in unpaid principal balance across whole loans and loans held in Toorak Mortgage Trust and TRK Trust securitizations.

The Hart-Scott-Rodino Antitrust Improvements Act The HSR Act establishes the only federal pre-transaction notification mechanism currently applicable to transactions above certain thresholds,4 including healthcare-related transactions.

Hedge fund structuring is often perceived as simple replication, but this is a misjudgement. While there is a degree of consistency across many products, a prudent manager must carefully consider a range of factors when establishing a hedge fund, including but not limited to the initial and target investor base, their jurisdiction and tax preferences, and the composition of the intended portfolio of assets.

Dechert partner Randy Mastro has been recognized in The AmLaw Litigation Daily's Litigator of the Week: Runners-Up and Shout-Outs column for helping secure a decisive victory for Madison Square Garden (MSG) in its litigation with former New York Knicks player Charles Oakley. Mr. Mastro led the team that secured a pair of significant victories for MSG in this long-running litigation. On August 14, Judge Richard J.