The Lawyer Asia Pacific 150 is the only research report to provide a ranking of the top 100 independent local firms and top 50 global firms in the region. The report offers critical review of some of the fastest growing firms and their strategies, a country-by-country guide to leading legal advisers and legal services market trends, plus exclusive insight into the current business development opportunities in the Asia Pacific. Read more
This year, The Lawyer’s annual ranking of the largest UK law firms by turnover is available as an interactive, digital benchmarking tool. For the first time this will allow you to manipulate each data set against the metrics of your choice.
THE LAW SOCIETY'S company law committee has attacked the Government for the "piecemeal" way it has handled the consultation exercise on the rules for the new super-watchdog, the Financial Services Authority (FSA).
The committee criticises the different approaches to consultation between the Treasury and the FSA, which "make it difficult to comment on consultation papers on a properly informed basis".
The report also complains of only having "tantalising glimpses" of what the Government intends the legislation to provide in relation to rule-making power.
According to committee chair Tim Herrington, a corporate partner at Clifford Chance, the public are being asked to comment on the design of the FSA's new handbook of guidance and rules without seeing the draft legislation setting out the FSA's statutory powers (expected in the summer).
Herrington told The Lawyer that the Government has probably told the FSA what the draft legislation will be on issues such as the civil sanctions and enforcement mechanisms available to the FSA. "But as members of the public we don't know," he said.
Herrington said that the committee also felt "very strongly" that proposals in the paper to remove the distinction between "principles" and "rules" would be "really unjust" and put investment companies at risk of litigation from third parties, not just disciplinary action by the regulator.
"Legal uncertainties will inevitably be created," he said.