Online March 2013
The Lawyer
CFTC and SEC publish key swap product definition rules under Dodd-Frank download
On 13 August 2012, the US Securities and Exchange Commission and US Commodity Futures Trading Commission published in the Federal Register joint final rules and interpretive guidance further defining the terms ‘swap’, ‘security-based swap’, ‘mixed swap’, and ‘security-based swap agreement’.
2012 year-end criminal antitrust & competition law update download
The past year marked record-level global criminal competition law enforcement. The level of fines imposed continued its upward trajectory, with authorities in the US, Europe, China, and India imposing record sanctions.
2012 year-end FCPA update download
By comparison to the blistering pace set in recent years, FCPA prosecutions were down in 2012 (though still far higher than in any of the first 30 of the statute’s 35-year existence).
2012 year-end German law update download
In retrospect, 2012 likely will be remembered as another year of manifold challenges in the Eurozone and of slow consolidation rather than one of fundamental reform or renaissance.
2012 year-end securities enforcement update download
In many respects, 2012 was another year of aggressive SEC enforcement. The SEC’s Division of Enforcement again logged a near record number of enforcement actions.
2013 — what to expect on the European competition policy front download
2013 is likely to see a continued commitment to efficient and pragmatic enforcement, but also an EU Commission and an EU Commissioner increasingly willing to court controversy in key strategic markets.
2013 proxy season update — five key executive compensation considerations download
In addition to the normal disclosure required in the Compensation Discussion and Analysis portion of the annual proxy statement, companies should consider five other matters when preparing the 2013 proxy statement.
A 'century' of anaerobic digestion in the UK weblink
The number of anaerobic digestion plants in the UK outside of the water industry has passed the 100 mark.
A customer's guide to agile software development: part one — what is agile? download
In part one of this guide, Shoosmiths provides an overview of the agile development process.
ACCC takes enforcement action against manufacturers of car parts for alleged cartel conduct download
The latest Australian Competition and Consumer Commission (ACCC) cartel enforcement action involves the institution of civil proceedings in the Federal Court in Adelaide against Japanese company Yazaki Corporation.
Accountants and auditors as SEC whistleblowers download
Nearly every public company and financial industry firm subject to the enforcement jurisdiction of the US Securities and Exchange Commission employs both internal and external accountants and auditors.
ACER and ESMA publish respective consultations on REMIT and EMIR download
In the last two weeks, both the Agency for the Cooperation of Energy Regulations and the European Securities and Markets Authority have published consultations for market participants on the Regulation on wholesale energy market integrity and transparency and the European Market Infrastructure Regulation, respectively.
Actual or alleged liability — the 'Bermuda Form' under English law download
Ramifications of the recent ‘Bermuda Form’ judgment will undoubtedly cause insureds concern.
Acumum announces sponsorship of International Taxation Conference
Acumum is set to sponsor the Malta Institute of Management’s International Taxation Conference.
Adding more strings to the bow: the 2012 amendments to China’s Civil Procedure Law download
In August 2012, the People’s Republic of China enacted amendments to its Civil Procedure Law.
Addleshaw Goddard advises UPP Group on property-backed bond programme
Addleshaw Goddard has advised student accommodation provider UPP Group on its property-backed bond programme.
Ahmed Jaafir from Al Tamimi presents on Qatar exporting opportunities at seminar
Al Tamimi’s Ahmed Jaafir focuses on Qatar exporting opportunities at Dubai Exports seminar.
Aiden Hargreaves-Smith
Partner
AIFMD: challenges and opportunities download
Emmanuelle Entringer and Bishr Shiblaq of Arendt & Medernach explain the impact of the AIFMD on fund managers in the Middle East and North Africa.
Airport premises — traps for the unwary download
Taking a tenancy of airport real estate may at first appear little different to leasing any other type of commercial property. However, the operational requirements of a company wishing to take space at an airport need to be thought through carefully.
Alberto Massimo Rossi
Equity partner
Alberto Toffoletto
Equity partner
Aldo Bulgarelli
Equity partner
Alison Gorlov
Partner
Allen & Overy — Graduate Recruitment Magazine 2012–13 download
This magazine sheds some light on what may lie ahead in a law career at Allen & Overy.
Already v. Nike: the Supreme Court finds covenant not to sue made competitor’s claim for invalidity of trademark moot download
The US Supreme Court issued its opinion yesterday in the closely-watched case, Already, LLC v Nike.
Amendment to Japanese investment management tegulations in response to AIJ incident download
On 12 October 2012, in response to the recent AIJ scandal, the Financial Services Agency of Japan published a draft amendment to certain rules intended to revamp the regulation and supervision of discretionary advisory businesses.
Amendments to German export control law enacted download
On 1 March 2013, the Federal Counsel (Bundesrat), the second German parliamentary chamber, approved the amended Foreign Trade and Payments Act (Außenwirtschaftsgesetz, or AWG).
Amendments to NYSE and Nasdaq proposals on compensation committee adviser independence download
The New York Stock Exchange and the Nasdaq Stock Market have each filed recent amendments to their proposed listing rules implementing Rule 10C-1 of the Securities Exchange Act, governing the independence of compensation committee members and compensation consultants.
An ASEAN funds passport? download
This briefing examines recent developments in Southeast Asia that may bring us closer to an ASEAN-centric approach to the distribution of funds in Asia.
An overview of the new Security Interests (Jersey) Law download
The 1983 Security Interests (Jersey) Law is set to be replaced in 2013 by the Security Interests (Jersey) Law 2012.
Andrea Squires
Partner
Andrew Murray
Partner
Angelo Anglani
LawyerPractice areasRestructuring and turnaroundDispute resolution and arbitrationCorporate and commercialLanguagesItalianEnglish
Anthony Perotto
Equity partner
Anti-corruption due diligence in cross-border M&A download
Global enforcement of anti-corruption laws is at an all-time high and unlikely to recede any time soon.
Antitrust Alert: DOJ sues to block Bud Light and Corona combination download
The Department of Justice has filed a civil antitrust lawsuit challenging the $20 billion proposed acquisition by Anheuser-Bush InBev of the remaining 50 per cent interest in Grupo Modelo S.A.B. de C.V.
Antitrust Alert: UK’s OFT issues new guidelines on penalties for competition law violations download
The UK Office of Fair Trading has published new guidelines on how it will set fines for competition law violations.
Antitrust and competition
NCTM is one of the most authoritative law firms in Italy on competition matters. It brings together a mix of hard-nosed practical legal advice with academic theory and experience.
Antitrust issues continue flaring up in China's IT sector download
On 30 and 31 January 2013, the Chinese State Administration for Industry and Commerce (SAIC) posted a press release and a brief question-and-answer protocol (Q&A) on its website to inform of a recent enforcement action.
Antonio Tola
Equity partner
Appleby advises Oi Wah Pawnshop Credit Holdings on stock exchange listing
Appleby has acted as Cayman counsel for Oi Wah Pawnshop Credit Holdings in relation to its listing on the Main Board of the Hong Kong Stock Exchange with gross proceeds of approximately HKD98m (£8.5m).
Appleby advises on £14.5m AIM float by Israeli-based technology company
Appleby acts as Jersey counsel for Starcom in relation to AIM market flotation.
Appleby advises Xinchen China Power Holdings on stock exchange listing
Appleby has acted as Cayman counsel for Xinchen China Power Holdings in relation to its listing on the Main Board of the Hong Kong Stock Exchange.
Appleby looks at what to consider when buying or selling a business download
Appleby looks at the factors that should be considered when buying or selling a business.
Approval of the EU Unitary Patent Package download
On 11 December 2012, the European Parliament approved three measures collectively known as the EU Unitary Patent Package.
Arbitration award to be set aside? Tribunal’s conduct has to be serious or egregious download
The Hong Kong Court of Final Appeal has ended the challenge to the Court of Appeal’s reinstatement of an ICC arbitration award, which had been set aside at first instance for want of due process.
Arbitration in Australia: an arbitrator’s right to be wrong download
The High Court of Australia has handed down its judgment in TCL Air Conditioner (Zhongshan) Co Ltd v The Judges of the Federal Court of Australia [2013] HCA 5.
Are your information management systems helping or hindering best practice in your in-house legal team? download
How does your current management of key information compare?
Arnold J describes SPC system as 'dysfunctional' download
Arnold J says the SPC system is dysfunctional as it cannot be applied consistently by local patent offices.
Ashurst — careers in international law brochure download
This brochure introduces Ashurt’s careers in international law.
Asian Competition Report — Q3 2012 download
An overview of developments in competition law in Asia, covering China, India, Singapore and South Korea.
Asian Legal Business — A Question of Trust download
Paul Christopher, Hong Kong managing partner, talks to Asian Legal Business about increasing interests for private trusts in Asia.
ASIC finalises views on codes to obviate the FoFA opt-in requirement download
ASIC has finalised its regulatory guidance on codes to obviate the FoFA opt-in requirement.
ASX’s final revised Guidance Note 8 on continuous disclosure: what’s changed? download
The ASX has released the final version of its guidance note on continuous disclosure. The revised Guidance Note 8 has been submitted to ASIC.
Australia — building and construction codes collide download
Building and construction industry participants will be familiar with the Australian strategy of influencing workplace relations practices by way of procurement guidelines requiring compliance with particular workplace relations standards.
Back to the future: landlords to enjoy greatest freedoms since 1945 download
The last five years has seen the end of a love-in between central government and housing associations. The government likes local authorities again — or at least hates them less.
Baker & McKenzie Graduate Recruitment Brochure 2012–13 download
Baker & McKenzie offers a challenging and stimulating place to work.
Banking and finance
Our experts provide comprehensive assistance in the implementation of domestic and international financial operations of the most complex and innovative kind.
Barbara Aloisi
Equity partner
Basel Committee revises Basel III liquidity coverage ratio download
The Basel Committee has made significant revisions to the Basel III Liquidity Coverage Ratio.
Basel III update: Federal Reserve proposes new bank capital framework download
Yesterday, the Board of Governors of the Federal Reserve System approved three proposed rules that would revise the general risk-based capital rules to make them consistent with heightened international capital standards.
Basel oversight committee endorses revised liquidity standards download
On 6 January, the Group of Central Bank Governors and Heads of Supervision, the oversight body for the Basel Committee on Bank Supervision, endorsed a revised formulation of the new minimum liquidity standard.
Bashforth takes up role as head of directorship services for Appleby Trust (Cayman)
George Bashforth has been appointed as head of directorship services for Appleby Trust (Cayman) Ltd.
Basma Al Sulaiman v Credit Suisse Securities (Europe) and Plurimi Capital download
Addleshaw Goddard has successfully defended Plurimi Capital from a $30m (£20m) mis-selling claim.
Bermuda — the next chapter of business download
The next chapter of business in Bermuda looks bright and ready to meet the emerging challenges of the evolving global economy.
Bermuda: government’s new rules for property licences explained download
The government’s recent Budget included plans to reduce Property Licence fees.
Bermuda's (re)insurance market in 2012 download
Appleby’s Tim Faries looks back at an eventful year for Bermuda’s (re)insurance market.
Bernard O'Connor
Equity partner
Berwin Leighton Paisner Graduate Recruitment Brochure 2012 download
Award-winning international law firm Berwin Leighton Paisner thrives on talent.
Bishr Shiblaq
Head of Dubai representative office
Bob Calmes
Head of the New York representative office
Brands Update — spring 2013 weblink
Taylor Wessing has released the spring 2013 issue of its Brands Update publication.
Brazil proposes new regulation to boost cartel enforcement download
On 14 December 2012, the Administrative Council for Economic Defense, Brazil’s competition authority, proposed a regulation that improves the settlement procedure for companies involved in cartel activity that fail to qualify for amnesty.
Breach of trust — all or nothing? weblink
The Court of Appeal recently handed down judgment in AIB v Mark Redler & Co.
Break-up fees — picking your number download
During the course of negotiations of every public company deal, inevitably the conversation will turn to the amount of the break-up fee payable by a target company to a buyer if the deal is terminated under certain circumstances.
Bright outlook for covered bonds download
This year has proven to be an interesting one for the covered bond market, and we anticipate that 2013 will bring many important new developments.
Budget 2012 — taxation of UK residential property download
The UK government Budget announced on 21 March 2012 made substantial changes to the structure of stamp duty land tax in the UK with immediate effect.
Budget 2013: tax summary download
This briefing from Shoosmiths provides a summary of the main tax points of interest with the draft Finance Bill to be published on 28 March.
Budget 2013: UK government looks again at housing supply download
In his March 2013 Budget statement, Chancellor George Osborne announced various measures targeted at promoting growth and addressing some of the structural issues with housing supply and accessibility.
Budget 2013: what does it mean for the real-estate sector? download
On 20 March, George Osborne delivered a budget for an ‘aspiration nation’, but there was little in there to excite the real-estate sector apart from on housing.
Budget announcements affecting the renewable energy sector weblink
The 2013 Budget announced by Chancellor George Osborne on 20 March 2013 contained little or no news for the renewable energy sector
Bullies beware — new protections added to the Fair Work Act download
The federal government has introduced amendments to the Fair Work Act 2009 (Cth).
Business immigration — Tier 2 April changes download
On 6 April, the UK Border Agency will introduce changes to the Tier 2 immigration rules that will affect UK employers.
BYOD policies: is your organisation compliant with the ICO's new guidance? download
With an increasingly mobile workforce, the practice of bringing your own device (BYOD) is already a fact of life for many businesses.
California adopts new private fund adviser exemption download
California has adopted a new exemption from the state’s investment adviser registration requirements.
Camille Bourke
Partner
Campaign against pension liberation scams download
The Pensions Regulator, with other agencies, has launched a campaign against pension ‘liberation’ scams.
Can Indian tribes own renewable power projects? IRS says yes; not a Pickle download
The IRS released a ruling this week that opens the door to Indian tribes playing a much larger role in renewable power projects.
Capital markets and securities
King & Wood Mallesons has represented issuers and underwriters in hundreds of domestic and cross-border securities issuances and listings.
Carlo Grignani
Equity partner
Carol Ellinas
Partner
Case digest: (un)lawful terminations, religion discrimination and holiday rights of healthy workers download
A number of judgments, published in the last few weeks, are likely to affect the day-to-day working practices of many of our readers.
Case update: bifurcation and substantive jurisdiction under Indian law download
The English High Court in Arsanovia & Ors v Cruz City 1 Mauritius Holdings [2012] EWHC 3702 (Comm) has delivered a decision dealing with issues revolving around different governing laws and (substantive) jurisdiction.
Cayman Islands continue towards AIFMD readiness download
The Cayman Islands Government confirmed on 25 March its continuing implementation of measures that will ensure that the Cayman Islands Monetary Authority will be ready for the implementation of AIFMD.
Cayman Islands, Guernsey and Jersey announce intention to enter into FATCA agreements with the US and UK download
Cayman Islands, Guernsey and Jersey looks set to enter into US and UK FATCA agreements.
Certainty for portability in Australia download
Legislative certainty over portability in Australia is now on its way.
CFIUS shows new aggressiveness in ordering divestiture of wind energy farms download
Recent litigation has highlighted a new willingness on the part of the US Government to restrict parties’ activities relating to foreign acquisitions of US companies, through measures that go beyond the standard remedies of barring transactions or ordering divestiture.
CFTC clarifies swap dealer registration timing download
On 10 September 2012, in response to market uncertainty, the CFTC issued FAQs clarifying the timing of swap dealer registration.
CFTC issues further extraterritoriality guidance and relief for cross-border swaps download
On 7 January 2013, the US Commodity Futures Trading Commission published a time-limited final order exempting certain “non-US persons” from select regulatory requirements promulgated by the CFTC.
Chadbourne & Parke acts as counsel on three award-winning projects in the Americas
Chadbourne & Parke has acted as counsel on three winning 2012 deal-of-the-year awards for its work in the Americas.
Chadbourne & Parke lawyers advise lenders on Kreditprombank debt and equity interests
Chadbourne & Parke lawyers have once again advised a group of international lenders to Kreditprombank in connection with their debt and equity interests in the bank.
Chadbourne & Parke set to advise on Al-Khairan water and power project
Chadbourne & Parke is part of a consortium of advisers including BNP Paribas and Lahmeyer International to advise on the Al-Khairan independent water and power project.
Chadbourne represents OutServe-SLDN in Supreme Court effort to overturn DOMA
Chadbourne & Parke has represented OutServe-SLDN in a Supreme Court effort to overturn DOMA.
Chairman Rockefeller requests cybersecurity input from Fortune 500 companies download
On 19 September Senator John D. (Jay) Rockefeller IV (D-WV), chairman of the Senate Committee on Commerce, Science and Transportation, sent a letter to the CEOs of all Fortune 500 companies seeking their input on the nation’s cybersecurity needs.
Chambers & Partners ranks Olswang in band one for its Singapore TMT practice
Olswang has been recognised by Chambers & Partners as one of only four band-one international TMT practices in Singapore in the guide’s 2013 Asia-Pacific edition.
Chambers & Partners recognises Olswang in 2013 Global edition
Olswang has been recognised by Chambers & Partners in its 2013 Global edition.
Chambers Global 2013 — DLA Piper full ranking summary download
DLA Piper has released a summary of all of the firm’s rankings and editorial commentary in Chambers Global 2013.
Championing the UK Bribery Act: The 2012 Olympic Games and corporate hospitality download
Since it came into force on 1 July 2011, the impact of the UK Bribery Act 2010 on the giving of corporate hospitality, gifts and other expenses has raised concerns among those who fall under the Act’s jurisdiction.
Chancery division of High Court overturns exit consent download
The recent judgment of the Chancery Division of the English High Court in Assénagon Asset Management SA v Irish Bank Resolution Corporation Limited (formerly Anglo Irish Bank Corporation Limited), issued on 27 July 2012, struck down an exit consent in a transaction governed by English law.
Changes to the Companies Winding Up Rules download
The Companies Winding Up (Amendment) Rules 2013 came into operation on 1 March 2013. Orders 3, 8, 9, 11, 15, 19 and 25 of the Companies Winding Up Rules 2008 have been revoked and replaced by new orders.
Changing offices to residential without planning permission: the rise of flats download
The UK government recently announced in a letter to local authorities in England that new legislation will come into force in Spring 2013 allowing a change of use from offices to residential without the need to apply for planning permission.
Charlie Proddow
Partner
Charlotte Cook
Partner
Children and Families Bill 2012/2013 download
The Children and Families Bill 2012/2013 aims to improve the work-life balance for parents.
China antitrust review 2012 download
Looking back at 2012, four years after China implemented its Anti-Monopoly Law, we can discern some important ways in which China’s antitrust regime today both mirrors and departs from antitrust regimes in other jurisdictions to which our clients are subject.
China enacts new data privacy legislation download
On 28 December 2012, China’s national legislature enacted a new law to further regulate the collection and use of online personal information and to require certain network service providers to implement real name registration for all users.
China life sciences newsletter — Winter 2012 download
Welcome to the Fall/Winter 2012 issue of our China Life Sciences Newsletter, a periodic update on key developments, companies, and people in the dynamic China life sciences industry.
China releases draft administrative rules on national standards involving patents (interim) download
On 19 December 2012, the Standardization Administration of the People’s Republic of China (SAC) released a notice to solicit public comments regarding the updated draft Administrative Rules on National Standards Involving Patents (Interim).
China releases new draft patent law for comment download
On 9 August 2012, China’s State Intellectual Property Office (SIPO) released a draft fourth amendment to China’s Patent Law for public comment.
China sets new energy goals download
Reaction to the new five-year energy plan that China released in late January has been mixed.
China trade marks — inclusion of retail and wholesale services relating to medicines and pharmaceuticals download
The China Trade Marks Office recently announced that from 1 January 2013 it is accepting applications to register trade marks in relation to retail or wholesale services for pharmaceutical, veterinary and sanitary preparations and medical supplies only in class 35.
China’s anti-monopoly law makes it easier to sue in cases of anti-competitive conduct download
China’s Supreme People’s Court finalised and issued the “Relevant Issues Concerning the Application of Law in the Trial of Civil Monopoly Dispute Cases” on 8 May 2012.
China’s antitrust authority imposes fines on foreign corporations for the first time download
Recently China’s National Development and Reform Commission imposed an RMB353 million (USD 56.7 million) penalty against an international price-fixing cartel of LCD manufacturers, the largest the NDRC has ever imposed for antitrust infringement.
China’s legislature weighs in on online data privacy download
On 28 December 2012, the Standing Committee of the National People’s Congress, China’s legislature, weighed in on the subject of data privacy with its promulgation of the Decision on Reinforcing the Protection of Network Information.
China-based company’s victory in securities fraud case reversed on appeal download
On 1 August 2012, the Court of Appeals for the Second Circuit revived a putative securities fraud class action lawsuit against China North East Petroleum Holdings Ltd.
Chinese court issues rules governing private antitrust litigation download
On 8 May China’s Supreme People’s Court issued its Rules on the Application of Laws for Adjudicating Civil Disputes Arising From Monopolistic Conduct.
Chinese ruling changes landscape for value adjustment mechanisms in onshore private equity transactions download
The Supreme People’s Court of China rendered its final judgment on 7 November 2012, in the Haifu Investment Co., Ltd. v Gansu Shiheng Nonferrous Resources Recycle Company Limited.
Chinese white liquor producers fined for setting distributors' resale prices download
NDRC’s Guizhou and Sichuan offices have imposed fines of RMB247m and RMB 202m on Chinese white liquor (‘baijiu’) makers Maotai and Wuliangye respectively.
Christel Aguila
Partner
CIETAC issues announcement suspending Shanghai and Shenzhen sub-commissions download
In March 2012, the China International Economic and Trade Arbitration Commission released amended arbitration rules that became effective on 1 May 2012.
CIS legal update — September 2012 download
An update on developments in the CIS countries, including the Russian government’s tightening of control over strategic industries and cyberspace, changes to summary proceedings in Russian commercial courts and more.
Civil partners should have the same pension rights as married couples download
An Employment Tribunal has held that a provision of the Equality Act 2010 that allows benefits for civil partners to be limited to benefits attributable to service from 5 December 2005 is contrary to EU law that prohibits discrimination on grounds of sexual orientation.
Clash of the generations — age discrimination in the UK in 2012 download
In Europe, many employers are currently caught in the middle of a conflict between older and younger employees. UK employers may lawfully use age directly or indirectly in decision-making if “justified.”
Clifford Chance Graduate Recruitment Brochure 2012–13 download
Clifford Chance is looking for the brightest and most talented individuals.
Colette McCormack
Partner
Colin Hall
Partner
Colour trademarks in the fashion industry download
Just one day before the start of New York Fashion Week, the United States Court of Appeals for the Second Circuit gave some much-needed comfort to the fashion industry by ruling in the legal battle between French footwear designer Christian Louboutin and Yves Saint Laurent that Louboutin’s famous red lacquered sole deserves trademark protection.
Committee recommendations on Derivatives Transactions Bill download
The Parliamentary Joint Committee on Corporations and Financial Services (Committee) has released the recommendations from its inquiry into the Corporations Legislation Amendment (Derivative Transactions) Bill 2012 (Cth) (Bill).
Communications and technologies
NCTM has a comprehensive and solid experience in M&A transactions, contracts, regulations and disputes.
Community infrastructure levy: some good news for developers download
The Community Infrastructure Levy (Amendment) Regulations 2012 came into force on 29 November, removing the risk of developers being double charged CIL.
Confidentiality clauses: bound and gagged download
Recent publicity about confidentiality or ‘gagging’ clauses in employees’ severance agreements, especially where matters of wider public interest arise, has highlighted the issues involved in the negotiation and drafting of such provisions.
Conflict mineral rules: frequently asked questions download
The US Securities and Exchange Commission’s (SEC) conflict mineral rules, adopted in August 2012, present hard questions for public companies, which must evaluate whether they are covered by the rules, and, if so, make inquiry into the origin of the minerals used in their products.
Conflict minerals: understanding the SEC's final rules download
At an open meeting held on 22 August 2012, the Securities and Exchange Commission voted to approve final rules regarding disclosure and reporting requirements with respect to the use of “conflict minerals” to implement Section 1502 of the Dodd-Frank Wall Street Reform and Consumer Protection Act.
Consultation conclusions on the regulation of Hong Kong IPO sponsors download
On 12 December 2012, the Securities and Futures Commission published its eagerly anticipated consultation conclusions concerning the regulation of IPO sponsors.
Consultation on UKLA guidance notes download
The UK Listing Authority (UKLA) has published its fifth Primary Market Bulletin.
Contingent convertible bonds in the EU: structuring considerations and current legal issues download
In December 2011, the Basel Committee on Banking Supervision published its final rules, known as Basel III, modifying the Basel II regulatory capital accord for internationally active financial institutions.
Convertible bonds — an overview download
Since 2009, approximately 10 issuances of convertible bonds have been made by Hong Kong-listed companies.
Cookies Update: consent now needed; UK moratorium on enforcement ends download
Consent is now needed to most uses of cookies by UK-based websites.
Coordination but no consolidation: internal draft bill on group insolvencies in Germany download
We have reviewed an internal draft of the German Federal Ministry of Justice (Bundesjustizministerium) of a Bill to Facilitate the Handling of Group Insolvencies.
Corporate and commercial
The Corporate and Commercial department is made up of 82 professionals, including 22 equity partners and 14 salary partners. We are lawyers and chartered accountants.
Corporate internal investigations: best practices, pitfalls to avoid download
Corporations are being scrutinised today as never before. Public and private companies alike are examined and investigated not only by the US government, but by increasing numbers of local, state, and foreign government agencies.
Corporate litigation: Big-boy letters and non-reliance provisions download
Private investment transactions between sophisticated parties often include a negotiated agreement, sometimes called a ‘big-boy letter’, in which the buyer acknowledges that it has made its own independent assessment of the risks involved, including that the seller or other counterparty may possess material, non-public information regarding the issuer which has not been disclosed to the buyer.
Corporate websites: be careful who you’re linking with download
The English High Court has opened up the possibility that, even if a website is not itself defamatory, if it hyperlinks to a different website which is defamatory, the operator of the originating website could still be liable for alleged defamatory postings on the hyperlinked website.
Corrado Verna
Equity partner
Countdown to the introduction of the new patent box regime download
From 1 April 2013, UK companies will be able to elect into a new regime that applies a lower rate of corporation tax to profits from qualifying intellectual property rights.
Court rules that contractual damages cannot be recovered for manner of dismissal losses download
The Supreme Court has ruled that an employee cannot bring a breach of contract claim for losses flowing from the manner of dismissal even where the dismissal is in breach of an express contractual disciplinary procedure.
Cross-border resolutions: FDIC and Bank of England release white paper download
On 10 December 2012, the Federal Deposit Insurance Corporation and the Bank of England released a white paper, describing how each would resolve a materially distressed or failing financial institution that is globally active and systemically important in order to maintain its ongoing and viable operations.
CSRC further opens China’s investment banking market download
The China Securities Regulatory Commission recently amended the Rules on the Establishment of Foreign-Invested Securities Companies to raise the cap on the permissible foreign stake in securities companies from one-third to 49 per cent.
CSRC proposes relaxing qualified foreign institutional investor (QFII) conditions download
On 20 June 2012, the China Securities Regulatory Commission (CSRC) announced that it had started public consultation on a series of proposed rule changes that will lower some of the thresholds and otherwise relax some conditions for non-Chinese investors to obtain a license to be a qualified foreign institutional investor.
CSRC scraps quantitative thresholds for offshore listings by PRC companies download
China Securities Regulatory Commission, the securities regulator of the People’s Republic China, has scrapped quantitative threshold requirements for Chinese companies applying for offshore listings by promulgating new guidelines on 20 December 2012.
CSSF regulation 12–02 on the fight against money laundering and terrorist financing download
On 16 January 2013, the CSSF published the circular letter 13/556 announcing the entry into force of the CSSF regulation no. 12–02 of 14 December 2012 on the fight against money laundering and terrorist financing.
Cyprus: A Russian dimension to the Eurozone crisis download
With the end of summer, Europe’s political leaders are intensifying their efforts to address the Eurozone’s economic and monetary crisis.
Daniele Tani
Equity partner
Data Protection Laws of the World — March 2013 edition download
This handbook sets out an overview of the applicable privacy and data protection laws and regulations across 63 different jurisdictions to start you on your way through this complex area of compliance.
David von Hagen
Partner
Day one of the Murray Darling Basin Plan — good news for the environment? download
The Murray Darling Basin Plan became law on 19 March 2013, following years of negotiation and consultation between the Commonwealth, the Basin States and other key stakeholders.
Debtor-in-possession proceedings in Japan download
In this article, we take a brief look at an insolvency proceeding that has been introduced recently in Japan and has garnered a lot of attention.
Decision on strengthening the protection of online information download
At the end of 2012, the Standing Committee of the National People’s Congress in China adopted the Decision on Strengthening Protection of Online Information.
Defining a joint venture's scope of business: key issues to consider download
Early in the discussions about whether and how to form a joint venture — perhaps as the very first significant issue to be resolved — the potential joint venture partners will try to agree on the scope of the venture’s business.
Defining prudent underwriting: an international struggle download
In an attempt to insulate credit markets from the high-risk residential mortgage lending activities that threatened the global financial system in 2008, regulators both in the US and elsewhere are seeking to impose stricter residential mortgage underwriting standards.
Devaluing valuer defences (and other valuable lessons) weblink
The judgments in Blemain Finance and Webb Resolutions against E.Surv surveyors just before Christmas saw a swing in favour of the lender. A recent ruling against Countrywide Surveyors reiterates that view.
Developments in EU sanctions and trade controls download
On 15 June 2012, and after a considerable delay, Regulation 388/2012 amending Annex I of the EU Dual-Use Regulation (the EU Dual-Use List) came into force.
Developments jurisdiction and the recognition and enforcement of judgments across the EU download
The remarkable legislation that provides, across the European Union, a harmonised approach to jurisdiction and the recognition and enforcement of judgments from the courts of EU Member States is often taken for granted.
Direct contributions of equity interests as registered capital in China download
On 21 September 2012, the Ministry of Commerce promulgated the Interim Provisions of the Ministry of Commerce for Equity Contribution in Relation to Foreign-Invested Enterprises, effective as of 22 October 2012.
Dispute resolution and arbitration
NCTM’s litigation department is second to none among Italian law firms. Litigation counts for about 25 per cent of the firm’s work and is central to its culture.
Divisional acquisitions: a clean break? download
This article discusses some of the issues associated with a divisional acquisition over the acquisition of an entire enterprise.
DLA Piper advises ESPN on the acquisition of its UK and Ireland TV business by BT Group
DLA Piper represents ESPN on UK and Ireland TV business acquisition by BT Group.
DLA Piper advises Wereldhave on its UK exit
DLA Piper has represented Wereldhave on the sale of nearly its entire UK property portfolio in disposals for approximately £243m.
DLA Piper and RBS host networking event in support of Oxfam's Get Together campaign
DLA Piper and RBS employees joined together to host a networking evening on 7 March in support of Oxfam’s Get Together campaign.
DLA Piper Graduate Recruitment Brochure 2012–13 download
DLA Piper offers graduates a legal career on a different scale.
DLA Piper publishes March issue of ‘Sports, Media and Entertainment Intelligence’ weblink
DLA Piper publishes March issue of ‘Sports, Media and Entertainment Intelligence’.
DLA Piper releases 2013 European Hotel Outlook Survey download
DLA Piper has released a report on the European hotel sector.
Do stats reveal abuse of the right to challenge an arbitral award for serious irregularity? download
The accusation: that section 68 of the Arbitration Act 1996 is relied on frequently and frivolously by parties wanting to frustrate an award as long as possible, having ‘lost’ the arbitration.
Dodd-Frank derivatives 101: what in-house counsel needs to know now download
What in-house counsel needs to know now about Dodd-Frank derivatives 101.
Dodd-Frank enhanced prudential standards for foreign banking organisations download
The US Federal Reserve has proposed a tiered approach for applying US capital, liquidity and other Dodd-Frank enhanced prudential standards to the US operations of foreign banking organisations with total global consolidated assets of $50 billion or more.
Dodd-Frank implementation: navigating the road ahead download
Almost two-and-a-half years after the enactment of the Dodd-Frank Act, the various federal agencies charged with implementation have made measurable progress and have, in the last several months, taken on the major regulatory actions in earnest.
Does production tax credit extension mean a more likely phase-out? download
Congress finally got around to extending the production tax credits and investment tax credits for wind, geothemal, biomass, marine, landfill gas and hydro projects.
Doing business in Europe: top 10 labour law issues download
In this article we list the top ten labour law issues employers operating in Europe need to understand in order to avoid employment disputes, litigation and disruption to their businesses.
Eased sanctions widen doorway to Myanmar oil and gas sector download
On 11 July 2012, the US formally eased certain sanctions relating to “new investment” in the Union of Myanmar and on the exportation of financial services to Myanmar.
ECHR finds that greater protections are required for the political beliefs of UK employees download
The European Court of Human Rights (ECHR) has held that employment law in the United Kingdom does not adequately protect individuals from dismissal as a result of their political beliefs or affiliations.
ECJ clarifies scope of communication to the public right download
The ECJ announces its decision on ITV & others v TV Catchup C-607/11.
ECJ permits movement of national companies into other EU member states download
The European Court of Justice (ECJ) has ruled that cross-border migration by way of converting into a company format subject to the laws of a different EU member state is protected and permitted by overriding EU law even in cases where the national laws of the two countries in question do not provide for such a possibility.
ECJ rules access to documents can be denied if disclosure undermines merger control proceedings download
Amid the recent bout of judgments painting a complex picture of access to documents in antitrust cases, the latest judgment of the European Court of Justice provides very clear guidance in the specific context of merger control.
Edwards Wildman Trainee Opportunities in London, 2012–13 download
Selecting small groups of trainees, developing them through their training contract and on through qualification and beyond is fundamental to the growth of the firm. Edwards Wildman takes their selection and training very seriously.
Eleanor Kilminster
Partner (construction)
Emily Brand
Partner
EMIR timely confirmation rules in force download
On 15 March 2013, a number of Regulatory Technical Standards implementing the European Markets Infrastructure Regulation take effect.
Emma Chadwick
Partner
Employee stock plans 2012: year-end international reporting requirements download
This Commentary highlights some of the principal calendar and year-end reporting requirements for employee stock plans that US companies most commonly encounter when offering these programs to their employees in selected jurisdictions worldwide.
Employers subject to US FMLA should ensure they are compliant with the revised regulations download
The US Department of Labor has updated the Family and Medical Leave Act regulations.
Employment
The Employment Department has developed a considerable experience in providing legal assistance on employment and labour law matters.
Employment alert — is weight a disability issue? download
According to a 2012 NHS report, 26 per cent of the UK’s adult population is obese. Data shows an approximate one per cent annual increase in obesity.
Employment News — 18 March 2013 weblink
This week’s Employment News features articles on redundancy selection, disciplinary procedures, data protection and mobile devices.
Employment News — March 2013 download
Hogan Lovells has released its employment news update for March 2013.
Energy
NCTM has expertise in financing, contracts, administrative law and the regulation of the energy sector.
Energy and environment partners from Hogan Lovells comment on UK shale gas
Hogan Lovells partners comment on the future of shale gas in the UK, with a focus on regulation.
English High Court allows commercial claim to be served on a defendant via Facebook download
The English High Court has recently allowed a commercial claim to be served on a defendant via Facebook and in the process has demonstrated that even the senior courts are willing to take advantage of the offerings of modern technology.
Environmental, health and safety
NCTM has developed a broad experience in Italian worker safety and environmental regulation.
EPA releases new separation distances guidelines download
The EPA has released new separation distance guidelines entitled ‘Recommended separation distances for industrial residual air emissions’ (EPA publication number 1518).
Equity capital markets — supplementary prospectuses: when are they required? download
ESMA is consulting on proposed draft regulatory and technical standards on when to publish a supplementary prospectus.
ESMA guidelines on ETFs and other UCITS: what they mean for managers download
The weeks leading up to the summer vacation saw a flurry of UCITS activity, including the publication of an ESMA report and guidelines on UCITS, the unofficial release of the draft UCITS V Directive and the publication of a consultation paper on UCITS VI.
ESMA permits deposits of new shares under GDR block listing regime download
A distinguishing feature of the UK Listing Authority’s GDR listing regime is that an applicant may submit a listing application (including a listing prospectus) to obtain a ‘block listing’ for its GDRs under which ‘up to’ a certain number of listed GDRs may be issued against deposits of the applicant’s shares into the GDR programme.
ESMA’s technical standards for EMIR download
The European Market Infrastructure Regulation, which came into force on 16 August 2012, created a new framework with the aim of introducing greater transparency and risk management mechanisms to the over the counter derivatives market in Europe.
EU Commission can bring follow-on actions for damages on behalf of the EU in cartel cases download
On 6 November 2012, the Court of Justice of the European Union ruled that the European Commission was entitled to represent the European Union in an action for damages before national courts.
EU commission ends antitrust proceeding after Areva and Siemens agree to limit scope of non-compete and confidentiality obligations download
On 18 June 2012, the European Commission announced its decision to accept commitments offered by Areva SA and Siemens AG limiting the scope and duration of non-compete and confidentiality obligations agreed to in the context of a nuclear technologies joint venture.
EU Commission proposes 2013 action plan for company law and corporate governance download
On 12 December 2012, the European Commission published an Action Plan with initiatives it intends to undertake in 2013 in the fields of EU company law and corporate governance.
EU Court rules on resale of 'used' computer programs download
On 3 July 2012, the Court of Justice of the European Union released its much-anticipated ruling in UsedSoft GmbH v Oracle International Corp.
EU implements latest Iran sanctions download
On 21 December 2012, the Council of the European Union adopted Council Regulation No 1263/2012, concerning sanctions against Iran.
EU parliament committee votes to strengthen extractive industry disclosure rules download
The EU Parliament’s Legal Affairs Committee voted recently to strengthen significantly the EU Commission’s proposed mandatory disclosure regime for payments to governments by certain businesses in the extractive industries and other sectors.
EU Parliamentary Committee backs tough disclosure rules for extractive companies download
On 18 September, 2012, the European Parliament’s Committee on Legal Affairs voted in favour of proposed EU legislation to impose disclosure obligations aimed at deterring corruption by large companies involved in extracting oil, gas and minerals and logging.
EU prohibits imports of Iranian natural gas and tightens other sanctions on Iran download
On 15 October 2012, the Council of the European Union adopted Council Decision 2012/635/CFSP amending Decision 2010/413/CFSP2 concerning restrictive practices against Iran.
EU proposes gender balance quotas for listed company boards download
On 14 November 2012, the European Commission adopted a proposal for a directive that aims to substantially increase the number of women on EU corporate boards.
EU prospectus directive: amendment update download
The prospectus regime is being amended throughout Europe.
EU regulations on website cookies download
A guide to compliance with new EU regulations regarding the use of cookies on websites.
EU strengthens sanctions against Iran and Syria download
On 15 October 2012, the Council of the European Union (EU Council) adopted new sanctions against Iran and Syria.
Eugenio Salvi
Equity partner
Eugenio Siragusa
Equity partner
Euro crisis: a UCITS perspective download
The economic uncertainties facing the Eurozone make it increasingly important for investment managers and investment fund boards of directors to anticipate and prepare for the impact of a ‘Euro event’, such as the exit of a country from the Eurozone.
Europe moves a step closer to a unified patent system download
Political agreement was reached at the June 2012 European Council meeting on what had been termed as the last remaining issue on Europe’s new patent system — the location of the Central Division for the Unified Patent Court.
Europe offers incentives to cloud computing growth download
The European Commission has issued a Communication setting out a road map for the future growth of cloud computing in Europe.
European Commission dawn raids: EU General Court reins in 'fishing expeditions' download
On 14 November, the EU General Court ruled that the European Commission had been too broad when setting out its mandate for the carrying out of dawn raids at the offices of companies in France and Italy.
European Commission probes Microsoft again download
The European Commission has made clear that it is pursuing a broader policy objective of ensuring swift finality to cases in dynamic markets through settlements and commitments.
European Commission publishes 2013 action plan on key changes to European company law download
The European Commission has published an Action Plan on European company law and corporate governance for 2013.
European Commission publishes directive to improve gender balance of listed companies download
The European Commission recently proposed a directive with the aim of accelerating progress to greater gender equality in corporate boardrooms.
European Commission publishes proposed delegated regulation under the AIFMD download
On 19 December 2012, the European Commission published its proposed delegated regulation on exemptions, general operating conditions, depositaries, leverage, transparency and supervision under Directive 2011/61 on alternative investment fund managers.
European Commission to settle half its cartel investigations in 2013 download
In a speech delivered at the College of Europe in Bruges on 14 January 2013, Joaquín Almunia, Vice-President of the European Commission, and Commissioner responsible for Competition, stated that the Commission hopes to settle around half of its outstanding cartel investigations in 2013, using the settlement procedure instituted in July 2008.
European Competition Network revises the model leniency programme download
The network of European antitrust regulators, the European Competition Network, has revised its model leniency programme for cartels.
European Court issues judgment in 'TVCatchup' reference download
On 7 March 2013, the European Court of Justice (ECJ) issued its long-awaited judgment in the case brought by ITV, Channel 4 and Channel 5 against TVCatchup.
European IP bulletin — December 2012 download
In this issue (inter alia): European Commission to review misleading and comparative advertising directive; Information Commissioner’s office publishes report on enforcement of new cookie rules; Scrabble tile trade mark declared invalid.
European Medicines Agency jeopardizes investments in drug development download
The heart of a marketing authorisation application is the pre-clinical and clinical data that proves the drug’s safety and efficacy.
Eurozone break-up: contingency planning for UCITS download
Over the last decade, the UCITS (Undertakings for Collective Investments in Transferable Securities) product has enjoyed tremendous success globally.
Exclusion of mines and minerals: the considerations download
Reservations of mines and minerals have come into sharp focus over the last year and pose a new challenge for developers.
Exemptions and no-action relief help funds navigate year-end CFTC registration requirements download
Changes to the US Commodity Exchange Act made by the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 subjected a large number of fund sponsors, including sponsors of non-US funds with US investors, to the jurisdiction of the US Commodity Futures Trading Commission for the first time.
Exit consents in English law-governed bonds download
In an important judgment handed down on Friday 27 July 2012 Justice Briggs, sitting at the High Court, Chancery Division, upheld a challenge to the commonly used restructuring technique of “exit consents” used in English law-governed bonds.
Exit consents unlawful under English law download
The Chancery Division of the English High Court has upheld a challenge to the legality of an exit consent on the basis that it was oppressive towards the minority bondholders and at variance with the purposes for which majorities in a class are given power to bind minorities.
Export ban: court construes FOSFA 201 prohibition and default clauses download
Court construes FOSFA 201 prohibition and default clauses.
Extraterritoriality: the Volcker Rule download
As the US bank regulatory agencies continue their efforts to implement the Volcker Rule under increasing political pressure to stiffen the Rule’s requirements, it is worth revisiting how the Rule, in its current proposed form, might affect non-U.S. banks and their activities even outside the US.
Failure to extend the renewable energy production tax credit download
The recent growth and success of the US wind power industry is attributable in large part to a federal renewable energy production tax credit that provides significant tax incentives for investment in and development of wind energy projects.
FCPA update — August 2012 download
This issue represents the first installment of a new feature of FCPA Update: our regional spotlight series.
FCPA update — December 2012 download
An update on issues arising from the Foreign Corrupt Practices Act, including Transparency International’s 2012 Corruption Perceptions Index DOJ and SEC discussions on FCPA guidance and current enforcement issues, and news from the BRICs.
FCPA update — July 2012 download
In this issue: the SFO’s latest bribery related settlement; The difficulty of recovering damages from the government when an FCPA prosecution misfires; German High Court ruling on pharmaceutical industry and doctors.
FCPA update — May 2012 download
An update on cases related to the Foreign Corrupt Practices Act, including the DOJ’s case against Morgan Stanley, the British government’s proposals concerning deferred prosecution agreements, and developments in Russia’s fight against corruption.
FCPA update — November 2012 download
In this issue: US enforcement agencies issue extensive new FCPA guidance; recent surveys highlight anti-corruption trends facing companies; Italy adopts new anti-corruption law.
FDIC and Bank of England signal significant cooperation on resolution issues in joint paper download
On 10 December 2012, the Federal Deposit Insurance Corporation and the Bank of England released a joint paper entitled Resolving Globally Active, Systemically Important, Financial Institutions outlining a resolution strategy for global systemically important financial institutions.
Federal banking agencies issue final stress-testing rules download
This week, US federal banking regulators each issued final rules that impose stress-testing requirements on all insured depository institutions and insured depository institution holding companies over a $10 billion total consolidated asset threshold, as required by Section 165(i) of the Dodd-Frank Act.
Federal Reserve approves first Chinese acquisition of a US bank download
Industrial and Commercial Bank of China Limited and its two controlling shareholders, China Investment Corporation and Central Huijin Investment Limited, are the first Chinese organizations approved by the Board of Governors of the Federal Reserve System to acquire a US bank.
Federal Reserve 'CCS' Determinations Open Door to Chinese Acquisitions of US Banks download
The Federal Reserve Board last week approved for the first time a controlling investment by a Chinese bank in a U.S. bank, opening the door for future Chinese acquisitions and investments in the US banking sector.
Federal Reserve’s CCS determination for Chinese banks has broader implications download
The Federal Reserve’s decision this week to confer Comprehensive Consolidated Supervision (CCS) status to three state-owned Chinese banks has been long awaited and paves the way for major Chinese banks to enter retail commercial banking in the US by acquiring US banks.
Federico Manili
Equity partner
Federico Trutalli
Equity partner
Fifth Conto Energia: new feed-in tariffs for photovoltaic energy plants in Italy download
On 10 July 2012, the new decree on the incentive system for the production of electricity by photovoltaic plants was published in the Official Gazette.
Filippo Cesaris
Equity partner
Financial services — protecting your brands weblink
Consumers are naturally drawn to brand names that clearly indicate the services being offered. It is therefore not uncommon for financial services to be offered using descriptive names such as Cash Today or Pay Day Loan.
Financial support directions and insolvency: the Pensions Regulator’s view download
On 26 July 2012, the Pensions Regulator issued a statement on financial support directions (FSDs) with the intention of providing further guidance and comfort with regard to the circumstances in which it will issue an FSD after a company has been placed into administration.
Financial Transaction Tax: European implementation and American imitation? download
Momentum is building to reform the US tax system and address the nation’s fiscal challenges.
FINRA provides early guidance about Its exam priorities download
In its annual summary of regulatory and examination priorities, the Financial Industry Regulatory Authority (FINRA) signaled that it will aggressively pursue market misconduct.
First Australian over-the-counter derivatives rules are out download
The Australian Securities and Investments Commission has taken the first concrete step to the actual implementation of G20 derivatives reforms in Australia.
First bundle of amendments to the Russian Civil Code is adopted download
On 18 December 2012, the draft Federal Law on Amendments to Chapters 1, 2, 3 and 4 of Part One of the Civil Code of the Russian Federation had its third reading in the Russian State Duma.
First test case for Dubai’s innovative Decree 57 restructuring regime download
On 1 April 2012, a Dubai- and Asia-based ship building and repair company became the first company to commence a reorganisation proceeding in the Special Tribunal created by Dubai Decree No. 57 for 2009 and avail itself of Decree 57’s integrated legal framework.
Focus on private equity — December 2012 download
In this issue: Unitranche in a time crunch; protect your valuable brands.
Following employment tribunal procedures: keep calm and take your time download
This briefing from Nabarro looks at a few simple steps that employers can take to reduce the risk of employment tribunal claims and to increase the chance of successfully defending them.
Food and drink
We have extensive experience in food and agriculture policy. Our client base spans the full agri-food supply chain.
Foreign Account Tax Compliance Act in 2010 download
The world of international taxation becomes more transparent with every passing year.
France: 2011 saw an increase in transfer pricing cases before the Conseil d’Etat download
On 4 January 2011, the French tax authorities published guidelines on new requirements that had been introduced relating to specific transfer pricing documentation.
France: the Nestlé case — a first incursion in the business restructuring arena by the FTA download
The cross-border transfer of a cash pooling activity within a multinational group constitutes an indirect transfer of profits.
Francesco Benedetti
Equity partner
Francesco Ferrari
Partner
Free Issue KWM Construction Practice — February 2013 download
This month’s Free Issue focuses on contractor insolvency and its impact on the timely completion of projects.
French accelerated financial safeguard available for holding companies download
New insolvency proceedings called “accelerated financial safeguard” were introduced into French law two years ago.
French draft budget for 2013 download
On 28 September 2012, the French government released its much-awaited draft budget for 2013, which, unsurprisingly, contains significant tax increases, targeting wealthy individuals and large businesses.
French employment news — what you missed during the Summer download
An update on developments in Frencj employment law, including new legislation on the tax regime concerning severance payments and sexual harassment, as well as important precedents in case law.
Frivolous suits: third paragraph of article 96 c.p.c. — when does bad faith subsist? download
This paper concentrates on the criterion on the basis of which the conduct sanctionable in the terms of article 96, third paragraph c.p.c., is added to.
From the shareholders' spring to the autumn of activism — power without accountability download
The UK press has had a field day over the past 12 months with news of shareholder challenges or activism. In the run-up to the AGM season in the spring, barely a day went by without report of shareholders flexing their muscles by taking on the boards of listed companies.
FSA-authorised asset managers required to attest compliance with conflicts of interest rules download
The FSA has issued a ‘Dear CEO’ Paper “Conflicts of interest between asset managers and their customers: Identifying and mitigating the risks”.
FTC announces important settlement with social networking app and releases new mobile app report download
The FTC announced a potentially groundbreaking settlement with the social networking app Path and released an important new staff report on Mobile Privacy Disclosures late last week.
Fund directors charged in recent SEC enforcement case targeting valuation download
For the past year, top officials of the Securities and Exchange Commission (SEC) have repeatedly identified the valuation of illiquid assets held by registered funds and private equity and hedge funds as one of the regulatory agency’s top five areas of enforcement focus. And, true to its word, the SEC has been actively pursuing such investigations.
Gambling law in Germany — an update download
An update on gambling laws in Germany.
Gender equality reporting period ends 31 March 2013 download
Employers are reminded that, for those subject to the reporting requirements under the WGE Act, the current reporting period ends on 31 March 2013.
German High Frequency Trading Act and automated trading strategies download
On 30 July 2012, the German Ministry of Finance published a discussion draft bill regarding High Frequency Trading for the German financial services sector in the form of an Act for the Prevention of Risks and the Abuse of High Frequency Trading (HFTA).
German labour and employment news download
In this issue (Inter alia): minimum wages in Germany; transfer of business by takeover of personnel; facilitation of immigration of specialised personnel.
Giammarco Navarra
Equity partner
Gian Carlo Sessa
Equity partner
Giuliano Berruti
Equity partner
Giuliano Lanzavecchia
Equity partner
Glasgow company fined £90,000 as ICO tackles nuisance calls download
The ICO has fined DM Design £90,000 for making thousands of unwanted marketing calls.
Global antitrust cooperation: EU’s top regulator signs MoU with China download
On 20 September 2012, European Commission officials concluded a Memorandum of Understanding (MoU) with Chinese officials in respect of antitrust law.
Government consults on consolidating pensions disclosure requirements download
On 18 February 2013, the government published a consultation on draft regulations aimed at consolidating and harmonising pensions disclosure requirements.
Graduate Recruitment Awards recognise Hogan Lovells for second consecutive year
Hogan Lovells has won two awards at The Times’ Graduate Recruitment Awards 2013.
Greater transparency on executive remuneration and shareholder empowerment download
Since the controversial announcement on 23 January 2012 by Vince Cable, the Business Secretary, that the UK Government intended to implement into law a new corporate governance regime to regulate executive remuneration, there has been much speculation and discussion as to the nature and extent of the proposed regime.
GTLDs and the Trade Marks Clearing House — what brand owners need to do now download
Many companies are applying to own and run as GTLDs either their own names (.brand) or descriptive terms (.money, .travel) instead of .com or .co.uk.
Guide to agile software development: part 2 — what should a customer do? download
Shoosmiths looks at what any customer entering an agile project should do to ensure that it is geared up to implement such a project and that the documents governing the project adequately protect its position.
Guide to regulation of funds in Jersey download
A guide to the regulation of investment funds in Jersey.
Guido Bartalini
Equity partner
Guido Fauda
Equity partner
Guido Foglia
Equity partner
Guy Harles
Partner
High volume, low prices mark California’s first carbon allowance auction download
California’s first carbon allowance auction on 14 November 2012 featured plenty of demand but a lower-than-expected closing price, based on results released on Monday by the California Air Resources Board.
High-value residential property tax attack weblink
Tax changes are intended to make owning high-value residential property through companies less attractive.
Hiring employees: maximising your returns download
Recruitment company Manpower has reported that the UK’s employment situation is the best since the recession began and that recruitment is set to increase.
Hogan Lovells acts for Assosim in petition against Dutch government
Hogan Lovells has assisted Assosim in a petition against the Dutch government.
Hogan Lovells advises 2e2 on sale of its European businesses to Logicalis Group
Hogan Lovells has advised IT company 2e2 on the sale of its European businesses to Logicalis Group for €24m in cash.
Hogan Lovells advises African Export-Import Bank on Kenya Airways aircraft financing
Hogan Lovells advises Afrexim on Kenya Airways aircraft financing.
Hogan Lovells advises on petroleum product tanker financing and acquisition
Hogan Lovells has advised APICORP and Tufton Oceanic on petroleum product tanker financing and acquisition.
Hogan Lovells advises on refinancing of French holiday-park operator
Hogan Lovells has advised a syndicate of five lenders on the €80m refinancing of French holiday-park operator Siblu.
Hogan Lovells advises PRUPIM on sale of 30 Berkeley Square to Mercury Finance
Hogan Lovells advises PRUPIM on sale of 30 Berkeley Square to Mercury Finance.
Hogan Lovells advises UK-based Arieso on sale to US company JDSU in deal worth $85m
Hogan Lovells has advised Arieso on its sale to JDSU.
Hogan Lovells advises Werit in Supreme Court patent infringement case
Hogan Lovells has announced that the UK Supreme Court has given its decision in the long-awaited Schütz v Werit case, ruling that Werit had not been infringing patent rights by supplying replacing parts.
Hogan Lovells Africa Newsletter — March 2013 edition weblink
The March 2013 edition of the Hogan Lovells Africa Newsletter is now available.
Hogan Lovells' Anna Kurian Shaw selected for LCLD's 2013 Fellows Programme
Anna Kurian Shaw from Hogan Lovells has been selected as an LCLD fellow for 2013.
Hogan Lovells announces formation of the Coalition for Privacy and Free Trade
Hogan Lovells has announced the formation of the Coalition for Privacy and Free Trade.
Hogan Lovells announces return of energy partner team
Energy partner team set to return to Hogan Lovells.
Hogan Lovells celebrates ECJ referral for ZTE in Huawei patent battle
Hogan Lovells has gained an ECJ referral on behalf of client ZTE in its patent dispute with Huawei.
Hogan Lovells' Gorrell and Bennett feature in list of the 100 Most Influential US Lawyers
Warren Gorrell and Robert Bennett from Hogan Lovells make the National Law Journal’s list of influential US lawyers.
Hogan Lovells helps secure class certification in Secret Service race discrimination case
Hogan Lovells has helped secure class certification in a race discrimination case involving the US Secret Service.
Hogan Lovells hosts grand final of Mosaic APAX Enterprise Challenge 2013
Hogan Lovells hosts grand final of Mosaic APAX Enterprise Challenge 2013.
Hogan Lovells partner and client win 2013 Alliance Flex Success Award
Hogan Lovells has announced that the Diversity & Flexibility Alliance has awarded Eve Howard and Susan Herlick as an attorney-client team with one of only two Alliance Flex Success Awards for 2013.
Hogan Lovells partner wins public law prize at ILO's Client Choice Awards
Hogan Lovells’ Lucas Osorio is the exclusive winner of International Law Office’s Client Choice Awards in the public law category for Spain.
Hogan Lovells partners are named as 2013 BTI Client Service All-Stars
Hogan Lovells has revealed that three of its partners were listed as All-Stars in the 2013 BTI Client Services All-Star report.
Hogan Lovells successfully acts for German antitrust regulator in €1.1bn damages claim
Hogan Lovells has successfully acted for the German FCO in a €1.1bn liability charges claim brought by GN Store Nord.
Hogan Lovells wins 'Private Equity Deal of the Year' award at Latin Lawyer event
Latin Lawyer recognises Hogan Lovells with ‘Private Equity Deal of the Year’ award.
Hong Kong and mainland China to provide for mutual recognition of retail funds download
The Hong Kong Securities and Futures Commission (SFC) announced on 23 January 2013 that it has been working closely with the China Securities Regulatory Commission (CSRC) to provide for the mutual recognition of retail funds authorised in Mainland China and Hong Kong.
Hong Kong capital market developments download
An overview of recent developments in Hong Kong capital markets, including new HKEx guidance on acquisitions and use of IPO proceeds.
Hong Kong regulator turns up the heat on IPO sponsors download
On 9 May 2012 the Securities and Futures Commission released its Consultation Paper on the Regulation of Sponsors, attaching draft new rules to regulate the duties and liabilities of IPO sponsors in Hong Kong.
Hong Kong Stock Exchange clarifies pre-IPO investment policies download
On Thursday 25 October 2012, the Hong Kong Stock Exchange issued two new Guidance Letters on pre-IPO investments.
Hong Kong: regulation of IPO sponsors download
On 12 December 2012 the SFC published its Consultation Conclusions concerning the regulation of IPO sponsors in Hong Kong.
Hong Kong’s Privacy Commissioner forges ahead with new direct marketing provisions download
The Personal Data (Privacy) Ordinance (PDPO) was amended last year and the direct marketing provisions will take effect on 1 April 2013.
How to miss penalties: a guide to avoiding penalty clauses download
Being English, you might think it is our nature to miss penalties, but what you might not realise is that as lawyers we can be just as anxious about penalties as the Premier League’s finest.
Hugh MacDougald
Partner
Imminent thematic review by FSA of asset managers in the UK download
The Financial Services Authority is shortly to embark on a thematic review of asset managers.
Impact of the AIFMD on investment companies download
Impact of the AIFMD on investment companies
Implications for the CFPB after the DC Circuit’s recess appointments decision download
A panel of three judges in the DC Circuit stunned Washington on Friday by striking down President Obama’s recess appointments to the NLRB in Noel Canning v NLRB on a basis much more sweeping than had been anticipated.
Importance of legal representation before regulatory bodies download
This paper from Shoosmiths looks at the importance of legal representation before regulatory bodies.
Important amendments to Turkish merger-control filings download
The Turkish Competition Board (‘TCB’) recently amended the notification thresholds and rules relating to mergers and acquisitions.
In Site — Winter 2012/2013 download
Engineering and construction newsletter, covering: Building Information Modelling; the new 2012 suite of RIBA appointments; and more.
In wake of ECJ ruling, EU member states amend exit tax regimes download
Following the decision of the ECJ in the case of National Grid Indus BV v Inspecteur van de Belastingdienst Rijnmond C-371/10, several EU member states have amended their exit tax regimes.
Ince & Co achieves top rankings in Chambers Global 2013 edition
Ince & Co has been recognised in Chambers Global 2013: The World’s Leading Lawyers for Business.
Ince & Co advises Hong Kong Maritime Museum on its relocation
Ince & Co Hong Kong has advised the Hong Kong Maritime Museum on the legal aspects of its relocation from Stanley to Central Ferry Pier 8.
Ince & Co appoints finance head David Pollard as new director of operations
David Pollard to succeed Andrew Jennings as director of operations at Ince & Co.
Ince & Co makes senior shipping appointment in Beijing office
Xu Guo has joined Ince & Co as a consultant based in the firm’s Beijing Office.
Ince & Co wins ‘International Law Firm of the Year — Shipping’ at Chambers China awards
Ince & Co in China is named ‘International Law Firm of the Year — Shipping’ at Chambers China awards.
Ince & Co wins firm and individual prizes at 2013 Client Choice Awards
Ince & Co recognised as firm winner for Greece at 2013 Client Choice awards.
Ince Law Alliance advises Dynamic Offshore Drilling on $205m jack-up rig
Ince & Co Singapore and Incisive Law have advised Cyprus-based Dynamic Offshore Drilling on the vessel financing, construction and delivery of Dynamic Vision.
Incentives for start-ups: update download
On 13 December 2012 the Italian Parliament adopted a law (the Law) to convert, with amendments, Law Decree No. 179 of 18 October 2012, aimed, inter alia, at promoting the establishment and growth of innovative start-ups in Italy.
Increasing investor disclosure requirements and restrictions for UCITS funds download
The European Commission and European Securities and Markets Authority recently published additional guidelines for Undertakings for the Collective Investment in Transferable Securities funds and launched further consultations on the UCITS regime.
Indemnities for costs in facility agreements: careful drafting required download
In K/S Preston Street v Santander (UK) plc [2012] EWCH 1633 (Ch) the High Court ruled in relation to an indemnity clause in a facility agreement.
India announces ‘big bang’ economic reforms download
After months of policy paralysis, the Indian government, on 14 September 2012, announced major reforms permitting and/or increasing foreign direct investment in the areas of multibrand retail, civil aviation, broadcasting and power trading exchanges with a view to boost economic growth.
India proposes a revamp of its company law regime download
On 18 December 2012, the lower house of India’s parliament cleared the Companies Bill 2012, in a significant step towards replacing the more than 50-year-old Companies Act 1956.
India Supreme Court decision signals pro-arbitration turn download
In an important reversal of precedent, the Supreme Court of India held that Indian courts may not exercise supervisory jurisdiction over foreign-seated arbitrations pursuant to the Arbitration and Conciliation Act, 1996.
Indonesian oil and gas regulator held to be unconstitutional download
On 13 November 2012, the Indonesian Constitutional Court held that the Upstream Oil and Gas Regulator in Indonesia, commonly known as BP MIGAS, was unconstitutional.
Industrial and intellectual property
NCTM offers strategic and commercial advice for the enforcement and protection of all forms of intellectual property.
Infrastructure financing does fall within the scope of European Union state aid rules download
The Court of Justice of the European Union has confirmed that the financing of infrastructure projects is subject to the European State aid rules.
Infrastructure procurement routemap: a guide to improving delivery capability download
The UK government has published the Infrastructure Procurement Routemap — a guide to improving delivery capability for consultation.
Input tax recovery: BAA fails to take off in the Court of Appeal download
BAA’s plight serves as a warning to prospective buyers where a purchase is to be structured through a SPV.
Insider trading annual review — 2012 download
2012 gave us another year of aggressive enforcement of insider trading laws.
Insider trading plans in spotlight again download
The spotlight is shining once again on the use (and possible abuse) of Rule 10b5-1 trading plans by corporate executives.
Insurance and reinsurance
NCTM offers services to both Italian and foreign insurers, re-insurers and others doing business in Italy.
Insurance and reinsurance review — January 2013 download
An overview of issues in insurance and reinsurance law, including the impact of Hurricane Sandy and shipping insurance news.
Insurance e-brief — March 2013 download
Ince & Co has released its insurance e-brief for March 2013.
Intellectual property and technology news: TV Catchup caught out? download
The CJEU has handed down its decision on the copyright questions referred by the UK High Court in the long-running battle between ITV, Channel 4 and Channel 5 and TV Catchup.
Intellectual Property Matters — March 2013 weblink
Walker Morris has released the March 2013 edition of its Intellectual Property Matters publication.
Inter-firm initiative Noticed promotes diversity within the legal sector
Noticed initiative aims to promote diversity and multiculturalism in the legal sector.
International arbitration and interim applications: jurisdictional issues download
International arbitrations often involve parties resident in jurisdictions that are not the same as the seat of the arbitration.
International Restructuring Newswire — March 2013 download
Chadbourne & Parke has released its International Restructuring Newswire for March 2013.
International Tax News — March 2013 weblink
DLA Piper has released the March 2013 edition of International Tax News.
International Tax Update — March 2013 weblink
Taylor Wessing has released the latest edition of its International Tax Update.
International trade
King & Wood Mallesons was one of the first Chinese law firms to provide legal services in the international trade law area.
International trade
We provide assistance to clients engaged in cross-border operations, as well as to companies that sell goods and services in different countries.
Interview with Miodrag Vujovic, director of the Competition Agency in Montenegro download
On 8 October 2012, Montenegro adopted a new competition law. Karanovic & Nikolic has interviewed the director of the Competition Agency, Miodrag Vujovic, about the law.
Investment funds in the Cayman Islands download
The Cayman Islands is one of the world’s leading offshore jurisdictions for the establishment of investment funds.
IOSCO and FSB recommend additional money market fund reform download
The International Organization of Securities Commissions (IOSCO), an international organisation of securities regulators, recently published its Policy Recommendations for Money Market Funds.
IP Highlights — latest stories and IP news from south-east Europe download
Karanovic & Nikolic presents a brief overview of IP news for the region of south-east Europe.
ISS and Glass Lewis release 2013 voting guideline updates download
The proxy advisory firms Glass Lewis & Co. and Institutional Shareholder Services Inc. recently released the 2013 updates to their US proxy voting guidelines.
It’s EMIR vs Dodd-Frank — and for Australians it’s déjà vu all over again download
On 15 March 2013, the first set of regulatory technical standards relating to the European Union’s implementation of the G20 commitments on over-the-counter derivatives will come into force under the EMIR.
Italian and European Community administrative law
NCTM has extensive experience in Italian and European Community administrative law.
Italy introduces a financial transaction tax as of 2013 download
On 21 December 2012, the Italian Parliament approved the budget law for 2013 (the Budget Law) contemplating, among other things, the introduction of a new tax applicable to certain financial transactions.
Italy’s new rules on notes and commercial paper download
On 3 August 2012 the Italian Parliament adopted a law to convert, with amendments, Law Decree No. 83 of 22 June 2012, that introduced important measures aimed at stimulating the Italian economy (the so-called decreto sviluppo or ‘development decree’).
James Duncan
Partner
Jane Sewell
Partner
Japan’s new feed-in tariffs: Government’s model contract available now download
On 1 July 2012, the Act on Special Measures concerning Procurement of Renewable Energy Sourced Electricity by Electric Utilities (Act No. 108 of 2011) came into effect and a feed-in tariff system was introduced in Japan in an effort to promote the use of renewable energy.
Japan’s version of the Feed-in-Tariff download
The government has finally disclosed details of Japan’s version of the Feed-in-Tariff (‘FIT) to be enforced this July.
Japanese listings in Hong Kong download
As an international financial center, Hong Kong is one of the world’s leading capital markets, with the Stock Exchange of Hong Kong being a favored venue for IPO fundraising activities.
Jersey’s finance industry consulted on impact of entering UK FATCA download
Jersey’s finance industry is being consulted on the impact of entering a ‘FATCA-type’ agreement with the UK.
Jo Keddie
Partner
Joanna Bussell
Partner
Jones Day Graduate Recruitment Brochure 2012–13 download
Jones Day operates a different training system to most City firms.
Judgment could have serious implications for waste management operators download
In March 2012, the Court of Appeal gave judgment in the case of Barr and others v Biffa Waste Services [2012].
Judgment of the EU Court of Justice in AstraZeneca v Commission download
On 6 December 2012, the EU Court of Justice dismissed AstraZeneca’s appeal of the General Court’s judgment in AstraZeneca v Commission.
Judicial review of government's transposition of EU Waste Framework Directive dismissed weblink
It has been held that commingled collections of paper, metal, plastic and glass are compliant with the requirements of the EU Waste Framework Directive.
Jurisdiction of the Hong Kong Courts re winding up and unfair prejudice petitions — offshore companies download
Hong Kong law contains a number of provisions designed to protect the interests of minority shareholders, including the “unfair prejudice” remedies under section 168A of the Companies Ordinance and the Ordinance’s “just and equitable” winding-up provisions.
Karanovic & Nicolic holds business briefing focused on new public procurement law
Karanovic & Nikolic held a business briefing on the new Law on Public Procurement on 27 March 2013 at its offices in Belgrade.
Karanovic & Nikolic hosts workshop focusing on anti-corruption for Croatian corporates
Karanovic & Nikolic has hosted a workshop focused on anti-corruption for Croatian corporates.
Karanovic & Nikolic survey of corporates confirms legal compliance as a top priority
A corporate survey by Karanovic & Nikolic has confirmed the importance of legal compliance and risk management.
Karen Cooksley
Partner
Keith Jenkins
Partner
Key areas of focus for private fund advisers in 2013 download
The elimination of the exemption from registration under the Investment Advisers Act of 1940, as amended (the Advisers Act), for advisers with fewer than 15 clients resulted in the registration of approximately 1,500 additional investment advisory firms.
Key changes to the DIFC’s markets law regime take effect today download
Following a public consultation process that began in April 2011, a number of key changes to the securities and capital markets legislation and regulations of the Dubai International Financial Centre take effect from 5 July 2012.
Key developments in IP — January 2013 download
Real Intellectual Property Case Law Guide.
King & Wood Mallesons acts for Airtrain Holdings in sale to UK pension fund
King & Wood Mallesons has acted for Airtrain Holdings in its sale to USS Axle, by way of three interconditional schemes of arrangement, for AUD109.55m (£76m).
King & Wood Mallesons acts for GE Capital on acquisition of Allianz Australia's loan book
King & Wood Mallesons has advised GE Capital on the acquisition of Allianz Australia’s loan book.
King & Wood Mallesons advises Melbourne IT on sale of its Digital Brand Services business
King & Wood Mallesons has advised Melbourne IT on the sale of its Digital Brand Services division to Corporation Services Company for AUD152.5m.
King & Wood Mallesons advises on Australian High Court arbitration case
King & Wood Mallesons has announced that the High Court has confirmed the constitutionality of Australia’s arbitration framework for resolving international disputes.
King & Wood Mallesons' Employee Relations & Safety Update — March 2013 weblink
King & Wood Mallesons has released the March 2013 edition of its Employee Relations & Safety Update.
King & Wood Mallesons hires Tim Sherman as a partner in the Sydney tax team
KWM has appointed Tim Sherman as a partner in the tax team at the firm’s Sydney office.
King & Wood Mallesons provides Chinese translation for legal novel
King & Wood Mallesons contributes to bi-lingual legal novel.
King & Wood Mallesons releases March 2013 edition of The Landscape download
King & Wood Mallesons has released the March 2013 edition of The Landscape.
King & Wood Mallesons wins 'Regional Firm of the Year' at 2013 IFLR Asia awards
King & Wood Mallesons has won the award for ‘Regional Firm of the Year’ at the 2013 IFLR Asia awards.
Krogerus advises Abloy in FCA investigation
Krogerus advised Abloy in an investigation by the Finnish Competition Authority that ended on 14 March 2013 with a decision to terminate the proceedings with no further action to be taken.
Krogerus advises arranger and dealers on SATO's secured note issuance programme
Krogerus has advised arranger and dealer Pohjola Bank, and the other dealers, on SATO’s €500m secured note issuance programme.
Kuwait’s capital markets regime: reduction in fee for marketing foreign investment funds download
In February 2010 the National Assembly of Kuwait passed Law No. 7 of 2010 on Establishing a Capital Markets Authority and Regulating Securities Activities.
KWM advises HeidelbergCement on agreement to control Cement Australia
King & Wood Mallesons advises HeidelbergCement on Holcim joint venture agreement to control Cement Australia.
Landlords benefit as Supreme Court overturns service charge decision weblink
On 6 March 2013, the Supreme Court delivered its eagerly anticipated judgment in Daejan Investments Ltd v Benson. The court overturned the earlier decisions of the Court of Appeal.
Late payment of commercial debts: new developments of interest download
The Late Payment of Commercial Debts Regulations 2013 comes into force on 16 March 2013, affecting commercial contracts for the supply of goods or services entered into after that date.
Late-payment rules — what's changing? What drafting changes do you need to make? download
Minor changes to the UK’s late-payments regime take effect on 16 March 2013. Organisations should review B2B contracts for goods and services to ensure payment periods do not fall foul of the amended rules.
Latest developments in the UK government’s efforts to cut back red tape in employment law download
In the past two months, the UK government has announced a number of reforms to existing UK employment law.
Latest trends in cloud computing in China download
Cloud computing continues to be an area of significant interest and investment for many companies.
Law Commission's consultation paper on rights to light download
Rights to light continue to have a major, perhaps disproportionate, impact on the property industry and property development particularly in urban centres.
Lawyer rating publication recognises Ince & Co's Super Lawyers and Rising Stars
Thomson Reuters’ Super Lawyers publication recognises Ince & Co.
Lessons from four years of antitrust enforcement in China download
China’s Anti-Monopoly Law celebrated its fourth anniversary in August 2012. Given the importance of the Chinese economy and the increase in antitrust enforcement in that country, the AML should rank high on in-house counsels’ radar screens.
Licensors beware? Sub-licence capable of surviving termination of head licence download
The High Court has held that it is possible, in certain circumstances, for a sub-licence to remain valid despite the termination of the head licence.
Limiting recovery of service charge for residential property download
Readers will be aware of the statutory restriction on recovery of service charge from tenants of residential property, if the landlord fails to carry out a consultation with the tenants in relation to ‘qualifying works’.
Linklaters Graduate Recruitment Brochure 2012–13 download
Our business is all about exceptional people. So we want the best and the brightest to fulfil their true potential at Linklaters.
London Listings for Russian mineral companies download
Against a backdrop of continued global economic uncertainty and risk aversion, mineral companies are generally better placed than companies in many other sectors to seek admission of their securities to the London Stock Exchange and access the international equity capital markets.
Looking behind the corporate veil weblink
The Supreme Court has addressed the question of how far it is possible to ‘pierce the corporate veil’.
Lorena Possagno
Equity partner
Louis Robert
Partner
Louise Leaver
Partner
Luca Toffoletti
Equity partner
Luigi Croce
Equity partner
Luxembourg legal update — March 2013 download
Arendt & Medernach has released its Luxembourg legal update for March 2013.
Luxembourg legal update — March 2013: criminal settlement soon in Luxembourg download
The bill of law no. 6518 will introduce ‘criminal settlement’ into the Luxembourg Code of Criminal Procedure.
Luxembourg legal update — March 2013: reform of rules for electronic archiving download
The ground-breaking reform of rules for electronic archiving.
Luxembourg legal update — March 2013: the ESMA guidelines on sound remuneration policies of AIFMs download
The ESMA guidelines on sound remuneration policies of AIFMs.
Luxembourg legal update, March 2013: AIFMD implementing measures — the delegated regulation download
The delegated regulation supplementing Directive 2011/61/EU.
Marc Sunnen
Resident partner, Brussels office
March 2013 Employment Briefing weblink
Walker Morris has published its Employment Briefing for March 2013.
March 2013 Finance Update weblink
Taylor Wessing’s March 2013 Finance Update summarises some of the more interesting recent legal developments in finance.
Marco Monaco
Equity partner
Marine, transport and logistics
NCTM is one of the leading practices in Italy in the marine, aviation and transportation sector.
Maritime transport antitrust guidelines will not be renewed download
The European Commission is to allow the guidelines on the application of its treaty to maritime transport services (2008/C 245/02) to lapse.
Mark Vinall
Partner
Matteo Trapani
Equity partner
Maurizio Cimetti
Equity partner
Max Kremer
Partner and head of the Moscow representative office
Medical device alert download
The US FDA has issued new draft guidance on distinguishing medical device recalls from product enhancements.
Mergers & Acquisitions and corporate governance report — December 2012 download
An overview of recent cases related to M&A and corporate governance.
Mergers and acquisitions — private equity
Various industry publications rate NCTM as one of the best Italian law firms in the field of M&A and private equity.
Michele Bignami
LawyerMilan Bar association, 1993Qualified to act before the Supreme CourtEducationPostgraduate degree in intellectual property law, University of London, 1988Law degree, Università Statale di Milano, 1987Practice ...
Mistaken dispositions into trust — a recent case heard before Royal Court of Guernsey download
Appleby recently acted in the matter of Dervan and MD Events v Concept Fiduciaries Ltd and Others for applicants to the Royal Court of Guernsey who sought to set aside two dispositions into an employee benefit trust on the ground of mistake.
MMF executives sue independent trustees for fraud and waste of corporate assets download
In a bizarre twist to the case of the money market fund that broke the buck, the investment adviser to the Reserve Primary Fund and its principals sued the fund’s independent trustees, laying the blame for the fund’s spectacular 2008 collapse squarely at their feet.
Money market funds: FSOC proposes reforms download
This afternoon, 13 November 2012, the Financial Stability Oversight Council, faced with a Securities and Exchange Commission that has been deadlocked over whether or how to address concerns about money market funds, voted unanimously to propose three MMF reforms.
Montenegrin Competition Agency fee tariff download
For the first time, the Montenegrin competition authority has regulated fees for its activities and services.
Montenegro — completing the legal framework for the 2012 Competition Law download
The Montenegrin Competition Agency is planning to complete the legal framework for the 2012 Competition Law.
More FoFA regulations: grandfathering and financial advice businesses download
The government has released an exposure draft Corporations Amendment Regulation concerning the ban on conflicted remuneration.
Mourant Ozannes helps tidy up historic Watler's Cemetary site on Grand Cayman
Mourant Ozannes volunteers have helped to clear the vegetation from a historic cemetary site on Grand Cayman.
Mourant Ozannes leads Citywealth Leading Lawyers list in 2013
Mourant Ozannes has gained recognition as the leading offshore law firm for international trusts and private client work.
MPF Awards recognises Hogan Lovells' Leading Edge and Momentum programmes
MPF Awards recognises Hogan Lovells’ development and leadership programmes.
Myanmar adopts new foreign investment law download
After a period of intense political wrangling and lengthy delays, on 2 November 2012 the President of Myanmar signed into effect a new foreign investment law (the FIL) to replace the previous foreign investment law enacted in 1988.
Myanmar’s new foreign investment law download
This month has marked some significant milestones for Myanmar (also known as Burma) which, as a former pariah state, has recently emerged as the new investment hotspot in Asia due to its rich natural resources and untapped markets.
Nabarro Graduate Recruitment Brochure 2012–13 download
At Nabarro, we understand what a critical phase in your life this is.
NAIC 2012 Fall national meeting download
The National Association of Insurance Commissioners held its 2012 Fall National Meeting from 29 November to 2 December 2012 in National Harbor, Maryland.
NDRC issues supplemental regulations in relation to RMB Bonds in Hong Kong download
The information required to be included in an application for RMB bond issuance in Hong Kong by PRC onshore non-financial institutions.
Need to Know — HR Update — Issue 3 2013 weblink
Issue 3 of Winckworth Sherwood’s Need to Know employee law update is now available.
New bill to require merger of multiple superannuation accounts download
A new bill before Parliament would require trustees of superannuation funds to merge multiple superannuation accounts held by the same member.
New compulsory pension provision in the UK from October 2012: an update download
From October 2012, the new UK pensions auto-enrolment regime will start to apply to the largest employers in the UK, being employers with 120,000 or more “eligible jobholders”.
New developments in the UK shale gas sector download
The shale gas sector in the UK is still in its infancy, but the UK government has announced recently new measures and incentives to encourage its growth.
New ESMA guidance signals more flexible approach on global depositary receipts download
On 20 June 2012, the European Securities Markets Authority published new guidance on the use of ‘up to amount’ listings of global depositary receipts (GDRs) which provides much needed clarity to issuers and participants in the European GDR markets.
New EU counterfeit goods regulation download
On 24 January 2013, the Internal Market and Consumer Protection committee of the European Parliament endorsed a new Regulation setting out customs procedures for goods suspected of infringing intellectual property rights.
New European regulation clarifies the status of extra-European bilateral investment treaties download
On 12 December 2012, the European Union issued a Regulation establishing transitional arrangements for bilateral investment treaties between Member States and third countries.
New figures confirm that Dodd-Frank whistleblower tips are pouring into the SEC download
The potentially enormous financial rewards offered to whistleblowers in return for information about suspected wrongdoing are generating a deluge of tips to the SEC.
New Hong Kong regime on obligations of sponsors download
The Hong Kong Securities and Futures Commission on 12 December 2012 published its consultation conclusions on the regulation of Hong Kong IPO sponsors.
New independence rules for compensation committees and their advisers download
Section 952 of the Dodd-Frank Act directs the national securities exchanges to adopt new listing standards applicable to compensation committees and compensation advisers.
New legal and tax regime for the Spanish REITs download
On 27 December 2012, the Spanish government approved Law 16/2012, which provides for long-awaited reform of the current legal and tax regime for Real Estate Investment Trusts.
New national planning policy framework for England download
The much anticipated National Planning Policy Framework has now become a reality.
New permitted development rights to make best use of underused buildings download
The government has announced that from spring 2013 it will increase the scope of permitted development rights to make the best use of underused buildings.
New regulatory framework for foreign banks with US operations download
On 14 December 2012, the Federal Reserve Board issued a notice of proposed rulemaking to apply enhanced prudential standards and an early remediation framework to foreign banking organizations (FBOs) with $50 billion or more in total global consolidated assets.
New share disclosure rules relating to UAE-listed companies download
The Securities and Commodities Authority has recently published amended market disclosure rules relating primarily to shares in companies listed on the Dubai Financial Market or the Abu Dhabi Securities Exchange.
New tax regime coming for qualified foreign institutional investors in China download
Since its launch in 2002, the Qualified Foreign Institutional Investor program has been the principal means for foreign investors to invest directly in the securities markets of Mainland China.
New UAE antitrust legislation in force from February 2013 download
On 23 October 2012, the United Arab Emirates enacted its Federal Competition Law (Federal Law No. (4) of 2012), which laid down new rules on anti-competitive agreements, merger control and abuse of dominance.
Nomination form not required for unmarried partner's pension download
A court has held that a requirement under the Local Government Pension Scheme in Northern Ireland requiring the deceased member to have completed a nomination form in order for a survivor’s pension to be paid to his unmarried partner was a breach of the ECHR.
Northern Ireland’s gambling laws — Taylor Wessing looks at the changes afoot download
Northern Ireland’s Executive announced last month that it intends to update the province’s outdated gambling laws.
Offering foreign investment funds in the UAE — a new regime download
The Securities and Commodities Authority of the United Arab Emirates (ESCA) in July 2012 published regulations relating to investment funds that significantly increase the regulation of both foreign and local investment funds active in the United Arab Emirates.
OFT publishes final report on the Payday Lending Compliance Review weblink
The OFT has found a widespread lack of compliance on the part of licensed businesses in the payday lending market.
Olswang advises Dundee International REIT on financing for office portfolio acquisition
Olswang advises Dundee International REIT on €257m financing for the acquisition of SEB Asset Management’s office portfolio.
Olswang announces partner promotions
Olswang has announced a series of partner promotions.
Olswang partners win accolades at ILO's Client Choice Awards
Two partners at Olswang have been recognised by the International Law Office in its Client Choice Awards 2013.
Olswang supports the UKSC Blog’s annual essay competition
The UK Supreme Court (UKSC) Blog, co-founded by Olswang and Matrix Chambers, has teamed up with The Guardian and the UK Supreme Court for its annual essay competition.
Olswang tax blog — news, views and analysis of the 2013 Budget weblink
In its tax blog, law firm Olswang discusses the 2013 Budget. The interactive blog features the latest news, views and analysis of Chancellor George Osborne’s announcements.
Ombudsman decisions on ill-health highlight the importance of adequate information download
Two recent decisions highlight the importance of ensuring that adequate information is obtained from and provided to the registered medical practitioner when considering an application for an ill-health early-retirement pension.
On Board — a publication for boards of Australian public companies download
On Board is an occasional publication for non-executive directors of Australian public companies and other large organisations.
On your marks, get set, go — preparing for the London 2012 Olympics download
This is our 3rd Olympics briefing, dealing with how to prepare for issues that may arise once the Olympic Games are underway.
ONEL: what constitutes genuine use of a Community Trade Mark? download
On 19 December 2012, the Court of Justice of the European Union (CJEU) handed down its long-anticipated judgment in the ONEL/OMEL case.
Opportunities flourish for M&A in Australian food and agriculture amid security concerns download
King & Wood Mallesons has hosted a panel discussion entitled ‘Changing tastes: Australian food and agriculture sector spotlight’.
Owen Carew-Jones
Partner
Pan-European preliminary injunctions in patent infringement proceedings download
The Court of Justice of the European Union, Europe’s highest court in charge of interpreting harmonised laws among the 27 member states, has set the scene for a new option in patent infringement proceedings in Europe.
Pan-European short selling regulation — the implications for US market participants download
This edition of our update on the pan-European short-selling Regulation focuses on the implications of the Regulation for market participants in the US.
Pan-European short-selling regulation download
The European Commission adopted a proposal on September 15, 2010 to harmonize the regulation of short sales and credit default swaps across the European Union.
Paolo Agnesi
Equity partner
Paolo Colombo
Equity partner
Paolo Gallarati
Equity partner
Paolo Montironi
Equity partner
Paolo Quattrocchi
Equity partner
Paolo Rampulla
Equity partner
Parent companies may owe a duty of care to their subsidiaries’ employees download
The English Court of Appeal recently delivered a judgment in Chandler v Cape Plc [2012] EWCA Civ 525 which has potentially significant implications for groups of companies.
Patricia Umunna
Partner
Patrick Sherrington comments on growth plan for UK legal services sector
Hogan Lovells’ Patrick Sherrington comments on MoJ’s ‘Plan for Growth’ for the UK legal services sector.
Paul Irving
Partner
Paul Morris
Partner
Payment protection products update — January 2013 download
The FSA and OFT have published their final guidance and summary of responses on Payment Protection Products.
PCAOB adopts new audit standard on communications with audit committees download
At an open meeting held on 15 August 2012, the Public Company Accounting Oversight Board voted to approve new Auditing Standard No. 16, Communications with Audit Committees.
PCAOB adopts standard on auditor communications with audit committees download
At its open meeting on 15 August 2012, the Public Company Accounting Oversight Board adopted Auditing Standard No. 16, Communications with Audit Committees, and related amendments to other PCAOB standards.
Pensions Regulator consults on DC governance download
The Pensions Regulator has issued a consultation on a new code of practice, regulatory guidance and regulatory approach relating to the governance of DC occupational pension schemes.
Pensions update — March 2013 download
Nabarro’s March 2013 pensions update is available now.
Pensions update — March 2013 download
Addleshaw Goddard has released its pensions update for March 2013.
Piermauro Carabellese
Equity partner
Pietro Maria Tantalo
Equity partner
Pietro Zanoni
Equity partner
Pitfalls in implementing employee incentive plans for executives in bankruptcy cases download
To successfully reorganize in Chapter 11, a bankrupt company may need to retain key employees who understand the company’s business and who can design and implement the company’s reorganisation plan.
Planning reform in dribs and drabs download
Environmental planning regulation clause increases scrutiny on the issue of occupation certificates.
Poland in the spotlight: extensive changes to Polish competition law download
Polish legislators have confirmed their commitment to change significantly the provisions of the Polish Competition Act.
Policy makers turn attention towards possible systemic banking risk download
For the last four years, regulators and law makers have been focusing extraordinary efforts on ensuring that financial regulation is adequate to protect the financial system from risks emanating from the banking sector.
Post-election changes and their impact on the financial services industry download
During his first term, President Obama began an ambitious path of reforming the US financial system with the passage of the Dodd-Frank Wall Street Reform and Consumer Protection Act.
Potential insurance and reinsurance implications of Hurricane Sandy download
Hurricane Sandy wreaked havoc on the East Coast of the US. When it struck land, Sandy was approximately 950 miles wide.
Practical pointers in respect to non-compete agreements in China download
In 2008, China’s Labour Contract Law provided uniform rules regarding non-compete issues after the termination of an employment relationship.
Practice areas: financial restructuring — Hannah Wright (Bingham McCutchen) download
During the current economic downturn, companies and government entities are increasingly finding themselves in financial difficulties, whether due to falling revenues, changing markets or having taken on too much debt which they cannot continue to service.
Practice areas: shipping — James Rose (Ince & Co) download
Shipping law covers a broad range of practice areas, which include both contentious and non-contentious matters.
Preserving dilapidations rights on a lease surrender download
Care is required to preserve dilapidations rights on a lease surrender.
Price-fixing cartels: China crackdown continues download
Major new enforcement action in the People’s Republic of China shows both the continuing crackdown on price-fixing cartels and an increased level of awareness about the prohibitions.
Privacy and data protection: 2012 in review download
Privacy and data protection continue to be an exploding area of focus for regulators in the United States and beyond.
Private-equity/real-estate investments
Our real-estate and private-equity funds lawyers advise on all the aspects relating to the structuring and organisation of private-equity and real-estate funds, managers or advisers.
Procurement and tax: beware your sins will find you out download
With effect from 1 April 2013, suppliers tendering for government contracts above the threshold will be required to declare their tax compliance history as part of the public procurement process.
Progress of the EC draft data protection package and the implications weblink
Implications of the EC’s draft data protection package.
Property authorised investment funds — where are we going? download
In 2008, the government introduced tax breaks for UK property funds. Now, five years on, we are seeing authorised investment funds being launched as property authorised investment funds.
Property implications fact sheet: Autumn statement download
George Osborne’s Autumn Statement contained several key implications for the property industry, examined in this briefing.
Proposed changes to UK listing rules download
The Department for Business, Innovation and Skills on 20 September 2012 announced that it has developed a set of proposals with the London Stock Exchange aimed at attracting high-growth companies to list their businesses on the LSE.
Proposed rules relating to the relaxation of the prohibition on general solicitation download
The Securities and Exchange Commission today proposed amendments to Rule 506 of Regulation D and Rule 144A under the Securities Act of 1933 to implement Section 201(a) of the Jumpstart Our Business Startups (JOBS) Act.
Protecting your trademarks in the new domain names expansion download
There is about to be an explosion in new generic top-level domain names (gTLDs) beyond .com, .org, .edu and so on.
Public company priorities for the new year download
Looking ahead to 2013, directors, executives and general counsel of public companies can take some solace from the fact that 2012 was not a year in which a large number of significant new disclosure rules or governance requirements were adopted.
Questions and answers about FATCA and foreign trusts download
The US Treasury Department recently issued proposed regulations interpreting sections of the Internal Revenue Code (the Code) commonly referred to as the Foreign Account Tax Compliance Act (FATCA).
Race to the court — where do you want your case to be heard? download
The recent case of UBS Limited & UBS AG v. Regione Calabria [2012] EWHC 699 (Comm) examines what happens when there are competing claims in the courts of different EU Member States in circumstances where one of the claims was arguably not properly brought.
Radar: Technology and Communications Update — March 2013 weblink
Taylor Wessing has published its Radar: Technology and Communications Update for March 2013.
Raffaele Caldarone
Equity partner
Real estate
NCTM’s Real Estate group is one of the leading groups in Italy offering the full range of services.
Real Estate Dispute Resolution — Quarter Day: Issue 93 download
Issue 93 of Quarter Day discusses topics, including permissable margins and contributory negligence, a change in bailiff action and reformed civil ligitation costs.
Real Estate newsletter — March 2013 download
This month’s Real Estate newsletter from Nabarro discusses residential tenancies, explains how to avoid stopping up and explores the various types of tenant security.
Rebate schemes and discount practices by dominant companies under EU competition law download
The European Court of Justice recently handed down a significant decision holding that the Tomra Group had abused its dominant position through the use of exclusionary strategies in the European Economic Area.
Receivership Update — March 2013 weblink
Walker Morris has released its Receivership Update for March 2013.
Recent amendments to the Spanish securities act download
The Spanish Government has recently passed Royal Decree-Law 24/2012, of 31 August on the restructuring and liquidation of financial entities.
Recent cartel developments in the UK download
This Alert summarises two significant recent developments in UK cartel law.
Recent developments in executive compensation litigation — January 2013 download
In the current environment and in the wake of Dodd-Frank (and, before that, TARP) mandated rules requiring shareholder advisory votes on executive compensation, shareholder-plaintiffs have more aggressively challenged executive compensation decisions.
Recent developments regarding potential pension liabilities for private equity funds download
This Alert summarises recent rulings interpreting when private equity funds could have exposure for the qualified pension liabilities of a portfolio company.
Recent news highlights — corporate and energy and infrastructure download
This briefing from Karanovic & Nikolic provides an overview of the latest legislative news and upcoming and ongoing projects in Macedonia.
Recent settlement highlights need for OFAC diligence download
The Office of Foreign Assets Control (OFAC) recently entered into a settlement agreement with a European-based asset manager for an alleged violation of US sanctions against Iran.
Recommendations of the expert committee on the Indian General Anti-Avoidance Rule: a welcome step download
On 1 September 2012, the Shome Committee, which was constituted by Indian Prime Minister Manmohan Singh to review the General Anti-Avoidance Rule, submitted its 108-page Expert Committee Report to the Indian Government.
Recovery and resolution of banks — German legislative developments download
An overview of the implications of the German Federal ministry of Finance’s Draft Bill on Recovery and Resolution Planning for Banks, which deals with recovery plans and resolution planning for banks and banking groups.
Recovery of VAT on transaction costs download
It is important that transactions are structured so that VAT on transaction costs may be recovered where possible by the Bidco.
Redundancy: guidance for employers on following a fair procedure download
Continuing economic uncertainty presents employers with challenging employment decisions and on occasion the need to conduct redundancy exercises.
Reform of state pension and end of contracting out download
A government white paper details its plans for reforming the state pension into a ‘single-tier’ system for future pensioners.
Reform to Mexico’s Federal Labor Law download
The Labor Practice Group of Baker & McKenzie Mexico has prepared this document containing a general analysis of the relevant concepts of the reform to the Federal Labor Law approved by the Mexican Congress on 13 November 2012.
Reforming Australia's mineral and energy resource exploration sector download
Recognising Australia’s declining share of international energy and resources exploration investment, the Australian government has commissioned its independent research and advisory body, the Productivity Commission, to evaluate non-financial barriers to exploration investment.
Regulating right — how new British Virgin Islands reforms work download
Michael Burns, Nadia Menezes and James McConvill explore the implications of recent British Virgin Islands reforms.
Regulation of Jersey fund offers download
The extent to which an offer document for a Jersey fund is regulated depends on the type of fund and how widely the offer document will be circulated.
Regulation of non-Jersey fund offers in Jersey download
This briefing considers the circumstances in which regulatory consent is required by a non-Jersey fund for the circulation of an offer document or other marketing activities in Jersey.
Regulatory capital: 1 January 2013 deadline eased download
This morning, the three federal bank regulatory agencies announced that their proposed new capital rules based on Basel III (and other Basel standards) would not take effect on 1 January 2013, a date previously proposed apparently in order to adhere to international consensus.
Relaxing the regime on company names download
The government is seeking views on proposals to reduce restrictions on company names, which are widely seen as the cause of confusion and delay in the registration process.
Release of confidential cartel information by European Commission to English High Court suspended download
On 29 November 2012, the EU General Court issued a provisional order suspending the European Commission’s decision to communicate to the High Court of England and Wales a copy of Alstom’s reply to the statement of objections in the gas insulated switchgear cartel.
Relevance of transfer prices for customs valuation purposes has been confirmed download
In March 2012, the French customs authorities published an updated version of their guidelines applicable to customs value containing an amendment with respect to transfer pricing.
Religious discrimination in the workplace download
The European Court of Human Rights has issued its long awaited judgment in the case of Eweida and Others v the United Kingdom.
Renewable and alternative energy companies competing for the US Army’s $7bn contract download
Renewable and alternative energy (RAE) companies will throw their hats into a rich, but potentially risky, ring for an opportunity to contract with the US Army beginning at the end of September 2012.
Renewable energy project challenges — snapshot of the litigation landscape download
After more than a year-and-a-half of tracking and almost 10 years of data, we present some observations on the litigation landscape relating to renewable energy development.
Repeal means COBO consent is not required for borrowings by Guernsey companies download
COBO consent is no longer required for borrowings by Guernsey companies.
Restructuring & Corporate Recovery Update — March 2013 weblink
Taylor Wessing has released the March 2013 edition of its Restructuring & Corporate Update.
Restructuring and turnaround
NCTM has experience in bankruptcy and insolvency law in general, as well as in debt restructuring procedures, distressed investments and ‘special opportunities’.
Revised policy on downstream investment by foreign-owned Indian banking companies download
The Government of India has revised its policy in relation to downstream investments by banking companies incorporated in India that are owned and/or controlled by non-residents or non-resident entities.
Revisions to liquidity coverage ratio expected to reduce burden on banking organisations download
On 7 January 2013, the Basel Committee on Banking Supervision released highly anticipated revised rules governing the Liquidity Coverage Ratio included in the Basel III framework finalised in December 2010.
Revisions to the UK corporate governance code and guidance on audit committees download
The Financial Reporting Council has published a consultation paper detailing revisions to the UK Corporate Governance Code and its accompanying guidance on Audit Committees.
Riccardo Papetti
LawyerPractice areasMergers and acquisitions/private equityRestructuring and turnaroundLanguagesItalianEnglish
Richard Perkins
Partner
Richard Tinham
Partner (commercial and corporate)
Rights of light: hugely important reforms proposed by the Law Commission download
The Law Commission has published a consultation paper containing its recommendations for reforming the law on rights of light.
Robert Botkai
Partner
Roger Fitton
Managing partner
Royal Decree Law 24/2012 addresses restructuring and termination of Spanish credit entities download
The Spanish Council of Ministers has approved the Royal Decree Law 24/2012 , for the restructuring and termination of Spanish credit entities.
Rule 10b5-1 plans: what you need to know download
Rule 10b5-1 plans are back in the news.
Running an efficient in-house legal team: ideas for best practice download
What constitutes best practice in managing an in-house legal team?
Russia’s accession to the World Trade Organization: challenges and opportunities for Russian companies download
On 22 August 2012, after 19 years of negotiations, the Russian Federation became the 156th member of the World Trade Organization.
Ruth Barnes
Partner
SAFE and foreign exchange rules download
Is the State Administration of Foreign Exchange finally loosening its grip on foreign exchange transactions? Not exactly.
Sam Dighton
Partner (housing and regeneration)
Same-sex marriage bill does not grant equal pension rights download
The Marriage (Same Sex Couples) Bill, which received its second reading in the House of Commons on 5 February 2013, legislation does not grant same-sex married couples equal pension rights to male-female married couples.
Samsung v Apple: English High Court decision — three Samsung patents invalid download
Mr Justice Floyd has given two judgments in the case of Samsung Electronics v Apple Retail UK and others, concerning three patents owned by Samsung that were alleged to be infringed by Apple’s 3G devices.
Sante Ricci
Equity partner
Schütz v Werit — replacing parts in patented products download
This recent patent decision of the Supreme Court provides guidance about when replacing a part might be treated as the infringing act of ‘making’ a patented product.
Schütz v Werit: when repairing a patented product is permitted download
On 13 March 2013, the UK Supreme Court handed down its ruling on the question of whether replacing part of a patented product infringes the patent in question.
SEC accuses fund directors of breaching their valuation duties download
In a case involving fair valuation of structured notes, the SEC signaled that when investment company fund boards delegate the responsibility to fair value portfolio securities, they must provide “meaningful substantive guidance” and continuously review the appropriateness of valuation methodologies.
SEC and CFTC finalise swap product definitions download
The SEC and CFTC have adopted joint final rules further defining the terms ‘swap’, ‘security-based swap’ and ‘security-based swap agreement’, and delineating jurisdiction over mixed swaps between the agencies.
SEC cuts off funding to groups committing human rights violations in Central Africa download
Pursuant to a mandate in the Dodd-Frank Act, the US Securities and Exchange Commission recently issued final rules requiring issuers to account for the use in their products of so-called conflict minerals.
SEC doles out minimal benefit to cooperator download
Since the enactment of Dodd-Frank, there has been a great deal of focus on rewards for ‘whistleblowing’ — bringing to the government’s attention evidence of wrongdoing that it did not previously know about.
SEC fails to reach agreement with Chinese regulators on document sharing download
The China affiliates of the biggest accounting firms in the world have been placed in real jeopardy due to the stalled negotiations between US and Chinese regulators over document sharing.
SEC proposes to permit public communications in private placement rules download
In late August, the Securities and Exchange Commission (SEC) proposed, by a 4–1 vote, to permit general solicitation and general advertising under two of its private placement safe harbor rules.
SEC statement on money market fund reforms download
On 22 August 2012, SEC Chairman Mary Schapiro announced that three of the five SEC Commissioners, constituting a majority of the Commission, had informed her that they would not support a staff proposal to reform money market funds.
Second Circuit clarifies standards for insider trading claims download
In the latest of a string of litigation victories it has scored in the Second Circuit, the Securities and Exchange Commission convinced a panel of the Second Circuit on 6 September 2012.
Second petroleum bid round in Myanmar download
On 17 January 2013, the Government of the Republic of the Union of Myanmar, through its Ministry of Energy, invited bids for 18 onshore oil and gas blocks in what is Myanmar’s second international petroleum licensing round.
Selected issues for boards of directors in 2013 download
In the years since the financial reporting scandals and the Sarbanes-Oxley Act of 2002, and in particular following the financial crisis and the Dodd-Frank Act of 2010, boards of directors have faced greater burdens and more intense scrutiny of their activities and performance.
Sending the privilege away: attorney-client emails in the corporate setting download
In a pending False Claims Act case involving allegations of noncompliance with the federal physician self-referral law, the US District Court for the Middle District of Florida has issued a recent order denying the protection of attorney-client privilege.
Sequestration haircut for Section 1603 payments download
An 8.7 per cent haircut will apply to Treasury cash grants paid for the remainder of this fiscal year due to sequestration.
Serbia — submit requests for IPPC permits on time download
Industrial production processes have a dominant share in the creation of pollution in Europe. Over the past several years, Serbia has adopted a set of regulations for integrated pollution prevention and to control installations that have a high pollution potential.
Serbian DPA issues second-ever approval for the transfer of personal data out of Serbia
Serbian Data Protection Authority issues its second-ever approval for the transfer of personal data out of Serbia.
Serious Fraud Office exercises civil recovery powers in respect of parent company assets download
The SFO has exercised its powers to seek civil recovery of the proceeds of crime once again, resulting in an Order against Oxford Publishing Limited to pay almost £1.9 million.
Servicing non-Jersey funds in Jersey download
In most cases, a Jersey entity that wishes to carry on fund services business in relation to a publicly offered non-Jersey fund will be able to do so entirely under its FS Law registration acting in accordance with the FSB Codes.
Setting aside wars: the arbitrator strikes back download
In 2006, Grand Pacific Holdings Ltd commenced an ICC arbitration against Pacific China Holdings Ltd (In Liquidation) in an attempt to enforce a loan agreement worth US$40 million.
Settlement and Part 36 offers — technicalities matter download
Settlement is a fundamental part of litigation, and parties should be alive to the potential costs advantages (and pitfalls) of making the right offer.
SFC looks to enhance the regulation of sponsors in Hong Kong download
Against a background where Hong Kong has been the world’s leading IPO center for the third year in a row, the Hong Kong Securities and Futures Commission (SFC) has published its much-anticipated consultation paper on the regulation of sponsors.
Shoosmiths acquires Laurence Kaye Solicitors
Shoosmiths is set to add a publishing and digital media specialist to its commercial offering.
Shoosmiths advises on sale and leaseback of Novell UK's multi-let freehold office building
Shoosmiths’ real-estate specialists have advised on the multi-million-pound sale and leaseback of a client’s multi-let freehold office building.
Shoosmiths assists with Chase Templeton's acquisition of UK Independent (Wessex)
Corporate specialists at Shoosmiths have helped Chase Templeton Group to make its first acquisition since securing growth funding.
Shoosmiths set to exhibit at Chartered Institute of Housing event in Glasgow
The social housing team from Shoosmiths’ Edinburgh office is to exhibit at the Chartered Institute of Housing Annual Conference and Exhibition.
Should we all be getting the Twitter 'jitters'? download
History is littered with examples of the law being slow to catch up with the use of technology. Social media is no exception.
Sick workers in UK not required to make leave request to enjoy accrued annual leave benefits download
The Supreme Court recently held in NHS Leeds v Larner that the statutory right to 28 days annual leave is not conditional upon a sick worker having made a leave request to the employer in the relevant leave year.
Simmons & Simmons advises Equinix on acquisition and alliance
Simmons & Simmons has advised Equinix on its acquisition of a data centre facility in Dubai and alliance with Emirates Integrated Telecommunications Company.
Simmons & Simmons advises European Energy on wind farm power plant acquisition
Simmons & Simmons has advised European Energy on the acquisition of wind farm power plants.
Simmons & Simmons advises Grant Thornton on administration of Opal Property Group
Simmons & Simmons is advising Grant Thornton on the administration of Opal Property Group.
Simmons & Simmons advises on £49m St Modwen share placing
Simmons & Simmons has advised JP Morgan Cazenove and Numis Securities on £49m share placing.
Simmons & Simmons announces employment partner appointments
Simmons & Simmons appoints Danny Tsang and Ian Fraser as partners within its international employment group.
Simmons & Simmons expands Amsterdam intellectual property team
Simmons & Simmons has appointed Hidde Koenraad as a partner in its IP team in Amsterdam.
Simon Livesey
Partner
Simone De Carli
Equity partner
Simplification of outline planning applications download
The UK government has continued its measures to streamline the planning process with the publication of the Town and Country DMPO 2012.
Simplification of the UK government's CRC Energy Efficiency Scheme download
Over recent months, announcements have been made in relation to the UK CRC Energy Efficiency Scheme, culminating in the publication of the draft CRC Energy Efficiency Scheme Order 2013 on 4 March 2013.
Simplified CONSOB rules on public tender and exchange offers download
In the course of 2012, the Italian securities regulator, Commissione Nazionale per la Società e la Borsa approved resolutions with the primary purpose of (i) simplifying and streamlining the compliance requirements with securities law provisions and (ii) implementing the new EU Prospectus Directive.
SJ Berwin Graduate Recruitment Brochure 2012–13 download
If you train at SJ Berwin you’ll be with like-minded people
Snapshot of China real estate market 2012 download
For China’s real estate sector, the last 18 months has been a relatively quiet period on the legislative front.
Spring clean your employment contracts: pensions and PILONs may need attention download
Spring is an excellent time to refresh your employment contracts. Even contracts that are kept under regular review may have become a little outdated as a result of recent developments in employment law.
State aid modernisation: EU Commission lays first cornerstones download
On 5 December 2012, the EU Commission issued an important package of proposals to amend Council Regulation 659/1999 governing State aid procedure and Council Regulation 994/982, which allows the Commission to exempt certain categories of State aid from the requirement of prior notification.
Stefano Padovani
Equity partner
Stéphane Karolczuk
Head of the Hong Kong representative office
Stress testing and capital planning: Federal Reserve issues guidance for 2013 cycle download
Today the Federal Reserve Board issued instructions and guidelines for two 2013 stress testing and capital planning programs, each of which builds on similar programmes from last year.
Stress testing: final rules for banking organisations from the federal banking agencies download
Earlier today, the Office of the Comptroller of the Currency, the Federal Deposit Insurance Corporation and the Federal Reserve Board approved final rules, which were proposed for comment in January of this year, implementing the Dodd-Frank Act’s company-run stress testing requirements.
Structured Thoughts: news for the financial services community download
In this issue: additional SEC guidance on estimated value disclosures; FINRA to continue Its focus on structured products; FINRA’s Ketchum discusses structured products; FINRA issues Q&A guidance on new communications rules; FINRA proposal requires disclosure of enhanced compensation.
Supermarkets' land agreements come under closer UK competition scrutiny download
On 1 July 2012, the Office of Fair Trading will implement its powers under the Groceries Market Investigation (Controlled Land) Order 2010 to assess the competitive impact of land agreements entered into by certain larger supermarkets.
Supreme Court confirms legal advice privilege extends only to legal profession download
The Supreme Court has confirmed that legal advice privilege extends only to the legal profession.
Supreme Court holds proof of materiality not required to certify securities fraud class action download
On 27 February 2013, the Supreme Court held plaintiffs in a Rule 10b-5 securities fraud class action for damages need not prove materiality to obtain class certification.
Susan Kelly
Partner
Swap regulations: what end-users need to know download
Under the Dodd-Frank Act, many categories of swaps will be subject to mandatory clearing.
Swiss residents taxed on a lump sum: France hardens its tone download
A number of foreign residents living in Switzerland benefit from an advantageous tax regime called régime du forfait, an attractive alternative to the tax based on the real income of the taxpayer.
Synapse: Law for Life Sciences — March 2013 weblink
This month on Synapse, Taylor Wessing discusses the impact of insolvency on licensors and licensees in the life sciences sector.
Tax
Over the years, NCTM’s team of tax experts has gained a strong reputation with audit firms and the corporate sector.
Taylor Wessing advises MML on acquisition of a majority stake in the ATA Group
Taylor Wessing has advised MML Capital Partners LLP on ATA Group investment.
Taylor Wessing advises on the $57m sale of Pims Group to Xylem
Taylor Wessing has advised Inflexion Private Equity Partners on the sale of Pims Group to US buyer Xylem for a headline price of $57m (£38m).
Taylor Wessing Graduate Recruitment Brochure 2012–13 download
Taylor Wessing’s trainee intake is a purposely small and select group of individuals.
Taylor Wessing sets out summary of UK Budget 2013 download
Taylor Wessing has set out a summary of some of the main announcements of the 2013 Budget.
Taylor Wessing summarises changes to the way online gambling is regulated in Britain download
Neil Hawley and Graham Hann summarise the proposed key changes to the regulation of online gambling.
Taylor Wessing's private equity team advises on SitexOrbis acquisition
Taylor Wessing has advised on the acquisition of SitexOrbis’s mainland UK business from VPS Holdings by a newly formed company advised by investment firm Sullivan Street Partners.
Tesco price promise and changes to comparative advertising weblink
The Tesco price promise that hit the news recently has come in for criticism from industry analysts and competitors.
The 2013 AGM and reporting season download
As the 2013 AGM and reporting season begins, we highlight the key developments and trends that listed and AIM companies should consider as they prepare for this.
The acquisition of control of a US public company download
An acquisition of any US corporation involves numerous legal and business issues.
The Cayman Islands: Mourant Ozannes presents a guide for hedge fund managers download
This paper explains the attractions of the Cayman Islands as a destination for hedge fund managers.
The 'client money' decision in the Lehman administration download
The UK Supreme Court has recently handed down a decision in a contentious and difficult application in the Lehman administration, a decision that fundamentally affects the allocation of client moneys in the Lehman estate.
The Control of Housing and Work (Jersey) Law 2012 — seminar presentations weblink
The Control of Housing and Work (Jersey) Law 2012 is expected to come into force on 29 April 2013. Property lawyers from Appleby ran a seminar on 11 March outlining the key aspects of the legislation.
The cost of failure to complete in the case Hooper v Oates weblink
After failing to complete on the purchase of a property and a subsequent diminution in value, the proposed buyers in Hooper v Oates were found liable for damages to be assessed at some later date.
The dissolution of BPMIGAS — impact and consequences download
On Tuesday, 13 November 2012, Indonesia’s Constitutional Court declared BPMIGAS, the state upstream oil and gas regulator, unconstitutional.
The emergence of hedge-fund-backed reinsurers in Bermuda download
Hedge funds have cottoned on to the benefits of Bermuda’s reinsurance market, with many establishing their own start-ups.
The EU alternative investment fund managers directive: impact on non-EU fund managers download
The Alternative Investment Fund Managers Directive (the Directive) aims to create a harmonised European regulatory framework for managers of alternative investment funds (AIF).
The EU imposes further sanctions on Iran download
On 15 October 2012 the Council of Ministers of the European Union approved a new round of sanctions against Iran.
The EU’s banking union proposals, consolidating the European regulatory supervision of credit institutions download
On 12 September 2012 the European Commission adopted legislative proposals, including a draft EU Regulation, to establish a single supervisory mechanism for banks which is to be led by the European Central Bank.
The Euro crisis — contingency planning for asset managers download
This paper seeks to identify, as a matter of contingency planning, legal issues which might arise for asset managers as a result of a contraction or restructuring of the eurozone.
The Euro crisis: impacts on cross-border contracts download
The eventual departure of one or more countries from the Eurozone, and reversion to national currency(ies) is no longer unlikely.
The Euro odyssey: an epic journey or a Greek tragedy in the making? download
The future of the European single currency stands precariously balanced. While hoping for the best outcome, prudent financial planning requires businesses to at least consider once unthinkable thoughts about the possible withdrawal of one or more member states from the single currency or even its demise altogether.
The FATCA Protocol: to adhere or not to adhere? download
On 15 August 2012, the International Swaps and Derivatives Association (ISDA) released a new Protocol relating to the effect on ISDA derivatives of taxes levied by the US under the Foreign Account Tax Compliance Act.
The FCPA in 2012 download
The year 2012 will probably be remembered in the annals of FCPA history as the year of the Guidance.
The federal banking agencies’ regulatory capital proposals download
On 12 June 2012, the federal banking agencies (the Office of the Comptroller of the Currency, the Federal Reserve Board and the Federal Deposit Insurance Corporation) formally proposed for comment, in a series of three separate but related proposals, substantial revisions to the US regulatory capital regimen for banking organisations that, if adopted, will have a significant impact on the US banking industry.
The federal banking agencies’ regulatory capital proposals — a summary download
On 12 June 2012, the Federal banking agencies formally proposed for comment, in three separate but related proposals, significant changes to the US regulatory capital framework.
The Federal Reserve board proposes Dodd-Frank systemic prudential regulations for foreign banks download
Late Friday afternoon the Federal Reserve Board proposed regulations to implement the enhanced prudential regulation and early remediation requirements of the Dodd-Frank Act for systemically important and other foreign banks.
The frivolous suit: third paragraph of article 96 c.p.c. — when does it apply? download
This paper offers a systematic interpretation of article 96, third paragraph c.p.c. concentrating on the grounds wherein the judge may make award.
The German Implementing Act for the AIFM directive: a critical survey of the draft Bill download
The German Ministry of Finance on 20 July 2012 published the draft of a bill to implement the Directive 2011/61/EU on Alternative Investment Fund Managers into German law.
The Hong Kong Sevens: tackling seven issues in the licensing of 'regulated activities' download
Regulators across the globe have been increasingly proactive in detecting and taking action against unlicensed activities. Take the Hong Kong Securities and Futures Commission as an example.
The importance of proper service download
Applications for consent must be properly served on landlords.
The Italian anti-corruption reform — recent news download
After a lengthy approval process, on 31 October 2012, the Italian Chamber of Deputies passed a long awaited anti-corruption bill, aimed at improving transparency in the country’s public sector.
The JOBS Act: Potential benefits for foreign private issuers download
The JOBS Act eases the SEC-registered IPO process for “emerging growth companies” (EGCs) and will alter the private offering process under Rule 144A and Regulation D of the US Securities Act of 1933, as amended.
The Manx Disclosure Facility download
The Manx Disclosure Facility is a facility by which taxpayers can regularise their tax affairs in the UK by making voluntary disclosure and a limited payment in respect of their outstanding liabilities.
The new Saudi arbitration law download
On 16 April 2012, a new Saudi arbitration law was issued by Royal Decree No. M/34 and subsequently approved by the Bureau of Experts at the Council of Ministers in the Kingdom of Saudi Arabia.
The new silk road — Investing in and venturing with Middle Eastern companies download
China is finding new reasons to trade with and invest in Central Asia, the Middle East and beyond.
The politics of property: delivery of affordable homes in the UK download
England and Wales has a population of 56.2m. It is divided into 348 municipal authorities. 33 of these are in London and serve an estimated population of 8.2m. Figures regarding housing needs in London are provided individually by the municipal authorities rather than on a London wide basis.
The relevance of market expert evidence in determining whether a deal has been done download
Court considerations during Proton Energy Group SA v Public Company Orlen Lietuva [2013] EWHC (Comm).
The risks of creating guarantees electronically download
The principle of freedom to contract, as a result of which parties are entitled to form contracts without the need for the terms to be written down, is fundamental to English law.
The Securities Investment Business Law download
Mourant Ozannes focuses on the Securities Investment Business Law.
The Social Media Law Update — December 2012 download
In this issue of Socially Aware, our Burton Award-winning guide to the law and business of social media, we examine why social media marketing strategies should be concerned with clearing more than just copyrights.
The trend towards greater adoption of predictive coding download
Predictive coding, also known as automated review, represents an evolving technology that provides litigants with a computer-assisted alternative to manual review of large document sets.
The UK Financial Services Authority publishes consultation paper on implementation of AIFMD download
On 14 November 2012, the UK Financial Services Authority published the first part of its long-awaited consultation paper ‘CP 12/32 Implementation of the Alternative Investment Fund Managers Directive Part 1’.
The US Federal Rerserve's proposal and the foreign banking community download
On 14 December 2012, the Federal Reserve Board issued proposed rules implementing the enhanced prudential standards and early remediation requirements of Sections 165 and 166 of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010.
The US Federal Reserve’s proposed framework for regulation of foreign banks download
The Federal Reserve Board’s proposed implementation of Sections 165 and 166 of the Dodd-Frank Act, which require enhanced prudential standards and an early remediation regime for certain large foreign banking organisations, represents a dramatic shift in the Federal Reserve’s approach to supervising and regulating foreign banks.
The use of children in peer-to-peer marketing and as brand ambassadors download
The CAP recently published a new help note for marketers to ensure that the use of children in peer-to-peer marketing and as brand ambassadors is undertaken responsibly and in accordance with the rules in the CAP Code.
Thierry Lesage
Partner
Thomson Reuters recognises Olswang attorneys in 2013 Super Lawyers list
Olswang has announced that 28 of its attorneys have been recognised by Thomson Reuters in its 2013 London Super Lawyers and Rising Stars lists. Partner Eleni Skordaki has also been listed in the Top 50 Women in London.
Tightening the net: defamation reform download
Internet service providers have frequently been caught in the cross-fire in defamation claims, with claimants increasingly targeting them to get comments removed quickly.
Tom Vesey
Partner
Trainee profile: Amy Tregunna (Mayer Brown) download
“In my first year of university, I travelled to Hong Kong to undertake an internship at a boutique investment firm specialising in IPOs.”
Trainee profile: Emily Morton (SJ Berwin) download
“I really enjoyed the academic study of law, and wanted to be in a career that allowed me to build on that.”
Trainee profile: Fionnuala Dorrity (CMS Cameron McKenna) download
“I was attracted to law as I believed that not only would it offer an intellectually challenging career but also the opportunity to interact and work closely with other people in a variety of industries and cultures.”
Trainee profile: Giles Butcher (Macfarlanes) download
“I enjoyed my studies at university, I wanted to use my degree, and I also wanted to work in a profession that was both academic and commercial.”
Trainee profile: Jacqueline Vallat (Travers Smith) download
“The prospect of practising law in a dynamic environment with a team of motivated and highachieving people made me consider this career.”
Trainee profile: Lauras Rambinas (Ince & Co) download
“I went to university abroad and having graduated with a Master of Laws degree, I was able to teach law at two local universities. I soon realised I did not want to pursue an academic career.”
Transfer pricing country analysis: France download
This analysis of French transfer pricing issues addresses a range of topics.
Transparency International issues UK Bribery Act guidance on mergers, acquisitions and investments download
As a consequence of the entry into force of the Bribery Act 2010 on 1 July 2011, for the first time, anti-bribery due diligence has become a necessity for companies undertaking mergers, acquisitions and investments.
Traps for the unwary in disputes involving China download
‘First, do no harm’ is a fundamental precept of the medical profession. Although not often cited by lawyers, this principle should also guide us when we assist clients in legal disputes and internal investigations involving companies doing business in the People’s Republic of China.
Travers Smith Graduate Recruitment Brochure 2012–13 download
Travers Smith is looking for bold modern thinkers who want to be challenged from the start.
'Trigger events’ can prompt changes to your estate plan download
There are numerous ‘trigger events’ that may require you to make changes to your estate plan.
Two recent cases test legality of consent payments and exit consents under English law download
The global financial crisis has resulted in a number of debt restructuring transactions as a result of companies being unable to meet with their debt obligations.
UAE — key changes for joint stock companies download
This is the third briefing in Latham & Watkins’ five-part Briefing Series on the Draft UAE Commercial Companies Law.
UAE — key changes relating to mergers download
This is the fourth briefing in Latham & Watkins’ five-part Briefing Series on the Draft UAE Commercial Companies Law.
UAE investment funds regulations download
On 22 July 2012 the UAE Securities and Commodities Authority issued the much anticipated new UAE investment fund regulation.
UAE legislative update — the UAE promulgates a competition law download
The United Arab Emirates federal government has issued the long anticipated Federal Law No. 4 of 2012 on the Regulation of Competition.
UK announces proposals intended to curb executive compensation download
On 20 June 2012, the UK Secretary of State for Business, Innovation and Skills Vince Cable announced a package of proposals intended to curb executive pay.
UK anti-corruption enforcement update: civil recovery settlement with Oxford Publishing Limited download
The UK Serious Fraud Office (SFO) announced earlier this week that it had obtained a civil recovery order from the High Court requiring Oxford Publishing Limited (OPL), a whollyowned subsidiary of Oxford University Press (OUP), to pay £1,895,435, plus prosecution costs.
UK competition court awards punitive damages for the first time download
The UK Competition Appeal Tribunal has awarded compensatory and exemplary damages to the victim of an abuse of a dominant position.
UK cookie rules: are you compliant? download
The UK Information Commissioners’ Office 12-month grace period for enforcing compliance with the new cookie consent rules has now expired.
UK employment: further extension to workers’ holiday rights download
The holiday rights of workers who fall ill while on holiday, or are absent on long term sick leave, have been extended further by two recent rulings.
UK employment: how to terminate employment and exercise a payment in lieu of notice clause download
The UK Supreme Court has provided guidance about issues of importance for employers wishing to dismiss a UK employee.
UK employment: increase in employment protection awards download
The compensation limits on Tribunal awards will increase as of 1 February 2013.
UK Financial Services Authority imposes first fine for breach of Model Code download
On 14 February 2013, the FSA fined Nestor Healthcare Group £175,000 for failing to take proper steps to secure the compliance of its board members and senior executives with the share dealing provisions of the Model Code.
UK FSA review of the client money rules for insurance intermediaries download
On 28 August 2012, the UK’s Financial Services Authority published a consultation paper which includes proposals to amend the rules on how insurance firms deal with client money.
UK government announces details of binding shareholder votes on executive pay download
Earlier this year we reported on the UK government’s proposals to give shareholders of companies greater influence over executive pay through the use of binding votes.
UK government announces proposals for enhanced shareholding voting rights on executive remuneration download
The UK government has announced its proposals for the reform of executive remuneration in UK incorporated quoted companies.
UK government consults on radical proposals to promote antitrust damages actions download
The UK’s Department for Business, Innovation and Skills is seeking views on how to boost antitrust damages actions.
UK government proposal to introduce employee ownership download
The UK government is proposing to amend the Employment Rights Act 1996 to create a new type of employee, the employee-owner.
UK government publishes Enterprise and Regulatory Reform Bill download
In March 2012, the UK government announced plans to reform the competition regime, following a consultation exercise in 2011.
UK government reforms the competition regime download
In March 2011, the UK Government Department for Business, Innovation and Skills (BIS) issued a consultation entitled A competition regime for growth.
UK office of unconventional gas and oil — new fracking controls download
A new office within the Department of Energy and Climate Change has been formed to oversee the exploitation of shale gas by fracking and other types of unconventional oil and gas exploitation in the UK.
UK pension and employment law reform — 2012 and beyond download
Recent announcements by Business Secretary Vince Cable suggest that major employment reforms aimed at encouraging businesses to hire again might be implemented soon.
UK publishes consultation to promote private sector challenges to anti-competitive practices download
On 24 April 2012, the UK government published a consultation paper on methods to promote private sector challenges to anti-competitive practices in the UK.
UK Regulatory Update — Issue 4: the new competition objective download
UK Regulatory Update — Issue 4 considers the new role of the FCA as a competition watchdog (as we shall see, of sorts).
UK Regulatory Update — Issue 6: roadmap to PRA and FCA interaction download
Taylor Wessing has released issue six of its UK Regulatory Update.
UK Regulatory Update Issue 5: the threshold — business plans and parent undertakings weblink
Issue 5 of Taylor Wessing’s UK Regulatory Update considers the implications of two significant changes to the level and scope of regulation following legal cut-over.
UK Serious Fraud Office focuses on overseas corruption with Rolls-Royce investigation download
Aerospace and defence companies, foreign intermediaries and anti-corruption legislation are back in the spotlight.
UK to introduce 'class actions' in antitrust litigation download
Following a nine-month consultation process, the UK government has announced proposals for far-reaching changes to the mechanisms for seeking redress in antitrust actions.
UK to tighten B2C unfair terms rules on pricing and cancellation download
The UK law commissions are recommending fine-tuning to two aspects of the unfair terms regime.
Update regarding securitisation in China download
China issued a notice on 17 May 2012, jointly promulgated by the People’s Bank of China, the China Banking Regulatory Commission and the Ministry of Finance, re-launching its pilot securitisation programme.
Update: dispute resolution issues in Indian cross-border transactions download
In February, we disseminated a Commentary discussing challenges parties to Indian cross-border transactions face when they invoke contractual dispute resolution clauses.
Update: new EU short-selling regulation download
The European Union has adopted a new regulation on short selling and certain aspects of credit default swaps.
US and UK sign first bilateral FATCA intergovernmental agreement download
The US and the UK announced on 14 September that they have signed a bilateral agreement to improve international tax compliance and implement the information reporting and withholding tax provisions of the Foreign Account Tax Compliance Act (FATCA).
US Basel III capital proposed rules and market risk final rule: out with the old, in with the new download
Led by the Federal Reserve Board on 7 June 2012, the three federal banking agencies are proposing a broad and comprehensive revision of the regulatory capital rules applicable to all US national banks, state member and nonmember banks.
US CFTC and EU regulators provide guidance on deadlines for new swap regulations download
During the last quarter of 2012, the US Commodity Futures Trading Commission issued a series of no-action letters and other guidance regarding rules issued pursuant to the Dodd-Frank Wall Street Reform and Consumer Protection Act to address the practical application of the CFTC’s various new rulemakings.
US DoJ and SEC guidance on the Foreign Corrupt Practices Act download
For the past 10 months, the US Department of Justice and the Enforcement Division of the Securities and Exchange Commission have advised the public that they are in the process of drafting guidance for companies regarding the requirements of, and prohibitions within, the US Foreign Corrupt Practices Act.
US DoJ and SEC issue FCPA guidance download
The Department of Justice and Securities and Exchange Commission have released new guidance on the criminal and civil enforcement provisions of the Foreign Corrupt Practices Act.
US DoJ provides FCPA guidance for mergers and acquisitions download
Recently, the US Department of Justice reaffirmed its guidance as to what it views as the proper Foreign Corrupt Practices Act compliance procedures in the context of mergers and acquisitions.
US enacts further sanctions on Iran and Syria download
The recently enacted Iran Threat Reduction and Syria Human Rights Act of 2012 strengthens existing sanctions on Iran.
US Enforcement agencies issue extensive new FCPA guidance download
On 14 November 2012, the US Department of Justice and the Securities and Exchange Commission issued A Resource Guide to the US Foreign Corrupt Practices Act, which provides extensive and long-awaited guidance on the interpretation and enforcement of the FCPA.
US further expands sanctions against Iran download
On 10 August 2012, President Barack Obama signed into law the Iran Threat Reduction and Syria Human Rights Act of 2012.
US regulatory action items for investment advisers (2013) download
A new year brings not only (the potential for keeping) New Year’s resolutions, but also a new set of obligations and undertakings for many investment advisers.
US SEC approves NYSE and Nasdaq listing standards on compensation committees and advisers download
On 11 January 2013, the SEC approved the NYSE and Nasdaq listing standards, as amended, to implement the SEC’s requirement that national securities exchanges prohibit the listing of any equity security of an issuer that does not comply with the SEC’s rules regarding the independence of compensation committees and their advisers.
US Supreme Court issues major securities class action ruling download
Plaintiffs in securities fraud cases do not have to establish materiality before a class can be certified based on the ‘fraud-on-the-market’ theory.
Validity of post-acquisition restrictive covenants download
Two recent cases have considered the validity of post-acquisition covenants.
Variations and indulgence clauses — avoiding inadvertent release of guarantees weblink
A guarantor’s liability is contingent upon the underlying obligations it has guaranteed. If those underlying obligations are altered, the guarantor can be released.
VAT recovery on acquisition costs: lessons to be learned download
The Court of Appeal has rejected BAA’s claim for recovery of input tax incurred on professional fees invoiced to a company that acquired it and that subsequently became a member of its VAT group.
Vegetation clearing reforms to boost agribusiness in Queensland download
Amendments to Queensland’s Vegetation Management Act 1999 are being heralded as significant reforms that will promote new agribusiness opportunities in the far north of Queensland.
Vittorio Noseda
Equity partner
Vittorio Valieri
Equity partner
Walker Morris advises on administration order against Coventry City Football Club
Football insolvency specialists from Walker Morris have advised the operating company for Ricoh Arena on its application to the High Court to grant an administration order against Coventry City Football Club.
Walker Morris 'In Brief — March 2013' weblink
Walker Morris has released its In Brief publication for March 2013.
Walker Morris launches 19th Children's Calendar Printing Competition
Walker Morris has launched the 2013 Children’s Calendar Printing Competition, which is now in its 19th year.
Walker Morris's IP head set to discuss risk management at outsourcing conference
Walker Morris’s head of IP set to present at the Global Outsourcing Litigation Conference.
Walker Morris's real-estate group set to advise Legal Services Framework
Walker Morris has been appointed to the Government Procurement Service’s Legal Services Framework to provide real-estate advice.
Walker Morris's renewables group set to exhibit at Sustainability Live 2013
Walker Morris’s renewables, energy and resources group is set to exhibit at Sustainability Live 2013.
Wall-crossing in Hong Kong: risk management issues download
In the UK, there has recently been significant media coverage of market abuse in the context of “wall-crossing”, the process by which a securities offering is selectively pre-marketed to potential investors before the deal is publicly announced.
What the SEC and DOJ resource guide to the FCPA means for multinational companies download
After a year of waiting, the Department of Justice and Securities and Exchange Commission issued A Resource Guide to the US Foreign Corrupt Practices Act on 14 November 2012.
When can the veil of confidentiality in arbitral proceedings be pierced? download
The claimant in Westwood Shipping Lines Inc and another company v Universal Schiffartsgesellschaft MBH and another [2012] EWCH 3837 (Comm) had been a party to arbitral proceedings in which certain documents had been disclosed to it.
Winckworth Sherwood announces appointment of first apprentices
Winckworth Sherwood has appointed its first apprentices.
Work emails to spouses may not be protected by marital privilege download
Yesterday in a criminal case, United States v Hamilton, 2012 WL 6000731, the US Court of Appeals for the Fourth Circuit held that emails the defendant sent to his wife over his employer’s email system were properly admitted as evidence against him.
Workplace (e)ssentials — March 2013 weblink
King & Wood Mallesons has published its Workplace (e)ssentials for March 2013.
Yahoo, Marissa Mayer and remote working: the employment law angle download
Companies looking to ban ‘remote working’ could fall foul of employment laws.
20 Essex Street welcomes back retiring CoA judge Rix LJ
Court of Appeal (CoA) judge Lord Justice Rix has retired from the judiciary and is set to join 20 Essex Street as an arbitrator in May.
2Birds hires Asia aviation head from Virgin Atlantic
Bird & Bird has appointed former Virgin Atlantic counsel Leo Fattorini as a partner and head of its Asia aviation practice.
A BIT of bother for Cyprus
Russians with interests in Cyprus could launch legal claims over the country’s proposed bailout.
A message to you from Rudy
A slice of New York is coming to The Lawyer today, as former New York Mayor Rudy Giuliani hits our screens. Or our website at least.
A&O, CC and Linklaters among winners on Bayer panel
German pharmaceutical giant Bayer appoints a range of top firms including Allen & Overy, Clifford Chance and Linklaters to seven sub-panels.
Adapt and change
Iain Thomas witnesses the ever-changing nature of the real estate sector as he experiences some new culinary delights at Cannes
Addleshaw Goddard boosts UK with eight promotions
Addleshaw Goddard has promoted eight lawyers to partner across its UK offices in an enlarged promotions round.
Addleshaws and Nabarro call off merger talks
Addleshaw Goddard and Nabarro have called off merger talks after entering early-stage negotiations over a £280m tie-up.
After the sun sets
Just like Oscar Wilde, Bruce Dear finds he’s gone to Cannes to forget
AIG mulls reverse auction in cost-cutting Emea panel review
AIG is considering a reverse auction for law firms pitching to win places on part of its legal panel amid a review of its Emea advisers.
AIG's Bargain Hunt
Imagine, if you will, a legal episode of Bargain Hunt. In this game show, AIG will give two firms different coloured outfits to wear based on their branding, and then go on a hunt around their offices trying to track down some antique lawyers with the gravitas to stand in front of the client’s in-house team.
Akin Gump's new head puts London at firm's core
Akin Gump chairman-elect Kim Koopersmith has pledged to make the development of the firm’s London office one of her core strategies.
All aboard the property train
MIPIM remains just a dream for Bruce Dear, who is experiencing a ‘French five minutes’ on a train rather than a long drink in the Cannes sun
Anderson Strathern picks up Semple Fraser banking team
Scotland’s Anderson Strathern has hired three banking and finance lawyers from collapsed firm Semple Fraser.
Ashurst and Pinsents stick neck out for Tesco's £49m Giraffe buy
Ashurst and Pinsent Masons have advised as Tesco acquires restaurant chain Giraffe for £48.6m.
Ashurst chief faces comedy 'roast' at partnership conference
Ashurst’s partner conference in Paris took a surprise turn last week when a German partner made an impromptu speech comically maligning the firm’s leadership.
Ashurst clinches licence to open Beijing base for latest Asia step
Ashurst has received regulatory approval for its Beijing representative office, a year after the hire of partner Patrick Phua from King & Wood Mallesons.
Ashurst plans more Oz transfers as Korea launch put on shelf
Ashurst is considering sending more partners to its Australian offices for rolling periods of up to six months.
Ashurst, SNR check out as Malmaison sells to Denver private equity group
Ashurst and SNR Denton took lead roles on the sale of Malmaison and Hotel du Vin to a US private equity group.
Ashurst's Green to oversee Blakes integration following retirement
Former Ashurst senior partner Geoffrey Green is to retire after 34 years and return to London to work with the firm on integration with legacy Australian firm Blake Dawson.
Ashurst's roast chief
Partner conferences are there for all the important things: voting on mergers, strategic rethinks, rallying the crowds and getting drunk with colleagues from across the world.
Australian mid-tier firm Johnson Winter takes trio from Corrs
Australian firm Johnson Winter & Slattery (JWS) has hired three corporate partners from Corrs Chambers Westgarth’s Sydney office in a bit to broaden its cross-border M&A capability.
Baker Botts beefs up in the Middle East with Kuwait association
Baker Botts has expanded its Middle East operations by formingan alliance with the International Legal Group (ILG) of Kuwait
Baker Botts boosts disputes capability with Squire Sanders hire
Squire Sanders partner Chris Caulfield has left the firm to join the London office of Baker Botts.
Bakers holds advanced merger talks with UAE's Habib Al Mulla
Baker & McKenzie has held high-level merger talks with leading United Arab Emirates law firm Habib Al Mulla & Co.
Balfour Beatty hands Pinsents 'business as usual' work in cost-cutting drive
Balfour Beatty selects Pinsents as sole legal advisor for all its ‘business as usual’ legal work in a radical overhaul of its panel arrangements.
Barclays GC pockets £3.6m bonus as retirement nears
Barclays general counsel Mark Harding cashed in shares worth over £3.6m in what is expected to be his final bonus payout before retiring from the bank.
Bargain hunting, Scottish style
The Scots have a reputation for being keen on a bargain, and the speed with which firms have cherry-picked teams of lawyers from the wreckage of Semple Fraser has done nothing to dispel that particular stereotype.
Belgian boutique makes inaugural lateral hire with ex-White & Case partner
Belgian corporate boutique Strelia has made its first lateral hire since its foundation, picking up former White & Case corporate partner Gisèle Rosselle.
Bird & Bird re-elects management duo for three-year term
Bird & Bird has re-elected CEO David Kerr and chairman Michael Frie for a further three years.
Bird & Bird seals Danish merger as part of new growth phase
Bird & Bird confirms merger with Danish IP/IT boutique Bender von Haller Dragsted (BvHD) will go live on 1 May 2013.
Bird & Bird strikes alliance deal with Australia's Truman Hoyle
Bird & Bird has sealed a cooperation agreement with Australian TMT firm Truman Hoyle in a bid to strengthen its capacity in the Asia Pacific region.
Blackstone Chambers adds Matrix tax silk
Blackstone Chambers is to bolster its roster with the addition of Matrix Chambers’ silk Sam Grodzinski QC.
Blackstone's Eadie retained by Slaughters for SFO Tchenguiz case
Blackstone Chambers’ James Eadie QC has retained his role as lead counsel for the SFO in its defence of two multi-million pound damages claims brought by brothers Vincent and Robert Tchenguiz.
BLP confirms Collins as corporate chief as Barnes take corp fin role
Berwin Leighton Paisner (BLP) has confirmed David Collins as the firm’s new head of corporate following the appointment of incumbent John Bennett as international business partner.
BLP corporate chief Bennett to oversee global growth in new role
Longstanding Berwin Leighton Paisner (BLP) corporate head John Bennett is to step down from the role and take on a newly-created position overseeing the firm’s international expansion.
BLP delays bonus payments for equity partners
Berwin Leighton Paisner (BLP) has delayed paying out bonuses to senior equity partners as a measure of caution in the difficult market.
BLP goes travelling
Is it a bird? Is it a plane? Or is it Berwin Leighton Paisner trying to sniff out a global merger?
BLP, Morton Fraser and A&O land roles on Heathrow panel
Berwin Leighton Paisner (BLP) and Morton Fraser have won new spots on Heathrow Airport Holdings’ legal panel following a review by the company formerly known as BAA.
Bracewell names Herbies' Fox as London senior partner
Houston firm Bracewell & Giuliani has appointed Herbert Smith Freehills’ (HSF) finance partner Jason Fox as senior partner in its London office.
Brick Court silk joins Bermuda litigation boutique
Brick Court Chambers silk Mark Cran is relocating to Bermuda to join litigation and insurance-focused firm Attride-Stirling & Woloniecki as a senior counsel.
BT gains ABS licence for motor claims business
BT has been granted an ABS licence by the SRA and is launching a corporate motor claims business.
Budget 2013: Government proposes changes to LLP rules
The Government has announced plans to consult on major changes to the rules governing LLPs, with the intention of removing the presumption of self-employment and minimise the tax advantages for LLP partners.
Camerons scales back Integreon facilities management deal
Camerons is shutting down part of its facilities services arrangement with Integreon, becoming the latest in a growing number of UK firms to change elements of its relationship with the outsourcing provider.
Catching up, Cannes style
After finally making it to Cannes, Bruce Dear indulges in some R&R - MIPIM style
Chancery review
Case management is being reviewed by the Chancery division after it decided to abandon costs control measures proposed by Lord Justice Jackson.
China's Yingke expands into Milan and Brussels
China’s largest law firm by lawyer headcount Yingke has confirmed plans to expand into Milan and Brussels via local associations.
City firms should slash NQ salaries to £50,000, say recruiters
City firms should cut salaries significantly for newly qualified (NQ) lawyers if they are to halt a jobs exodus to the regions and in-house legal departments.
City firms use short-term NQ contracts to inflate retention rates
Major City firms are manipulating their retention rate figures by handing out short-term contracts, The Lawyer has learned.
Clarks Shoes hires Compass Group GC as legal chief
C&J Clark International, the company that produces Clarks Shoes, has appointed Debbie Wakeford as its group director of legal and company secretary.
Client Earth brings in Dinah Rose QC for air pollution appeal
Blackstone Chambers’ Dinah Rose QC has been instructed to lead the Supreme Court appeal today brought by Client Earth against the Government.
Clifford Chance brings Saudi ally team aboard for mixed practice launch
Clifford Chance is to establish a mixed local and foreign lawyer partnership in Saudi Arabia by transferring longstanding co-operation firm Al-Jadaan’s two-partner transactional practice into the magic circle firm.
Clifford Chance private equity chief Walker quits for Latham's City base
Clifford Chance global private equity head David Walker is set to join Latham & Watkins in a major hire for the US firm’s London office.
Clifford Chance scores role for Qatar committee on 2022 Fifa World Cup
Clifford Chance has won a trophy mandate to represent the organisational body of the 2022 World Cup in Qatar, almost two years after opening an office in the emirate.
Clifford Chance seals hire of Norton Rose's Diamond lawyer Drew
Clifford Chance has recruited Norton Rose disputes partner Dorian Drew, who acted for former Barclays CEO Bob Diamond in relation to the Libor scandal.
Clydes heads to Supreme Court to defend whistleblowing case
The country’s highest court will decide whether LLP members should be protected by whistleblowing legislation in a snowballing legal battle between firm and former partner.
Clydes hires Keoghs co-head of litigation in Manchester boost
Keoghs litigation co-head Peter Unsworth has quit the firm for rival outfit Clyde & Co, The Lawyer can reveal.
CMS and FFW battle it out for City office space
CMS Cameron McKenna and Field Fisher Waterhouse (FFW) are both vying for office space in City site Cannon Place as the two firms continue in their plans to move buildings.
Coffin Mew's social housing team goes to Capsticks
Capsticks has acquired Coffin Mew’s social housing team in a move that will enable it to compete with rivals such as Devonshires and Trowers & Hamlins.
Coller Capital expands with Slaughter and May hire
Private equity group Coller Capital has added a fourth in-house lawyer with the hire of Slaughter and May associate Giles Lawson.
Co-op latest client to ditch Cobbetts' debt recovery arm
The Co-operative Bank is the latest client to terminate its relationship with Incasso, the former debt recovery business of collapsed firm Cobbetts.
Court interpreters win £23.25 misconduct appeal
The company appointed to handle court translation services has won an appeal against a third-party costs order and a finding of serious misconduct.
Cyprus: mired in uncertainty
The Cypriot bailout could have a devastating effect on the whole of the country’s economy, including its legal services market.
DAC Beachcroft enters association with firms in Colombia and Malaysia
DAC Beachcroft has broadened its network with formal associations with Colombian firm De La Torre & Monroy and Malaysia’s Gan Partnership.
Day one in Cannes
As the annual property mega-conference gets under way, Jay Epstien shares his survival tips
Dinner-date don'ts
Janice Northover’s encounter with a monosyllabic broker lets her see why so many MIPIM attendees just don’t do dinner
Diversity is the spice of life
Where it’s the topic of discussion or the attendees’ country of origin, MIPIM is more diverse than ever, says Olaf Schmidt
DLA and Kirkland win roles on Dreams pre-pack sale to Sun Capital
DLA Piper and Kirkland & Ellis have taken the lead roles on the pre-pack administation and sale of bed retailer Dreams
DLA appoints O'Conor as new UK head
DLA Piper has named IP partner Mark O’Conor as UK managing partner after incumbent Andrew Darwin relocated to Australia to help integrate the Asia business with the rest of the firm.
DLA loses Scotland restructuring head in wake of Glasgow closure
Firm’s Scotland restructuring head eschews move to Edinburgh in favour of partnership at HBJ Gateley as DLA presses ahead with Glasgow closure.
DLA Piper hires Cleary's Sieger in coup for German corporate practice
Cleary Gottlieb Steen & Hamilton corporate partner Jürgen Sieger is moving to DLA Piper, taking up the role of German corporate head in a significant boost for the firm.
DLA Piper takes the gong at Law Rocks Los Angeles
Earlier this month a little bit of London legal market rock ‘n’ roll came to LA in the shape of the second annual Law Rocks! Los Angeles.
Dodging danger
Having braved arctic conditions to get there, Iain Thomas gets into the MIPIM spirit
DoJ criminal division chief returns to Covington
US Department of Justice (DoJ) official Lanny Breuer is to rejoin Covington & Burling in the newly created role of vice-chairman after spending four years as head of the DoJ’s criminal division.
Don’t grumble, become an ABS
Poo-poo to those who say that legal departments in local authorities are full of fuddy-duddies. Instead of bemoaning further cuts on spending, a growing number of public sector lawyers are taking a leaf out of Monty Python’s book and looking on the bright side of life.
Duane Morris enters Oman via joint venture with Al Mashaikhi
Duane Morris has planted its first flag in the Middle East by sealing an association with the Al Mashaikhi Law Firm in Muscat, Oman.
Dundas exits continue as two partners quit firm
Dundas & Wilson has received resignations from a further two partners including former managing partner candidate Colin Massie.
Dundas seals hire of 12-strong Semple Fraser team
Dundas & Wilson has confirmed the hire of 12 lawyers from collapsed firm Semple Fraser, with five joining as consultants.
Dundas, Weightmans join Semple Fraser carve-up
Dundas and Weightmans join Maclays in snapping up parts of Semple Fraser, but 62 staff from the collapsed firm will still be left out in the cold.
DWF confirms 38 job cuts following Cobbetts acquisition
DWF has confirmed that it is cutting 38 roles from its support team, with a further 21 support staff still in consultation over their futures.
DWF to lock Cobbetts partners in for two years
The Cobbetts partners who transferred to DWF when the firm went into administration at the end of January (30 January 2012) are to be locked in for two years at the firm.
Enfield terminates relationship with Cobbetts' debt recovery arm
The London Borough of Enfield has ended its relationship with the former debt recovery business of collapsed firm Cobbetts, Incasso.
Essex Court's Smouha and Shearman join Tchenguiz line-up
Shearman partner and Essex Court silk brought in to act for Robert Tchenguiz on the entrepreneur’s damages claims against the SFO.
Europe giants Fidal and Noerr report revenue rises
France’s largest law firm, Fidal, has reported a 2.5 per cent increase in revenue for the 2011/12 financial year, with turnover rising from €309.8m to €317.7m.
European moves: 21 March 2013
All the latest partner hires and other appointments within Continental European firms and offices.
European moves: 7 March 2013
All the latest partner hires and other appointments within Continental European firms and offices.
Exclusive video interview with Rudy Giuliani: we will replicate New York success in City video
Former New York mayor Rudy Giuliani outlines his firm’s plans to ape its New York growth in London.
Exclusive video interview with Rudy Giuliani: why Bracewell is coming to London video
The most high-profile partner at Houston-based energy firm Bracewell & Giuliani, former New York Mayor Rudy Giuliani, outlines his firm’s plans to grow in the UK in a video interview with The Lawyer.
Farewell Freehills
Now we don’t know about you, but the confirmation that Herbies litigation star Ted Greeno has packed his bags for US outfit Quinn Emanuel has our imaginations running wild. With his exit following the departure of eight high-level partners since June 2012, we think it’s jolly fair that we now ask the question: ...
Fasken Martineau replenishes Paris with Nixon Peabody hire
Canadian firm Fasken Martineau has hired a duo of lawyers from Nixon Peabody’s Paris office in a bid to strengthen its employment team.
FFW makes six up to partner in static promotions round
Field Fisher Waterhouse (FFW) made up six lawyers to partner, with four of the promotions coming in its London headquarters.
Field Fisher finance chief quits to take FD role at Ince
Field Fisher Waterhouse (FFW) finance team head Alan Hodgson is leaving the firm to join Ince & Co amid a rejig within the latter’s senior business team.
Field Fisher latest firm to hold back partner profits
Field Fisher Waterhouse (FFW) has confirmed it has delayed its latest quarterly payout to partners due to the firm’s “conservative” financial approach.
Former 1 Gray’s Inn Square barrister jailed for £80k tax fraud
Former 1 Gray’s Inn Square barrister Edward Agbaje has been jailed for 18 months after failing to pay more than £80,000 in tax to HM Revenue and Customs (HMRC).
Former SJ Berwin solicitor to join Dragons' Den panel
Former SJ Berwin solicitor Piers Linney will star in the upcoming series of Dragons’ Den, replacing former ‘Dragon’ Theo Paphitis on the BBC investor panel television show.
French boutique hires Fasken Paris partner
French independent LMBE Avocats has appointed Fasken Martineau partner Sylvain Beaumont as a partner in its economic law team.
Freshfields arbitration star Paulsson retires from firm
Longstanding Freshfields Bruckhaus Deringer co-arbitration chair Jan Paulsson has retired from the firm to focus on his career as an arbitrator and academic.
Freshfields' Rawlinson brought in as LSE seals revamped LCH takeover
Freshfields Bruckhaus Deringer corporate star Mark Rawlinson has been brought in to advise the London Stock Exchange (LSE) on its revised €536m (£463m) offer for a controlling stake in clearing house LCH.Clearnet.
Freshfields to merge IP and IT into corporate and disputes
Freshfields Bruckhaus Deringer is set to amalgamate its IP and IT practice into its corporate and disputes groups.
Freshfields turns to Gide for Paris property hire
Freshfields Bruckhaus Deringer has appointed Gide Loyrette Nouel partner Erwan Le Douce-Bercot as a partner in its real estate group in Paris.
Frozen farewells
As the dust settles on another MIPIM, the British weather finally seems to have arrived in Cannes, says Iain Thomas
Gibson Dunn's UK revenue falls despite global growth
Gibson Dunn & Crutcher’s UK revenue fell by 11 per cent in 2012 despite the firm posting a double-digit rise in turnover globally.
Gide corporate duo join French boutique
French corporate boutique Lacourte Balas Raquin has recruited Gide Loyrette Nouel corporate partners Serge Tatar and Renaud Rossa and is rebranding as Lacourte Raquin Tatar.
Gide trio quits firm for boutique venture
A trio of senior corporate partners from Gide Loyrette Nouel’s Paris office have teamed up with a former Gide partner to launch a new M&A boutique.
Gold joins high-profile board for global investigations firm
Former Herbert Smith senior partner David Gold has joined the board of litigation support company Proven as its chairman.
Golden goodbyes
As George Osborne’s Budget puts borrowing projections on the up and growth forecasts on the down, the payouts awarded by UK lending giant Barclays yesterday made eyes widen.
Good on all levels
It’s amazing what you can pick up while strolling up and down the Croisette, says Nick Ellis
Gordons prepares for JR over York burial for Richard III
Gordons has been instructed on potential JR proceedings by descendants of Richard III, who want the remains of the last Plantagenet king to be buried in York.
Growing pains
Despite the optimistic mood at MIPIM, Marnix Elsenaar finds that planningis still seen as an obstacle to growth for housing, commercial development and infrastructure
Herbert Smith exits pile up as disputes star Greeno quits for Quinn
Senior Herbert Smith Freehills (HSF) litigator Ted Greeno has joined the ranks of partners leaving the firm’s disputes practice by resigning to join US outfit Quinn Emanuel Urquhart & Sullivan.
Herbies names new Greater China head
Herbert Smith Freehills (HSF) has appointed Hong Kong arbitration partner Justin D’Agostino as its new managing partner for Greater China as incumbent Andrew Tortoishell retires.
Herbies prepares ground for April Seoul launch
Herbert Smith Freehills (HSF) has received final regulatory approval to open its long-planned base in Seoul.
High Court hands $2.5bn win to Hogan Lovells client BTA Bank
The High Court has handed another victory to Hogan Lovells in its ongoing legal battle for Kazakhstan’s BTA Bank against its former chairman Mukhtar Ablyazov.
Hogan Lovells blames foreign exchange for revenue and profits dip
Hogan Lovells has posted a dip of 1.9 per cent in firm-wide revenue, with management blaming exchange rates for the decrease.
Hogan Lovells shakes up management committee
Hogan Lovells has made a series of changes to the International Management Committee (IMC) with global litigation head Patrick Sherrington succeeding Crispin Rapinet as Asia and Middle East managing partner.
Howard Kennedy partners offered self-employed status in merger switch
HowardKennedyFsi has invited all its employed non-equity partners to reclassify with self-employed status in a bid to integrate partners into the business.
Howard Kennedy wins role as Blockbuster UK finds buyer
CMS, HowardKennedyFsi and White & Case advise as Blockbuster sells its UK shops to restructuring firm Gordon Brothers Europe.
Ince & Co grows in Beijing with veteran in-house hire
Ince & Co has appointed Chinese shipping veteran lawyer Guo Xu from China Ocean Shipping Group (COSCO) as a consultant in Beijing.
Insurance company Das acquires Bristol PI firm
Insurance expenses giant Das Group has completed its acquisition of Bristol personal injury firm CW Law.
Integreon's frosty reception
What is it about receptionists and Integreon? Both Osborne Clarke and now CMS Cameron McKenna are in the process of weighing up operational shifts away from the outsourcing provider that would see facilities such as their reception functions transferred to a different outsourcer.
Intellectual Property Office relaunches mediation service
The relaunch of the IP Office mediation service should be welcomed by IP rich industries.
Ireland's Byrne Wallace appeals against €17.7m claim in Supreme Court
Irish firm Byrne Wallace is set to appear in the country’s Supreme Court this week in a bid to overturn a finding of professional negligence that led to a €17.7m damages bill.
Irwin Mitchell snags former DLA Birmingham head for business team
Irwin Mitchell has signed up former DLA Piper Birmingham managing partner Chris Rawstron as head of its business legal services team in the city.
Ithaca-Valiant legal fees near £1.5m as Herbies, Pinsents erect Chinese walls
CMS and Herbies share nearly £1.5m in fees from a £203m energy takeover that saw two law firms put up Chinese walls to prevent potential conflicts.
Justice secretary: liberalised Indian market would boost UK economy
India could double the value of its legal market and provide opportunities for UK businesses if it liberalised, according to Justice Secretary Chris Grayling.
K&L Gates hires from 3RB as it beats Clifford Chance to FSA insider dealing case
US firm K&L Gates has hired 3 Raymond Buildings barrister Christine Braamskamp a year after hiring Addleshaw Goddard corporate crime chief Elizabeth Robertson.
K&L Gates' Kalis renews attack on Swiss Vereins in video interview video
K&L Gates chief Peter Kalis renews his attack on the Swiss Verein model of law firm growth, disputing whether there has been a growing “market acceptance” for the structure.
K&L Gates rebuilds Hong Kong with partner hires
K&L Gates has hired a partner each from Allen & Overy (A&O) and Orrick, Herington & Sutcliffe in Hong Kong to build up its corporate and dispute resolution practice.
Kalis calling, loud and clear
What is carnivorous behaviour in a law firm? Why are Swiss Vereins a bad bet? And how come Peter Kalis was born with two front feet?
Lambeth and Southwark legal teams consider ABS spin-off
The legal teams at neighbouring London authorities Lambeth and Southwark are considering setting up an ABS vehicle in a bid to cut their legal expenditure.
Landmark Chambers wins as HS2 rail ruling handed down
Landmark Chambers has been the big winner in the HS2 high-speed rail judicial reviews, in which judgment was handed down this morning.
Lawyers give seal of approval to Pope Francis
Lawyers are already reacting favourably to the news that Cardinal Jorge Bergoglio has been named Pope.
Leeds United scores victory against West Yorkshire Police in CoA
The Court of Appeal (CoA) has thrown out an appeal by West Yorkshire Police over its obligations to police land owned by Leeds United Football Club.
Lewis Silkin launches litigation funding panel with The Judge
Lewis Silkin has launched a litigation funding panel in a move that is expected to become increasingly common following the implementation of the Jackson reforms.
LG partner joins Abu Dhabi Investment Authority
Former Lawrence Graham (LG) technology partner Peter Brudenall has joined the Abu Dhabi Investment Authority (ADIA) in its in-house legal team.
Life after Leveson: responsible press or regulatory headache?
Will the media come to regret its reaction to the Royal Charter on press regulation?
Linklaters brings ex-Norton Rose Islamic finance star on board
Linklaters has hired KPMG global Islamic finance head Neil Miller as its new global Islamic finance head, based in Dubai.
Locke Lord boosts Hong Kong with five-partner association
US firm Locke Lord has grown its Hong Kong offering by sealing an association with Cheung & Lee, a local firm formed earlier this year by lawyers from Gide Loyrette Nouel, K&L Gates, Stephenson Harwood and Winston & Strawn.
London takes bulk of BLP partner promotions
Berwin Leighton Paisner (BLP) has promoted nine senior associates to partner across its Frankfurt, London and Moscow offices.
Macfarlanes' balancing act
In an old picture from a 2009 photoshoot for The Lawyer, Macfarlanes senior partner Charles Martin is captured standing by the window of the firm’s Cursitor Street offices with a large road marking visible just behind him. ‘Ahead only’ it proclaims, with a massive arrow pointing northwards up Furnival Street towards Holborn.
Macfarlanes eyes 'balanced' practice as shelter against deal slump
Macfarlanes is to reposition its practice by increasing the firm’s focus on advisory work, disputes and investigations, after being over-exposed to the deal market during the downturn.
Maclays snaps up team from collapsed Semple Fraser
Scottish firm Maclay Murray & Spens is hiring seven partners from Semple Fraser, which filed notice to appoint administrators earlier this week.
Magnusson fills last Baltic Sea gap with Lithuania launch
Swedish firm Magnusson has completed its coverage of the Baltic region with the launch of an office in Lithuania, bringing on board local firm Nordia Baublys.
Man Group picks new GC as hedge fund's legal chief leaves
Man Group head of legal Jasveer Singh has been appointed as the FTSE250 group’s general counsel following the exit of former Clifford Chance partner Stephen Ross.
Mayer Brown, SJB seal £152m Chinese purchase of City site
Mayer Brown and SJ Berwin have advised on a Chinese property developer’s £152m acquisition of Stephenson Harwood’s offices from Invesco Real Estate.
McDermotts picks up Fasken trio for Paris energy boost
McDermott Will & Emery has hired a three-partner team from the Paris office of Canadian firm Fasken Martineau in a bid to strengthen its African energy expertise.
Media specialists join Freshfields and CMS on global BT panel
BT has finalised a new ‘network’ of law firms to advise it around the world, with Carter-Ruck, Olswang, Sheridans and Wiggin winning spots.
Mishcon branches out into competition law with double partner hire
Mishcon de Reya has launched a competition practice after hiring partners from US firm Crowell & Moring and DLA Piper.
Nabarro's resolution
The theory goes that lawyers take a break over Christmas, come back with New Year’s resolutions and, by March, have got something in place. Hence this is the time of year that we see partners and teams move, mergers announced and clients’ deals signed.
New Milbank chair tells partners: London was highlight of 2012
Newly elected Milbank Tweed Hadley & McCloy chairman Scott Edelman listed London as a highlight of 2012 during an annual partners’ meeting.
NHSLA kicks off £400m panel review after several false starts
The tender process for the NHS Litigation Authority’s clinical negligence and non-clinical negligence legal panels has begun after several false starts.
Norton Rose issues warning shot to underperforming partners
Norton Rose has warned selected partners to improve their performance or risk being asked to leave or be moved down the lockstep.
Norton Rose takes three partner team from Corrs in Australia
Norton Rose has boosted its corporate practice in Australia with the hire of three partners from Australian firm Corrs Chambers Westgarth.
Nursing bloody noses
As news comes in that the Queen is expected to leave hospital this afternoon, another group in need of nursing right now is the Norton Rose partners being asked to improve, leave or move down the lockstep.
OC ditches Integreon deal as bulk of support team moves back in-house
Osborne Clarke (OC) is to scale back use of Integreon by transferring most of its support services back into the firm in a move that could put a small number of jobs at risk.
OC does it
Out. Not out. Out. Not out. Osborne Clarke’s inability to make up its mind over outsourcing, and specifically its deal with industry giant Integreon, has more surprises than the England cricket team’s awe-inspiring rearguard action.
Olswang promotes three to partnership
Olswang has added three lawyers into its partnership ranks, down from five in 2011 and 2012.
Opinion: The Bar Professional Training Course: overpriced and redundant
Is the BPTC fit for today’s requirements?
Osborne Clarke mourns loss of longstanding partner Andrew Gowans
Osborne Clarke (OC) is mourning the death of longstanding partner Andrew Gowans, a member of its senior management team and a central figure in the firm’s development.
Outsourcing Competitive Advantage?
By Andrew Hedley, Hedley ConsultingAndrew Hedley
Papal election puts focus on German lawyer at helm of Vatican Bank
The selection of Cardinal Jorge Bergoglio as Pope has placed the spotlight on a German lawyer appointed last month to head the embattled Vatican Bank.
Plexus Law hires Hill Dickinson insurance chief
Plexus Law, the defendant arm of ABS giant Parabis, has hired Hill Dickinson insurance chief Jason Spencer and business development director Laurence Ives.
Post-merger SA Law opens in London with plans to acquire business immigration practice
Hertfordshire-based SA Law, which merged with Pickworths to form a 15-partner firm in October, has opened an office in London in a bid to widen its doors to international work.
Pre-merger Salans reports modest revenue growth
European firm Salans has reported growth of 1.6 per cent in its final full financial year ahead of its merger with SNR Denton and Fraser Milner Casgrain.
Pre-merger SNR Denton sees global revenues fall
Global turnover at SNR Denton fell to $710.5m last year, a drop of 1.3 per cent from 2011’s global figure of $719.4m.
Promotions fall at Freshfields with 14 made up
Freshfields Bruckhaus Deringer has appointed 14 new partners in its 2013 promotion round, including six in its London office.
QBD names successor to retiring libel judge Eady J
Former Paradise Chambers silk HHJ Jeremy Baker QC has been appointed to the Queen’s Bench Division (QBD) to succeed Mr Justice Eady, who retires later this month.
Racine merges with three-partner Réunion firm
French independent Racine has launched its first overseas office, merging with Akhoun-Rajabaly-Affejee & Associés on the Indian Ocean island of Réunion.
Raising court fees would be a bad move
Justice minister Chis Grayling has hinted that foreign litigants will have to pay more to use UK courts than domestic litigants, but Jeremy Winter isn’t sure this is a good idea
Reed Smith-BPP LPC available to all from September
A legal and business postgraduate qualification launched by Reed Smith and BPP last year is to be made available on the open market from this September.
Riverview adds to barrister roster with Francis Taylor licensing team
Riverview Chambers is to break into the licensing market after adding a team of eight barristers from Francis Taylor Buildings to its roster.
Road to recovery
Lawyers from Germany, London and Paris may be having difficulty getting to MIPIM, but those who have made it are experiencing positive vibes, says Orson Alcocer
RPC boosts corporate group with SJ Berwin hire
RPC has made a further addition to its corporate practice with the hire of SJ Berwin partner Anthony Shatz.
Saudi princes refused diplomatic immunity by Vos J
Mr Justice Vos has refused two Saudi princes permission to use diplomatic immunity to avoid a costly court battle in London’s High Court.
Schillings becomes latest firm to gain ABS licence
Media boutique Schillings has been awarded two ABS licences by the SRA, bringing the total number of firms on the ABS register to 100.
Schillings sports star John Kelly quits for Harbottle & Lewis
Schillings sports and international head John Kelly, who has acted for a host of celebrity clients including scandal-hit cyclist Lance Armstrong and former England manager Steve McClaren, has quit the firm for Harbottle & Lewis.
Semple Fraser calls in administrators as Maclays, Dundas, Weightmans circle
Semple Fraser is understood to have issued a notice to appoint administrators a day after The Lawyer reported that its separate offices were looking for rescue mergers (5 March 2013).
Semple Fraser kicks off strategy review 'for the future of the firm'
Scotland’s Semple Fraser has begun a dramatic firm-wide strategy review amid claims that its three offices are discussing separate merger deals.
Semple Fraser nominates RSM Tenon as administrator
Scottish firm Semple Fraser has nominated RSM Tenon as its administrator, following management’s decision to seek protection from creditors earlier this week.
Shearman cuts six lawyers from Hong Kong base
Shearman & Sterling has made six lawyers redundant in Hong Kong, as the US firm continues to adjust its Greater China team in response to the capital markets slowdown.
Shell to axe global panel as adviser review nears closure
Royal Dutch Shell is set to scrap its global legal panel in favour of individual relationships with firms in different countries.
Shoosmiths promotes six to partner across national network
Shoosmiths has made up six lawyers to partner in its annual promotions round, covering employment, litigation, corporate, regulatory and real estate.
Sidley hires first Singapore-qualified partner from Clifford Chance
Sidley Austin has appointed its first Singapore-qualified partner, a month after being granted a licence to practise local law in the jurisdiction.
Simpson Thacher puts corporate partner into chairman seat
Simpson Thacher & Bartlett has elected partner William Dougherty as chairman of the firm, taking over from incumbent Pete Ruegger who has been in the lead role since 2004.
SJ Berwin launches capital consultation with partners
SJ Berwin is consulting with partners about the firm’s capital structure in a process that could lead to it altering its capital requirements from members.
Slater & Gordon launches specialist crime teams
Slater & Gordon breaks business crime and regulation practice in two, focusing on fraud, corruption and bribery cases, and regulatory investigations.
Slaughters favours disputes and competition in two-strong promos round
Slaughter and May has made up two associates to partner in this year’s promotions round, with two London lawyers making the cut.
Slaughters grows FTSE 250 lead with key client additions
Slaughter and May has extended its lead at the top of the FTSE 250 client rankings for the first quarter of 2013 in a market that has seen little change at the top end.
Slaughters' Japanese best friend to open in Singapore and Shanghai
One of Japan’s largest law firms, Anderson Mori & Tomotsune, is to add three new offices, in Singapore, Shanghai and the Japanese city of Nagoya.
Socialising in the sunshine
As MIPIM gets into gear Jim Bauwens gets caught up in the social whirl and even ponders a midnight dip in the sea
Southwark Crown Court convicts false lawyer Di Stefano
An Italian businessman who posed as a lawyer for eight years has been convicted of 25 charges including deception, fraud, money laundering and using a false instrument at Southwark Crown Court today.
Spain's Uría Menéndez reports declining turnover
Slaughters’ best friend announces 4.5 per cent fall in turnover for 2012, with revenues declining from €188.8m in 2011 to €180.2m.
Speechly Bircham and Withers confirm merger talks
Speechly Bircham and Withers have confirmed that they are in the early stages of discussions over a merger that would create a new top-25 UK firm.
Speechlys and Withers in talks over £170m merger
Speechly Bircham and Withers are in merger talks in a bid to create a £170m City firm of roughly 500 lawyers.
Squire Sanders makes up four UK partners
Squire Sanders has made up eight new partners in its annual round of promotions, half of whom are in the UK.
Stewarts launches RBS rights-issue claim for shareholders
Litigation firm Stewarts Law has filed a High Court claim against RBS in an action relating to the bank’s April 2008 rights issue.
Stibbe picks up White & Case duo for corporate push
Benelux firm Stibbe has hired two partners from White & Case’s Brussels office in a boost for the firm’s corporate and private equity team.
Stone Chambers to enter Singapore
Stone Chambers will be the latest London set to expand into Singapore, as the city-state’s position as a regional disputes resolution hub strengths.
Students digging deep
What would it take to make prospective barristers riot? You would have thought an 11 per cent rise in the BPTC fee might just do it. When faced with rising tuition fees, or pretty much anything that fails to tickle their fancy, the general
Supreme Court has jurisdiction to consider secret ruling
The Supreme Court has jurisdiction to deliver a ruling in a case based upon evidence that was given behind closed doors, it was decided this week (19 March).
Take five
Janice Northover gets into the swing of her first-ever MIPIM, but finds the party pace a little too much for her diary to cope with
Tax star Aaronson teams up with senior litigators for boutique launch
Top tax silk Graham Aaronson QC has joined forces with former One Essex Court barrister Joe Hage to launch a litigation boutique for ultra high value disputes.
Taylor Wessing rejigs German management
Taylor Wessing’s German head Wolfgang Rehmann is stepping down, over a decade after leading Wessing into a merger with Taylor Joynson Garrett.
Tesco appoints China legal director after year-long hiatus
Tesco has installed a permanent legal director for China following a year-long vacancy period.
The challenges ahead: the new Pope and the law
As the white smoke clears above the Vatican the new Pope faces a monumental task, especially if he is to rid the Catholic Church of the horrors of child abuse, says Peter Smith
The price of admission
Bad news if you’re a trainee. By the time you qualify you might not be trousering quite as many sponds as you’d hoped.
Three women feature as CoA makes up 10 justices
The Goverment has appointed Mrs Justices Gloster, Macur and Sharp to the Court of Appeal (CoA) along with seven other High Court judges.
Top general counsel to converge on Lisbon for The Lawyer In-house Strategy Summit
More than 85 senior in-house counsel with a combined spend of at least £350m will meet in Lisbon later next month for the annual The Lawyer In-house Strategy Summit, the leading general counsel forum for discussion of business law issues.
Trainees' two-month itch
The job market stinks and we know it. Even for those ‘tick all the boxes’ law graduates fortunate enough to win a training contract – the holy grail for would-be solicitors – bad news keeps tumbling in.
Transatlantic firms fare best at retention, research shows
US firms are worse than UK firms at holding on to lateral partner hires but in-house lawyers that move to private practice partnership fare the worst, new research shows.
Trowers appoints new Abu Dhabi managing partner
Trowers & Hamlins has appointed a new managing partner for its Abu Dhabi office following the January retirement of longstanding office head Andrew Rae.
University of Law to train first Hong Kong solicitor-advocates
The University of Law will train solicitors in Hong Kong to represent clients in court.
US firm McGuireWoods signs Saudi cooperation deal
US firm McGuireWoods has signed a cooperation agreement with Saudi Arabian outfit the Law Firm of Badr Alarishi.
US firm McKenna Long chooses Seoul for first Asia launch
US firm McKenna Long & Aldridge (MLA) has opened a base in South Korea, its first Asia office.
View of the Vatican
The Catholic church and the legal profession have more than a few things in common. Both are ancient, slow to change and sometimes require senior members to wear ridiculous costumes. Oh, and both have a fondness for latin, though that probably harks back to the fact that both are a bit ancient.
Walmart selects White & Case partner as Central America GC
Walmart has hired White & Case partner Alberto Sepúlveda Cosío as its Central American legal head.
Weil UK arm smashes $100m mark with 22 per cent revenue rise
Weil Gotshal & Manges has posted a 21.6 per cent increase in London office revenue for the 2012 financial year.
What does a lawyer get out of MIPIM?
As he heads for home Bruce Dear reflects on the value of attending MIPIM
When it comes to your career only one thing matters: passion
Mark Brandon
White & Case opens in Madrid with Latham hires
White & Case has become the first international law firm to launch a Spanish office for several years, hiring Latham & Watkins’ local corporate head Juan Manuel de Remedios to open in Madrid.
Winston launches in Brussels eight months after Dewey hires
Winston & Strawn is set to launch in Brussels off the back of last year’s hires from collapsed Dewey & LeBoeuf (10 May 2012).
Withers reports UK turnover and profit rise for 2011/12
Withers’ UK LLP accounts have shown a rise in both profit and revenue for the 2011/12 financial year, as well as a £2.4m increase in bank loans.
Withers says buon giorno to Speechlys
You can hear the BlackBerrys going off all the way from London. Withers partners are currently living it up (read: working extremely hard) at their partnership retreat in Italy, but we know what they’ll all be muttering about while pretending to discuss associate engagement and the values of cross-selling.
Wragges makes up two to partner
Wragge & Co has promoted two lawyers to its partnership, one fewer than last year.
Wright Hassall joins list of firms to gain ABS licence
Midlands-based Wright Hassall is the latest firm to be granted an ABS licence, as the number of organisations moving away from traditional legal services structures continues to grow.
