Clifford Chance slashes US bonus

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Latest Briefings

India: The age of telephony has arrived

On 19 June 2018, the Department of Telecommunications, Government of India (DoT) finally provided its nod to several key recommendations (Recommendations) made by the Telecom Regulatory Authority of India (TRAI) on the Regulatory Framework for Internet Telephony in October 2017. DoT has released a clarification (Clarification) and certain amendments to existing licenses (Amendment), both of […]

Claims management companies: The new regulatory regime

Walker Morris Banking Litigation partners Louise Power and Rob Aberdein explain the new regulatory regime and the Financial Conduct Authority’s proposals for changes to the regulation of claims management companies across England, Wales and Scotland…

Adjudication Matters – July 2018

The Courts have re-affirmed that, despite a contract containing an express right of set-off, it is only in exceptional circumstances that a party will be entitled to set-off another claim against an Adjudicator’s award. This case serves as a helpful reminder that a right to set-off is unlikely to apply to an Adjudicator’s decision. The […]

Two EU regulations on UCITS/AIFMD asset segregation requirements for depositaries upon delegation

On 12 July 2018, the European Commission adopted two delegated regulations supplementing the Alternative Investment Fund Managers Directive (AIFMD) and the Undertaking for Collective Investment in Transferable Securities Directive (UCITS) on the safekeeping of assets by depositaries and their delegates. Their main purpose is to eliminate discrepancies among different national regulations. The following aspects will […]

Sleeping time is not working time says Court of Appeal

By Siobhan Fitzgerald The social care sector is breathing a sigh of relief after the Court of Appeal in Royal Mencap Society v Tomlinson-Blake reversed previous cases and decided that only time spent awake and working should be counted as working time for the purposes of calculating the national minimum wage.

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Browne: costs pose threat to legal representation

The increasing cost of legal action and the curbing of public funding could threaten the quality of legal representation, in-coming Bar Council chair Desmond Browne QC has warned. Browne, who is joint head of chambers at 5 Raymond Buildings, said at his inaugural speech this afternoon that, with the “fabric” of society under severe financial […]

Linklaters’ top earner pocketed £3.4m last year

Linklaters‘ top earner pocketed £3.4m last year” />Linklaters’ highest paid partner received £3.4m in the last financial year, according to the magic circle firm’s first set of LLP accounts. This partner received more than double the firm’s average profit per equity partner (PEP), which in the 2007-08 financial year stood at £1.44m, and nearly twice […]

High cost of ATE claims pushes CFAs to brink of extinction

The conditional fee arrangement (CFA) model is at risk of collapse due to the high level of litigation relating to after-the-event (ATE) insurance premiums. A Civil Justice Council (CJC) report has found that the cost of launching legal challenges to ATE costs and success fees often exceeds the cost of the original ­litigation, creating a […]

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Critics snipe at third-party litigation funding code

The proposed regulation of third-party litigation funders has come under fire for failing to bring full transparency to the sector. A draft code of conduct seen by The Lawyer stipulates that the assets of members of the proposed Third Party Litigation Funders Association should exceed liabilities, and that the ultimate parent company be a regulated […]

2Birds’ Singapore tie-up points to future merger

Bird & Bird’s newly formed association with Singapore firm Alban Tay Mahtani & de Silva (ATMD) has been established as a precursor to a full-blown merger. Bird ;& ;Bird’s ;newly formed association with Singapore firm Alban Tay Mahtani & de Silva (ATMD) has been established as a precursor to a full-blown merger. The alliance, which is due to […]

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