Firm economics for the magic circle

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Latest Briefings

Update on EC proposals to amend UCITS, AIFMD, EuVECA and ELTIF to facilitate cross-border distribution

On 12 March 2018, the European Commission issued a proposal for a new regulation (the Regulation) and a new directive (the Directive) concerning the cross-border distribution of collective investment funds amending inter alia UCITS (the UCITS Directive), AIFMD, EuVECA and EuSEF (the Proposals). Please find below a summary of the main changes under the Proposals. What will change under the Proposals?

MEES: What information is required to register an exemption?

By Maria Connolly Since 1 April, it has been unlawful for a landlord to let a property with an EPC rating of below E, unless an exemption has been registered on the PRS Exemptions Register. The government has released guidance on the evidence required to register an exemption on the PRS Exemptions Register…

Getting the Deal Through: Fund Management 2018, Luxembourg edition

Fund Management traces the regulatory and legislative obligations facing fund managers balancing the need to maximise investment returns whilst also ensuring adequate investor protections in an increasingly challenging regulatory environment. Topics are written by leading experts and include: authorities responsible for fund regulation; licensing processes; territorial scope of regulation; required authorisations of fund marketing activities; […]

Financial Regulatory News Updates – April 2018

The Financial Regulatory News Updates: an overview in which Loyens & Loeff’s Banking and Finance Practice Group highlights recent legislative developments and publications of supervisory authorities in the financial markets…

Dutch coal exit proposed by new draft bill

On 19 May 2018 the Minister of Economic Affairs and Climate Policy (hereinafter: ‘the Minister’) published its draft bill (in Dutch only) on the Prohibition of the use of coal by power producers for public consultation (hereinafter: ‘the draft bill’). The basis of the draft bill derives from international (the Paris Agreement in 2015) and national (the […]

Recommended

David Childs

Clifford Chance posts 25 per cent PEP uplift

Clifford Chance has boosted its average profit per equity partner (PEP) figure by 25 per cent in the past financial year, posting what managing partner David Childs described as a “strong set of results in difficult market conditions”. Total revenue at the magic circle firm was £1.2bn for 2009-10, a 5 per cent decline against […]

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Lovells posts turnover rise in last year as unmerged firm

Hogan Lovells legacy firm Lovells saw a marginal increase in turnover in the 2009-10 financial year. Revenues rose 2 per cent to £542m, up from £531m in the 2008-09 financial year. Lovells merged with US firm Hogan & Hartson on 1 May. When its 2009-10 turnover figure is added to Hogan’s 2009 figure the merged […]

A&O turns to Allens Arthur for Aussie partner hire

Allen & Overy has hired an energy partner for its Australian operation, the 19th partner for its fledgling offices in Perth and Sydney. Angus Jones, whose practice focuses on liquefied natural gas, renewable energy and mining projects, joins the Perth office from national firm Allens Arthur Robinson. A&O Perth managing parter Geoff Simpson said: “The […]

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Every silver lining…

You might be forgiven for thinking that the worst of the recession is over, given some of the rebounds in financials we’ve seen this year. Most notably, there’s been a remarkable improvement in the fortunes of three firms that had been faltering badly: LG increased net profit by 81 per cent; Denton Wilde Sapte (DWS) […]

Beginning to CC the light

Another day, another set of magic circle financial results to interpret. This time it’s the good people of Clifford Chance who take centre stage (see story). The headline figure, as no doubt trumpeted loud and proud from the rooftops around Canary Wharf this afternoon, is a 25 per cent hike in PEP. Turnover is still […]

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