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Latest Briefings

Significant Beneficial Ownership: MCA Releases Amended Rules

On 8 February 2019, the Ministry of Corporate Affairs (MCA) released the Companies (Significant Beneficial Owners) Amendment Rules, 2019 (New SBO Rules) to revise and amend the Companies (Significant Beneficial Owners), 2018 (Old SBO Rules). The New SBO Rules have once again kick-started the process of requiring significant beneficial owners to start the reporting procedures. […]

Bermuda’s beneficial ownership registers and privacy: status update and further observations

Bermuda companies, limited liability companies and partnerships have until 30 April 2019 to update or verify beneficial ownership information under Bermuda’s ‘beneficial ownership legislation’. Bermuda’s central register of beneficial ownership information is held on the Bermuda Monetary Authority’s (BMA) “Integra portal”, a secure online registration and filing system. Currently, under Bermuda law, the information on […]

Trusts vs. Foundations: What are the deciding factors?

Trusts have been around for a long time. Their use in the context of succession and wealth planning as well as philanthropy is well established. Foundations, on the other hand, are relatively new (certainly to common law jurisdictions such as Jersey) and as a result there are fewer of them. However, they are being increasingly […]

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Hammonds partners face informal 14-month lock-in

Hammonds is considering asking partners to commit to an informal 14-month lock-in in an attempt to stem the tide of departures from the firm. The Lawyer understands that the move is under discussion following a recent wave of departures from the firm. A total of 12 partners have announced their resignations since 1 January this […]

Jones Day joins $1bn turnover club

Jones Day‘s 2004 fee income has jumped by 5 per cent to $1.03bn (£540m), making it the latest US firm to smash the $1bn turnover ceiling. Average profit per equity partner also increased by 5 per cent from $923,000 (£483,000) to $969,000 (£507,000). Meanwhile, last month, Jones Day’s London office suffered the loss of another […]

Pillsbury-Shaw Pittman merger offloads litigation team to Hunton

Merging US firms Pillsbury Winthrop and Shaw Pittman have made their first bold moves to transfer unwanted practices, sending a 20-lawyer insurance litigation team to Hunton & Williams and three aviation lawyers to Hogan & Hartson Merging US firms Pillsbury Winthrop and Shaw Pittman have made their first bold moves to transfer unwanted practices, sending a 20-lawyer […]

A&O corporate team sent home after Canary Wharf plan flops

Allen & Overy (A&O) has recalled its entire Canary Wharf-based corporate team after what one source called a “failed experiment” in building corporate relationships with Canary Wharf’s investment banks. Eight corporate partners and around 40 other staff are vacating a floor at Canary Wharf and returning to New Change. In their place, the firm’s entire […]

Post-merger DLA plummets in ‘best firm to work for’ list

DLA has sunk 53 places in The Sunday Times 100 Best Companies to Work For list. DLA has sunk 53 places in The Sunday Times 100 Best Companies to Work For list. DLA was one of the highest ranked law firms at 35 in 2004, but the now-merged DLA Piper Rudnick Gray Cary languishes at […]

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