Latest Briefings

New legislative regime for virtual asset service providers

The Virtual Asset (Service Providers) Law, 2020 was gazetted on 25 May 2020 and will come into force upon issue of a commencement order in due course. The Law represents Cayman’s first legal framework for the registration, licensing and supervision of virtual asset service providers conducting business in the Cayman Islands.

Dishonesty: A change of approach

On 29th April 2020, following the decision in the case of R v Barton and Booth [2020] EWCA Crim 575, the Court of Appeal identified that the two-limb test for dishonesty as identified in the case Ghosh, is no longer the approach to be taken.

Cybersecurity requirements for licensees

Entities regulated under the Insurance Law will need to implement cybersecurity measures in proportion to their cyber risk profile by 27 November 2020 following the release of the Rule and Statement of Guidance on Cybersecurity for Regulated Entities by the Cayman Islands Monetary Authority on 27 May 2020.

Wirecard – has the German financial regulator lost its immunity?

The German regulator BaFin is being sued for abuse of authority following one of the biggest fraud scandals of the decade with German payment processor, Wirecard AG, filing for insolvency owing €3.5bn and its chief executive arrested on suspicion of accounting fraud and market manipulation. This article explores the situation and considers the need for change.

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Milbank’s Latin losses

How about this for a trend reversal? Dewey has just raided Milbank for a bunch of four partners, including heavyweight Michael Fitzgerald (see story). Over the past few months, thanks to its record year financially in 2010, Milbank has been hiring lawyers like Premier League footballers hiring superinjunction specialists. For once, the direction is the […]

Take That: highlight my fire

Tulkinghorn: There’s a plaice for us…

There always seemed to be something fishy about SJ Berwin’s managing partner election last autumn, and now ­Tulkinghorn can reveal what it was. Rob Day, elected in October after trailing in the first round of voting, used flagrant blackmail to batter his chances of ­eventual ­triumph by ­putting fish and chips at partner ­conferences at […]

Yvonne Gallagher
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Shoesmith won’t stop companies taking quick action

Employers could be forgiven for being confused by press coverage of the Court of Appeal’s (CoA) decision on the claim by Sharon Shoesmith, the former director of children’s services at Haringey Council. While the media has speculated about ­compensation running into seven figures, employers will be aware that there is an upper limit to what […]

Former Brobeck chairman Snow settles on Cooley

Cooley has hired Tower Snow, the US securities specialist and former Brobeck chairman who spearheaded Clifford Chance’s ill-fated West Coast expansion. Snow joins Cooley as a securities litigation partner in San Francisco from Howard Rice Nemerovski Canady Falk & Rabkin, where he was a director. Snow joined Clifford Chance from Brobeck Phleger & Harrison (where […]

Ex-Ashurst partner Kendall becomes CEO at investment house

Former Ashurst finance partner Richard Kendall has been appointed CEO of Glendevon King Asset Management (GKAM). Kendall joined GKAM in February 2010 as general counsel and later director of the fixed income boutique based in London, Guernsey and Luxembourg. He will continue to take responsibility for the company’s legal side as part of the central […]

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