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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ABN Amro wins permission to sell LaSalle

The Dutch Supreme Court has ruled that Dutch bank ABN Amro does not require shareholder approval to sell US arm LaSalle to Bank of America (BoA). The ruling pushes Barclays one step further to having its $80bn (£39.37bn) bid to acquire ABN Amro accepted. Earlier this year (3 May) The Lawyer reported that Dutch investor […]

A&O, CC drive Anglo-Polish banking partnership

Allen & Overy (A&O) and Clifford Chance have scored lead roles on an innovative tie-up of the Polish and British banking sectors. A&O was lead adviser to PKO Bank Polski and Clifford Chance advised NatWest in the banks’ plan to partner up and corner the million-plus immigrant Polish community resident in the UK. At A&O, […]

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LG: Penny Francis

LG’s partner profits fell last year. So can new offices, a new name and a new international strategy help the firm regain some momentum? When LG (formerly Lawrence Graham) announced in June a flat revenue of £66m and a drop in average profit per equity partner (PEP) from £465,000 to £445,000 for the 2006-07 financial […]

Microsoft shakes up legal team

Microsoft UK has restructured its legal department, promoting commercial lawyer Dervish Tayyip to manage the legal group. Tayyip replaces Chris Parker, who has been promoted to senior director for law and corporate affairs in the UK. Before starting his new role, Tayyip managed the legal support for Microsoft’s services business across Europe, the Middle East […]

Home Depot nabs Staples GC

US company Home Depot has hired former Staples general counsel Jack VanWoerkom as its new executive vice-president, general counsel and corporate secretary. VanWoerkom, who will be based at the company’s Atlanta headquarters, left his role as general counsel and corporate secretary at Staples in June to fill the post after general counsel Frank Fernandez stepped […]

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