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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Ward Hadaway breaks £400k PEP barrier

Newcastle-based Ward Hadaway has announced a 10 per cent improvement in average profit per equity partner (PEP) and a 16 per cent increase in turnover for the last financial year. The firm has reported a PEP of £405,000, and turnover of £25m for the year marking another strong year for the firm, which has reported […]

White-collar crime

White-collar work crime has seen a raft of changes in recent months. A year on from its establishment, the Serious Organised Crime Agency (Soca) – regarded as the UK’s answer to the US Federal Bureau of Investigation – has started to prove that it is a powerful new weapon to target white-collar criminals and the […]

Taylor Wessing chief targets second term

Taylor Wessing chief targets second term” />The UK arm of Taylow Wessing is gearing up for a managing partner election, and incumbent Michael Frawley has indicated that he will stand for another year. In previous years managing partner elections have taken place in July. Frawley’s three-year term ends in October and it had been widely […]

Rowe Cohen pair create PI boutique

Two former Rowe Cohen partners have left the firm to launch a specialist personal injury (PI) practice. •Two former Rowe Cohen partners have left the firm to launch a specialist personal injury (PI) practice. Partners Jonathan Dwek and Andrew Farley are confident that their firm, Farley Dwek, which launched in April, will earn a fee […]

Relocation costs LG dearly as PEP dives

LG, the firm formerly known as Lawrence Graham, has become one of the few firms in the City to post flat revenue growth and a reduced profit for 2006-07. Turnover at LG remained static at £66m, while average profit per equity partner dropped by 7.5 per cent, from £465,000 to £430,000. LG managing partner Penny […]

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