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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Third World to seek private lawyers' expertise on WTO

Private lawyers are set to play a much more important role in representing developing countries which are bringing cases before the World Trade Organisation (WTO), a leading Canadian trade lawyer has predicted. Simon Potter, of Canadian firm Ogilvy Renault, told a meeting on the WTO that an increasing tendency for smaller countries to bring cases […]

Dibbs in £150m Lloyd's victory

Dibb Lupton Alsop is ready to recover £150m from 500 refusenik Lloyd’s Names following a Court of Appeal victory last month. The 500 Names had applied for leave to appeal an earlier High Court ruling that they owed Lloyd’s £150m. But the Appeal Court refused leave to appeal at the end of last month and […]

In brief: Image and focus change on Paisners' agenda

City firm Paisner & Co has appointed communications consultancy Fishburn Hedges to help build the firm’s profile and reposition it in the marketplace. Announcing the appointment, senior partner Harold Paisner said: “We want potential clients and recruits to have a better understanding of the core of our business, which is corporate, property and litigation work […]

Japan Bar backs govt arbitration initiative

THE JAPANESE Bar is set to swing behind a government initiative to establish an international commercial arbitration centre in Japan. Akira Kawamura, of leading Tokyo firm Anderson Mori, told delegates at the ABA conference that the Japanese legal profession was making a concerted effort to put arbitration on the map in Japan. He said that […]

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