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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‘Open justice’ wins as DCA rewrites claim access rules

Media lawyers have forced the Department for Constitutional Affairs (DCA) into a U-turn over the introduction of a controversial rule that restricted the public’s access to court documents. A new rule, which comes into effect today (2 October), gives the media and members of the public access to documents such as pleadings and defence of […]

Pro bono is vital for lawyers establishing rule of law overseas

There are many things we take for granted in the UK. Ironically, one of the most overlooked is also one of the most fundamental – the rule of law. We expect – and rightly so – the absence of corruption, an independent, impartial judiciary, the presumption of innocence, the right to a fair and public […]

Watson Burton confirms ousted MP’s successor

Newcastle-based firm Watson Burton has elected construction head Rob Langley to replace toppled managing partner Andrew Hoyle. As first reported on www.thelawyer.com (September 26), Hoyle was ousted by the partnership last month following internal rows about the direction of the firm. As predicted in The Lawyer (October 2), Langley will take the reigns of the […]

US firms line up for tobacco class action

A host of US firms are preparing for battle after a New York judge ruled that a groundbreaking $200bn (£105bn) class action against tobacco firms could go ahead. The case was first filed by Cohen Milstein Hausfeld & Toll in May 2004, against Philip Morris, RJ Reynolds, British American Tobacco (BAT), Liggett Group, Brown & […]

Zurich chops UK panel by 80 per cent

Zurich has slashed its UK legal panel from over 25 firms to just five after an extensive review of its legal provision. Beachcroft, Bevan Brittan, Pinsent Masons, Shoosmiths and Gloucester firm Tanners are the successful firms, appointed after a competitive tender process. Zurich’s UK general counsel James Butler said the new panel would enable the […]

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