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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Casualties of Law

The abolition of legal aid and the incorporation of the Human Rights Act into English law have changed the way the legal profession deals with personal injury and clinical negligence cases, writes Fenella Quinn The past couple of years have seen major changes in clinical negligence and personal injury. The largest, of course, is the […]

Financings

Lovells in Hong Kong represented a syndicate of four banks which underwrote a $12bn (£7.6bn) acquisition financing loan for Pacific Century Cyberworks to take over Cable & Wireless HKT. The syndicate was made up of HSBC Investment Bank Asia

White & Case hires World Bank lawyer

US firm White & Case is taking on the former deputy general counsel of the World Bank as a member of its Middle East practice group. Daoud Khairallah is joining as of counsel in the firm’s Washington DC office – advising clients that include financial institutions, governments and companies. Khairallah says: “When I left the […]

Rollit Farrell appoints new senior partner

Rollit Farrell & Bladon has appointed James Brennand as a new senior partner, replacing Michael Scanlan after his eight-year term in the role. Brennand, who joined the 33-partner Hull-based firm in September 1959 as an articled clerk and was admitted as a partner in 1967, takes up his new post on 1 May. For the […]

Hays

When company secretary and solicitor Stephen Charnock joined Hays in 1991, it was at just the right time.The distribution and support services group floated in 1989. But on the launch day of the initial public offering, the Chancellor of the Exchequer resigned, causing the markets to oscillate wildly. Three years after the flotation, Hays put […]

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