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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Top Universal lawyer takes up with Clintons

Lucinda Williams, one of Vivendi Universal’s top lawyers and director of legal and business affairs at Universal Pictures, has stepped down to join Clintons, her main external legal adviser.

The Leader Column

The concern focuses on whether the wording of the FSMA successfully separates transactional legal advice from investment business, leading many to question whether or not – in the usual course of negotiations for clients – they are carrying out investment business. Most argue that they are not, but some are not so sure.Those who believe […]

Woolf cost regimes 'should be scrapped'

A special meeting in Northamptonshire hosted by the Civil Justice Council will hear proposals for the scrapping of the costs regime set up by Lord Woolf. The council, the watchdog of the civil justice system, is chaired by Lord Phillips, who is keen for the Lord Chancellor to find a solution to the dual problems […]

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