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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Addleshaws predicts £400K PEP for 2004-05

Addleshaw Goddard is predicting an average profit per equity partner (PEP) of £400,000 after the firm posted a 13 per cent increase in turnover in the first half of the year. During the last full financial year, Addleshaws’ PEP after exceptional merger costs was £302,000 (the PEP before exceptional costs stood at £321,000). As first […]

Eversheds puts Midlands offices in one basket

Eversheds has announced plans to consolidate its Midlands offices under one management team following a similar process instituted in the North and South. Birmingham, Cardiff and Nottingham will operate under one banner, the central region, and with one management team from 1 May 2005. Managing partner David Gray said the restructuring means the firm will […]

Shaw Pittman London ripped apart by MoFo raid

Morrison & Foerster (MoFo) has raided Shaw Pittman’s London office by taking its three remaining partners including outsourcing star Alistair Maughan. Shaw Pittman’s London managing partner Maughan is joining MoFo together with outsourcing and technology partners David Skinner and Andrew Smith. MoFo has added an excellent outsourcing team to its burgeoning London office following up […]

A&O back in the frame for Baugur

Allen & Overy (A&O) has won back Baugur after scooping an instruction to advise the Icelandic retail investor on a key deal. The magic circle firm is advising Baugur on a possible offer for the Big Food Group (BFG), which owns the Iceland chain and the Booker cash-and-carry business. A&O had an exclusive relationship with […]

Ex-Primus counsel takes up ADB legal role

Primus Telecommunications’ former European general counsel Ashraf Mohammed has resurfaced at the Asian Development Bank (ADB). Mohammed, who left Primus last December after being made redundant (The Lawyer, 15 December 2004) is joining ADB’s 25-strong legal function as a counsel. He will be starting his new role, based in the Philippines, on Wednesday 1 December. […]

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