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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Eversheds expands in Newcastle

Eversheds’ Newcastle office is bolstering its banking department with the addition of a partner from rival firm Robert Muckle. Nick On, a partner in both banking and IT/IP at Robert Muckle, is leaving the firm after seven years and is serving a three-month notice period. He will join Eversheds in August. Ian Gilthorpe, managing partner […]

Edge Ellison ditches lockstep for performance-based pay

Edge Ellison has moved away from lockstep by introducing incentive-based pay for equity partners. The complex system of assessment seeks to reward both ability and performance, says new managing partner Simon Ramshaw. He describes the new system as scientific, rigorous and exacting. “A percentage of partners’ remuneration will be determined by performance in the year […]

Addleshaws steals Standard Life work from Herbert Smith

Herbert Smith has lost a huge chunk of its Standard Life panel work to Addleshaw Booth & Co. Addleshaws, which has advised Standard Life for more than three years, will take on 25 per cent of the property work normally handled by Herbert Smith. According to John Pike, head of property at Addleshaws, the firm […]

Religion's role in child welfare case

A recent case has, for the first time, forced the courts to consider whether religion should be a decisive factor when placing children with foster parents and how far the wishes of the natural parents should be taken into consideration in respect of their children’s religious up-bringing. An eight-year-old girl, known as “N” and who […]

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Allen & Overy, Clifford Chance sweep the board in PFI awards

The first awards for PFI work have seen Clifford Chance and Allen & Overy clean up. The PFI awards, organised by The Lawyer’s sister title, The PFI Report, recognised the most innovative deals struck in the sector over the last year. Allen & Overy advised on four of the eight winners. The deals included advising […]

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