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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MoFo appoints new chair

San Francisco firm Morrison & Foerster (MoFo) has elected senior finance partner Keith Wetmore as the firm’s new chair. Wetmore assumed leadership of the 18-office firm on 1 November, after former chair Stephen Dunham completed his four-year term. Dunham will resume his litigation practice full time in the Denver office. Wetmore says: “Under Stephen’s visionary […]

Leagues ahead

Can it really be true? After years of neglect, can the big City firms really be starting to take property seriously again? A statement based on a false premise – that the big firms did not care about property – is a dangerous thing, but some of them have given that impression. The rot began […]

Pillar

Pillar Property and Equitable Life Assurance Society convert their limited partnership into Jersey-based institutional unit trust. Pillar Property advised by Gouldens (David Roberts and Tom Budd). Equitable Life advised by Denton Wilde Sapte (Nichola West).

The Claims People

The Claims People Group floats on Alternative Investment Market. The Claims People Group advised by Eversheds Manchester (David Bowcock). Nominated adviser Grant Thornton. Broker Hoodless Brennan & Partners advised by Wedlake Bell (Stuart Robertson).

British law firms target Malaysia

The Bar Council there is reportedly strongly opposed to the entry of foreign lawyers but the final decision rests with the Malaysian Attorney-General, Tan Sri Mohtar Abdullah. The A-G has been empowered to issue special certificates to admit foreign lawyers to practice in Malaysia since the relevant section of the Legal Profession Act (LPA) came […]

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