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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Neale Downes

M­­oves: 28 May 2012

Taylor Wessing has added Neale Downes to its global finance team as a partner in Dubai. Move of the week: He follows partners Elisabeth Gaunt from Orrick Herrington & Sutcliffe and Ross Caldwell from Dundas & Wilson, both London-based. Downes has left Trowers & Hamlins’ Bahrain office, where he was a partner and head of […]

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Clifford Chance doesn’t share in Oz’s common wealth

Clifford Chance partners Down Under are walking along Bondi Beach screaming “strewth” this morning after hearing the worst news to hit the island (look, it’s Jubilee weekend so we’ll call it what we like) since Harold Bishop went missing. The magic circle giant has emerged as the only UK firm with an Australia presence not […]

Korean paean: are UK firms missing the boat?

Statistics show Korean legal spend is booming. So why are UK firms missing out?  US law firms have been jostling to be the first to launch a Seoul office ever since the Korea-US Free Trade Agreement (Korus FTA) of 2007. Since 6 March, the first day US firms and lawyers were able to file […]

Ashurst’s turnover up 6 per cent at end of expansive year

Ashurst has posted a 6 per cent rise in revenue for the 2011-12 financial year, with the figure coming in at £322m. Last year the firm posted turnover of £303m after a 3.5 per cent rise (7 July 2011). This year’s figure is a like-for-like comparison with the sum the firm posted last year and […]

DLA Piper hires Frankfurt team as fallout from Dewey collapse continues

DLA Piper has picked up a team of Frankfurt lawyers from Dewey & LeBoeuf as the stricken firm files for bankruptcy in the US and UK. DLA Piper hired partner Thomas Schmuck, who co-managed Dewey’s corporate practice in Germany, on 18 May. He joins DLA Piper along with counsel Michael Holzhäuser, who headed Dewey’s German […]

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