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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London

KWM hires leveraged finance director from Clifford Chance in London

King & Wood Mallesons (KWM) has hired Clifford Chance leveraged and acquisition finance director Lorraine Vaz as a partner in its banking group. Her appointment, which takes effect from 2 November, brings the firm’s London leveraged and acquisition finance team up to five partners. The practice is made up of 37 partners worldwide and around […]

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Star legal writers: IT and privacy

How a Snapchat conversation between father and daughter became legal tabloid fodder, the Google breach of privacy case, and judgments that highlight what is fair disciplinary action after inappropriate social media activity– some of the topics covered by our briefings writers

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