Email hijacking and how to avoid it

You probably won’t know you’re a victim of the fastest-growing cybercrime until it’s too late. Email hijacking, where a cyber criminal takes control of your email account, might sound like something out of a spy novel, but it’s a very real threat, especially for law firms who deal with valuable client data and money.

Related briefings

Covid-19 FCA test case: Some clarity for policyholders?

The Financial Conduct Authority (FCA) brought the Test Case in June 2020 to clarify the extent to which certain non-damage “disease clauses” and “prevention of access” clauses in business interruption insurance policies would respond to losses arising out of the UK Government’s lockdown measures taken to combat the spread of Covid-19 in March 2020.

Insurance: A review of 2020 and outlook for 2021

There is no doubt that 2020 has secured its place in the history books for a number of reasons (we will save Covid-19 for later), such as the current hard professional indemnity insurance (PII) market conditions that we have not seen since 2001, following the 9/11 terror attacks. Every corner of the UK professional sector […]

SRA provides some breathing space for law firms struggling to obtain PI cover

By Zarina Lawley The Solicitors Regulation Authority (SRA) recently published a useful Q&A article on their website which we recommend all law firms take the time to read. It summarises some of the most common queries the SRA has received from solicitors about their rules and the potential impact of Coronavirus. The article discusses professional […]

The 5th Money Laundering Directive – What are the key changes?

The 5th Money Laundering Directive1 (5MLD) came into force on the 10th January 2020. 5MLD is set to build on the regulatory requirements under the 4th Money Laundering Directive2 (4MLD). The purpose of 5MLD is to strengthen the UK’s financial system in order to prevent criminals laundering money and funding terrorism.

Latest Briefings

Voluntary disclosures program update – The new normal

The Canada Revenue Agency voluntary disclosures program (VDP) has been around for decades. While the VDP has changed periodically, perhaps the most significant change occurred when the new Information Circular IC00-1R6, initially published on December 15, 2017, became effective on 1 March 2018.

Section 160 liability – Damis Properties Inc. v. The Queen

In Damis Properties Inc. v. The Queen, the Tax Court of Canada (TCC) found subsection 160(1) of the Income Tax Act inapplicable because the appellants and their former subsidiaries were dealing at arm’s length at the time of the transfer of the subject property. The TCC further concluded that, even if subsection 160(1) applied, the liability of the appellants under paragraph 160(1)(e) was nil because they gave fair market value consideration.

Private wealth – the potential for impact

“It is good to have money and the things money can buy, but its good too to check up once in a while and make sure you haven’t lost the things money can’t buy.” – George Lorimer

Nitrate neutrality

Developments on hold, trips to the High Court, nutrient credit schemes… Ever since a European Court of Justice ruling in November 2018, being nitrate neutral has caused headaches and blockages for developers and planners.

Bermuda: Three-day registration for special purpose insurers issuing bonds

Bermuda has always provided an efficient process for insurance submissions of all classes, with applications being approved in under two weeks. On 20 August 2021, the Bermuda Monetary Authority issued a notice announcing that enhancements have been made to allow further streamlining of the registration process for Restricted Special Purpose Insurers (“R-SPI”). Now, the licensing and registration processes of R-SPI registrants whose business model is to issue bonds (e.g. catastrophe bonds and mortgage bonds) will be consolidated and registrants can be fully registered within three business days.

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