Simpson Thacher cuts associate bonuses

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Latest Briefings

New Act on the Control of Investments Detrimental to the Interests of Hungarian National Security

The Hungarian Government recently adopted Act no. LVII of 2018 on the Control of Investments Detrimental to the Interests of Hungarian National Security (the “Act”). Previously we wrote about a similar legislative proposal which aimed at establishing a similar control mechanism. However, the Act has a more sophisticated approach on the control and approval procedure […]

Health and safety at work in Romania: What companies need to know

Failure to take or observe the mandatory measures for health and safety at work may entail, among other types of liability (e.g. civil, administrative), potential criminal liability for employers. The Romanian Criminal Code (the “RCC”) provides for two offences which sanction such failure: i) failure to take the mandatory measures for health and safety at […]

Switzerland: Insolvency law, policy and procedure

By Daniel Hayek and Laura Oegerli Statutory framework and substantive law Swiss restructuring and insolvency proceedings are mainly governed by the Swiss Debt Enforcement and Bankruptcy Law (DEBA), which entered into force in 1892. A number of other laws and ordinances further regulate special aspects of restructuring and insolvency proceedings, such as specific provisions according to […]

Czech Republic: Office for the Protection of Competition gets tougher

In April 2018 the Office for the Protection of Competition adopted new guidelines on the method of setting fines for competition law infringements,(1) noting that the need for a revision of the previous guidelines had emerged in the wake of developing case law, as well as amendments to the Act on the Protection of Competition. The […]

FOS expansion to SMEs – near-final rules published

By Paul Gair The Financial Conduct Authority yesterday released its policy statement on SME access to the Financial Ombudsman Service (FOS), setting out its near-final rules for amending the compulsory jurisdiction to include new definitions for “small businesses” and “guarantors”. At the same time, it has released a new consultation paper detailing proposals for increasing […]

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Cadwalader will not keep any City NQs in spring

US firm Cadwalader Wikersham & Taft will not offer jobs to any of the trainee solicitors who are due to qualify into its London office next spring. Three trainees have been affected by the move, which it is understood has been blamed on market conditions and the rapid expansion of Cadwalader’s UK-based graduate recruitment programme. […]

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Magic circle takes prudent approach to US bonuses

Magic circle firms have vowed to take a conservative approach to this year’s round of US associate bonuses as economic conditions continue to worsen. The US managing partners of Allen & Overy (A&O) and Freshfields Bruckhaus Deringer highlighted financial prudence as a key factor in setting year-end bonuses, adding that it is also important to […]

Mathys & Squire opens Manchester outpost

Patent and trademark attorney firm Mathys & Squire has launched a Manchester office with the hire of two directors from rival firm William A Shepherd & Son. Mathys & Squire has brought on board trademark specialists Gary Johnston and Robert Hawley for the start-up operation. The firm’s senior partner Peter Garratt and chemical patent partner […]

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