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Latest Briefings

India: The age of telephony has arrived

On 19 June 2018, the Department of Telecommunications, Government of India (DoT) finally provided its nod to several key recommendations (Recommendations) made by the Telecom Regulatory Authority of India (TRAI) on the Regulatory Framework for Internet Telephony in October 2017. DoT has released a clarification (Clarification) and certain amendments to existing licenses (Amendment), both of […]

Claims management companies: The new regulatory regime

Walker Morris Banking Litigation partners Louise Power and Rob Aberdein explain the new regulatory regime and the Financial Conduct Authority’s proposals for changes to the regulation of claims management companies across England, Wales and Scotland…

Adjudication Matters – July 2018

The Courts have re-affirmed that, despite a contract containing an express right of set-off, it is only in exceptional circumstances that a party will be entitled to set-off another claim against an Adjudicator’s award. This case serves as a helpful reminder that a right to set-off is unlikely to apply to an Adjudicator’s decision. The […]

Two EU regulations on UCITS/AIFMD asset segregation requirements for depositaries upon delegation

On 12 July 2018, the European Commission adopted two delegated regulations supplementing the Alternative Investment Fund Managers Directive (AIFMD) and the Undertaking for Collective Investment in Transferable Securities Directive (UCITS) on the safekeeping of assets by depositaries and their delegates. Their main purpose is to eliminate discrepancies among different national regulations. The following aspects will […]

Sleeping time is not working time says Court of Appeal

By Siobhan Fitzgerald The social care sector is breathing a sigh of relief after the Court of Appeal in Royal Mencap Society v Tomlinson-Blake reversed previous cases and decided that only time spent awake and working should be counted as working time for the purposes of calculating the national minimum wage.

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Osborne Clarke’s financials tumble

Bristol-headquartered Osborne Clarke has seen significant falls in both turnover and profitability during the last financial year. The firm’s 2008-09 results show that turnover dropped by 12 per cent, from £95.3m to £84m, while average profit per equity partner plunged 36 per cent to £352,000. Managing partner Simon Beswick put the fall down to adverse market ­conditions, adding: […]

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Camerons, DLA square up to Bulgarian court

Law Society joins UK firms’ fight against fines based on protectionism CMS Cameron McKenna and DLA Piper have vowed to fight the protectionist stance taken by local ­Bulgarian law firms after becoming embroiled in a turf war over practising in the country. Camerons and DLA Piper were among a group of four international firms fined by Bulgaria’s Competition […]

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PEP falls 21 per cent at Pannone as revenue nudges up

Pannone brought in turnover of £52.5m in the 2008-09 financial year, a three per cent increase on the total of £50.8m for 2007-08. The firm’s profit margin has dropped from 27 per cent last year to 22 per cent this year. As a result average profits per equity partner (PEP) have fallen 21 per cent […]

2Birds’ expansionist strategy sees fee income rise by 30 per cent

Bird & Bird has announced a 29.7 per cent increase in gross revenue for the 2008-09 financial year. David Kerr Total turnover at the technology and IP-focused firm grew to £186.3m from £143.7m for the previous year. The firm said that 9 per cent of the increase in revenue could be put down to the […]

People moves

Richard Dinning (left) has been appointed as chairman of DMH ­Stallard, taking over from Derek ­Sparrow. Dinning was previously a real estate finance partner at Addleshaw Goddard. Move of the week His appointment comes as DMH Stallard looks to implement its ­latest three-year strategy, ­positioning itself as a “better value” alternative to magic circle and […]

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