The great divide

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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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Garrigues names new chiefs in bumper year

Spain’s largest law firm Garrigues has revealed the names of its new joint managing partners just as it expects to break the e300m (£259.9m) revenue barrier for the first time. Fernando Vives and Ricardo Gómez-Barreda will take up the reins at the start of the new financial year on 1 September for a four-year term. […]

Simmons in dramatic U-turn as PEP drops

Simmons & Simmons has been hit by a 19.6 per cent drop in average profit per equity partner (PEP) after seeing four consecutive years of growth. In its financial results for 2008-09, Simmons’ PEP fell to £520,000 from a high of £647,000 last year. Turnover grew slightly, from £289m to £291m. Managing partner Mark Dawkins […]

Battle to become Freshfields’ global corporate head begins in earnest

Will the young guns push Rawlinson out of pole position? Margaret Taylor investigates Mark Rawlinson The race is on to find Freshfields Bruckhaus Deringer’s next global head of corporate, with incumbent Andreas Fabritius set to stand down at the end of his four-year term. Publicly, partners at the firm are remaining tight-lipped about who Fabritius’s […]

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Silver circle tarnished as financials slide

Equity partners at firms in the ­silver circle will be taking home a significantly lower share of profits ­following the 2008-09 financial year, with profit per equity partner (PEP) falling by an average of 34 per cent. Charles Martin Travers Smith, which has not yet finalised its figures for the past financial year, is expected […]

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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