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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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Conference puts students on right Pathway

Last week 150 sixth-formers congregated at the University of Warwick to attend the first-ever Pathways to Law National ­Conference. It marked the end of a 12-month programme of events, run by ­education charity the ­Sutton Trust and the College of Law, to encourage non-­privileged students to study law at ­university. Lawyer 2B, The Lawyer’s ­student […]

Cadwalader redundancies: Round two

The news that Cadwalader Wickersham & Taft is laying off an unprecedented number of lawyers – 96 – has left lawyers across Manhattan shell-shocked. Any lingering hopes that the worst effects of the credit crunch had passed for law firms were neatly skewered by Cadwalader’s announcement yesterday (Wednesday 30 July). The firm’s most recent “right-sizing” […]

Clydes switches to merit-based pay

Clyde & Co has shaken up its pure lockstep to a three-gated remuneration ­structure based on merit. The ;firm’s ;previous ­system began with 46 ­profit-sharing units and ended with 100, supplemented by a 5 per cent performance-related element. The new system, however, sees ­partners move through gates every three years, reaching plateau within 10 years. […]

Insure hands: Sean McGovern, Lloyd’s of ­London

After being made up to head of legal while still in his twenties, Lloyd’s of London general counsel Sean McGovern has exceeded the insurance giant’s expectations. When Sean McGovern joined the legal ­practice at Lloyd’s of London in 1996 he was just 26. In 2000 he was promoted to head of legal and in 2003 […]

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Cohen milstein mulls equitable life action

Class action firm Cohen ­Milstein Hausfeld & Toll is considering launching legal ­proceedings on behalf of a ­million Equitable Life policyholders after the parliamentary ombudsman Ann Abraham urged the Government to ­compensate them for losses incurred after Equitable almost collapsed eight years ago. Cohen Milstein’s decision to pursue the case comes after the Treasury launched […]

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