When the Civil Procedure Rules (CPR) were amended last year, the revised overriding objective made it clear that the rules were in place to enable the court to deal with cases justly and at proportionate cost. This objective was mirrored in the revised CPR 3.9 — the rule that governs the application a party may need to […]
The tectonic plates of insurance regulation are shifting — with reverberations across the industry. The industry is also faced with significant commercial pressures, including a flood of third-party capital; persistent, historically low investment returns, which are driving insurers to search for yield and restructure their businesses; and a flurry of M&A activity, particularly cross-border acquisitions, as […]
In its earlier client update on 4 February 2014, DLA Piper outlined the nature and scope of the insider trading prohibition under the Corporations Act and highlighted the extent of the Australian Securities and Investments Commission’s (ASIC’s) recent activity and success in the prosecution of insider trading and market misconduct offences. This follow-on article (designed […]
The Belgian Financial Services and Markets Authority (FSMA) is organising consultations on proposals for (i) a royal decree introducing information obligations in connection with the marketing of financial products to retail clients and (ii) a royal decree banning the distribution of certain financial products. The consultation period runs up to and including 17 February 2014. […]
By Sydney M White, Jim Halpert, Steven R Phillips and Vinny Sanchez After proponents of cybersecurity legislation were unable to reach consensus on a bill during the 112th Congress, president Barack Obama, on 12 February, issued a cybersecurity executive order (EO) to enhance the security and resilience of the country’s critical infrastructure (CI). This alert provides a preliminary […]
In Aviva Investors Pensions Ltd v McDonald’s Restaurants Ltd, which was heard in the Outer House of the Court of Session, the judge (Lord Malcolm) held that a tenant of a unit in a retail park had acted reasonably in withholding consent to a proposal by the landlord to develop an additional unit nearby, on […]
By Jim Halpert, Sydney M White and Ryan T Sulkin The White House has released the National Institute of Standards and Technology (NIST) Framework for Improving Critical Infrastructure Cybersecurity, which is a key step in the implementation of Executive Order 13636 on cyber security issued by president Obama in February 2013. Over the course of […]
The ongoing saga around HMRC’s tax changes has continued gathering pace over the past few days. Several firms, including TLT and Trowers & Hamlins, have now confirmed that they will be consulting with their fixed-share partners about contributing more capital in a bid to ensure they maintain their self-employed status. As a result, their firms hope […]
A group of firms including Davis Polk and Willkie Farr & Gallagher advised on a £27bn ($45bn) all-stock deal to combine the two biggest cable providers in the US. Paul Weiss Rifkind Wharton & Garrison and Skadden Arps Meagher & Flom were also involved in the merger, which will create a pay TV and broadband […]
Canadian firm Fasken Martineau has become the latest to benefit from the collapse of rival Heenan Blaikie, picking up seven employment lawyers and two corporate specialists in Montréal. The firm announced the hire of employment partners Robert Dupont, Stéphane Fillion, Rhéaume Perreault and Simon Laberg, along with a team of three associates, as well as […]
Neil Sherlock is the chief financial officer (CFO) of Cayman Islands based offshore law firm Walkers. How has your role changed during your time at the firm? My previous role was as CFO for an international investment bank. This meant that my first year or so was spent familiarising myself with the business of law […]
Mayer Brown has entered the US financial reporting season with an increase in both partner profits and turnover, with the latter up five per cent to $1.14bn. Average profit per equity partner (PEP) also rose at Mayer Brown last year, from $1.15m to $1.28m, while it’s London office bounced back from a turbulent 2012 with […]