Strategies for safeguarding client confidentiality and compliance

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Strategies for safeguarding client confidentiality and compliance

Everyone is aware that data breaches and cyber attacks are on the rise globally. It affects organisations across various industries and for legal firms especially it is imperative that security is a top priority. Lawyers need to ensure their documentation is secure to uphold the principles of client confidentiality and attorney-client privilege, this is fundamental to the legal profession. By securing documentation, legal professionals protect against unauthorised access, data breaches, and potential disclosure of confidential information to third parties. Compliance with legal and industry-specific regulations is crucial,and secure documentation ensures adherence to these standards, mitigating the risk of legal and ethical consequences. Additionally, securing documentation reflects the professional responsibility of legal practitioners to safeguard the interests of their clients and maintain the highest ethical standards in the practice of law.

Law firms can enhance their security measures by using cloud-based digital dictation solutions as well as implementing a combination of technical safeguards, best practices, and employee training. Here are key steps law firms can take to protect themselves when utilising cloud-based digital dictation.
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Go big or go home: Market reacts to Paul Weiss’ daring London play

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Go big or go home: Market reacts to Paul Weiss’ daring London play

Grabbing headlines in recent weeks, Paul Weiss has pursued an English law offering at breakneck speed, hiring some of the City’s biggest hitters. Here LB canvasses the reactions of industry peers to the Wall Street giant’s bold play.

‘The firm was keen to do something for a while and spoke to a lot of people in the market. But it needed a big name to lead it,’ commented one source with knowledge of the matter. And it is fair to say that Paul Weiss’ hire of debt superstar Neel Sachdev from Kirkland & Ellis has arguably been the most groundbreaking move the City has seen since buyout star David Higgins left Freshfields for Kirkland in 2017. Continue reading “Go big or go home: Market reacts to Paul Weiss’ daring London play”

Partners vote yes on A&O Shearman – now they have to make it work

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Partners vote yes on A&O Shearman – now they have to make it work

‘You’ve now got one more 64,000lb gorilla,’ said one former UK firm leader, in response to the news that the merger of Allen & Overy (A&O) and Shearman & Sterling will proceed.

On 13 October, the firms announced the end of partnership voting on the combination, with more than 99% of votes cast at each firm in favour. The firms are due to combine as A&O Shearman from May 2024 at the latest, creating ‘the first fully integrated global elite law firm’, with nearly 4,000 lawyers across 48 offices in 29 countries. Continue reading “Partners vote yes on A&O Shearman – now they have to make it work”

‘A salutary lesson’: Axiom Ince closed by SRA following months of turmoil

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‘A salutary lesson’: Axiom Ince closed by SRA following months of turmoil

Drawing a long-running saga to its inevitable conclusion, the Solicitors Regulation Authority (SRA) announced on 3 October that it had closed down Axiom Ince with immediate effect following its intervention to protect the interest of clients and former clients of the firm.

Regarding the intervention, the SRA said: ‘We will stop the firm from operating, take possession of all documents and papers held by the firm, and take possession of all money held by the firm (including clients’ money). We are not responsible towards employees or trade creditors of firms that we have intervened in.’ Continue reading “‘A salutary lesson’: Axiom Ince closed by SRA following months of turmoil”

Kirkland endures more losses as Magic Circle firms continue expansion in the US and Middle East

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Kirkland endures more losses as Magic Circle firms continue expansion in the US and Middle East

September saw it finally confirmed that, as suspected, M&A lawyer Roger Johnson will join Paul Weiss’ new English law offering, leaving Kirkland after the firm’s management discovered that he was in discussions to take a team to a US rival firm. Johnson joins former Kirkland colleague Neel Sachdev who moved to Paul Weiss in August. Indeed, September was not the easiest month for Kirkland, which suffered further losses to McDermott in New York and London from its transactions and employment practices.

The rest of the London and international markets have also been hectic, picking up after the summer lull with notable lateral activity reported in corporate, energy and infrastructure, finance and employment in particular. Continue reading “Kirkland endures more losses as Magic Circle firms continue expansion in the US and Middle East”

‘The investment opportunity of a lifetime’: could a booming infrastructure sector offer firms a route into high-value transactional work?

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‘The investment opportunity of a lifetime’: could a booming infrastructure sector offer firms a route into high-value transactional work?

According to Dealogic, 2023 saw the lowest Q1 global deal volume and value since 2012, with just 9,400 deals worth almost $591bn.

But the infrastructure, energy, and projects sector has remained resilient. Dealogic reports 1,953 utility and energy deals worth over $253m in 2022 – a drop in value of just over 16% on 2021, and still higher than all but one of the years 2013-19. Firms on both sides of the Atlantic have noted this, and have invested heavily in infrastructure in recent years, as evidenced by Clifford Chance (CC)’s recent Houston launch. UK-based firms argue that their full-service capabilities give them an edge in the sector. But opinion on this strategy remains split. Some question the importance of full-service capabilities – in the US market in particular. Continue reading “‘The investment opportunity of a lifetime’: could a booming infrastructure sector offer firms a route into high-value transactional work?”

‘The raconteur’s raconteur par excellence’: Industry mourns loss of ESG luminary Paul Watchman

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‘The raconteur’s raconteur par excellence’: Industry mourns loss of ESG luminary Paul Watchman

‘Have I told you my friend’s story about being a munchkin in The Wizard of Oz in Aberdeen in the 1980s? Phone me when you are bored.’ Such messages – as apparently apropos of nothing as they were impossible to ignore – were not uncommon from Professor Paul Quayle Watchman, former Freshfields partner and ESG guru who sadly passed away at the start of July.

Paul’s more irreverent missives were often intermingled with ‘serious’ work-related emails about ESG initiatives, the climate crisis and other subjects which were close to his heart. Another of the best reads: ‘I’m having a few days away at a spa hotel. I can’t loosen the knots. Help me Nathalie. Send scissors to Room 125. Better make it bolt-cutters.’ Paul always used good humour as an antidote to the more depressing side of modern life and for that, he earned a tremendous following, both professionally and personally. Continue reading “‘The raconteur’s raconteur par excellence’: Industry mourns loss of ESG luminary Paul Watchman”

Departures from Shearman and Allen & Overy as merger is unveiled and energy dominates lateral hiring

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Departures from Shearman and Allen & Overy as merger is unveiled and energy dominates lateral hiring

Following the announcement of the proposed A&O Shearman merger, news came that Shearman & Sterling had lost two partners to Ashurst in London, which leads the headline moves – dominated by energy and infrastructure hires – in recent weeks.

London-based Shearman partners Sanja Udovicic and Julia Derrick moved over to Ashurst to expand the firm’s global energy team. Continue reading “Departures from Shearman and Allen & Overy as merger is unveiled and energy dominates lateral hiring”

Clifford Chance names Cohen first New York managing partner amid fresh bid to crack America with Houston office opening

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Clifford Chance names Cohen first New York managing partner amid fresh bid to crack America with Houston office opening

In the wake of Allen & Overy’s stated ambition to merge with Shearman & Sterling, announced in May, Magic Circle peers have found themselves in the unenviable position of having to demonstrate to the market that they also have a coherent US expansion strategy.

Clifford Chance (CC) did not disappoint, on 15 June naming Ness Cohen as the first ever managing partner of its New York office. Cohen, a real estate lawyer by trade, has worked at CC since 1998 and was promoted to the partnership in 2007. He has also held the positions of regional practice area leader of the Americas real estate practice and chair of the Americas personnel committee. Continue reading “Clifford Chance names Cohen first New York managing partner amid fresh bid to crack America with Houston office opening”

Particularly egregious? Market reacts over Credit Suisse buyout as bondholder litigation looms large

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Particularly egregious? Market reacts over Credit Suisse buyout as bondholder litigation looms large

As the fall of Credit Suisse mobilises swathes of advisers, Legal Business asks whether the collapse will yield an influx of work for the litigation community

In March, the collapse of US-based Silicon Valley Bank (SVB) was among the biggest tremors in the banking world since 2008. However, there are weeks in which the events of decades happen, as has been the case since SVB’s demise. Continue reading “Particularly egregious? Market reacts over Credit Suisse buyout as bondholder litigation looms large”