The new front

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The new front

As expected – or feared – implementing the incoming General Data Protection Regulation (GDPR) is a mammoth task for some companies. ‘It is all-encompassing,’ says Karen Kerrigan, chief legal officer at equity crowdfunding firm Seedrs. ‘The advantage of being a small business is that you can involve all the other departments. Frankly, I would be terrified of GDPR if I was at a large business, because you have to take a much more decisive risk-based approach in terms of what you are physically able to look at. We were able to sit down with our development team, our marketing team and our investments team, and go through every single one of their activities and the service providers they were using.’

To say GDPR will have wide implications for in-house teams is an understatement. It is unlikely that there will be any client or any part of a client’s business that will remain unaffected by the EU regulation, which has a deadline for implementation of 25 May 2018. Continue reading “The new front”

Beware the Black Swan

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Beware the Black Swan

Imagine the worst: within the last 72 hours, your company has been hit by a major crisis. There may have been serious damage to the community in which you operate. Your customers may have suffered, people’s livelihoods may have been destroyed, the environment may be irretrievably damaged. Some of your employees and contractors may be injured, or worse. Your investors will be livid, and the board looking to assign blame. By the end of the first week, chances are your organisation will be facing dozens of lawsuits, some set to become class actions over time.

At this early stage, you will realise that verifiable facts are few and far between. Opinions and rumours abound. You will have little or no idea of the extent of any physical or financial damage, or to what degree the organisation was complicit in the event. You do not even know which of your top team you can count on. Some of them may be implicated; others may be operationally inexperienced, unfamiliar with the political realities, or temperamentally unsuited to the new situation – filled with good intentions, but uncertain what role to play. Continue reading “Beware the Black Swan”

Latham swoops on Quinn Emanuel for high-profile financial regulatory hire Berman

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Latham swoops on Quinn Emanuel for high-profile financial regulatory hire Berman

Latham & Watkins has appointed head of financial services and regulatory David Berman from Quinn Emanuel Urquhart & Sullivan’s London office, returning to the firm for the recruit six months after hiringlitigation partner Martin Davies.

Berman only joined Quinn in January this year and was previously Macfarlanes head of financial services regulation and a partner for nearly eight years. In his early career, he was a managing director at an global investment bank where he held senior legal, compliance and regulatory roles. Continue reading “Latham swoops on Quinn Emanuel for high-profile financial regulatory hire Berman”

Game on – consolidation and tougher regulation raise the odds for betting industry GCs

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Game on – consolidation and tougher regulation raise the odds for betting industry GCs

Increased regulation and high-level consolidation have raised the odds for in-house lawyers playing in the gaming and betting industry

When Edward Traynor took the general counsel (GC) position at Paddy Power in April 2015, he arrived in the middle of a £400m return of capital to the business’s shareholders. Once that was completed, he planned to settle in, restructure the legal team and take a holiday after the company’s annual general meeting (AGM). That holiday never happened. Instead Paddy Power agreed a £7bn merger with Betfair to create one of the world’s largest online gambling businesses with more than 7,000 staff and £1.2bn in sales. Even the best-laid plans often go awry.

Continue reading “Game on – consolidation and tougher regulation raise the odds for betting industry GCs”

Sponsored briefing: Navigant’s David Lawler on recent developments in asset-tracing claims

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Sponsored briefing: Navigant’s David Lawler on recent developments in asset-tracing claims

Given the multiplicity of channels available to money launderers and the increasingly sophisticated methods they use to cover their tracks when routing dirty money, claimants in asset-tracing cases face many barriers to recovering funds.

Continue reading “Sponsored briefing: Navigant’s David Lawler on recent developments in asset-tracing claims”

‘Another major milestone’: Latham returns to the Magic Circle again in City regulatory push

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‘Another major milestone’: Latham returns to the Magic Circle again in City regulatory push

Latham & Watkins announced today (9 March) that it has continued bolstering its financial services offering in the City with the hire of Linklaters financial regulation partner Daniel Csefalvay.

Continue reading “‘Another major milestone’: Latham returns to the Magic Circle again in City regulatory push”

‘A brave new world’: City firms anticipate further changes after new white collar reforms introduced

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‘A brave new world’: City firms anticipate further changes after new white collar reforms introduced

City lawyers anticipate more cooperation between the public and private sectors as the introduction of the Criminal Finances Bill into the House of Commons brings greater reform to white collar crime.

Continue reading “‘A brave new world’: City firms anticipate further changes after new white collar reforms introduced”