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As the closure of the Strait of Hormuz continues to severely disrupt global commercial navigation, companies should understand the key claims likely to arise in emergency and expedited arbitration procedures — including force majeure, breach of contract and pricing disputes — and the contractual safeguards and protective measures to consider, say lawyers at McDermott.
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The Financial Conduct Authority’s recent warning to Premier League football clubs about sponsorship arrangements with unauthorized crypto-asset businesses demonstrates its concerns over unlawful financial promotions and anti-money laundering compliance failures, both of which run the risk of significant reputational damage and criminal prosecution, says Sushil Kuner at Freeths.
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The Court of Appeal's ruling in Tonzip Maritime Ltd. v. 2Rivers Pte Ltd., the latest in the English law of sanctions ownership and control, confirms that where a contract refers to sanctions exposure, the relevant question may be whether there is a real and objectively reasonable risk, not whether a sanctions breach has already been proved, say lawyers at Michelman Robinson.
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As artificial intelligence implementation is causing clients' expectations of outside counsel to shift toward greater risk control and more transparent value, successful law firm transformation and the preservation of professional trust will require governance, training and accountability, says John Hutchinson at Broadfield.
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The growing convergence between cybersecurity and artificial intelligence means that businesses need to recognize the breadth of the threat, and conduct repeated testing and adjustment to address the shifting risk landscape, say lawyers at Debevoise.
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Series
Miriam Bruce, Mayer Brown's head of business protection, discusses how being promoted on the eve of the pandemic was a baptism of fire in leadership, the challenges of multidimensional disputes, and why lawyers should invest in relationships, not just technical knowledge.
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While the nonequity partner model may offer law firms' management flexibility and be a genuine stepping stone for lawyers in some organizations, at others the tier functions more as an extended holding pattern whose uncertainty can cause frustration for ambitious lawyers, say Filippo Falchi and Portia White at Major Lindsey.
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As artificial intelligence deals continue to advance, they raise complex intellectual property questions with hard-to-verify technical facts that require a different approach to due diligence, risk allocation and execution, say lawyers at Katten.
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The European Union's recently adopted anti-corruption directive does not transform compliance requirements overnight, but it will establish a minimum harmonization framework addressing substantive offenses, corporate liability and sanction levels across member states once national legislation is in place, say Katharina Humphrey, Karla Böltz and Maximilian Schach at Gibson Dunn.
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The Bank of England’s recent decision to relax parts of its proposed framework for sterling-backed stablecoins balances innovation with financial stability, and will help the U.K. remain competitive with crypto markets across the globe, says Thomas Cattee at Gherson.
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Series
Studying Italian and Japanese has shown me that learning a new language can benefit a legal career in several ways, including by demonstrating the importance of approaching problems from a fresh perspective and the value of practicing patience with colleagues and clients, says Anna King at Genworth Financial.
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While the ongoing changes to the senior managers and certification regime to streamline processes and remove certain restrictions are welcome, the scheme has worked well overall since its 2016 inauguration, and firms’ compliance and risk management-thinking have shown a marked improvement, say lawyers at Faegre Drinker.
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Anthropic’s recent announcement that Claude Mythos, an AI general-purpose language model, could soon enable virtually anyone to exploit vulnerabilities in major web browsers and operating systems marks an imminent increase in threat levels that current defense cybersecurity regulations were not designed to navigate, say attorneys at Fluet.
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The European Securities and Markets Authority's recent fine against REGIS-TR for data and procedure breaches under Market Infrastructure and Securities Financing Regulations demonstrates that a license confers no immunity from sanctions, and that dually registered trade repositories face a greater financial exposure in the event of noncompliance, say lawyers at White & Case.
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Harriet Gamper at the Solicitors Regulation Authority discusses the regulator’s recent warning notice concerning "no win, no fee" arrangements in high-volume consumer claims, aimed at offering lawyers clarity in understanding their obligations following findings that many law firms were failing in their duty to protect clients' best interests.