The new order

Having seen Legal & General’s shares initially tumble on the Friday morning immediately after the UK’s vote to leave the EU – like so many financial services businesses – general counsel Geoffrey Timms is concerned that the business impact of Brexit could become a self-fulfilling prophecy. ‘Markets are emotional rather than factual. We can talk …

The impact of Brexit on the passporting rights of banks, investment firms and other financial institutions | Cleary Gottlieb Steen & Hamilton

Legal Briefing

Close to five-and-a-half thousand British firms currently hold ‘passporting’ rights provided under various of the Single Market directives, which allow a financial services firm authorised in one European Economic Area (EEA) member state to provide certain regulated services (eg deposit-taking, lending, payment services, investment services) across the EEA without requiring separate authorisation in the other …

The continued importance of the seat: a look from the perspective of annulment proceedings | LALIVE

Legal Briefing

Arbitration is a ‘one-stop’ dispute settlement system. Arbitral awards are final in the sense that they are not subject to appeals or other usual remedies. This finality brings with it the advantage of efficiency, but carries the risk that if arbitrators make mistakes, the parties will have to live with them. In principle, there is …

Adult dependant relatives and the ‘impossible’ threshold | Magrath Sheldrick LLP

Legal Briefing

In July 2012, the UK government made significant changes to the adult dependant relative immigration route which previously fell for consideration under Immigration Rule 317. The new rules contained in Appendix FM significantly changed the criteria for this visa category to the extent that, now, comparatively few applicants are successful and the category is all …