Regulators Struggle to Raise the Standard of Care for Financial Advice | Clifford Chance US LLP

Legal Briefing

On March 15, 2018, the U.S. Court of Appeals for the Fifth Circuit (“Fifth Circuit”) in a 2-1 decision vacated the Obama-era U.S. Department of Labor’s (“DOL”) Fiduciary Rule (“Fiduciary Rule”), which responded to a historical shift from traditional pension plans to individually managed accounts, such as individual retirement accounts (“IRAs”) and 401(k)s. The Fiduciary …

The Hot Topic in United States M&A – Corwin | Cravath, Swaine & Moore LLP

Legal Briefing

Introduction The general question of corporate governance can be summarized, in the context of public companies, as three interrelated questions:  who has decision-making authority; how are they constrained in the exercise of that authority; and how are they held accountable for that exercise?  In this model, the U.S. approach to corporate governance has historically been …

US tariffs: where Trump rushes in, others may fear to tread | Clyde & Co

Legal Briefing

It was reported on 23 January 2018 that the US is to impose tariffs on imported solar panels and washing machines. China, South Korea and India, among others, were quick to express outrage at these steps. But are investors, exporters and the companies reliant on these imports impotent in such circumstances? And will it lead …

On borrowed time

The collapse of film giant Kodak in 2012 is already established to many as the definitive case study of the failure of a business convinced its model would last forever. At its peak, Kodak’s share of the photographic film market was more than 80% in the US and 50% globally. So, when a Kodak employee …

Disclosure in English litigation: a sea change is coming | Lewis Silkin

Legal Briefing

English rules on disclosure (‘discovery’ in many jurisdictions) are set for a major overhaul. Draft rules were published in November 2017. Once approved by the Civil Procedure Rules Committee, the resulting draft is intended to be introduced as part of a pilot scheme lasting two years, potentially beginning in April 2018 and running in the …

Reversal of fortunes

It is dominated by mid-sized firms while global players and City leaders lag far behind. Watson Farley & Williams (WFW) sits in the third spot. You must scroll down nearly 40 positions before finding the likes of Linklaters and Clifford Chance.

The GDPR will apply on 25 May 2018 – what should companies do to ensure compliance? | Hogan Lovells International LLP

Legal Briefing

In 1995, the European Union sought to improve the protection of personal data within the EU member states through introduction of the Data Protection Directive. In May 2018, the directive will be replaced by the General Data Protection Regulation (GDPR). This regulation will give individuals greater control over how their data is used, stored and …

The power of the ordinary

The growth in regulation has made compliance part of business as usual for companies and most in-house legal departments are fully occupied with the day to day.

Headline legal changes – what to expect in 2018 | Shoosmiths

Legal Briefing

Victoria Brett, client knowledge manager at Shoosmiths, provides a summary of some of the proposed legal changes relevant to commercial organisations anticipated in 2018. Freezing of chargeable gains  indexation allowance Companies disposing of assets after 2017 will be allowed to use an indexation allowance covering only the movement in RPI from the date of acquisition …