Macfarlanes’ partner pay outstrips Magic Circle’s in surging to highs of almost £2.5m July 26, 2022 Partners at ‘Silver Circle’ law firm Macfarlanes are set to receive payouts worth almost £2.5m this year, after profits at the City firm surged. The bumper payouts mean partners at Macfarlanes will be handed sums worth significantly more than those paid out to top lawyers at London’s elite Magic Circle firms. Partners at the City [...]
EU decides on ground-breaking regulation for crypto assets July 1, 2022 The European Union agreed on landmark regulation for cryptocurrencies in what could be the world’s first regulatory framework for crypto. EU lawmakers, member states, and the European Commission reached a historic deal on crypto rules Thursday that will apply to crypto-assets, crypto-assets issuers and crypto-asset service providers. The pioneering law, known as Markets in Crypto-Assets, [...]
Current space regulations leave businesses immune to liabilities worth billions July 21, 2022 Current space regulations mean that private companies are immune to the consequences of damages caused by their decommissioned tech in orbit, known as space debris, lawyers have told City A.M. “The liability for the collisions in outer space rests with the launching state of the spacecraft operator… It does not deal with private players per [...]
Stablecoins will be regulated in the UK with wider crypto regulation to be discussed this year July 20, 2022 Stablecoins will be regulated in the UK in a major move towards crypto asset oversight, with plans to consult on wider crypto regulation later in 2022. The UK’s Financial Services and Markets Bill was presented to Parliament today and widens the UK’s approach to crypto regulation, allowing for stablecoins to be considered as a form [...]
City Moves: Who’s switching jobs in the Square Mile this week? September 13, 2022 City A.M.’s Millie Turner provides a roundup of the most important hires and job moves across the City, every morning. Email citymoves@cityam.com to be featured. Kantar Data insights company Kantar has appointed a managing partner to lead its consultancy practice. Natalie Vander Vorst is set to lead the 150-person strong practice, which advises brands on commercial and marketing strategies. Over her career, [...]
Corbin & King shareholder hires lawyers in fight for restaurant chain March 17, 2022 Tensions between a London restaurant goliath and its largest shareholder have once more flared up as Minor International looks to sue a US investment fund. Jeremy King, who co-founded the operation behind Mayfair’s the Wolseley restaurant, has been embroiled in a tussle with Thai hotel giant Minor International. King is hoping a £38m rescue package [...]
Law Society says it supports law firms working on behalf of Russian oligarchs March 1, 2022 The Law Society of England and Wales has come out in support of law firms acting on behalf of Russian oligarchs, as City of London law firms face pressure to cut ties with Russia, amid claims they are working on behalf of Vladimir Putin’s allies to block the UK government’s sanctions regime. The comments come [...]
Big Tech agrees to a big EU fake news crack down June 16, 2022 Meta, Google, Microsoft and Twitter have agreed to have a stronger approach to disinformation as the EU pushes forward with a fresh code of practice.
Deloitte becomes last of the Big Four to exit Russia March 7, 2022 Accountancy and audit heavyweight Deloitte has become the last of the Big Four to pull out of Russia, following its invasion of Ukraine – joining EY earlier today. PwC and KPMG announced similar moves last night, citing the Russian government’s actions in Ukraine. Deloitte confirmed last week that it was reviewing its “business and presence [...]
National Crime Agency seized almost £27m in crypto over the past year July 25, 2022 The UK’s National Crime Agency seized £26.9m worth of cryptocurrency from 2021-2022. The law enforcement agency did not report any crypto seizures the year before as it seized £40.1m in physical assets and monies, according to its annual report. It seized £32.9m worth of those assets in 2021-2022. “With no change in the volume of [...]