Kremlin bans citizens from calling for sanctions against Russia after denying plans to institute martial law March 4, 2022 Russia’s Duma has introduced a new law to ban citizens from calling for sanctions to be imposed on Russia, and said those found guilty may be forced into “obligatory labour” for up to three years. Russians who call for sanctions to be imposed on Russia, over its invasion of Ukraine, could face fines of up [...]
Dutch law firm nicknamed ‘the Kremlin office’ cuts ties with Russian government March 3, 2022 A DUTCH law firm, which came to be known as “the Kremlin office” due to the work it carried out on behalf of the Russian government, has cut its links to the Putin regime, in response to Russia’s invasion of Ukraine. Amsterdam headquartered firm Houthoff, which also has offices in the City, also vowed not [...]
British human rights lawyer flees Hong Kong after meeting with national security police March 3, 2022 A British human rights lawyer has left Hong Kong after being ordered to meet with the city-state’s National Security police. British barrister Paul Harris, the former head of the Hong Kong Bar Association, got on a flight to Turkey, after attending an interview with Hong Kong police officers over alleged violations of Hong Kong’s national [...]
Plans to crack down on money laundering may be vulnerable to loopholes, campaigners say March 3, 2022 Campaigners have warned that the government’s plans to crack down on “foreign criminals” laundering money through the UK property market, may be vulnerable to loopholes. The comments come after the government set out plans to force those who own UK property through foreign-registered shell companies to reveal their true identities. The plans will see the [...]
US law firm bucks the homeworking trend by signing lease for larger City of London offices March 3, 2022 US law firm Jenner & Block is set to buck the trend towards office downsizing by expanding the size of its City of London offices. The Chicago headquartered firm will take on new premises with 45 per cent more office space than it currently has at its offices in Tower 42. In a statement, [...]
Legal View: Why the law is an underappreciated asset class March 3, 2022 Economists have recently acknowledged the existence and the value of natural assets in ways which open new avenues of thought. Guy Beringer, former chair of UK Export Finance and currently the director of LegalUK, argues that the same process of recognition and revelation should apply to another class of asset which impacts the quality of [...]
Kazakhstani mining company’s libel lawsuit against British author dismissed by High Court judge March 2, 2022 A libel lawsuit, put forward by a Kazakhstani mining company against Financial Times journalist Tom Burgis over his new book, has been thrown out of court. A High Court judge dismissed a case brought forward by Eurasian Natural Resources Corporation (ENRC), after the firm sued Burgis for libel, over comments made in the first two [...]
Magic Circle law firm Allen & Overy vows not to take on any more Russian clients March 2, 2022 Magic Circle law firm Allen & Overy has vowed not take on any more Russian clients, in response to Russia’s invasion of Ukraine. The City of London law firm said it is “reviewing” its “Russia-related portfolio” with a view to stopping “all Russia-linked work that goes against our values.” The firm also said it will [...]
Insurers and analysts temper enthusiasm on Solvency II reforms March 2, 2022 Insurers and analysts have warned that the UK government’s plans to reform Solvency II, with a view to lowering the sums that insurance firms must hold in their coffers, may not live up to expectations. After City minister John Glen set out plans to reform the EU’s Solvency II rules, and “unleash” the “benefits of [...]
Grant Thornton cuts ties with Russian member firm that audits Russia’s Central Bank and Gazprom March 2, 2022 Grant Thornton has cut ties with its Russian member business, FBK, in response to Putin’s invasion of Ukraine. The London headquartered consultancy said its Russian member business, FBK, would be leaving Grant Thornton’s international network with immediate effect. Grant Thornton’s decision to cut ties with Moscow headquartered consultancy FBK will in effect see the firm [...]