How worried should you be about deepfakes? June 21, 2019 Mark Zuckerberg recently became the latest high-profile subject of a “deepfake” hoax. A manipulated video circulating on Instagram appears to show him boasting about having “billions of people’s stolen data” and thanking a Sheffield art installation for his success. Squint, and you could mistake the fake video produced using artificial intelligence software for the real [...]
Slaughter and May boosts pay packet for newly qualified solicitors to £100,000 as Magic Circle pay war rages June 20, 2019 Slaughter and May today said it is increasing its pay package for newly qualified (NQ) solicitors to over £100,000. The City stalwart said basic salary for NQs was going up to £92,000 from £83,000. Factoring in a discretionary bonus, which last year was 8.2 per cent, NQ lawyers stand to receive over £100,000 a year [...]
It’s high time Britain’s fledgling cannabis industry got serious about protecting its IP June 20, 2019 Already a $10bn-plus industry, the legal cannabis business is rapidly going mainstream – and not just in Canada and the US. You might not know it, but the UK has been steadily growing its own cannabis infrastructure for some years, with London increasingly becoming a hub for advisers and entrepreneurs looking to get on board [...]
UK top 50 law firms vulnerable to no-deal Brexit, say accountants June 19, 2019 The UK’s top 50 law firms hold on average cash for just three week’s wages, leaving them vulnerable in the case of economic shocks. Analysis of the accounts of the top 50 law firms by accountancy firm Smith & Williamson and website Legal Week found the monthly payroll was on average £610m, but firms had [...]
Freshfields partner to face tribunal after sexual misconduct allegations June 19, 2019 The Solicitors Disciplinary Tribunal (SDT) has rejected an attempt by Freshfields Bruckhaus Deringer partner Ryan Beckwith to have a sexual misconduct case against him thrown out. A junior lawyer at the firm alleged Beckwith had sex with her after a work event when she was heavily intoxicated and her decision making was impaired. Beckwith will [...]
Former DLA Piper senior partner Juan Picon dies June 19, 2019 Former DLA Piper senior partner Juan Picon has died aged 54, his current firm Latham & Watkins confirmed today. Picon joined US firm Latham & Watkins in 2017 where he was chair of the Madrid office and co-chair of the firm’s Latin America practice. His move to Latham shocked the legal market, coming just 18 [...]
Justice Committee blames government failures for magistrate shortages June 18, 2019 Failures in government planning have left England and Wales short of magistrates, according to a Justice Committee report published today. The shortfall in magistrate numbers is “as frustrating as it was foreseeable” and it has taken a near-crisis to prompt government action, the report said. It is calling on the government to develop an overarching [...]
Average UK law firm partner pay tops £200,000 June 17, 2019 Average earnings for partners at UK law firms has broken through the £200,000 barrier, according to research published today. Average earnings reached £201,000 last year, up seven per cent on £187,000 the previous year and 35 per cent up on £149,000 five years ago. The increase reflects the continued growth of the UK’s legal sector [...]
Premier League most active user of High Court in attempt to crackdown on copyright breaches June 17, 2019 Football and music bodies are the most active users of the UK High Court as they try to crack down on copyright breaches, research published today shows. The organisation that brought the most claims to the High Court last year was the Premier League, with 36 claims in the year to 31 March. The Performing [...]
PwC fined £4.5m for ‘lack of competence’ in Redcentric audit June 13, 2019 The audit watchdog has fined PwC more than £4.5m for a “serious lack of competence” in its audit of IT services firm Redcentric. The Financial Reporting Council (FRC) slammed the auditors’ failure to exercise professional scepticism following an investigation after a £20m black hole was found in Redcentric’s accounts in 2016. Read more: PwC invests [...]