Clyde & Co’s Post

🚨 We're in the age of 'polycrisis' 🚨 That's according to the C-Suite decision-makers, in-house legal teams and General Counsel who contributed to our Corporate risk radar 2024 report, now live. Every year we uncover the top risks on the mind of business leaders around the world. This year, they told us how ongoing geopolitical crises, increased regulation, AI and a volatile economic outlook are creating a perfect storm of risk. Discover more: https://bit.ly/3X1IteP Follow #CorporateRiskRadar2024 to stay up to date.

The Supreme Court of Appeal, South Africa, in the case of Edward Nathan Sonnenberg Inc. v Hawarden, overturned a controversial High Court decision which held ENS liable to a third party with whom it had no contractual mandate following a Business Email Compromise (#BEC) fraud. The recent SCA judgment, in which Clyde & Co successfully represented the appellant, provides valuable clarity regarding the extent of delictual liability in the context of evolving and widespread BEC fraud risks. We await to see how the Constitutional Court deals with Ms Hawarden’s application for leave to appeal. Read more 👉 https://bit.ly/3XYqOVW #DelictualLiability #CyberRisk

Commercial teams are grappling with regulatory uncertainty around new AI-driven products, services and business models, according to our #CorporateRiskRadar2024. Our recently-launched Global Guide to AI Regulation enables you to identify regulatory risks to assist you in navigating this complex landscape. Download today 📩 https://bit.ly/3zrcT0x The Guide is just one of our many #AI initiatives, including frequent insights, legal developments, and an ongoing ‘Embracing AI’ related podcast series covering live issues in this area. Learn more from our team: https://bit.ly/3rAQGJV #TechRegulation

Barakat, Maher & Partners in association with Clyde & Co has been appointed as legal counsel to Egyptian Aviation Services E.A.S (“EAS”) in relation to their operations. The agreement was signed by his Excellency General Mohamed Kamel, Chairman and Managing Director of EAS, and managing partner Mohamed Barakat in the presence of partner Sam Dahroug, and senior legal advisor Abdel Aziz Hassouba. EAS is the nation’s chief premier provider of an extended line of ground handling services at Cairo International Airport and all other major airports across Egypt. EAS provides its network of services in mass scale and supports nearly every international airline across all the #Airports and #Terminals in #Egypt. ✈️ Learn more: https://bit.ly/3LCLU57 #ClydeCoMEACorporate #Aviation

👋 Welcome Tom Bedford! He joins us in #Bristol as a new partner in the latest expansion of our UK #Insurance practice. Tom brings with him significant experience in the professional indemnity (#PI) market. His practice focuses on defending solicitors from PI claims, as well as handling disciplinary investigations and proceedings. His work also extends to policy coverage. Tom says: "I am really excited to join Clyde & Co and start this next chapter of my career. The firm's reputation in the market is second to none and I look forward to growing my practice here." Read more 👉 https://bit.ly/3zJSTpR

#Australia's financial services regulatory and compliance landscape is changing rapidly - our weekly Regulatory Roundup ensures you are up to date with the most important changes. In each edition, we set out key developments from the past week. In this most recent edition: 👉 ASIC senate inquiry: The Senate inquiry into ASIC has found it “comprehensively failed to fulfil its regulatory remit” because its scope was too broad and complex.  👉 ASIC approves the enhanced Banking Code of Practice 👉 Unfair contracts terms: The Federal Court found that a term in PayPal's standard contracts was unfair because its effect was to allow PayPal to retain fees that it had incorrectly charged if the small business failed to notify PayPal of the error within 60 days of the fee appearing on its account statement. 👉 Equities markets: In a Statement issued by Joe Longo, the ASIC Chair has affirmed that supervising Australia's equities markets, and ensuring that they are ‘clean’ e.g. ‘fair, orderly and transparent' is one of ASIC’s most important functions.  👉 International perspective: It is a big year for Western democracies with major elections, and the potential policies Governments bring to the regulatory settings for digital assets. Read more: https://lnkd.in/gcydTfzk Avryl Lattin, Matt Ellis, Liam Hennessy, Isabella Jones, Crystal Sanders, Amy Thompson #Regulatory #Compliance #FinancialServices #FAR #DigitalAssets #Risk

Simple Agreements for Future Equity (SAFE) are the complicated darling of the early-stage capital raising community, including as they often do not require a financial services licence in Australia. SAFE’s younger sibling, Simple Agreements for Future Tokens, are a natural evolution – but they are even more complicated when it comes to the regulatory licensing position and users should approach structuring them with real caution. Read insights by Liam Hennessy, Jehan-Philippe Wood, Amy Thompson and Olivia Doray 👉 https://lnkd.in/gbT6Cw9v #Crypto #Tokens #FinancialServices #Regulatory #Compliance #Finance

Cointelegraph looks at celebrity crypto tokens, and whether they will catch the eye of the regulator. Commenting in the magazine, Liam Hennessy says that the SEC has claimed “nearly all crypto tokens are securities,” and if it lumps these celebrity tokens under its remit, “the issuer would need to be registered with the SEC.” He adds: "If not, there are appreciable penalties and fines for unlicensed activity. The celebrity may not be the token issuer, which arguably takes them away from what will be the SEC’s first area of concern.” Read the full story 👉 https://lnkd.in/gYqnYpA7 #Crypto #Licensing #Regulatory #Risk #Compliance #Cryptocurrency #Token #Securities

In light of the enactment of new legislation, join Partner Felipe Hoetz from our Chile office and Partner Pablo Cereijido from Marval Argentina for a webinar discussion on Wednesday, July 10, at 10:00AM EDT / 3:00PM BST, regarding the future of the #Insurance markets in Argentina and Chile. The webinar will cover Argentina's recently approved pro-business reforms in President Milei’s era, including Chile’s new white collar crime law and its boost of appetite for D&O coverage, as well as the opportunities in changing legal landscapes as both countries sail into uncharted waters. Register for the webinar 👉 https://bit.ly/3xX2OI7

Insurance News magazine looks at the Senate inquiry concluding that the Australian Securities and Investments Commission (ASIC) has “comprehensively” failed to go after corporate misconduct and enforce financial services laws. Avryl Lattin comments on the recommendation that the government should strongly consider separating its functions between a companies regulator and a separate financial conduct authority. Avryl says that breaking up ASIC’s functions would mean more compliance work for insurers: “Insurers are already subject to prudential regulation by the Australian Prudential Regulation Authority and financial services regulation by ASIC, and also may have to deal with law enforcement on certain matters. If ASIC were to be split up into a companies regulator and separate financial conduct authority, this will no doubt further increase the regulatory burden on insurers.” Read the full story 👉 https://lnkd.in/gz4jqz2y #Insurance #Risk #Regulatory #Compliance #Investigations #Insurers #Enforcement