The Allen & Overy Podcast archive: Recent Episodes
Allen & Overy
Allen & Overy is an international legal practice and trusted counsel to the world’s leading companies, financial institutions and public sector organisations. In this series of podcasts, our lawyers share their perspectives on today’s most significant global legal, regulatory and commercial issues. Disclaimer: Podcasts are not legal advice. Laws may have changed since a podcast was recorded.
Welcome to episode #3 of the A&O Career Insights podcast. This podcast series aims to shine a light on individuals in the firm, to explore how they navigated their careers to become more senior and successful. Our host, Danielle Viner, a training events coordinator in London, will be interviewing a different guest in each episode to help inspire people to shape their own careers,
In this episode, Danielle meets with Jantien van Renterghem, a financial crime and sanctions lawyer in the BAU. In this episode, Jantien shares invaluable insights into the role of the BAU, outlining how she ensures that accepted business aligns with the firm's commercial objectives and legal obligations. We also delve into the effects of global conflicts on new business, including the recent Russian invasion of Ukraine.
In this final episode of Voices for Change season one, Justin Farrance is joined by Hilde van der Baan, A&O’s Social Impact Group partner and Sara Bowcutt, Managing Director of Women for Women International UK.
Hilde and Sara share their thoughts on the importance of engaging with men on global issues impacting women, how everyone has the power to make a change, plus lessons from our impactful partnership with Women for Women International.
Voices for Change was a project built to create a community of diverse thinkers and doers, and we hope each episode raised awareness of key stories and lessons. As Sara puts it, ‘don’t underestimate the impact your passion can have on other people’.
In this episode, we continue our discussion with Dr. Sandie Okoro OBE, Group General Counsel at Standard Chartered Bank joins Justin Farrance.
Sandie was told at the age of eight that ‘little black girls like you don’t become judges’.
Having ignored the naysayers and risen to be listed by Powerlist as one of the most influential people of African and African Caribbean heritage in the U.K., Sandie shares her story, meaningful advice to those who feel pressured to conform within their careers, and some of her decisions along the way, including why her ‘Women in Law’ portrait is captioned, ‘this is what a single mother from Balham looks like’.
In this episode, we continue our discussion with Dr. Sandie Okoro OBE, Group General Counsel at Standard Chartered Bank joins Justin Farrance.
Sandie was told at the age of eight that ‘little black girls like you don’t become judges’.
Having ignored the naysayers and risen to be listed by Powerlist as one of the most influential people of African and African Caribbean heritage in the U.K., Sandie shares her story, meaningful advice to those who feel pressured to conform within their careers, and some of her decisions along the way, including why her ‘Women in Law’ portrait is captioned, ‘this is what a single mother from Balham looks like’.
In this episode, Dr. Sandie Okoro OBE, Group General Counsel at Standard Chartered Bank joins Justin Farrance.
Sandie was told at the age of eight that ‘little black girls like you don’t become judges’.
Having ignored the naysayers and risen to be listed by Powerlist as one of the most influential people of African and African Caribbean heritage in the U.K., Sandie shares her story, meaningful advice to those who feel pressured to conform within their careers, and some of her decisions along the way, including why her ‘Women in Law’ portrait is captioned, ‘this is what a single mother from Balham looks like’.
In this episode, Dr. Sandie Okoro OBE, Group General Counsel at Standard Chartered Bank joins Justin Farrance.
Sandie was told at the age of eight that ‘little black girls’ like you don’t become judges.
Having ignored the naysayers and risen to be listed by Powerlist as one of the most influential people of African and African Caribbean heritage in the U.K., Sandie shares her story, meaningful advice to those who feel pressured to conform within their careers, and some of her decisions along the way, including why her ‘Women in Law’ portrait is captioned, ‘this is what a single mother from Balham looks like’.
In this podcast, our tax experts look into the implications of Pillar Two, the OECD/G20’s initiative to introduce a global minimum tax, for structured finance transactions.
Tax partners Chris Harrison, Esther Lemmon and Charles Yorke speak to tax knowledge counsel Brin Rajathurai about various topics including:
- A recap of the global minimum tax – what is Pillar Two and how does it work?
- The tax consequences of the new rules in the context of structured finance transactions and the potential commercial repercussions
- The significance of consolidation for Pillar Two purposes and unexpected grouping of orphan vehicles
- How the UK and other jurisdictions are addressing some of the potential issues for structured finance transactions
In this podcast, Godwin Tan and Vicky Chen from A&O’s Society of East Asian Lawyers (SEAL) chat with Grace Wang and Miao Wang, two recently promoted A&O partners based in New York and Luxembourg respectively.
Grace and Miao discuss their career journeys, the challenges and opportunities they faced as lawyers of East Asian ethnicity, and their advice for junior lawyers. Tune in to hear about the experiences and achievements of two East Asian lawyers across three continents!
In this podcast, members from our global ESG and sustainability team discuss what lies ahead on the sustainability agenda and the key regulatory developments to watch in 2024.
The main themes include:
- Political and economic drivers of market activity and regulation, including the implications of 2024's “year of elections” and of the commitments made at COP28 [01:23];
- Sustainability data and reporting – key trends in the global sustainability reporting landscape [17:26], and three significant challenges for business, namely: scope 3 GHG emissions, transition plans, and nature [26:17].
- Supply chains – significant regulatory initiatives focusing on adverse impacts on human rights and the environment [31:56], deforestation [40:09], and critical minerals for the net zero transition [35:08].
- Carbon pricing, carbon trading and related measures, including carbon border adjustment mechanisms [44:05], voluntary carbon markets and Article 6 of the Paris Agreement [47:47].
- Closing thoughts [50:26], including on ESG litigation, greenwashing claims and enforcement, the weaponisation of ESG, PFAS regulatory enforcement and litigation, and the interplay between taxonomies, reporting frameworks and transition plans.
This podcast was recorded on 31 January 2024.
In this episode, Johanna Tschurtschenthaler (Counsel, Tax), Stephanie Yiolitou (Senior Associate, Tax) and Chiara Wolf (Junior Associate, Tax) uncover the impact of ATAD 2’s reverse hybrid mismatch rule on Luxembourg fund structures and dive deep into the implications of this rule for Luxembourg fund entities.
They share best practices related to tax structuring and risk management for Luxembourg funds and give an update on the latest guidance from tax authorities regarding the respective tax forms.
An episode full of practical examples and answers to the market’s most common questions!
Join Allen & Overy U.S M&A partner Dario de Martino, Senior Counsel Kuang Chiang, Associate Puja Patel and Associate Mara Goodman, and as they analyze key tech M&A and regulatory trends of 2023 and discuss predictions for 2024.
The panel discusses the downturn in tech M&A during 2023, attributing it to macroeconomic factors, including geopolitical conflicts and heightened regulatory scrutiny.
A key issue highlighted is the valuation discrepancies between buyers and sellers in 2023, often bridged by earnouts.
Mara Goodman delves into the increased adoption of earnouts in tech and life sciences M&A. These arrangements, generally pegged to financial metrics like revenue, earnings or EBITDA targets, have been pivotal in reconciling differing valuation expectations. However, Dario de Martino and Mara Goodman caution that one of the issues in the use of earnout provisions is the complexity of these provisions. If not drafted simply, with clear language and objective criteria, they can lead to post-transaction disputes that are costly and time consuming. They further discuss the use of arbitration clauses for dispute resolution in the event of a post-transaction dispute.
The conversation also highlights the vital role of tech M&A in corporate growth strategies, emphasizing drivers such as AI (including AI-enabled enterprise software), cybersecurity and Web3, which are poised to propel future M&A activities in 2024.
The team also discusses the aggressive antitrust merger enforcement regime seen in the U.S. in 2023 and how it has affected dealmakings. Anti-trust specialist Puja Patel examines expected developments in 2024, including the release of new FTC/DOJ Merger Guidelines and the proposed changes to the HSR Act notification form, and discusses how these changes will influence dealmaking.
Lastly, the team discusses the outlook for cross-border tech M&A deals in 2024 and evaluates how the recent increase in scrutiny of inbound investments for national security issues may impact tech transactions. CFIUS specialist Kuang Chiang analyzes how the current regulatory regime, including mandatory filing requirements, the increase in foreign direct investment regimes, and new regulation on outbound investments, impacts dealmakers.
In this episode, we continue our discussion with Tuvia Borok, Goldman Sachs’ Managing Director and Global Head of Policy and Document who shares his career journey and insights, as well as the importance of inclusive leadership and theories including stereotype threat.
In this episode, we continue our discussion with Tuvia Borok, Goldman Sachs’ Managing Director and Global Head of Policy and Document who shares his career journey and insights, as well as the importance of inclusive leadership and theories including stereotype threat.
In this podcast Emma Danforth, Vittoria Faraone and Joseph Ray discuss some of the key European and UK regulatory changes on the horizon which asset managers and funds should have on their radar as we move towards 2024, including the hot topics of ESG, AIFMD II and retailisation of funds.
This podcast forms part of the Great Fund Insights series, a global resource providing practical insights into legal and regulatory developments affecting fund managers and institutional investors across Europe, Asia, Africa, the Middle East and the U.S.
In this episode, Tuvia Borok, Goldman Sachs’ Managing Director and Global Head of Policy and Document joins Justin Farrance to share his career journey and insights, as well as the importance of inclusive leadership and theories including stereotype threat.
Part 1 of the discussion is available to watch now, with part 2 being released on Monday 15th January.
In this episode, Tuvia Borok, Goldman Sachs’ Managing Director and Global Head of Policy and Document joins Justin Farrance to share his career journey and insights, as well as the importance of inclusive leadership and theories including stereotype threat.
Part 1 of the discussion is available to watch now, with part 2 being released on Monday 15th January.
Todd Fishman and Gene Ingoglia are back with the first episode of Deconstructing Crypto in 2024. In this new episode, Todd and Gene review the rapid transformation of financial markets in 2023 and the opportunities and challenges driven by two interrelated forces: the gamification of trading and the rise of artificial intelligence.
Gamification influences the behavior and preferences of retail investors, who have flocked to online platforms that offer low-cost, easy-to-use, and fun-to-play features. Social media has amplified the gamification effect by creating online communities where investors can share information about stocks, cryptocurrencies, or other assets, and coordinate collective actions to influence market prices and volumes. Social media driven trading, now in combination with artificial intelligence applications, has caused significant market volatility and regulatory scrutiny. Risks include increased market instability and contagion; distorted price discovery and valuation; facilitated market manipulation and fraud; exposed investors to excessive risk and losses; and challenged existing regulatory frameworks and oversight capacities.
Citing those risks, in December 2023, the US Financial Stability Oversight Council in its annual report identified artificial intelligence as an emerging vulnerability to financial institutions.
Todd and Gene explore the role of social media in creating and amplifying market volatility and discuss the implication of AI for market efficiency, integrity and competition.
UK tax incentives for sustainable investments is the first in a series of podcasts from the Allen & Overy tax team, exploring how tax incentives are used to incentivise sustainable behaviour. Each podcast in the series will focus on a different jurisdiction, with this initial podcast looking at the latest position in the United Kingdom.
Governments worldwide are facing increasing pressure to develop policies that aid the transition to net zero and support social change. The introduction of the Inflation Reduction Act in the US, which introduced substantial tax credits has been grabbing headlines, but what are other jurisdictions doing in this space?
This podcast featuring members of our UK tax team is moderated by senior associate Gordon Hopkinson (London), this podcast features partner Charles Yorke (London), knowledge counsel Naomi Lawton (London), and associate Sadia Khan (London).
The team discuss the following topics:
- Is full expensing, as announced in the latest Autumn Statement, the UK’s answer to the US Inflation Reduction Act tax incentives?
- What has the UK been doing to incentivise environmentally friendly behaviours both in terms of direct and indirect taxes?
- What is on the horizon in terms of environmental incentives?
- What impact could government initiatives such as freeports and investment zones have in this area?
- How is the UK encouraging social impact investing?
In this episode of our Market Horizons podcast series, partner Amanda Thomas (London) and counsel Jennifer Cresswell (London) from our International Capital Markets practice return to the topic of the divergence ahead in the prospectus space from a debt security perspective.
Together they aim to identify possible areas of divergence from an EU and UK perspective as both prospectus regimes continue along their paths of review and reform.
In episode 8 of Deconstructing Crypto, Todd Fishman and Gene Ingoglia break down the trial of FTZ founder Sam Bankman-Fried, in which a federal jury found him guilty of seven counts of fraud.
This is the most high profile case in the crypto space, and has sent shockwaves through the market. Todd and Gene explain the charges filed against Sam Bankman-Fried, the facts of the trial and the important implications for the rest of the cryptocurrency market.
They also look at the increasing pressure on the crypto market from US lawmakers, including the recent guilty plea from former Binance CEO regarding violations of U.S. anti-money-laundering requirements under the Bank Secrecy Act, and the criminal charges brought against Binance.
The Electronic Trade Documents Act 2023 has the potential to transform trade finance by permitting market participants to ditch paper documentation and move to digital. Last week’s episode explored the background, rationale and implications of the Act. This time, our panel turns their attention to practical aspects of complying with the new law and next steps for digitalisation of world trade.
Hosted by Catherine Lang-Anderson, a partner at Allen & Overy, the podcast brings together a panel of experts from the Law Commission, Lloyds Bank and current Fuse cohort member, Enigio, a tech company offering digital solutions for trade finance.
Professor Sarah Green, the Law Commissioner for Commercial and Common Law at the Law Commission of England and Wales, has been instrumental in the legal developments around the digitalisation of trade. She is joined by Rogier Van Lammeren, Managing Director, Head of Trade and & Working Capital Products at Lloyds Bank, and Alex Waites, Executive Director at Enigio.
In this second episode, the panel considers the impact of the legislation in the UK and beyond, discussing the economic and efficiency gains as well as the ripple effect it has on international developments around the world. They emphasise the need for industry-wide collaboration and cooperation to implement the shift to digital trade documents, aided by legal consistency and system interoperability across jurisdictions.
COP 28 is a significant milestone. Not only will the conference hear the findings of the first-ever Global Stocktake, which reviews progress against the goals of the Paris Agreement, but extensive discussions are expected around the future of fossil fuels and the significant scale-up of renewables. Financing will remain a central theme, notably the loss and damage fund and new carbon trading mechanisms.
To set the scene, a panel of experts from across the Allen & Overy network share their insights on the key issues to watch at COP 28. This podcast was recorded on 27 November 2023.
The Electronic Trade Documents Act 2023 has the potential to transform trade finance by solving a piece of the puzzle that will permit market participants to ditch paper trade documentation and move to digital. It is still early days for this legislation, and making the most of the opportunity it provides will require collaboration across all players in the industry.
Catherine Lang-Anderson, a partner at Allen & Overy, hosts a panel of experts from the Law Commission, Lloyds Bank and current Fuse cohort member, Enigio, a tech company offering digital solutions for trade finance.
Professor Sarah Green, the Law Commissioner for Commercial and Common Law at the Law Commission of England and Wales, has been instrumental in the legal developments around the digitalisation of trade. Joined by Rogier Van Lammeren, Managing Director, Head of Trade & Working Capital Products at Lloyds Bank, and Alex Waites, Executive Director at Enigio, together they discuss the background, rationale and implications of the Act, which gives digital documents the same legal recognition under English law as paper documents. They also explore the concepts of electronic trade documents and reliable systems under the Act, and how the Act will benefit businesses, especially SMEs, by reducing costs, risks and inefficiencies in trade transactions.
This is part one of a two-part series, so stay tuned for the next episode, where the panel will delve into more practical aspects of complying with the new law and what's next for the industry.
Jason Denisenko, Christopher Scarf and Vivien Liu from our regulatory team in Sydney summarise the latest developments in the saga that is Australia’s financial services licensing regime. They briefly discuss the new proposed forms of relief and exemptions available to foreign financial services providers, how they will be applicable and some of the key points that foreign entities may want to consider when applying or transitioning from existing arrangements.
Update: As of 1 December, a bill including the proposed changes discussed in this podcast was introduced to Parliament. Following several years of consultations, this is a significant step for the foreign financial services licensing regime. We will continue to monitor the progress of this bill.
Join Justin Farrance, A&O’s DE&I Ambassador, as he interviews colleagues from across A&O, as well as clients and alumni about their personal stories, commitment on DE&I and advice for others to learn from.
In this episode, partner, Will Samengo–Turner and guest Precious Oyelade talk to Justin about their journey and in particular, the firm’s collaboration with Google as part of the Black Founders Fund. This works to address the funding gap and systemic barriers that Black entrepreneurs face in accessing capital, networks and resources.
The podcast flags some of the stats, such as, prior to the fund’s launch in 2021, only 0.25% of venture capital funding went to Black founders.
Join Justin Farrance, A&O’s DE&I Ambassador, as he interviews colleagues from across A&O, as well as clients and alumni about their personal stories, commitment on DE&I and advice for others to learn from.
In this episode, partner, Will Samengo–Turner and guest Precious Oyelade talk to Justin about their journey and in particular, the firm’s collaboration with Google as part of the Black Founders Fund. This works to address the funding gap and systemic barriers that Black entrepreneurs face in accessing capital, networks and resources.
The podcast flags some of the stats, such as, prior to the fund’s launch in 2021, only 0.25% of venture capital funding went to Black founders.
In this podcast, our colleagues at A&O Consulting discuss the importance of getting your FAR implementation right, so that your accountable persons are set up for success and your internal processes are designed to be sensible and effective.
Some of the key areas that will be crucial for accountable entities to consider during the transition period from BEAR to FAR. They also share key learnings and insights from the UK Senior Manager Certification Regime – the closest proxy for the future direction of our industry.
In this podcast our team of A&O experts bring you up to speed with the key issues company secretaries and their teams need to think about when preparing for their next Annual Report and AGM, and discuss some of the developments on the horizon.
Points covered include:
- AGM share capital authorities - latest guidance and market practice update;
- executive remuneration - current trends and good practice recommendations;
- “say on climate”- AGM resolutions and protests;
- annual reports - new requirements and practice points;
- UK corporate governance reform - what we’re expecting in the future.
You can find further information on the support we can provide for Annual Reports and AGMs and details of some value-added services by downloading our brochure.
In the latest episode in our series of podcasts exploring current and emerging developments shaping the future of banking, Sally Dewar, CEO of A&O Consulting, and Clive Garfield, Executive Director of A&O Consulting, join Roger Lui, partner and co-head of the Global Bank Sector team, to discuss the findings of A&O’s recent in-depth global research study into organisational culture in financial services. In particular, they look at the role and responsibilities of boards and executive management teams in shaping and driving culture to manage risk, drive performance, and empower employees.
Companion diagnostics are classed in the U.S. and in the EU as medical devices, usually in-vitro medical devices (IVDs). They are a class of products which are rapidly gaining in importance, particularly in treating patients with cancer. About one third of marketing authorisations in the field of oncology in the EU between 2010 and 2020 required a diagnostic test for patient identification. The Global Oncology Companion Diagnostic Market Size was valued at 2.2 billion in 2019.
In this podcast, Sapna Palla, Tine Carmeliet and Rafi Allos discuss the regulation of IVDs in the EU and the U.S. and how they are authorised in these jurisdictions.
In this podcast, Partners Sigrid Jansen and Nick Charlwood sit down with Associate Ella Richards to discuss the recent landmark Vroon restructuring and their experience of this USD900 million restructuring which involved the first ever parallel use of the new Dutch WHOA and an English scheme of arrangement.
A new video podcast series by Allen & Overy called Voices for Change, for inclusive thinkers and doers. Join Justin Farrance, A&O’s DE&I Ambassador, as he interviews colleagues from across A&O, as well as clients and alumni about their personal stories, commitment on DE&I and advice for others to learn from. Stay up to date with new episodes announced each month.
First up, Senior Partner Wim Dejonghe talks to Justin about his early years in law, as well as why “the biggest risk for any successful organisation is to become complacent with DE&I, because the world will catch up with you.”
A new video podcast series by Allen & Overy called Voices for Change, for inclusive thinkers and doers. Join Justin Farrance, A&O’s DE&I Ambassador, as he interviews colleagues from across A&O, as well as clients and alumni about their personal stories, commitment on DE&I and advice for others to learn from. Stay up to date with new episodes announced each month.
First up, Senior Partner Wim Dejonghe talks to Justin about his early years in law, as well as why “the biggest risk for any successful organisation is to become complacent with DE&I, because the world will catch up with you.”
The regulatory frameworks for medicines and medical devices have historically grown up on separate tracks, but increasingly, medicines and medical devices are being used together in patients as drug device combinations, companion diagnostics and medical devices used in clinical trials.
Join Sapna Palla, Eda Zhuleku and Rafi Allos in part one of this podcast series to discuss the use of medical devices in clinical trials and the different perspectives between the EU and U.S., as well as the regulatory requirements that may apply.
Net Asset Value or NAV financing is gaining popularity among private equity and other alternative asset managers seeking liquidity in a challenging market.
In the first episode of Private Capital Perspectives, Hong Kong banking and finance partner Patrick Wong and structured finance lawyer Jamie Taylor discuss how NAV financing works, why it is increasingly in vogue among APAC investors, and the issues to consider when structuring and executing NAV deals.
The European Commission have published the long awaited proposals for major revision of pharmaceutical law in the European Union.
In our latest life sciences podcast, Rafi Allos and Tine Carmeliet discuss the new directive and new regulation under the legislation with much anticipated change to happen.
In the latest podcast, Todd Fishman and Gene Ingoglia discuss the impact of the long-awaited decision on the Ripple Labs case. Read here for our client alert on this decision.
In SEC v. Ripple Labs, the U.S. Securities and Exchange Commission (“SEC”) alleges that Ripple Labs, Inc. and two of its executives raised over $1.3 billion through an unregistered and ongoing digital asset securities offering (XRP). Almost immediately, this decision created a number of waves and cross-currents across the crypto ecosystem.
Soon after, in SEC v. Terraform Labs, District Judge Jed Rakoff issued a decision that alleged the Terraform (UST) stablecoin and the related Luna token are investment contracts for all purposes within the meaning of the US securities laws.
So where does this leave us and what do businesses need to pay attention to?
Tune in to the podcast, where Todd and Gene shares their views on what next after Ripple.
In this episode of Women in Funds, Funds & Asset Management partner Emma Danforth (London) and associate William Michell (London) have an insightful discussion with Anna Budd, Senior Managing Director and Co-Head of Legal at Hines, and Ruth Jackson, Managing Director and Deputy Fund Manager at Hines. The conversation revolves around a range of diversity, equity & inclusion and career development topics, including the value of mentorship, how to thrive in a male-dominated industry, career advice to junior female professionals, and generational diversity in the workplace.
About speakers
Anna Budd is a Senior Managing Director and Co-Head of Legal at Hines overseeing a global team of over 40 people. Since joining the firm in 2017, she now has prime responsibility for all legal operations outside the US spanning Europe and APAC, as well as overseeing legal support for Hines’ global investment management business. Anna has significant experience in real estate investments, developments, financing, corporate transactions, as well as real estate funds and joint ventures. Anna plays a key role in Hines’ D&I efforts, most notably through her role as Co-Chair of the One Hines Women’s Network. Anna is also part of Hines’ mentoring programme, mentoring several women both inside and outside Hines.
Ruth Jackson is a Managing Director and Deputy Fund Manager at Hines. She joined Hines in July 2018 and is the Deputy Fund Manager for the flagship Hines European Value Fund Series which manages c.€1.8bn of equity across the first two funds and is fundraising now for HEVF 3, raising over €1.45bn to date with final closing in November. Prior to Hines, she was the Portfolio Manager on a +€3.0 billion pan-European open-ended Fund at Invesco Real Estate for approximately 5 years. Ruth started her career, after graduating from Cambridge University, at JLL advising clients on investments and developments in central London.
Join Allen & Overy partners Gene Ingoglia and Claire Rajan as they analyze the regulatory enforcement developments in the world of AI. In this podcast, Gene and Claire dive into SEC Chair Gary Gensler’s speech to the National Press Club on July 17, and provide their insight on the four key areas discussed by Mr Gensler; (i) The potential for conflicts of interest; (ii) The potential for fraud and deception; (iii) The impact on privacy and intellectual property issues - so, whose data is it?; (iv) The impact on financial stability. This speech was soon followed by the SEC’s new proposed rulemaking, which Gene and Claire give their view on and how this will affect the regulation of the AI space moving forward.
Gene and Claire also discuss the Fed weighing in on AI’s impact on the financial sector and the probe launched into the use of AI in the securities industry by Massachusetts Secretary of State William Galvin, by seeking information from firms using or developing AI on what supervisory procedures are in place and how they plan to use AI.
In this episode of A&O’s sustainability podcast series, Matthew Townsend, Arthur Sauzay and Ying-Peng Chin from A&O’s International Environmental, Climate and Regulatory Law Group discuss recent regulatory developments in carbon leakage and carbon border adjustment mechanisms, in particular the EU CBAM and key global trends in this space.
In this second episode of Allen & Overy’s Market Horizons podcast series on the political agreement of the draft EU Green Bond Regulation, Maria Green, a Counsel PSL who supports A&O global securitisation practice, and Axel de Backer, a Senior Associate in A&O’s Banking & International Capital Markets practice in Brussels, look at this new Regulation from the securitisation perspective.
Together, they analyse why the new European Green Bond label could present challenges for securitisation transactions and give rise to new complex disclosure considerations.
In addition to this podcast, please also refer to the discussion of the draft Regulation from the mainstream debt perspective, which was covered in the podcast of 29 June 2023 “The EU Goes for gold with its Green Bond Regulation” and a related article.
In this podcast, Kate McInerney and Louisa Innes-Wilkin discuss the key upcoming changes to Solvency II, and in particular, the reform proposals set out in the Consultation Paper published on 22 June 2023 (CP 12/23).
In this podcast, our tax experts explore some practical implications that Pillar Two could have on M&A transactions and documentation.
Tax PSL Counsel Brin Rajathurai discusses various topics with Tax Partner Godfried Kinnegim and Tax Counsel Gareth Banfield, including:
- A refresher on Pillar Two and where we are with implementation
- Pillar Two's impact on documentation and risk allocation in M&A transactions and joint ventures
- Understanding Pillar Two's wider impact on deal structure, pricing, and modelling
- The importance of monitoring developments and having a flexible, cooperative approach
The response of individual banks and the wider banking industry to climate change is coming under increasingly intense scrutiny from policymakers, regulators, shareholders and other stakeholders, including non-governmental organisations and the general public.
Banks are facing a rapidly expanding body of laws, regulations and guidelines that require them to disclose detailed information about their efforts to decarbonise their operations and business models.
In parallel, they are being challenged to verify and validate the sustainability of ‘green’ financial products that they are developing to meet the needs of their customers around the world.
As banks navigate this fast-evolving landscape, understanding and mitigating the risks of regulatory sanction and litigation relating to greenwashing and making potentially misleading claims has become a pressing priority for boards and senior management.
In the first in a series of podcasts exploring current and emerging developments shaping the future of banking, A&O partners Andrew Denny, head of the firm’s Global Business and Human Rights Practice, and Matt Townsend, co-head of the International Environment, Climate and Regulatory Law Group, join Roger Lui, partner and co-head of the Global Bank Sector team, to discuss the most significant issues and trends that directors and senior executives should consider.
In this podcast, Kate McInerney and Lucy Aconley discuss the UK Treasury’s proposal for an insurance recovery and resolution regime, and provide an update on the changes to the Financial Services and Markets Act 2000 discussed in the previous podcast.
In Indonesia, the Personal Data Protection (PDP) Bill was passed and become law in October 2022 in Indonesia. PDP Law is the first comprehensive law in Indonesia to govern personal data protection in both electronic and non-electronic systems. Albeit being passed in October 2022, in the provisions of the PDP law, there is a two year grace period to allow parties to comply with the new standards imposed.
With two-years grace period for parties to comply with its requirements, enactment of implementing regulations is forthcoming but uncertainties are still up in the air. However, that does not mean that companies cannot prepare themselves for the PDP Law.
To learn more, tune in to our data specialists, Cedric Lindenmann, Prasetyo Sukirno, Agnes Guntara’s discussion on the latest happenings in Indonesia.
In this episode of Allen & Overy’s Market Horizons podcast series, Axel de Backer, a Senior Associate in A&O’s Banking & International Capital Markets practice in Brussels and Danielle Kendall, a Senior Professional Support Lawyer in A&O’s International Capital Markets practice in London, discuss the potential impact of the political agreement on the draft EU Green Bond Regulation for the mainstream debt capital markets.
Together, they discuss why the new European green bond label will represent a “gold standard”, and how an issuer will be able to meet its requirements. They also cover the newly introduced voluntary approach to sustainability disclosures for bonds not using the label but marketed as environmentally sustainable or sustainability-linked bonds (SLBs). As well as the ability for issuers to continue to follow the ICMA Principles should they prefer and what changes may be made to the EU Prospectus Regulation in terms of the introduction of a new ESG disclosure Annex.
In this episode of “Beyond the Hype, The Future of Digital Assets” podcast series, our digital assets experts focus on the latest proposals to regulate institutional/wholesale digital assets products in the UK.
The first quarter of 2023 has seen a flurry of new developments which are going to form the fundamental legal and regulatory building blocks in relation to this fast-growing sector. These include, for example, proposed new regulated activities regimes; new disclosure/whitepaper rules; new market abuse regimes; reforms to underlying property law; reforms to insolvency law; and proposed new industry standard derivatives documentation.
In this episode, our digital assets experts focus on the latest law and regulation of institutional/wholesale digital assets products and services, including topics such as custody of digital assets, tokenisation and derivative trends. They discuss the key issues and areas where market participants will need to be aware of the evolving design of the relevant regimes.
In this podcast, our tax and funds & asset management lawyers discuss how the OECD/G20 plans for a global minimum tax will impact private capital. Tax partner James Burton (London) and tax counsel Guilhem Becvort (Luxembourg), moderated by funds & asset management partner Emma Danforth (London), discuss various topics including:
- Back to basics: What is Pillar Two and how will the new global minimum tax work?
- Key factors that determine who is in or out of scope of Pillar Two
- Potential exclusions that could apply to those in the private capital sector
- Practical implications for those in scope and why it is important to start thinking about these new rules now.
In this podcast, Jennifer Marshall, Lucy Aconley and Kate McInerney discuss the current insolvency framework for distressed insurers and how that is set to change with the imminent amendments to the Financial Services and Markets Act 2000 and the possible introduction of a bespoke resolution regime.
In episode 6 of Deconstructing Crypto, Todd Fishman and Gene Ingoglia analyze theSecurities and Exchange Commission’s (SEC) enforcement actions against Binance and Coinbase, two of the largest crypto asset trading platforms in the world. They explain the charges, the legal arguments, the potential defenses, and the implications for the crypto industry. Both enforcement actions represent high-stakes moves against the crypto ecosystem and are striking given the prevailing uncertainty as the legal community awaits (i) a ruling in the Ripple case as to whether crypto assets constitute securities and (ii) US congressional action to directly regulate the space.
Todd and Gene analyze the implications of these developments for the crypto industry and the legal and strategic challenges that crypto actors face in navigating a complex and evolving enforcement landscape.
This podcast series features topical conversations with leading figures in the global banking industry.
In this new episode of our podcast series, Tracey McDermott, Group Head, Conduct, Financial Crime and Compliance at Standard Chartered, talks to Sally Dewar, CEO of A&O Consulting, about the compliance function facing a major evolution in its role and responsibilities.
Tracey and Sally discuss recent events in the sector and the importance of robust regulation and strong leadership. In particular, they look at whether the resolution framework in place is working, diversity, the importance of culture, what ESG means for the compliance office and the emergence of AI.
This episode was recorded in April 2023.
Despite the recent “crypto crisis” and the digital assets slump, it seems likely that non-fungible tokens or NFTs are here to stay.
What should businesses be doing to ensure that they have the necessary IP protection before entering the world of NFTs? Listen here to a podcast by Beverley Potts, Theresa Castle and Robert Dickens which will discuss some of the IP infringement issues that are starting to emerge following the creation of, and trade in, NFTs.
In the last couple of years, European co-legislators have worked to design a harmonised and comprehensive regime designed to both incentivise an efficient digital transformation within the Union, as well as to ensure market stability and adequate investors protection in the area of digital assets.
In this podcast moderated by Judith Bremer, associate in the financial regulatory team in Frankfurt, Emiliano La Sala, head of domestic capital markets and Fintech group coordinator in Italy, provides an overview on the current situation and the latest regulatory developments in Europe, from the DLT Pilot regime to MiCAR.
In the next episode of the Women in Funds series of interviews, funds & asset management partner Zeeshan Ahmedani (Los Angeles) discusses topical diversity, equity & inclusion (DE&I) and industry trends with Heather Henyon, Founding Partner of Mindshift Capital, a venture fund based in Dubai that is investing in early stage women-led technology companies in the Middle East and globally.
The conversation explores a number of topics, including market and DE&I trends in gender-lens investing, an investment strategy that takes into consideration gender-based factors throughout the investment process with a view to promoting gender equality.
Women in Funds is a series of video and audio interviews launched in celebration of Women’s History Month where our funds and asset management lawyers speak with senior female professionals in the asset management industry. The series focuses on topical diversity, equity & inclusion issues and the challenges our interviewees have overcome as they have built their successful careers.
About the speaker
Heather Henyon is the Founding Partner of Dubai-based venture fund Mindshift Capital. She is also the founder of the Women’s Angel Investor Network (WAIN), the first and largest women’s angel group in the Middle East. Heather has over 100 direct and fund investments in the US, Europe, and the Middle East. She started her career on Wall Street and has almost 20 years of experience in finance, technology and strategy in emerging markets, including as founding CEO of Grameen-Jameel Microfinance Ltd.
Heather is a member of the Investment Committee of US-based Next Wave Impact Fund and is a founding member and former Board and Investment Committee member of Dubai Angel Investors. She serves on the Board of Directors and is Chair of the Risk & Audit Committee of the Sekem Holding Group in Egypt and is a Board Member of Sarwa, Little Thinking Minds, NeedsList, and Localized. She is also a member of the Cartier Women’s Initiative MENA Jury.
How and when do life sciences entrepreneurs decide whether to raise more funds, partner with big pharma, or exit their company? What strategies and tactics do they apply? And what are the key lessons and challenges along the way? In our latest life sciences podcast, Tine Carmeliet and Juno Hautekiet interview two CEOs who have chosen very different routes for growing their biotech ventures.
Tim Knotnerus of Agomab Therapeutics, one of the most promising therapeutics companies in Europe and one of 2022’s “Fierce 15” honorees, shares how to create optionality and how he recently secured a USD 114 million Series B financing. Claudine van der Sande, former founder and CEO of Xinvento, a biotech aiming to improve the lives of those with Congenital Hyperinsulinism, reveals why she instead decided to sell her company and how she managed to do this with the company still in its preclinical development phase.
Join us on this podcast as we explore their motives, priorities and advice for future biotechs.
In this podcast we discuss the Quincecare duty, first recognised over 30 years ago, discussing what the duty is and how it applies to payment service providers. We explain why payment service providers should be thinking about the duty and how it fits within their existing regulatory and legal obligations.
Topics covered in this podcast include:
- What the Quincecare duty is and why it was established
- How the Quincecare duty fits with a payment service provider’s duty to comply with authorised payment instructions from a customer
- How the courts approach the Quincecare duty and some recent litigation examples
- Which category of customers the Quincecare duty applies to
- Practical implications of the Quincecare duty: what issues should payment service providers should be thinking about, both contractually and in practice?
For further information and some of the most frequently asked questions about the Quincecare duty, read our most recent update.
In this episode of Selecting your Fund Domicile, A&O Middle East Funds & Asset Management Partner Kamar Jaffer and our guest speaker Bhavna Ramsurun, Partner at BLC Robert & Associates, discuss current legal and regulatory trends in the funds sector in Mauritius. In particular, the discussion focuses around:
- types of funds that are being set in Mauritius
- types of vehicles that are currently used in the region, including, among others, the Variable Capital Company (VCC)
- key regulatory structuring considerations and requirements applicable to private funds
- the economic substance requirements and the ecosystem in Mauritius
- topical fund finance, ESG and sustainable finance trends.
Selecting your Fund Domicile is a series of video podcasts that focuses on manager considerations for setting up a fund and choosing the most appropriate domicile. Featuring leading offshore law firms and A&O experts, this Q&A series will explore some of the benefits and legal and regulatory considerations for each offshore location, including the British Virgin Islands, the Channel Islands, the Cayman Islands, Bermuda, Ireland, Luxembourg and Mauritius. We will also cover FAQs on how to choose a domicile for your fund and why offshore jurisdictions have become a key choice for global alternative investment funds.
About the speakerBhavna Ramsurun is a Partner at BLC Robert and Associates in the Financial Services team. She is involved in diverse aspects of financial regulatory matters with a special focus on investment funds, capital markets regulation and securities law. Bhavna frequently advises on structuring and establishing funds and alternative private investment vehicles, the establishment of financial services providers and institutions and regulatory compliance. She is also well-honed in securities law and capital market matters including the securities offering, listing of securities on the Stock Exchange of Mauritius, takeover regulation and issuers’ regulatory obligations.
In the next episode of ‘Women in Funds’, funds & asset management partner Emma Danforth (London) has an insightful discussion with Lorna Brown, CEO at the newly established Birchwood Real Estate Capital, around diversity, equity & inclusion topics, the value of mentorship and sponsorship in her career and how to thrive in a male-dominated industry. About the speaker
Lorna Brown is the Chief Executive Officer at Birchwood Real Estate Capital, an alternative lender focussed on providing senior, whole loan and mezzanine financing in the UK and Europe.
Lorna has over 22 years’ experience across real estate equity and debt. She established Birchwood Real Estate following her role as Head of Capital Markets at Delancey, where she was responsible for raising and deploying their inaugural debt fund as well as sourcing, closing and managing equity transactions and arranging debt for their equity investments.
Prior to this, Lorna held a range of roles including Global Head of Real Estate Debt at Legal & General Investment Management, Managing Director at Blackstone Real Estate and Managing Director at RBS.
Domestic Implementation of Pillar Two is a new podcast that considers the domestic implementation by each of the UK, Dutch and German governments of the Organisation for Economic Co-operation and Development’s (OECD) Pillar Two rules imposing a global minimum corporation tax rate of 15%.
Pillar Two is the series of rules designed and agreed by OECD Inclusive Framework jurisdictions with a view to setting a global minimum corporation tax rate of 15% on certain multinational groups of companies.
Moderated by tax associate Mitchell Fraser (London), this podcast features senior tax associate Sorsha Reilly (London) and tax associates Charlotte Hoff (Amsterdam) and Christoph Zilgens (Dusseldorf) in a discussions about the implementation of Pillar Two in their respective countries. Specifically, the speakers consider a range of topics, including:
A brief overview of the Pillar Two rules
- How the effective tax rate for Pillar Two purposes is determined and the different types of top-up taxes
- The OECD’s proposed timetable for jurisdictions to implement these rules
- An update on the implementation of the Pillar Two rules in the UK, the Netherlands and Germany
- Differences between the UK, Dutch and German Pillar Two proposals.
OECD Pillar Talk is Allen & Overy’s new series of webinars, podcasts and publications. The series focuses on global tax changes being implemented as a result of the two-pillar proposals initiated by the Organisation for Economic Co-operation and Development (OECD).
In the second part of this two-part episode, part of the “Market Horizons” series, we continue to look at blockchain bonds and how legal frameworks are changing around the world to accommodate the issuance of blockchain bonds.
In this part, we focus on (i) the recently adopted EU Pilot Regime and (ii) national legal frameworks in the UK, Luxembourg, France, Spain, Netherlands, Germany and Italy.
The podcast is moderated by partner Frank Mausen (Luxembourg) who is joined by partners Hervé Ekué (Paris), Salvador Ruiz Bachs (Madrid), Jonathan Heeringa (Amsterdam), Nick Bradbury (London), counsels Daphne van der Houwen (Amsterdam), Daniela Schmitt (Frankfurt), Jason Rix (London) and Emiliano La Sala (Milan) and senior associate Philippe Noeltner (Luxembourg).
In this episode, Sally Dewar, CEO of A&O Consulting, talks to Fran Griffiths, an independent senior executive coach and leadership mentor, about the skills, behaviours and attributes needed to an authentic and empathetic leader.
Sally and Fran share their views on the diverse challenges facing senior business leaders such as the need to nurture a transparent and accountable organisational culture and how to manage a multi-generational workforce in a hybrid environment.
In addition, they discuss the role of the leader in setting the right tone from the top of the organisation and what it takes to communicate a clear and impactful vision.
A&O Consulting Learning CentreTraining, development and coaching of non-executive directors and senior management have continued to be a source of focus for boards and regulators alike.
In response, A&O Consulting has launched the Learning Centre, a global training programme for senior executives focused on the effective management of regulatory change. Topics covered comprise: risk management, governance, financial crime, conduct and culture, regulatory strategy and implementation.
The next episode of Selecting your Fund Domicile covers topical fund trends in Ireland. A&O Middle East Funds & Asset Management Partner Kamar Jaffer moderates a discussion about key legal, regulatory and sustainability trends in the funds space led by A&L Goodbody Partners, Brian McDermott and Stephen Carson.
In this episode of Allen & Overy’s Market Horizons podcast series, partners Amanda Thomas (London), Jonathan Heeringa (Amsterdam), Paul Péporté (Luxembourg) and counsel Jennifer Cresswell (London) from A&O’s International Capital Markets practice discuss the divergence ahead in the prospectus space from a debt security perspective.
Together they cover what is coming down the track on both the EU and UK sides as the review of both prospectus regimes progresses and the UK moves forward with its future regulatory reform programme.
In episode 5 of Deconstructing Crypto, Todd Fishman and Gene Ingoglia discuss the recent wave of regulatory actions by U.S. authorities on the crypto industry, and the increasing pressure on financial institutions and firms that provide access and services to crypto clients and markets.
They highlight some of the key events that have occurred since December, such as the collapse of Silicon Valley Bank, the withdrawal of Signature and Metropolitan from the crypto space, the denial of Custodia’s Fed membership, the National Economic Council’s policy statement on crypto clients, the DOJ’s probe into Silvergate, and the SEC’s charges against Terraform and potential action against Paxos.
They also explain the Securities and Exchange Commission's targeting of another digital asset market program, staking, and ongoing enforcement action in this space.
Todd and Gene analyze the implications of these developments for the crypto industry and the legal and strategic challenges that crypto actors face in navigating a complex and evolving enforcement landscape.
Tine Carmeliet, Juno Hautekiet and Geert Glas discuss how early-stage life sciences companies can survive the so-called “valley of death”. This is the funding gap between making a promising scientific discovery in a laboratory setting and the translation of the scientific findings into human applications and potential treatments for a disease, and is a widely recognized problem.
Our life sciences experts focus on the challenges growth companies face and why it is important to make the right legal decisions early on. They discuss, among other things:
the importance of properly organising seed funding during pre-clinical trial stages;
the maintenance of intellectual property rights and the potential impact of university-funded research; and
the unpredictable and expensive nature of clinical trials, and how to manage these challenges to successfully navigate the “valley of death”.
In this latest episode of Allen & Overy’s Market Horizons podcast series, join us in the first part of a whirlwind tour of several jurisdictions where we focus on international legal and regulatory developments to facilitate digital bond issuances.
We are joined by partners in A&O’s Debt Capital Markets team Justin Cooke (New York), Agnes Tsang (Hong Kong), and senior associate Philippe Noeltner (Luxembourg).
The second part of this podcast will look at how legal frameworks are changing in the UK and Europe. We will be joined by partners in A&O’s Debt Capital Markets team, Daniel Fletcher (London), Hervé Ekué (Paris), Salvador Ruiz (Madrid), Jonathan Heeringa (Amsterdam), counsels Daphne van der Houwen (Amsterdam), Daniela Schmitt (Frankfurt) and Emiliano La Sala (Rome), and senior associate Philippe Noeltner (Luxembourg).
In this podcast, A&O Partner Kamar Jaffer (Dubai) and Counsel Miao Wang (Luxembourg) discuss the key legal and regulatory trends in Luxembourg, a popular onshore jurisdiction for fund establishment.
This podcast forms part of Allen & Overy’s Selecting your Fund Domicile series. Selecting your Funds Domicile is a series of video podcasts that focuses on manager considerations for setting up a fund and choosing the most appropriate domicile. Featuring leading offshore law firms and A&O experts, these Q&A video podcasts explore some of the benefits and legal and regulatory considerations for offshore and onshore locations, including the British Virgin Islands, the Channel Islands, the Cayman Islands, Bermuda, Dublin, Cyprus, the Isle of Man, Mauritius and Luxembourg.
Singapore’s Personal Data Protection Act (PDPA) had its first comprehensive review since 2012. The review has changed the Personal Data Protection Commission’s (PDPC) enforcement powers, they can now impose fines of 10% of a company’s turnover under certain circumstances - what does this mean for your businesses?
The PDPC also recently released guidelines on ‘Personal Data Protection Considerations for Blockchain Design’. As businesses across the world are starting to deploy distributed ledger technologies some of these blockchain networks have started storing personal data. From a practical perspective, how does the PDPA affect businesses that are using blockchain technologies to process personal data?
Tune in to Cedric Lindenmann, Yu Jia Ang and Jessica Dye’s discussion on data protection developments in Singapore.
Sanctions began dominating the headlines again in 2022. Largely, reports focused on the ongoing sanctions targeting Russia. As we look ahead to 2023, Russia remains a target. Other countries (such as Belarus, China and Iran) are also under scrutiny. There is also increasing focus on sanctions enforcement. In this podcast, our experts consider these trends and what may be on the horizon for sanctions in 2023.
Topics include:
- sanctions targeting Russia;
- other the key sanctions targets (Belarus, China, Venezuela, Cuba, Iran, North Korea);
- sanctions enforcement trends;
- coordination between the UK, USA and EU;
- human rights and corruption-related sanctions; and
- challenges to sanctions legislation and in sanctions-related cases.
Speakers:
Matthew Townsend, Ken Rivlin, Maura Rezendes, Udo Olgemoeller, Jonathan Benson, Tom d’Ardenne, Thomas Declerck
Join our global environmental and sustainability experts as we discuss the trends and outlook across some of our major jurisdictions for 2023. We look at developments across the UK, Europe, Asia-Pacific and Africa and the implications of the regulatory landscape on businesses.
This episode was recorded in January 2023. The podcast does not go into detail on the expected regulatory changes directly focused on the financial services sector. These will be the subject of a separate podcast.
Following the indictments of senior FTX executives, two guilty pleas and related enforcement actions by the U.S. Securities and Exchange Commission and Commodity Futures Trading Commission, the digital asset space faced huge difficulties towards the end of 2022.
In addition, on January 3, 2023, the Federal Reserve, the FDIC (Federal Deposit Insurance Corporation) and the OCC (Office of Comptroller of the Currency) issued a joint statement highlighting “key risks associated with crypto-assets and crypto-asset sector participants.” Those risks included:
- risk of fraud and scams among crypto-asset sector participants
- legal uncertainties related to custody practices, redemptions, and ownership rights
- inaccurate or misleading representations and disclosures by crypto-asset companies,
- significant volatility in crypto-asset markets
- susceptibility of stablecoins to run risk
- contagion risk within the crypto-asset sector resulting from interconnections among certain crypto-asset participants
- risk management and governance practices in the crypto-asset sector exhibiting a lack of maturity and robustness
- heightened risks associated with open, public and decentralized networks
U.S. Litigation experts Todd Fishman and Eugene Ingoglia talk through these developments and what they might reveal about potential trends as we enter 2023.
In this first episode, our team of ASEAN data experts gave a high level update on the latest happenings in the Southeast Asia region, and how it make affect your businesses. Among other developments, we know that:
- The Indonesian government has recently passed the Personal Data Protection Bill.
- The very first data protection legislation in Thailand has finally come into effect in June 2022.
- The PDPA in Singapore has had its first comprehensive review since 2012.
Let our team of ASEAN data experts talk you through these developments, and what it means for your business.
Email us to get first hand news on these updates.
This podcast series features topical conversations with leading figures in the global banking industry.
In this new episode, Sir Win Bischoff, Chairman of JP Morgan Securities, talks to Sally Dewar, CEO of A&O Consulting, about the strategic opportunities and challenges facing banks.
Sir Win and Sally discuss the evolving nature of boards, the role and value of organisational culture and individual conduct and the impact of the COVID-19 pandemic. In particular, they look at how the pandemic has changed the way banks operate. Among the topics discussed, Sir Win and Sally reflect on the banks’ efforts to tackle decarbonisation and sustainability, the focus on DE&I and the impact of the current economic and political environment.
This episode was recorded in November 2022.
In this podcast, Hilaire Bedier, Codrina Constantinescu and Emma Danforth discuss some of the key regulatory changes on the horizon which asset managers and funds should have on their radar as we move towards 2023, including the hot topics of the retailisation of funds and ESG.
This podcast forms part of the Great Fund Insights series, a global resource providing practical insights into legal and regulatory developments affecting fund managers and institutional investors across Europe, Asia, Africa, the Middle East and the U.S.
How can organisations approach and manage behavioural risks, and focus their efforts with a strategic, structured approach? In this podcast, leader of the Organisational Behaviour practice within A&O Consulting, Clive Garfield, talks about the issues with Wieke Scholten, head of the Behavioural Risk practice in &samhoud.
A&O partner Kamar Jaffer (Dubai) discusses key legal and regulatory trends in the Cayman Islands with our guest speaker Philip Ireland, a Dubai-based partner at the Maples Group.
This podcast forms part of Allen & Overy’s Selecting your Fund Domicile series. Selecting your Fund Domicile is a series of video podcasts that focuses on manager considerations for setting up a fund and choosing the most appropriate domicile. Featuring leading offshore law firms and A&O experts, these Q&A video podcasts explore some of the benefits and legal and regulatory considerations for offshore and onshore locations, including the British Virgin Islands, the Channel Islands, the Cayman Islands, Bermuda, Dublin, Cyprus, the Isle of Man, Mauritius and Luxembourg.
About the Speaker Philip Ireland is the Dubai office joint Managing Partner of Maples and Calder, the Maples Group's law firm, where he is also head of the Dubai Funds & Investment Management team. He specialises in collective investment schemes, in particular private equity funds, venture capital funds, real estate funds, and Shariah compliant (Islamic) funds. He also has experience of working with family offices, ultra-high net worth individuals. Philip’s clients include asset managers in the Dubai International Financial Centre (DIFC) and the MENA region.
Following publication in October of our client podcast “Annual Reports and AGMs- what you need to know this year” we have produced a supplemental podcast covering the recent update to the Pre-emption Group Statement of Principles, including the changes clients should consider making to their AGM dis-application of pre-emption rights resolutions in 2023 and our view on the possible impacts of the PEG update on secondary equity capital raisings.
Severe liquidity issues continue to plague large digital asset trading platforms. Most recently, FTX and its affiliated trading arm Alameda filed for protection under chapter 11 of the U.S. bankruptcy laws. With this news, the liquidity and capital problems spread to others in the crypto ecosystem. BlockFi, a cryptocurrency trading and lending platform, suspended withdrawals by its users and then filed for bankruptcy protection as well.In this third episode, Litigation Partners Todd Fishman and Eugene Ingoglia explore these developments and provide an acute overview of the so-called “insider trader” prosecutions in digital asset space.
In this episode of Allen & Overy's Market Horizons podcast Series, U.S. Project Finance Partner Sam Kamyans, is joined by Muireann Mageras, Head of Environmental Strategy & Advisory at Vertree, an integrated carbon solutions provider wholly owned by Hartree Partners, to provide an in depth view of key financing developments in the voluntary carbon credits (VCC) markets.
Our speakers discuss the voluntary carbon credit markets, focusing on how voluntary elements can accelerate the energy transition while reducing overall carbon footprints. As the market evolves, voluntary carbon credits can generate a revenue stream that can be used to finance projects that remove carbon emissions from an industrial process.
The speakers go on to differentiate voluntary credits from regulatory credits, noting the strong market based solutions available when emitters choose to participate in a voluntary system.
Notably, they discuss that the imperatives to do this increasingly come from financial markets, as the rise of ESG and sustainability-linked financing, paired with increasing consumer awareness and pressure from younger generations of buyers as well as shareholders alike, have prompted corporates to think more about these issues.
Partner David Lee, partner and head of the global infrastructure group, senior associate Victoria White, and Phil Beattie, head of strategic relationships at SparkChange, join Brenna Speiser, senior manager at Fuse, A&O’s tech innovation hub, to discuss how investment in infrastructure and carbon markets (mandatory and voluntary) can work together to drive decarbonisation.
The speakers explore the interaction between developments in infrastructure, technology, and policy required to transition to low-carbon energy, and the market structures which can support this effort.
SparkChange helps investors to meet specific decarbonisation objectives by integrating the global finance industry directly with carbon markets. Its specialist carbon investment products and data allows both financial returns and positive environmental impact.
The next two podcasts focus on topical fund trends in the Channel Islands, presented by expert speakers at law firm Ogier. Our discussion starts with Guernsey and features Tim Clipstone, a Guernsey based partner at Ogier.
This podcast forms part of Allen & Overy’s Selecting your Fund Domicile series. Selecting your Fund Domicile is a series of video podcasts that focuses on manager considerations for setting up a fund and choosing the most appropriate domicile. Featuring leading offshore law firms, these Q&A video podcasts explore some of the benefits and legal and regulatory considerations for each offshore location, including the British Virgin Islands, the Channel Islands, the Cayman Islands, Bermuda, Dublin, Cyprus, the Isle of Man and Mauritius.
About the speaker
Tim Clipstone is an experienced funds, regulatory and corporate lawyer with a particular focus on all aspects of the life cycle of hedge, private equity, venture capital fund and alternative asset management structures domiciled in Guernsey and BVI, as well as corporate M&A and restructuring. He is consistently recognised as a leading practitioner by Chambers, Legal 500 and IFLR.
In this episode of Propel, host Paul Keller sits down with Joshua Gans, Professor of Strategic Management and holder of the Jeffrey S. Skoll Chair in Technical Innovation and Entrepreneurship at the Rotman School of Management at the University of Toronto. He is also the Chief Economist of its Creative Destruction Lab.
This discussion covers trajectory of the car industry from the past to the future and its impact on the monetization model. The two also deliberated over the scope of intellectual property issues, including patent litigation and trade secret misappropriation, and whether these issues impact the whole car or individual parts.
We are delighted to launch Selecting your Fund Domicile, a new series of podcasts that features offshore law firm experts and focuses on manager considerations for setting up a fund and choosing the most appropriate domicile.
In the inaugural episode of Selecting your Fund Domicile Middle East-based partner Kamar Jaffer (Funds) discusses topical fund trends in the British Virgin Islands with Paul Waldron and Tom Cochrane, both partners at Walkers law firm.
This podcast forms part of the Great Fund Insights series, a global resource providing practical insights into legal and regulatory developments affecting fund managers and institutional investors across Europe, Asia, Africa, the Middle East and the U.S.
The UAE is developing its financial crime compliance credentials in order to position itself as a global leader and innovator in the cryptoassets space. This means that a proper understanding of the intersection between AML/CTF considerations and cryptoassets regulation is essential for those involved or interested in the cryptoasset landscape in the UAE.
In this episode, Middle East-based senior associates Victoria Ferres (Financial Services Regulatory) and David Berman (Litigation, Investigations and Contentious Regulatory) discuss the unique AML and CTF issues relevant to cryptoassets in the UAE and explore recent regulatory developments in this space in the UAE.
This podcast will be of interest to legal practitioners, individuals working in any financial services sector and other designated non-financial businesses or professions, and those interested in cryptoassets generally. It forms part of a series where we will be focusing on key considerations relevant to the developing cryptoasset landscape in the UAE.
US federal tax treatment can be relevant to funds in a variety of contexts and provides a range of risks and benefits depending on the type of investor.
In this podcast episode, Middle East-based Partner Kamar Jaffer (Funds) and US-based Senior Counsel Caroline Lapidus (Tax) discuss the key US tax considerations relevant to any funds with either US or sovereign investors or activities and investments in the US.
This podcast forms part of the Great Fund Insights series, a global resource providing practical insights into legal and regulatory developments affecting fund managers and institutional investors across Europe, Asia, Africa, the Middle East and the U.S.
In our latest podcast our team of A&O experts bring you up to speed with the key issues company secretaries and their teams need to think about when preparing for their next Annual Report and AGM.
These include:
diversity on boards and in executive management; market trends and new requirements for environmental and climate reporting; current high profile aspects of remuneration reporting; and best practice for the format and business of AGMs in 2023.
In September 2022, the U.S. Department of the Treasury released a series of reports regarding the development of digital asset markets.
In one of the reports, titled Implications for Consumers, Investors and Businesses, the Treasury Department, highlighted a series of “conduct risks” associated with crypto assets.
The U.S. Department of the Treasury observed: “Crypto-assets and markets that operate out of compliance with applicable laws and regulations, or are unregulated, can breed fraud, abusive market practices, and disclosure gaps. Certain practices in the crypto-asset ecosystem have resulted in financial harm to consumers, investors, and businesses; unfair and inequitable outcomes; and damage to the integrity of the market.”
As mentioned in our first installment of Deconstructing Crypto, standalone violations of the federal wire fraud, bank fraud and securities fraud statutes could be packaged together as a potential charge under the U.S. Racketeer Influenced and Corrupt Organizations Act (RICO) statute. In this second episode, New York Litigation Partners Todd Fishman and Eugene Ingoglia take us through an explanation of:
- What is RICO?
- The elements of a RICO Charge
- Criminal applications to digital assets
- Civil applications to digital assets
In this podcast, Greg Brown (Partner, London) and Joanna Pecenik (Counsel, Luxembourg) discuss sustainability-linked fund financing: what it is, the main EU regulatory drivers and the key issues that fund managers and lenders need to consider when agreeing terms to document a sustainability-linked fund financing.
Topics discussed in this podcast include:
- Sustainability-linked lending in the context of fund finance
- Key EU and UK regulatory drivers towards sustainability-linked financing for limited partners and fund managers
- Key issues that fund managers and their lenders need to consider when agreeing terms to document a sustainability-linked fund financing
- How participants in sustainability-linked financings can look to protect themselves from accusations of ‘Greenwashing’
- What we see on the horizon.
In our latest episode of Propel, host New York IP partner Paul Keller and guest speaker Kurt Niebuhr of Microsoft discuss the artificial intelligence (AI) platform Azure and its impact on self-driving cars.
Kurt leads the High-Performance Computing (HPC) AI Workload Incubation team within Azure Engineering. The episode takes a deeper dive on the platform’s cloud computing capabilities, testing scenarios and performance feedback, the partner ecosystem, and the challenges ahead as the commercialization of autonomous vehicles continues to grow.
Consumer protection and data privacy are at the heart of the constantly evolving cryptoasset regulatory regime in the UAE.
In this episode, Middle East based senior associates Victoria Ferres (Financial Services Regulatory), David Berman (Litigation, Investigations and Contentious Regulatory) and Ravinder Mattu (Technology and Data Protection) explore why consumer protection and data privacy considerations are so important in the cryptoasset space and the measures that are in place in the UAE in order to protect consumers and manage data privacy issues in respect of cryptoassets.
They will explore the key consumer protection considerations relevant to cryptoassets under the various ‘onshore’ and ‘offshore’ legal jurisdictions which make up the UAE and also data protection regulations which apply to cryptoassets and distributed ledger technology, or DLT, and the key challenges which arise from this.
This podcast will be of interest to anyone involved in the crypto space or who is seeking to become involved in the crypto sector in the UAE, or in the broader GCC region.
This podcast forms part of a series where we will be focusing on key considerations relevant to the developing cryptoasset landscape in the UAE
In this first episode, New York-based partners Todd Fishman and Eugene Ingoglia focus on disruptive trading practices, such as front-running, insider trading, and cross-market manipulation.
In this episode of Allen & Overy's Market Horizons podcast series, Derivatives & Structured Finance Senior Associates, Victoria White and Kate Whelan (London), and International Capital Markets Counsel, Christian Kloepfer (Frankfurt) provide an introduction to the mandatory and voluntary carbon markets and highlight some of the key expected developments. They also provide an overview of some of the questions we are receiving from derivatives clients.
Listen to Steve Wood, our special advisor on data protection, and Emma Keeling, Senior PSL, discuss the broader implications of the UK’s Data Protection and Digital Information Bill.
Among the topics discussed, Steve considers the impact that the changes may bring for business when thinking about juggling compliance with multiple data protection regimes, effecting international data transfers, maintaining the UK’s adequacy status, and reforming the ICO.
As the UK regime evolves, what is the bigger picture and what does it mean for your organisation?
For further information on the UK data protection reforms, read Steve Wood’s blog here.
One of the key advantages of distributed ledger technology networks is that they eliminate the need for a central authority to keep a check against manipulation. The very nature of a decentralized ledger makes them immune to cyber-crime, as all the copies stored across the network need to be attacked at the same time for the attack to be successful, which is practically impossible.
In this episode, Middle East based senior associates Victoria Ferres (Financial Services Regulatory and Ravinder Mattu (Technology and Data Protection) focus on distributed ledger technology and its practical implications in the UAE.
This podcast will be of interest to anyone involved in the crypto space or who is seeking to become involved in the crypto sector in the UAE, or in the broader GCC region.
This podcast forms part of a series where we will be focusing on key considerations relevant to the developing cryptoasset landscape in the UAE.
In this new episode, Paola Bergamaschi Broyd, a senior independent non-executive director, talks to Sally Dewar, CEO of A&O Consulting, about the strategic opportunities and challenges facing banks in the near to medium term.
Paola and Sally discuss the role and value of organisational culture and governance for banks and the challenges facing boards and senior management arising from the widespread adoption of remote and hybrid working. In particular, they look at the wider impact of these changes on the development and retention of talent and the need to respond to the evolving expectations of employees and regulators.
Among the other topics discussed, Paola and Sally reflect on banks’ efforts to tackle decarbonisation and sustainability, the focus on DE&I and the effectiveness of how banks are approaching the goal of making their organisations and their boards more diverse and inclusive.
This episode was recorded in May 2022.
In this episode of Allen & Overy’s Market Horizons podcast series, partners in A&O’s International Capital Markets practice, Amanda Thomas (London), Tom Grant (London) and Julien Sebastien (Paris), together with Jennifer Cresswell, counsel in A&O’s International Capital Markets practice, discuss green bonds in the mainstream debt capital markets. Together, they cover disclosure in relation to use of proceeds bonds, contractual protection and the re-labelling of bonds as green bonds, before contemplating what might be coming down the track in terms of a legal framework for green bonds.
A flurry of initiatives are tightening rules around crypto advertising in the UK. In this episode, our regulatory experts, Ben Regnard-Weinrabe, Gregory Talbot and Jamie Greenwood explain what's happening and why it matters.
Topics covered in this podcast include:
- The proposals to extend the financial promotions regime to unregulated cryptoassets
- Who will be caught by the extension of the financial promotions regime
- What they need to do to comply with the new regime
- When the extension of the financial promotions regime to unregulated cryptoassets is expected to take effect
A flurry of initiatives are tightening rules around crypto advertising in the UK. In this two-part series, our regulatory experts, Ben Regnard-Weinrabe, Anna Lewis-Martinez and Rory Copeland explain what's happening and why it matters.
Topics covered in this podcast include:
- How crypto assets are regulated today in the UK
- What new requirements have come into effect and what’s expected to apply in future
- Why UK authorities are expediting the extension of advertising requirements for cryptoassets
- The key features of the ASA guidance on cryptoasset advertising
- How can the ASA enforce its decisions?
- Recent proposals for a new online advertising regulator within the UK
The UAE’s ambitious plan to establish itself as a regional hub for fintech and payments firms has led to the recent introduction of a host of legislation both in the mainland UAE and in the financial freezones, designed to bring certain cryptoassets and activities connected with cryptoassets within scope of regulation.
In this episode, Middle East based senior associates Victoria Ferres (Financial Services Regulatory) and David Berman (Litigation, Investigations and Contentious Regulatory), provide:
- an introduction to cryptoassets
- an overview of the key legal considerations relevant to cryptoassets in the UAE
- insights into the key regulatory regimes governing crypto in the UAE, implemented both in mainland UAE as well as in the UAE’s financial free zones.
This podcast will be of interest to anyone involved in the crypto space or who is seeking to become involved in the crypto sector in the UAE, or in the broader GCC region.
In this episode, Paul Sampson, speaks with Michelle Thomsen, General Counsel at Queensland Investment Corporation (QIC) about her career and advice for others in the institutional investor space.
This episode of Allen & Overy’s Market Horizons podcast series focuses on the EU Securitisation Regulation and the UK Securitisation Regulation regimes, in particular, restrictions on the use of third country special purpose vehicles (SPVs).
New York-based M&A partner Dario de Martino is joined by head of corporate development at Bitstamp Eva Gartner, and Chief Executive Officer at Imperii Partners Tony Scuderi in our latest crypto-focused podcast. Covering the key drivers of blockchain M&A, and valuation and due diligence trends and issues.
New York-based M&A partner Dario de Martino is joined by head of corporate development at Bitstamp Eva Gartner, and Chief Executive Officer at Imperii Partners Tony Scuderi in our latest crypto-focused podcast. Covering the key drivers of blockchain M&A, and valuation and due diligence trends and issues.
What role does intellectual property play in the metaverse and do clients need to change their behaviour towards their brands and copyright?
In this podcast, members of A&O’s global IP group, Victoria Pied, Elise Romelly and Beverley Potts, discuss the trade mark, design and copyright issues raised by the metaverse.
In this edition of our Allen & Overy Advanced Delivery podcast we discuss how the in-house legal function has changed, what this means for law firms and how technology plays a key role in the evolution of the legal landscape. We invited Caroline Coesemans (Head of Legal BeNeLux & Nordics at Google Belgium) and Laurens De Koster (Legal Counsel at BNYM in Belgium) to share their experiences and views with us!
What is the metaverse, who controls it and what does it look like?
In this podcast, members of A&O’s international IP group, Victoria Pied, Elise Romelly, Laetitia Nicolazzi and Beverley Potts, discuss the fundamentals of the metaverse and how it is quickly evolving to mimic reality.
In this episode of Allen & Overy’s Market Horizons podcast series, partners in A&O’s Debt Capital Markets team, Daniel Fletcher (London), Hervé Ekué (Paris), Salvador Ruiz (Madrid) and senior associate Philippe Noeltner (Luxembourg) look at what the future may hold for the capital markets. Together, they discuss Digital Bonds – which some are calling the future of debt capital markets – and look at some of the potential benefits and challenges of adopting these new structures.
Glossary:
- Digital Bond / Blockchain Bond - a wholly dematerialised bond that is issued, registered, settled, transferred and custodied natively using DLT.
- DLT / Distributed Ledger Technology - a set of protocols which enable data to be securely and accurately created and stored on a shared, de-centralised database, generally using cryptography. New information – representing records of transactions – is recorded on the distributed ledger only after validation by multiple computers (referred to as nodes) using a pre-agreed consensus mechanism.
- Blockchain - the most common example of DLT, and is so-called because each new transaction or bundle of transactions is recorded in a new ‘block’ of data which, once validated by the system, is added to the end of the existing sequential blocks of information (like adding links to a chain).
In this episode, New York Intellectual Property partner Paul Keller sits down with New Jersey Department of Transportation Commissioner Diane Gutierrez-Scaccetti.
New Jersey recently announced a $5 million grant for the Trenton Mobility & Opportunity: Vehicles Equity System or MOVES Project. The grant to the City of Trenton will support the planned start up and eventual deployment of 100 Autonomous Vehicles that will provide an on-demand automated transit system to serve the 90,000 residents of Trenton.
In this episode, Diana Billik, head of our Paris Capital Markets practice, and New York-based Capital Markets partner Justin Cooke give a concise overview of the proposed climate disclosures put forward by the U.S. Securities and Exchange Commission that SEC registrants (both domestic and foreign) would be subject to.
They discuss: corporate governance and risk management in relations to a climate focused framework; climate related impacts to financial statements; greenhouse gas emission under the proposal (Scope 1, Scope 2 and Scope 3 disclosure mandates), including companies’ own emissions and their supply-chain emissions; and how the proposal could apply to current net-zero carbon emission goals.
In the third episode of our podcast series featuring topical conversations with leading figures in the global financial services industry, capital markets partner Tim Conduit speaks to Christian Leitz, Head of Corporate Responsibility and Corporate Historian at UBS, Duncan Lee, Director of Investment ESG at AIA and Jenn-Hui Tan, Global Head of Stewardship and Sustainable Investing at Fidelity International, about what sustainability means for a bank, insurer and asset manager.
The group discuss the evolving landscape of sustainable finance, the future of a net-zero economy, the role boards and senior management should play in moving the industry in the right direction, and the position of financial institutions in driving meaningful collaborative change.
This episode was recorded in February 2022.
Why are divisional patent applications important to consider when litigating a parent patent?
In this podcast, Rafi Allos, Erin Currie and Elizabeth Taylor, members of our intellectual property team, discuss litigating divisional patents and the strategies used when such patents are in play, such as Arrow declarations, issue estoppel and case management.
In this podcast Nikki Johnstone and Jamie Greenwood, members of Allen & Overy's payments regulatory practice, and Claire Haydon from the A&O Consulting team discuss the key legal and practical implications of the latest FCA proposals for the Consumer Duty for payments and e-money firms, including what they need to do to prepare for the April 2023 deadline.
Topics covered in this podcast include:
- What the new Consumer Duty regime is.
- What type of customers the new Consumer Duty applies to.
- What the changes mean for payments and e-money firms in relation to existing and future products.
- Implications for governance and considerations for senior management.
- Top tips - what steps payments and e-money firms should be taking to prepare.
Funds and Asset Management Counsel, Kamar Jaffer is joined by Andrew Pitts-Tucker, Global Head of ESG at Apex ESG Ratings to discuss ESG integration into investment decision-making, data collection, reporting and measuring impact both at a global level and in the Middle East.
Topics discussed in this podcast include:
- The momentum building around the Middle East ESG’s agenda.
- Observations on managers/GPs and portfolio companies including what they are doing to integrate ESG and sustainability considerations into their investment decision-making process and how they are measuring the impact.
- The top areas of focus from a GP and investor’s perspective and how to address them.
- The ESG outlook in the Middle East for 2022 and beyond.
This Great Fund Insights podcast will be of interest to sovereign wealth funds, institutional investors, family offices, fund managers and portfolio companies with a focus on the Middle East.
As part of the Institutional Investor Forum, Allen & Overy’s client-facing diversity and inclusion initiative, we’re delighted to share our latest podcast in the ‘How I Made It’ series which showcases high-flying women in leading roles across the industry.
In this podcast, Paul Sampson, speaks with Head of Group General Counsel Operations, Tamara Franks at USS about her career journey and advice for others in the institutional investor space.
Topics in this podcast include:
- Tamara’s career journey
- The importance of diversity and inclusion in the industry
- The role of sponsorship and role models in career development
- Advice to those starting their career.
2021 was a record year for M&A transactions globally, with the global value of M&A transactions topping USD5 trillion for the first time. Technology M&A in Asia was, and still is, especially buoyant, particularly in the fintech and digital assets space. In this podcast, our lawyers discuss the following key topics:
- How extensive amounts of capital looking to be deployed by financial sponsors, including PE and VC investors, coupled with the knock-on effects of the pandemic, are driving activity in the rapidly maturing emerging markets in ASEAN.
- On the fintech front, opportunities are being created as a result of the lack of financial inclusion in various ASEAN economies. Even today, in countries such as Indonesia, Malaysia and the Philippines, less than 40% of adults have bank accounts. This creates an opportunity to tap into the unbanked, which is leading to activity both in the start-up space, and, additionally, driving the next wave of M&A. There are many examples – international banks are investing in local banks with a view to turning them into a new surge of neobanks, and the insurance and wealth management sectors are seeing organic and M&A disruption.
- IP is fundamental to value and a key part of investors’ focus when undertaking these transactions. Investors need to understand the origin of the IP, who’s been working on it and who owns what as an output of the M&A/commercial collaboration.
- The need for investors to understand the different regulatory frameworks when assessing targets, including the importance of the regional FDI licensing landscape, the data and IP restrictions in local jurisdictions, and AI – in respect of which regulations on its application and restrictions remain largely untouched in Asia.
The podcast is moderated by Victor Ho, co-lead of our APAC technology practice, with discussion from Sydney-based Saranpaal Calais, who specialises in technology transactions in APAC, and Singapore-based Tom Jokelson, who advises on M&A and growth capital transactions in various technology sectors.
Access our latest issue of M&A Insights, where we examine the drivers behind the boom in technology M&A, digital infrastructure deals, and software investments.
This timely discussion is part of a series of Allen & Overy conversations on opportunities in alternative investments across our global funds network.
Partner, Antoine Sarailler and counsel, Kamar Jaffer, put the spotlight on France as they discuss opportunities in alternative investments and market trends from the manager and investor perspective.
Topics discussed in this podcast include:
- How managers have navigated the challenges of Covid-19
- Investment strategies and opportunities that institutional investors are focusing on in France and Europe
- Thoughts on the upcoming French election
- Trends in relation to ESG
- Outlook for 2022 and beyond
This Great Fund Insights podcast will be of interest to fund managers and institutional investors with a focus on France and the European market.
In this first of a series of podcasts, members of Allen & Overy’s global fintech and crypto practice, Ben Regnard-Weinrabe (London), Isabella Karlsson (Silicon Valley), Andre Da Roza (Hong Kong) and Louise Utting (London) take a look at what non-fungible tokens (NFTs) are, review the NFT market players, and discuss some of the legal and regulatory risks to look out for.
In the second episode of our podcast series featuring topical conversations with leading figures in the world of banking, Sir Douglas Flint, chairman of global investment company and asset manager abrdn, talks to Richard Cranfield, senior adviser and former chairman of A&O’s global corporate practice, about the developments shaping the future of the industry. Sir Douglas discusses the competitive challenge posed by a raft of new digital market entrants, the state of banking regulation, and the preparedness of banks for the transition to net zero.
In a wide-ranging conversation, Sir Douglas reflects on his career and the experiences that have shaped it, particularly his time as chairman of HSBC, and what personally motivates him in his current role at abrdn. He shares his thoughts on the evolving responsibilities and accountabilities of boards and their directors, the need for boards to define their purpose clearly, and how that can help to identify the skills needed by directors.
This episode was recorded in October 2021.
In this episode, New York Partner, Paul Keller, talks with Sid Venkatesan, the Chief Legal Officer of Embark.
By choosing collaboration over competition, Embark has secured its spot as the longest running self-driving truck program in America. Listen to Paul and Sid as they discuss the company, its goals, the self-driving technology involved, the impact it may have on human truck drivers, and the overall sea-change that Embark is leading to make long-haul trucking safer, sustainable, and more efficient.
This timely discussion is part of a series of Allen & Overy conversations to explore different perspectives on ESG in the Middle East with key industry players in the region.
Funds and asset management counsel, Kamar Jaffer is joined by Vasuki Shastry, ESG and Strategic Communications Advisor. They discuss the role consultants can play in identifying and managing ESG factors within the Middle East.
Topics discussed in this podcast include:
- Private equity managers commitment to ESG in the Middle East
- The approach to integrating ESG related principles into systems and processes
- The approach on ESG from the due diligence phase through to the post-investment assessment
- Common themes across the Middle East, Europe and Asia
- Areas of focus of private equity managers with portfolio companies
- Outlook for ESG in the Middle East for the coming year and beyond
This Great Fund Insights podcast will be of interest to sovereign wealth funds, institutional investors, family offices, fund managers and portfolio companies with a focus on the Middle East.
In our latest edition of Trust Us, a podcast addressing hot topics for trustees and agents in Asia Pacific, Holly Hart from our Corporate Trust & Agency team moderates a discussion on the key considerations for the retirement or substitution of trustees and agents in the context of bonds, and a best practice guide to dealing with bond defaults.
Exit Strategy – Key Considerations for the Retirement or Substitutions of Trustee and Agents
There are various reasons why a trustee or agent may wish to exit a current role – it could be due to a regulatory or licensing regime change, because of a commercial decision, or sometimes it may be the consequence of a bond default, when the issuer has been drawn into court-sanctioned on-shore restructuring proceedings. Holly Hart and Katherine Signy share their thoughts on the steps trustees and agents should take when considering extracting themselves from matters that are commercially or practically untenable. The speakers also highlight a range of possible scenarios and share tips on how to deal with potential pitfalls and successfully navigate an exit.
The Defaults Playbook – Best Practice for Trustees and Agents
Given the significant uptick in bond defaults over the last two years, Tim Beech, Head of our APAC Corporate Trust & Agency team provides listeners with a detailed guide to bond defaults in Asia. Tim covers:
- The process of a bond default and any actions that may occur
- The role of trustees
- Considerations when notifying and communicating with bondholders
- Dealing with conflicting instructions from bondholders
- The importance of indemnification and pre-funding.
The Trust Us series presents succinct overviews of hot topics for trustees and agents in APAC, and these podcasts are based on webinars hosted for clients. Please note this episode was recorded on 16 November and references developments occurring at that time.
In this podcast, Amanda Thomas, partner and Jennifer Cresswell, counsel in our International Capital Markets practice, share a short round-up of UK and EU prospectus and listing regulation developments post-Brexit, and what we expect to see in the near future.
With Brexit now nearly a year ago, the UK authorities are taking steps to move away from EU regulation that was onshored at the end of the transition period. A “summer of consultations” saw the UK authorities busy on various fronts. HM Treasury consulted on possible changes to the UK prospectus regime and the Financial Conduct Authority tackled the questions of listing and primary markets effectiveness, and will inevitably be involved in further UK prospectus-related developments down the track. With the European Commission also gearing up to report on the application of the EU Prospectus Regulation, it seems that the slew of consultations may turn 2022 into a year of divergence.
The Listing Act consultation referred to briefly in the podcast was published by the European Commission on 19 November, after the podcast was recorded. We will be reviewing the consultation ahead of its closing date of 11 February 2022.
Funds and asset management counsel, Kamar Jaffer is joined by Emmanuel Givanakis, Chief Executive Officer of the Financial Services Regulatory Authority at the ADGM. They discuss the role regulators can play in identifying and managing ESG factors within the Middle East.
Topics discussed in this podcast include:
ADGM’s approach to regulatory requirements in respect of ESG
- Regional and national policy options to reinforce best practices and grow green finance
- Key areas of focus from a regulatory perspective
- How ADGM are supporting ESG roadmaps nationally and internationally
- ADGM’s sustainability goals for harmonisation
This Great Fund Insights podcast will be of interest to sovereign wealth funds, institutional investors, family offices, fund managers and portfolio companies with a focus on the Middle East.
In this podcast MaameYaa Kwafo-Akoto, partner in the Institutional Investor practice, discusses with Kuang Chiang, Senior Counsel in the Sanctions & Regulatory Group, issues relevant to institutional investors on sanctions and what to consider before investing into a fund.
The discussion explores topics such as:
- What are sanctions?
- The important factors an investor should consider before investing into a fund
- What is a block or frozen payment?
- What does it mean to be a U.S. person
Driven by changing attitudes and economic priorities, Japan remains a powerful outbound investor and is becoming an increasingly popular destination for inbound transactions. Despite economic, social and political uncertainties, Japanese investment into the U.S., increasingly in the technology sector, is thriving. In this short podcast, our partners discuss the following key topics:
- The diversification of Japanese investments in the U.S., from the traditional manufacturing sector, into the technology and green energy spaces.
- How earn-outs are structured and why this makes a deal more attractive for both the Japanese buyer and the U.S. counterpart, but be warned – earn-outs are not without their risks and complications!
- How the Biden administration has affected the regulatory hurdles facing Japanese investors. Jumping these hurdles can be a time consuming task and Japanese companies must factor this in to their timelines. Over the past year, over 300 transactions, particularly in the computer manufacturing and software development spaces, were subject to CFIUS. The CFIUS risk profile of a target should be carefully considered by Japanese investors. The podcast is moderated by Japan based partner Nick Wall, with discussion from New York based Dario de Martino and Japan based Tokutaka Ito.
This podcast series features topical conversations with leading figures in the global banking industry about current and emerging strategic issues facing banks.
In this first episode, financial services entrepreneur Nick Ogden, founder of ClearBank and WorldPay, talks to Richard Cranfield, senior advisor and former chairman of A&O’s global corporate practice, about innovation in banking, his new venture RTGS.global, a cross-border liquidity network, and what it takes to be a digital innovator.
Nick shares his thoughts on a range of issues including the role and impact of ‘atomic settlement’ on cross-border interbank payments, central bank digital currencies, the future of work and his personal approach to identifying opportunities for innovation and change.
This episode was recorded in August 2021
Corporate partner David Foster is joined by Iqbal Khan, Chief Executive Officer at Fajr Capital. They discuss the role private equity can play in identifying and managing ESG factors within the Middle East.
Topics discussed in this podcast include:
- Identifying and managing ESG factors within investment and portfolio management processes
- Examples of ESG factors in fund investments
- ESG and the post-investment phase
- Areas of convergence between Shari’a and ESG
- Outlook for ESG in the Middle East for the coming year and beyond
The European Union’s Taxonomy Regulation, which provides a common classification framework for defining the environmental sustainability of business activity, is intended to help promote ‘green’ investment and help the EU to accelerate its transition to a sustainable economy. In practice, it has created a set of formidable challenges for companies, banks and the broader investment community on how to identify, align and report their activities.
In this podcast, Shruti Ajitsaria, partner and head of Fuse, A&O’s tech innovation space, is joined by Matt Townsend, partner and co-head of A&O’s global environment and climate law group, Elizabeth Gillam, head of EU government relations and public policy at Invesco, and Alexander Stevens, CEO of Greenomy, to discuss the goals and scope of the EU’s Taxonomy Regulation, its reporting requirements and the practical issues that organisations should consider.
In our latest podcast our team of A&O experts bring you up to speed with the key issues companies secretaries and their teams need to think about when preparing for their next Annual Report and AGM. These include:
- new requirements for annual reports this year, including in relation to climate related financial disclosures and the European Single Electronic Format (ESEF)
- proposed changes to the Listing Rules and the Disclosure Guidance and Transparency Rules in relation to diversity reporting, and developing market practice in this area
- executive remuneration and remuneration reporting, including the growing trend for ESG-metrics in companies’ long-term performance conditions, linked to remuneration outcomes
- best practice for AGMs in 2022
- climate-related AGM resolutions
Related contacts: Paul McCarthy, Matthew Townsend, Kate Astley, Victoria Rankmore, Isabella Kelly, Katie James
As the MiFID Review progresses at the UK and EU level, our financial services regulatory experts will be analysing the proposals. In the first of a series of podcasts, we take a look at what HM Treasury is proposing in the context of the transparency regime in their Wholesale Markets Review.
Related contacts: Damian Carolan, Nick Bradbury, Oonagh Harrison, Kelesi Blundell
How will recent legislative updates in Germany affect patent litigation? In this podcast, Partner Stephan Neuhaus and Associate Erin Currie, both members of our intellectual property team, discuss the injunction gap, proportionality and final injunctions
Catie Butt, A&O Consulting’s executive director, and senior consultant Tom Wilkinson discuss the role and value of outsourcing and how it can improve the efficiency and effectiveness of the in-house legal function’s operations. They outline the main issues that General Counsel, heads of legal operations and those responsible for legal innovation should consider and highlight some of the common pitfalls to avoid.
In our latest edition of Trust Us, a podcast addressing hot topics for trustees in Asia Pacific, Holly Hart from our Corporate Trust & Agency team moderates a discussion covering the role of Advanced Delivery services in creating efficiencies and considerations for LIBOR remediation.
Trustees, agents and tech - competing in an advanced-delivery world
Technology is rapidly changing the way we work. Alana Burton from our Dubai office talks about the latest in Advanced Delivery and how trustees and agents can maximise the benefits of advanced delivery, such as LegalTech, project management or flexible resourcing options, to create significant project efficiencies.
The LIBOR Sunset - trustee and agent readiness and how we can help
The end is near for LIBOR and trustees and agents are preparing for the transition. Louisa Ingham from our London office shares the latest on the transition to risk-free rates and explains the types of deals that could fall under LIBOR remediation, as well as key considerations for the process.
You will also hear from Tim Beech, Head of our Asia Pacific Corporate Trust & Agency team on what he is keeping in view at present, such as the growing trend for holders to consider replacing trustees on defaulted bonds.
The Trust Us series presents succinct overviews of hot topics for trustees in the APAC market and these podcasts are based on webinars hosted for clients. Please note this episode was recorded on 9 September 2021 and references developments occurring at that time.
Blockchain is becoming a technology deployed in many innovations across a wide range of industry.
In this podcast, Michelle Wang and James Reed, associates in our IP litigation team consider the patenting landscape and the potential opportunities and IP risks associated with digital ledger technologies.
In this podcast series EFIC1 Chief Investment Officer, Ben Davey, talks about its choice to do a SPAC IPO and how to find a suitable business combination.
In this podcast series EFIC1 Chief Investment Officer, Ben Davey, talks about its choice to do a SPAC IPO and how to find a suitable business combination.
In this podcast series EFIC1 Chief Investment Officer, Ben Davey, talks about its choice to do a SPAC IPO and how to find a suitable business combination.
In this podcast series EFIC1 Chief Investment Officer, Ben Davey, talks about its choice to do a SPAC IPO and how to find a suitable business combination.
SEPs and FRAND – two legal issues that have resulted in global patent disputes in the mobile device space is now beginning to make its presence known in the automotive industry.
Paul Keller, our New York partner and host of Propel, sits down with three legal experts to discuss the issues from a global perspective: From China, Jill Ge, one of A&O’s IP litigation colleagues; from France, partner David Por; and from the United Kingdom, partner Mark Ridgway.
Collectively, this group has over 25 years of experience addressing SEP/FRAND issues, and in this episode, they walk us through a basic understanding of what these patents are, the legal issues they raise, and what to consider as the global disputes begin to take shape.
There is increased SPAC activity in the Asia Pacific region, with most of the recent activity focused on business combinations or ‘de-SPAC’ transactions. A growing number of SPACs are targeting companies in Indonesia and Vietnam, and in this 10-minute podcast we highlight the considerations and challenges for de-SPACs in these markets, from tax implications, to legal structures to foreign ownership limits. The speakers provide their thoughts on how companies can work within these constraints to ensure an attractive capital structure.
Singapore-based US capital markets partner Felipe Duque discusses these developments with Tina LeDinh, Vietnam-based M&A and capital markets partner and Sugianto Osman, a Jakarta-based partner who has advised on some the market-leading tech transactions in Indonesia.
Following the launch of the Institutional Investor Forum, Allen & Overy’s client facing diversity and inclusion initiative, we publish our first podcast in the How I Made It series with a number of women leading the way in their organisation.
In this podcast, MaameYaa Kwafo-Akoto speaks with Nouar H. Albahli to learn about Noaur’s career journey in Saudi Arabia and shares her tips for others in the institutional investor space
To sign-up to our next seminar, please email the institutionalInvestorForum@allenovery.com
Collaborations stimulate innovation and can accelerate entry into markets and broaden market opportunities.
In this podcast, we discuss IP as one of the top concerns for executives considering collaboration.
In this podcast, Goran Galic, a projects, energy, natural resources and infrastructure partner from our Perth office, discusses how hydrogen is emerging as a credible alternative to fossil fuels in a wide variety of applications and markets, and the implications that has on M&A transactions across the world. Key points addressed in this podcast include: • Why, after several false dawns, hydrogen is finally emerging as a key component in the transition from fossil fuels • What has driven the rapid advance in the development of “green” hydrogen over the past 18 months • The growth of hydrogen-related M&A activity globally and the types of deals in the market • Which markets are most active • The risks facing investors in this field • The potential opportunities for investors
For more information on this or any related topics, please get in touch with Goran or your usual A&O contacts.
As part of a closer look at impact investing, MaameYaa Kwafo-Akoto from our Institutional Investor practice speaks to Amit Bouri, CEO of the Global Impact Investing Network (GIIN), about what impact investing is and how GIIN supports investors.
MaameYaa and Amit discuss market trends for fund managers and institutional investors, whether there is a difference between sustainable investment and impact investing and how this can positively affect financial returns.
In this podcast we provide an update on the legal position, including when the Hague Convention might not apply, whether the UK is likely to rejoin the Lugano Convention, and how the markets have reacted to the change of regime. We also discuss the key issues parties should be thinking about when negotiating governing law and dispute resolution clauses in their commercial contracts.
This timely discussion is part of a series of Allen & Overy conversations on opportunities in alternative investments across our global funds network.
Partner, Nick Smith and counsel, Kamar Jaffer, both based in Dubai, put the spotlight on the Middle East as they discuss opportunities in alternative investments and market trends from the manager and investor perspective.
Topics discussed in this podcast include:
- Recent trends in the Middle East fund raising environment
- How managers have navigated the challenges of Covid-19
- Investment strategies and opportunities in the Middle East
- The trends and demand for Shari’a-compliant funds
- The trends on domicile and fund vehicles
- Flexibility in governance and economic terms to navigate challenging markets
- The industry’s emphasis on ESG
- Models being used to attract institutional capital
- Outlook for 2021 and beyond
This Great Fund Insights podcast will be of interest to sovereign wealth funds, institutional investors, family offices, fund managers and portfolio companies with a focus on the Middle East.
New York partner Paul Keller interviews Jaeson Yoo, Chief Strategy Officer of Autocrypt, a leading V2X provider that offers services and solutions to secure communication lines between connected and autonomous vehicles and the outside world.
Paul and Jaeson discuss the basics of V2X technology, the emergence of CV2X technology and its impact on V2X technology, cyber-security and data ownership issues, and, what the future may hold for not only autonomous vehicles but also for the cities in which they operate.
In this episode of In Credit, A&O’s consumer finance team Joanne Owens, Victoria Ferres, Sophie Skeet and Mercy Hadfield discuss the Financial Conduct Authority’s recent proposal to introduce a “Consumer Duty.” The consultation paper is proposing firms provide a higher standard of care for consumers by asking themselves “would I be happy to be treated in the way my firm treats its customers”, or even “would I recommend my firm’s products and services to my friends and family?”
The goals and themes echo those of previous consultations papers from the FCA, including the treatment of vulnerable people which we discussed in a previous episode here, however the proposed measures could herald a “paradigm shift” in how business is conducted in the retail sector.
This episode will consider:
- the background to the paper
- the three elements of the Consumer Duty
- what this means for firms dealing with retail customers
If you liked what you heard and want to keep up to date then sign up here to receive the most up to date podcasts, briefings and webinars from our retail and digital finance team.
This timely discussion is part of a series of Allen & Overy conversations on opportunities in alternative investments across our global funds network.
Hong Kong based partner, James Ford and Middle East based counsel, Kamar Jaffer put the spotlight on North Asia and as they discuss opportunities in alternative investments and market trends from both the manager and investor perspective.
Topics discussed in this podcast include:
- How fund managers have navigated the challenges of Covid-19
- The impact of the Hong Kong limited partnership fund regime and the trends of fund domicile being chosen by managers
- Reforms regulators in Hong Kong are considering to enhance the attractiveness of the region
- Investment strategies in North Asia that appeal to institutional investors
- Developments in the secondaries space
- Looking in to 2021 and beyond
This Great Fund Insights podcast will be of interest to sovereign wealth funds, institutional investors, family offices, fund managers and portfolio companies with a focus on North Asia.
In our latest edition of Trust Us, a podcast addressing hot topics for trustees in Asia Pacific, Louisa Ingham from our Corporate Trust & Agency team moderates a discussion covering trustee discretion and the use of Keepwell structures as a form of credit enhancement.
- Trustee Discretion – When, why and how
Head of our Asia Pacific Corporate Trust & Agency team, Tim Beech, looks at when trustee discretion should be used, why due care and consideration need to be applied to its use and how it can be exercised in a manner that protects the interests of the trustee.
- The Keepwell Structure as a credit enhancement – innovative, ineffective or both?
Senior Associate, Holly Hart, will outline the structure of a Keepwell bond, discuss the recent concerns regarding their ineffectiveness as a means to protect the holders in an insolvency and how it remains an effective credit enhancement feature for certain bond issuers and products.
The Trust Us series presents succinct overviews of hot topics for trustees in the APAC market and these podcasts are based on webinars hosted for clients. Please note this episode was recorded on 18th May 2021 and references developments occurring at that time.
Werner Eyskens, Andrew Bennett and Lauren Rasking discuss how they created a successful team with alternative remote support and local bubbles for a complex arbitration case.
In the latest installment of Propel, our podcast series on self-driving vehicles, New York partner Paul Keller interviews Lando Juarez, Uber’s Head of Legal for Autonomous Mobility and Delivery, about Uber’s historical and current efforts to leverage its demand aggregation platform technology with AV developers and fleet owners.
Listen to Paul and Lando as they discuss Uber’s recent sale of Uber Advanced Technologies Group to Aurora, Uber’s on-going involvement in the AV space post-sale and the overall state of AV development, which has been called the “moonshot of this generation.”
Australia based partner, Jason Denisenko and Middle East based counsel, Kamar Jaffer put the spotlight on Australia as they discuss opportunities in alternative investments and market trends from both the manager and investor perspective.
Topics discussed in this podcast include:
- Recent trends in Australia’s fund raising environment
- The type of fund vehicles being used in Australia
- Investment strategies and opportunities in Australia
- Legal, regulatory and policy developments
- Fund managers’ focus on governance and economics
- The industry’s approach to ESG
- The trends on institutional capital
- Developments on secondaries
- Looking in to 2021 and beyond
This Great Fund Insights podcast will be of interest to sovereign wealth funds, institutional investors, family offices, fund managers and portfolio companies with a focus on Australia.
Our APAC Restructuring & Recovery lawyers take a detailed look at the recent and significant decision by the Hong Kong court in Re Lamtex Holdings Limited.
This case concerns a Bermudan-incorporated debtor company listed on the Hong Kong Stock Exchange with its centre of main interests (‘COMI’) in Hong Kong and with operations in Mainland China and Hong Kong. The Hong Kong court decided to wind up the company in view of the limited evidence that any proposed restructuring would be successful.
In a detailed discussion moderated by Karen Chan; Ian Chapman and Viola Jing from our Asia Pacific Restructuring & Recovery Group, along with Look Chan Ho of Des Voeux Chambers unpack the Hong Kong Court’s decision and discuss its implications for Hong Kong based restructurings on the recognition of offshore provisional liquidators and the availability of judicial assistance to stay enforcement action in Hong Kong. The panel consider the shift by the Hong Kong court towards an ‘UNCITRAL Model Law’ approach, displacing primacy of place of incorporation of the debtor company in favour of its COMI, and discuss the following issues:
- The Hong Kong court’s recent approach to the jurisdiction to wind up foreign companies and the debtors’ application for adjournment for restructuring purposes.
- What is the direction of the Hong Kong court’s approach to application by foreign liquidators and provisional liquidators for recognition and assistance in Hong Kong?
- In light of the Lamtex Decision, what are the pros and cons for companies looking to have “soft-touch” provisional liquidators appointed in the place of incorporation?
- If recognition and assistance of foreign insolvency proceedings in Hong Kong is discretionary, what are the alternative options? Is there an option for a CRO as an alternative?
- How should the future of the restructuring and cross-border recognition regime look like? Should section 193 of the Companies (Winding Up and Miscellaneous Provisions) Ordinance be amended?
- If section 193 is amended, is COMI the deciding factor?
In this episode of In Credit, A&O consumer finance team Joanne Owens, Victoria Ferres and Sophie Skeet are joined by A&O Consulting executive director Claire Haydon to discuss the Financial Conduct Authority’s (FCA) long-awaited finalised guidance on vulnerable customers. This guidance applies to all firms where the FCA’s Principles for Businesses apply, regardless of sector and to the supply of products or services to retail customers even if a firm does not have a direct client relationship with the customer.
In this episode, the panellists explain how firms should understand the harms their customers may be vulnerable to throughout the whole customer journey so that those firms can ensure that vulnerable customers receive the same fair treatment and outcomes as other customers. The panellists also look in detail at the specific chapters including:
- Understanding the needs of vulnerable customers
- Skills and capabilities of staff
- Taking practical action
- Monitoring and evaluating compliance
For information on this or any related topics, please get in touch with the speakers, or your usual A&O contact.
If you liked what you heard and want to keep up to date then sign up here to receive the most up to date podcasts, briefings and webinars from our retail and digital finance team.
As part of Allen & Overy’s interview series on virtual hearings, Frankfurt partner Anna Masser interviews Dr Ula Cartwright-Finch on the psychological side of virtual hearings.
In the latest installment of Propel, our podcast series on self-driving vehicles, New York partner Paul Keller speaks with Councillor Tom Hayes, Council Deputy Leader in Oxford, UK, about the role the City’s mobility plans play in its efforts to de-carbonize Oxford. Councillor Hayes shares with us Oxford’s efforts to address the climate crisis in the UK, the road to achieving a zero emissions city and the challenges that self-driving vehicles may face in a city like Oxford.
To kick off Season 2, our panellists take us on a whistle-stop tour across Asia-Pacific, discussing the latest capital market and restructuring developments and their implications for trusts and agencies. Topics include:
Topics include:
- Emergence of sustainable bonds in Asia Pacific: from green bonds to blue bonds to social bonds and now, transition bonds
- Rise of alternative clearing options in China. Understanding this system and its requirements
- Update on regulatory capital requirements in Asia Pacific
- State of play with restructurings in Indonesia and expectation for a wave of bond defaults in China
- Rise of high-yield issuances in Southeast Asia in 2021
- Development of sustainability linked products and the increasing presence of convertible and equity linked securities in the region
The discussion, which is moderated by Holly Hart, senior associate in the Asia Pacific Corporate Trust and Agency Team, features the following speakers:
- Tim Beech, partner and head of the Asia Pacific Corporate Trust and Agency Team
- Jaclyn Yeap, partner, advising on capital markets transactions across Greater China
- Felipe Duque, partner, advising on strategic debt and equity investments, and product innovation across Asia
- Aloysius Tan, partner, advising on debt and equity capital markets in Singapore and cross-border
- Rivan Supriadi, senior associate in Jakarta, advising on financing and restructurings in Indonesia
The Trust Us series presents succinct overviews of hot topics for trustees in the APAC market. These podcasts are based on webinars hosted for clients. Please note this episode was recorded on 3rd March 2021 and references developments occurring at that time.
As part of our focus on ESG, Paul Sampson and Ellie Wells from our Funds & Asset Management practice speak to Peter Dunbar at the Principles for Responsible Investment (PRI) in relation to ESG issues on the horizon for fund managers and investors. Peter shares his insights on the importance of managers and investors participating in the discussion around ESG, navigating the regulatory, commercial and market pressures that stakeholders face and the due diligence questionnaire developed by PRI for LPs.
In this second podcast, members of Allen & Overy’s FinTech team Heenal Vasu, Ben Regnard-Weinrabe, and Catherine Di Lorenzo, discuss the changes that DORA will bring for technology service providers in the EU, and some of the practical steps that these service providers should take to prepare.
In the first podcast on the European Union’s Digital Operational Resilience Regulation, known as DORA, members of Allen & Overy’s FinTech team Heenal Vasu and Nikki Johnstone, together with Tom Anderson of A&O Consulting look at the changes that DORA will bring to the financial entities across Europe.
The enforceability of material adverse change clauses (“MAC clauses”) in commercial contracts is an area which has come under increased scrutiny in the wake of the Covid-19 pandemic.
In this episode, litigation counsel Helen Biggin, litigation consultant Peter Watson and structured asset finance senior associate Chris Mitchell discuss the scope of MAC clauses, what clients need to consider when drafting or seeking to rely upon such clauses in their contracts and the approach taken by the English courts to the interpretation of the MAC clauses.
Cases referred to in the podcast:
Grupo Hotelero Uvasco v Carey Value Added [2013] EWHC 1039 (Comm)
Travelport Ltd v Wex Inc [2020] EWHC 2670 (Comm)
Decura IM Investments v UBS [2015] EWHC 171 (Comm)
Cukurova Finance v Alfa Telecom [2013] UKPC 2
In this episode of In Credit, A&O’s consumer finance team Joanne Owens, Victoria Ferres and Sophie Skeet discuss regulatory updates on the horizon for 2021. We round up the key matters on the agenda for consumer credit and mortgages including a couple of the big picture changes such as Brexit and the LIBOR transition. We also run through some of the key consumer credit updates, such as the Woolard Review and the Breathing Space regime, as well as some of the updates expected in the mortgages market. Please note that this podcast was recorded in early February 2021 before the publication of the FCA’s finalised guidance on the fair treatment of vulnerable customers.
For information on this or any related topics, please get in touch with the speakers, or your usual A&O contact.
If you liked what you heard and want to keep up to date then sign up here to receive the most up to date podcasts, briefings and webinars from our retail and digital finance team.
In this podcast, MaameYaa Kwafo-Akoto, partner in our Funds & Asset Management practice, speaks with Mazen Al-Jubeir, Private Investor, Chairman of the Jada Fund of Funds and Vice Chairman of the Alraidah Investment Company.
They discuss the impact of Covid-19 on Saudi Arabia, investing in Saudi PE and VC funds, what distinguishes Saudi Arabia from other emerging market countries and the focus on reforms as part of the Vision 2030.
In the latest installment of Propel, our podcast series on self-driving vehicles, New York partner Paul Keller speaks with Serene Haddad, Principal Research Fellow at Nanyang Technological University in Singapore, about her research into the development of algorithms that predict pedestrian movement and intentions for use in AVs.
In this episode of In Credit, A&O’s consumer finance team Joanne Owens, Victoria Ferres and Sophie Skeet examine the findings from the Woolard Review. This review examined change and regulation in the unsecured credit market (covering credit cards, overdrafts, personal loans, high-cost short-term credit and currently unregulated products, such as buy-now pay-later arrangements). The findings were published on 2 February 2021.
As part of Allen & Overy’s interview series on virtual hearings, Shanghai partner Jane Jiang interviews Rick Grove about his experience with virtual hearings, primarily from the perspective of an expert witness.
As part of Allen & Overy’s interview series on virtual hearings, Dubai partner Kirsten O’Connell interviews London partner Kate Davies McGill on her experience with virtual hearings so far and how the changes that occurred in 2020 may shape proceedings in the future.
As part of Allen & Overy’s interview series on virtual hearings, Shanghai partner Jane Jiang interviews Sir William Blair about his experience with virtual hearings and his thoughts on the future.
In this installment of A&O’s podcast series on autonomous vehicles, NY partner Paul Keller interviews our own David Stone, the Global Head of Intellectual Property, and author of a leading textbook on EU trademark and design law, to discuss the fascinating new customer facing elements of self-driving cars – the logos, slogans, sounds, voices, shapes, and components – and the design law that may be available to protect these innovative features.
New York based partner, Jillian Ashley and Middle East based counsel, Kamar Jaffer put the spotlight on the US as they discuss opportunities in alternative investments and market trends from both the manager and investor perspective.
Topics discussed in this podcast include:
- Recent trends in the US fund raising environment
- How managers have navigated the challenges of Covid-19
- Investment strategies and opportunities in the US
- Impact of Biden’s administration and upcoming legal and regulatory developments
- Institutional investors focus on good citizenship and governance
- Shifts in fund terms in favour of investors
- Creativity of fund managers and product developments
- Developments in secondaries
- The industry’s emphasis on ESG
This Great Fund Insights podcast will be of interest to sovereign wealth funds, institutional investors, family offices, fund managers and portfolio companies with a focus on the US.
Washington D.C. Investigations and Enforcement partner, Billy Jacobson, hosts a discussion about the pending prosecution of individuals who breached the Capitol following the events of January 6, 2021. Billy speaks with Andy Wise of Miller & Chevalier and Jon Jeffress of Kaiser Dillon about various factors the Department of Justice may take into consideration as they weigh the evidence at hand against those who participated in this event.
The views reflected in this podcast are that of the guests and do not necessarily reflect the views of Allen & Overy LLP.
In this podcast, Kamar Jaffer, Counsel in A&O’s Middle Eastern funds and asset management team is joined by Jiri Krol Deputy CEO of the Alternative Credit Council and Todd Koretzky, Partner in A&O’s Leveraged Finance practice, to discuss how private credit will cope in an uncertain economic outlook, what investment opportunities could arise and the challenges that face the sector globally. Such themes were examined in the latest Financing the Economy report, exploring why private credit is vital to continued economic growth and a key source of financing to businesses.
The fourth episode of Trust Us, a podcast hosted by Allen & Overy’s APAC Corporate Trust and Agency team, discusses the following areas:
- The Loan Market – What’s happening (and what’s not) as 2020 draws to a close
We provide an update of activity in the loan market and how loan agents can be most effective, from the perspectives of the Banks and the Borrowers.
- Refinancings, Restructurings and Releases of Security – The role of loan agents
We dig into the technical aspects of the roles performed by various agents in refinancings, facility restructurings and security releases and, in particular, examine timing considerations that are relevant for the smooth completion of these often-complex transactions.
The Trust Us series presents succinct overviews of hot topics for Trustees in the APAC market and these podcasts are based on webinars hosted for clients. Please note this episode was recorded on 9th December 2020 and references developments occurring at that time.
In this podcast, Jamie Palmer, Corporate partner in our Sydney office speaks with Rose Hall, Global Head of Sector BD, to discuss the trending increase in data centre deals and what’s happening in the market to spur this level of activity. Key points addressed include:
- Trends in the market driving the growth of data centre M&A
- Key players, including data centre operators and investors
- What investors are looking for and what they should they be aware of
- Types of deals in the market and the possible risks for the parties
For more information on this or any related topics, please get in touch with the speakers or your usual A&O contacts.
In this episode of In Credit, A&O's consumer finance team Joanne Owens, Victoria Ferres and Sophie Skeet take a look at two recent publications impacting the retail finance sector.
Firstly, we get in to the detail of Treasury’s recent Call for Evidence on Access to Cash (which follows on from our first podcast where we discussed ATM and branch closures) and then the FCA Occasional Paper (No 58) on Understanding Consumer Financial Wellbeing through Banking Data including an overview of the methodology and the findings.
In the latest installment of Propel, our podcast series on autonomous vehicles, New York partner Paul Keller interviews Siyuan Chen, Associate Professor at Singapore Management University, Simon Constantine, Deputy Research Director Law Reform at the Singapore Academy of Laws and Sampson Lim of Allen & Gledhill, LLP about Singapore’s efforts to develop various aspects of that country’s civil and criminal legal frame-work to accommodate self driving cars, their users, manufacturers, and pedestrians. Listen to Paul and his guests as they discuss Singapore’s status as the leading country in this year’s Autonomous Vehicle Readiness Index, KPMG’s ranking of the world’s countries readiness for autonomous vehicle technologies.
With Brexit proper fast approaching, UK listed issuers of shares need to ensure they are prepared for the end of the transition period. This short, high-level podcast discusses the key questions for issuers to consider, including:
- Which rules will apply going forward?
- Will UK MAR (market abuse regulations) require us to change our policies?
- How will the changes to the transparency regime impact us?
- We have a transaction announcing in January 2021 – what do we need to think about?
In this episode of In Credit, Joanne Owens, Victoria Ferres and Sophie Skeet, members of our consumer finance team, discuss the impact that the coronavirus pandemic has had on the consumer lending sector in the UK. This episode has a particular focus on the recent FCA announcement regarding continued support to consumers through the second period of lockdown. We also briefly touch on the FCA's plans to conduct a Retail Lending Forbearance Project in the coming months and CRA reporting expectations.
For more information on this or any related topics, please get in touch with the speakers, or your usual A&O contact.
This timely discussion is part of a series of Allen & Overy conversations on opportunities in alternative investments across our global funds network.
Singapore based partner, Yin Mei Lock and Middle East based counsel, Kamar Jaffer put the spotlight on South East Asia as they discuss opportunities in alternative investments, market trends and developments in the region.
Topics discussed in this podcast include:
- Fund raising trends since Covid-19
- How managers have navigated the challenges brought on by Covid-19
- Transition to a virtual fund raising process
- Status of US-China trade relations
- Shifts in fund terms in favour of investors
- Models to attract investors to the Asia Pacific region
- Developments in secondaries
- Developments in ESG
This Great Fund Insights podcast will be of interest to sovereign wealth funds, institutional investors, family offices, fund managers and portfolio companies with a focus on South East Asia.
In the latest installment of Propel, our podcast series on self-driving vehicles, Paul Keller interviews Daniel Ruiz, CEO of Zenzic, the UK agency leading the coordination of that country's testing and deployment of advanced mobility services. Listen to Paul and Daniel as they discuss the status of Zenzic's work, its collaboration with government, industry, and academia, Covid-19's impact on those efforts and its role in developing a model for other countries to use to prepare for AV technology.
Whilst Brexit formally happened when the UK left the European Union on 31 January 2020, it has been treated as a Member State under Union law during the transition period established by the EU-UK Withdrawal Agreement. The transition period is scheduled to end on 31 December 2020, but it is still unclear whether the EU and the UK will reach a free trade agreement governing the future relationship. Even if there is success on this front, the UK is still expected to leave the single market on 31 December and any free trade agreement is unlikely to have a tangible effect on the mainstream debt capital markets. The points that parties considered ahead of a potential no-deal Brexit previously will again become relevant.
In light of this (and to complement our recent updated bulletin), International Capital Markets partner Amanda Thomas and Jennifer Cresswell, a counsel in the International Capital Markets practice, discuss ten points for action and issues for consideration to assist issuers and other participants in the mainstream debt capital markets in preparing for the end of the transition period.
Light Detection and Ranging sensors (“LiDAR”) provide a form of “sight” to AVs that generate massive amounts of data these vehicles can use to “think” about their driving. In the second installment of Paul Keller’s podcast series ‘Propel’ about self-driving cars, Paul is joined by Harriet Ravenscroft and Niall McCarroll, two members of Allen & Overy’s internal scientific team, to introduce this remarkable sensor technology and the AI it powers that is enabling self-driving cars to fulfill their potential.
In this podcast, Dominic von Wulffen, partner in our Funds & Asset Management Group, speaks with Steve Pringle, Director of EMEA at GRESB. They discuss how GRESB validates the quality and accuracy of ESG data that managers and investors report as well as other issues including:
- The key elements of measuring ESG performance;
- GRESB’s approach to reporting and benchmarking against the EU's action plan for sustainable growth and the forthcoming EU regulations; and
- ESG assessments and benchmarking to create change in the "real world".
In the latest installment of Billy Jacobson’s podcast series, Anti-corruption conversations, Billy and Bruce Yannett take an inside look at the landmark Siemens FCPA case. Billy worked on the case while at the DOJ and Bruce led the Siemens internal investigation into the corruption scandal that resulted in the first case brought concurrently by the U.S. and another country’s regulator. The discussion reveals how German and U.S. prosecutors eventually came to trust and rely on the findings of Siemens’s own internal investigation, which was extremely rare at the time, in reaching their own conclusions about Siemens.
This is the first episode of what will be a regular podcast – In Credit – where the A&O team cover recent trends and updates in Consumer Credit and Retail.
In this podcast financial services regulatory lawyers Jo Owens, Victoria Ferres and Sophie Skeet will discuss the FCA’s finalised guidance published on 14 September relating to branch and ATM closures or conversions. In particular:
- an overview of the finalised guidance and key points for consideration
- expectations on and actions required by firms
- where the guidance does and does not apply.
For more information on this or any related topics, please get in touch with the speakers, or your usual A&O contact.
In this podcast our team of A&O experts cover the key issues company secretaries and their teams need to think about when preparing for their next AGM and Annual Report including:
- best practice for AGMs in 2021;
- virtual and hybrid meetings;
- updates to articles of association;
- reporting on the year of the pandemic;
- diversity, including the Parker Review;
- executive remuneration and remuneration reports; and
- environmental reporting and climate change.
To find out more about the support we can provide for AGMs and Annual Reports and details of some of our key value-added services please download our brochure.
In the first installment of a new podcast series about self-driving vehicle, New York partner Paul Keller is joined by Sharad Agarwal, Senior VP at EasyMile, to discuss how that company is tackling the under 30 mph market, a market it believes provides one of the best growth opportunities in this revolutionary space. They also cover the impact the pandemic is having on EasyMile specifically and the industry generally, and conclude with thoughts that the questions over the autonomous vehicle world should focus on when, not if.
Episode Two The second episode of Trust Us, a podcast hosted by Allen & Overy’s APAC Corporate Trust and Agency team, focuses on our virtual world. Tim Beech along with Holly Hart and Regina Lui discuss the following:
- Virtual bondholders’ meetings. Is this possible under the terms of a Trust Deed and, if so, what does it entail?
- E-signatures. Are e-signatures valid and what are some best practice considerations for Trustees and Agents?
The Trust Us series presents succinct overviews of hot topics for Trustees in the APAC market and these podcasts are based on webinars hosted for clients.
Episode One This is the first in a series of podcasts hosted by Allen & Overy’s Corporate Trust and Agency team and based on webinars organised for our clients. The Trust Us series provides succinct overviews of hot topics for trustees in the APAC market. In this episode, Holly Hart is joined by Katherine Signy and Tim Beech, head of our APAC Corporate Trust and Agency team, who discuss the following:
- Defaults in APAC: an overview of current trends in bond defaults, including key takeaways for trustees; and
- Stand By Letters of Credit: the increasing role of these products as credit enhancement in the market, and the sticking points for trustees in negotiating and enforcing such instruments.
The bankruptcy administrator of Peking University Founder Group Company Limited (PUFG) has decided (the Decision) to reject claims submitted by the Trustee under the keepwell deeds and deeds of equity interest purchase undertaking provided by PUFG in support of five series of bonds issued by its subsidiaries. This is the first time a bankruptcy administrator in the mainland of the People's Republic of China (the Mainland) has decided on issues relating to the validity and enforceability of keepwell arrangements.
In this podcast, banking partner Cindy Lo, speaks with Agnes Tsang, who has extensive experience in advising issuers and underwriters on debt capital markets transactions, along with Tim Beech, head of our APAC Corporate Trust & Agency team, and Viola Jing from our APAC restructuring & recovery group. They discuss the implications of this significant decision and enforcement options for offshore creditors who find themselves in similar situations. The podcast covers the following issues:
- The emergence of keepwell structures and their use by Chinese companies
- A closer look at the PUFG matter based on publicly available information
- Implications for offshore investors in bonds that benefit from keepwell deeds provided by onshore Chinese parent companies
- Possible enforcement options available to offshore creditors
- A closer look at the CEFC Shanghai International Group Limited (CEFC) case and how the decision currently being considered by the Shanghai Intermediate People’s Court could affect the enforcement of keepwell structures. arlier this year, the Hong Kong Court of First Instance issued a decision on recognition of appointment of administrators of CEFC in the Mainland. This is the first application in Hong Kong made by Mainland administrators for recognition of their appointment and judicial assistance at common law.
The issue of good faith in commercial contracts is an area in which the English courts have been very active recently. The concept of relational contracts is now part of English law and what we have seen is the English courts further defining this concept. Additionally, we are seeing judges seeking both to expand the application of this doctrine and implying duties of good faith into commercial contracts but also other judges pushing back to limit the application of implied duties of good faith into such contracts. This is a dynamic concept and is not going to go away.
In this episode, litigation counsel Helen Biggin, litigation consultant Peter Watson and structured asset finance senior associate Chris Mitchell discuss why businesses should be concerned to know whether or not their contractual rights are inhibited by concepts of good faith. What is a relational contract? Is the duty of good faith now automatically applied to carefully negotiated contracts? And if it is, how does the good faith duty impact the relationship between contract parties?
Billy Jacobson speaks with Hong Kong partner Eugene Chen and Sydney partner Jason Gray about how the Covid-19 pandemic has impacted anti-bribery and corruption ( "ABC") compliance and enforcement activities in Asia and Australia. Billy, Eugene and Jason discuss the increased risks of corruption, how compliance efforts have been impacted by travel restrictions and the improvements made in ABC legislation in recent years in a number of countries.
In this podcast, MaameYaa Kwafo-Akoto, senior associate in the Institutional Investor practice, speaks with Uche Orji, Managing Director and CEO of the Nigerian Sovereign Investment Authority (NSIA). They discuss trends and growth opportunities for investors looking to invest into Nigeria.
Issues discussed in this podcast include:
- Lessons learnt from Covid-19.
- Long-term outlook in favour of Nigeria including its attractiveness, relevance and growth potential.
- The future of precious and industrial metals including gold.
Billy Jacobson speaks with Luis Wielewicki, partner at Sampaio Ferraz Advogados, about Operation Car Wash (Lava Jato), the massive anti-corruption investigation that ultimately brought about a new culture of compliance in Brazil. Join Billy and Luis as they discuss how the investigation began, how it resulted in improved cross-border cooperation among law enforcement agencies, how it helped institutionalize Brazils' overall anti-corruption efforts and why it has been the subject of criticism in Brazil.
In a conversation with A&O partner and former SEC Enforcement Official Bill White, Billy Jacobson explores the Supreme Court’s decision in SEC v. Liu and two other recent Supreme Court decisions which are already having an impact on the SEC’s ability to bring cases going forward.
Corporate partner, David Foster and funds and asset management counsel, Kamar Jaffer are joined by V. Shankar, co-founder and chief executive officer and Huda Al-Lawati, partner, both at Gateway Partners. They discuss the role private equity can play in emerging markets as one of the key drivers of global growth following the Covid-19 coronavirus crisis.
Issues discussed in this podcast include:
- Long-term outlook in favour of emerging markets such as Africa, Middle East and Asia including the factors underpinning their attractiveness, relevance and growth potential.
- Role of private equity in the face of megatrends such as supply chain disruption and de-globalization.
- Lessons learnt from the Covid-19 coronavirus crisis including the impact on fundraising and changes in the approach, structuring of deals, valuations and management of portfolio companies going forward.
Washington, D.C. partner Billy Jacobson speaks with London partner Eve Giles about anti-corruption efforts and prosecutions in the UK, including the standards for corporate liability and the SFO’s approach to delving into corporate compliance programs.
Allen & Overy’s Global Employment team held the fifth in a series of calls on the major developments of interest when workforce planning in light of the Covid-19 coronavirus pandemic.
This call focused on how the return to work is progressing, the associated risks, engagement with employee representatives and the potential for whistleblowing claims to arise. We also looked at the employment issues associated with home working and how employers can best manage them.
Senior associate Chris Mitchell leads a discussion with litigation counsel Helen Biggin and litigation consultant Peter Watson about the use and ambit of force majeure clauses and the pitfalls associated with reliance on force majeure events in the context of aircraft leasing.
In the fifth installment in a series of conversations with leading figures in the world of anti-corruption, Billy Jacobson speaks with Natalia Shehadeh, Senior Vice President and Chief Compliance Officer at TechnipFMC, a large, global oil and gas services company. Natalia discusses lessons learned from a recent TechnipFMC FCPA investigation settlement with the DOJ and SEC, and the unprecedented coordination amongst Brazilian authorities. We also hear about Natalia’s role as CCO in the current landscape and how she sees it evolving in ‘a very changed world’.
This podcast covers the impact for equity capital markets transactions now that the UK has left the European Union with a deal and is in a transition period.
In this episode in our Brexit podcast series, Partner, Michael Bloch and Anne Kirkwood discuss the key points to note in this context.
In the latest in a series of conversations with leading figures in the world of anti-corruption, Billy Jacobson speaks with Nicola Bonucci, former Director for Legal Affairs at the OECD, about the importance and function of that organization's working group on bribery and the key role it played in the development of the UK Bribery Act.
The market volatility triggered by the Covid-19 pandemic is raising questions about the rights that parties have to exit commercial commitments they have entered into and whether there is any legal commitment to carry them through. In this episode, litigation counsel Helen Biggin, litigation consultant Peter Watson and structured asset finance senior associate Chris Mitchell, discuss whether documents, such as non-binding letters of intent, can be deemed to be binding if one party's actions suggest that an agreement has been made and what steps parties can take to ensure that they do not inadvertently create a binding agreement.
The focus of this podcast is on the exponential growth in the Internet of Things and the ley legal issues that should be considered by device manufacturers. Catherine Di Lorenzo (Counsel, IP/IT, Luxembourg) and Rose Hall (Global Head of TMT sector BD) discuss these issues with a focus on cybersecurity and data protection.
In this podcast, co-heads of Allen & Overy's Middle East Asset Management and Financial Services Regulatory practice Nick Smith and Jodi Norman, and Kamar Jaffer, a counsel in that practice, are joined by Taimoor Labib, founding partner at Affirma Capital and Head of MENA and Chairman of Africa, to examine the impact of the pandemic on the region’s midcaps and SMEs.
They explore how governments in different countries have reacted, the stimulus measures in place across the MENA region, the wider trends and challenges they are seeing in capital raising and also how greater co-ordination and collaboration among financial services players – in particular, banks, institutional investors, private equity funds, fintechs and equity crowdfunding platforms – can help to improve the outlook of these critically important businesses.
A team of Allen & Overy’s specialists across Europe and the U.S. hosted a client webinar focussing on the lifting of Covid-19 coronavirus lockdown restrictions and key issues to consider when approaching the return to work. Panellists in key jurisdictions such as Belgium, France, Germany, Italy, the Netherlands, Spain, the UK and the U.S. discussed key issues for employers to be aware of when reintroducing their employees into the workplace. In particular, they focussed on the latest legislative developments for the testing and screening of employees.
Following the release of UK government guidance on how organisations can safely re-open workplaces on Monday 11 May, Allen & Overy’s UK Employment team held a call to guide employers through the key points they need to understand to help safely navigate their lockdown exit strategy.
In particular, the call focused on office-based workplaces and whether there are now answers to many questions employers have been considering, such as whether temperature testing and personal protective equipment (PPE) need to become features of our workplaces. The team also reflected on other legal obligations that need to be factored into the return to work planning such as the physical design of workplaces and the challenges of public transport.
The in-house legal function is facing a decade of potentially transformational change. Intense cost pressures, rapid advances in technology and the growth and fragmentation of the legal supplier market are changing the way in which internal legal departments work and deliver their services. Jonathan Brayne, partner and chairman of Fuse, Allen & Overy's tech innovation space, and Shruti Ajitsaria, partner and head of Fuse, discuss the opportunities and challenges that General Counsel and heads of legal operations should consider.
In the latest in a series of conversations with leading figures in the world of anti-corruption, Billy Jacobson speaks with Shruti Shah, President & CEO of Coalition for Integrity, about the potential for fraud in relation to the US government’s Covid-19 stimulus packages, the importance of independent inspectors general and anti-corruption legislation pending before Congress.
International Capital Markets partner Amanda Thomas and Jennifer Cresswell, a counsel in the International Capital Markets practice share their thoughts with ICMA on the practical implications of Covid-19 for European primary debt capital markets.
In the second in a series of conversations with leading figures in the world of anti-corruption, Billy Jacobson talks with Richard Grime, formerly the head of the SEC's FCPA program, and now a partner at Gibson Dunn. The discussion centers on the SEC’s level of activity with regard to FCPA matters during the Covid-19 crisis as well as other current topics regarding SEC enforcement.
Allen & Overy’s Global Employment team held the fourth in a series of calls on the major developments of interest when workforce planning in light of the Covid-19 coronavirus pandemic.
This call focused on the latest legislative developments across a number of jurisdictions and also addressed issues employers need to consider as they start to think about the transition from the current remote working environment, back to the employer's usual place of work.
In the first in a series of conversations with leading figures in the world of anti-corruption, Billy Jacobson, a litigation partner in Allen & Overy's white-collar crime team in Washington DC, talks to Pascale Dubois, former Vice-President of Integrity at the World Bank Group.
They discuss the importance and impact of greater co-ordination and collaboration among international anti-corruption enforcement agencies, the opportunities for the further development of best practices, and the implications for organisations under the spotlight.
Nigel Parker explores the intellectual property issues involved in protection of brands when undergoing digital transformation.
Emerging technologies may stretch the application of IP law. Mark Ridgway, partner, and Nigel Parker, partner, discuss the role that intellectual property plays in digital transformation strategies.
Allen & Overy’s Global Employment team held the third in a series of calls on the major developments of interest when workforce planning in light of the Covid-19 coronavirus pandemic.
Allen & Overy’s Global Employment team held the second in a series of calls on the major developments of interest when workforce planning in light of the Covid-19 coronavirus pandemic.
Members of Allen & Overy’s Insurance and Litigation teams held a call to discuss the extent to which business interruption policies protect against losses arising from the Covid-19 coronavirus outbreak.
The call focused on: The nature of the insurance protection provided by these policies, circumstances in which cover may or may not be available and suggested future actions for clients.
Allen & Overy’s global employment team held a call on some of the major developments of interest concerning the Covid-19 coronavirus outbreak, and the spectrum of emerging policy and practice impacting employee relations. The call focused on some of the immediate concerns: leaves of absence, remote working and pay arrangements, as well as those mechanisms available to businesses to cut costs, whether through redundancies and layoffs or short-time working.
The London employment team held a call on the real-time key issues caused by the recent Covid-19 coronavirus outbreak that organisations need to consider when managing their UK workforce.
We also discussed how organisations will be operating over the next three to six months.
In particular, we covered:
- The obligations of an employer.
- Pay – when it continues, when sick pay kicks in, when pay ceases.
- Possible redundancies and/or lay-offs and short-term working arrangements.
- The impact on ER processes and employment litigation.
- The requirements for flexible working.
- Employee morale.
The United Kingdom left the European Union on 31 January 2020 as part of a negotiated exit pursuant to the terms of a withdrawal agreement between the United Kingdom and the European Union. The United Kingdom is now in a transitional, or ‘implementation period’, until 11pm on 31 December 2020.
In this podcast we will focus our attention on what this means for the funds and asset management industry and discuss the biggest issues we are seeing amongst our clients following these recent developments.
Data governance – distinct from the GDPR and other comparable frameworks for personal data – is how to manage data to best effect in commercial and corporate transactions. Filip Van Elsen and Laurie-Anne Ancenys discuss data ownership and how best to prepare for data monetisation strategies, with and without third parties.
Unlike our previous Brexit podcast which focused on points relevant to a no-deal exit, this podcast covers the impact of the UK leaving the EU on 31 January with a deal and a transition period.
In this episode in our Brexit podcast series, Partner Amanda Thomas and Counsel Jennifer Cresswell discuss the key points to note.
The Dutch scheme (also known as WHOA), which is set to come into effect next year, will offer an alternative restructuring tool to the English scheme of arrangement and U.S. Chapter 11 proceedings.
Amsterdam-based restructuring partner Sigrid Jansen and Brechje van der Velden, senior partner in Allen & Overy's Amsterdam office, join London-based restructuring partner Jennifer Marshall to discuss the main features of the Dutch scheme and how it compares to the English scheme of arrangement.
Cyberattacks make prominent headlines yet many cyber and data breaches remain private. How firms act in the immediate aftermath of being hit may impact how much damage is done. Lawson Caisley, partner, talks through immediate priorities post-attack.
With rapid increases in data generating and data driven technologies, data ethics is a topic that is gaining prominence among consumers, companies, regulators and investors.
Data protection senior associate Karishma Brahmbhatt explores how to create the right data culture and why it is important for companies to do so.
In-house lawyers have a leading role to play in helping their companies navigate the strategic, regulatory and operational challenges of digital transformation.
Corporate partner Tom Levine discusses the issues that in-house legal teams should prioritise.
Corporate venturing, whereby companies make minority investments typically in start-ups and scale-ups, is becoming an increasingly popular tool among organisations looking to boost innovation and accelerate digital transformation.
Corporate partner Will Samengo-Turner discusses the role and value of corporate venturing and the issues that investors should consider.
Geopolitical volatility, escalating trade tensions and an increasingly complex regulatory environment have dominated the global economy during the first half of 2019. What are the implications for the M&A markets across the world and what are the practical issues that dealmakers should consider in response?
Dirk Meeus, co-head of Allen & Overy’s Corporate practice, discusses the current and emerging trends shaping the global mergers and acquisitions markets.
This podcast provides an overview of the imminent changes in the debt capital markets space being made by the Prospectus Regulation – so-called PD III - which comes into full application in July of this year. The focus of the podcast is on the key areas of change for debt securities arising as a result of PD III (and associated legislative developments) and the likely impact on practical aspects of debt capital markets transactions.
In this podcast, data protection partners Jane Finlayson-Brown and Nigel Parker join David Smith, A&O’s special adviser for data protection and a former Deputy Data Protection Commissioner at the UK ICO, and Ali Parvin, Peerpoint Consultant, to discuss key enforcement actions since the introduction of GDPR and provide insight for companies looking to minimise their risk of regulatory fines.
Traditional companies are responding to the challenge of digital disruption by partnering with technology companies (large and small) to accelerate innovation.
Allen & Overy partner Connell O'Neill discusses the opportunities and potential pitfalls that established businesses need to consider.
Istanbul-based banking partners Hakki Gedik and Joe Clinton join Nick Charlwood, a senior associate in Allen & Overy’s restructuring group, to discuss Turkey’s new restructuring framework and its implications for alternative lenders looking to invest in Turkey’s restructuring market.
Establishing an organisational culture that nurtures diversity and equality, with a commitment to offering equal pay in a fair and consistent manner, is one of the most high-profile challenges facing senior management today. Using tools such as equal pay audits to identify potential flaws in pay structures and practices can provide the practical insights needed to manage reputational and operational risks as well as inform the organisation’s longer-term pay strategy. Sarah Henchoz, a partner in Allen & Overy’s employment team, and counsel Rachel Reeves, join PSL counsel Sheila Fahy to discuss the role and importance of culture, equal pay and the issues that employers should consider before conducting an equal pay audit.
At the heart of what Brexit will actually mean for business are the UK’s terms of trade with the EU27 and the rest of the world after it leaves the EU. The continued uncertainty over the terms of the UK’s withdrawal from the EU have brought into focus the prospects of the UK leaving the EU without an agreement in place (a so-called “hard Brexit”). One of the well-publicised consequences of this would be that the UK would have to rely on World Trade Organisation (WTO) rules to trade with the EU and certain third countries with which the EU has concluded free trade agreements (and vice versa).
In this episode of our Brexit podcasts, Senior Associate in our International Trade and Regulatory Law Group, Jonathan Benson, introduces the key concepts in the WTO rules and discusses key considerations for businesses operating under such a trading regime post-Brexit.
With less than 6 weeks to go until 29 March and a hard Brexit seeming more likely by the day, in this episode we focus our attention on the key trends and issues we are seeing among our asset management clients as they approach the final stages of their Brexit preparation.
Emma Danforth and Paul Sampson, both senior associates in the asset management group, and Sharon Gowdy, a senior associate from our affiliate business, aosphere will discuss the following:
- the recent developments of ESMA, the FCA and EU27 regulators and potential issues arising out of those developments
- practical issues to be mindful of as we approach exit day
- the options still available for any asset managers who haven’t yet finalised their Brexit planning.
In the event of the UK leaving the UK with or without a deal, how are IP rights affected and what should clients do to ensure there is no loss of protection.
In this episode of our Brexit podcasts, partner and global head of IP, David Stone, and senior professional support lawyer, Beverley Potts, discuss the key IP rights that will be affected by Brexit and what you do and don’t need to be doing now to ensure your rights remain protected.
In addition to the podcast, please click here if you would like to read Allen & Overy's written summary of frequently asked questions.
In this episode of our Brexit podcast series, Emma Dwyer, partner, and Emma Lancelott, senior lawyer, in our Derivatives and Structured Finance practice discuss what the UK version of the European Markets Infrastructure Regulation, otherwise known as UK EMIR, will look like and the likely practical effect of the onshoring of EMIR in a hard Brexit scenario.
Please be aware that, since the date of recording, the UK FCA has issued a statement on the use of transitional powers post hard Brexit clarifying they will not be used in the context of EMIR reporting – you should bear this in mind when listening to the final section of the podcast. We note that, although the content is correct as at the date of recording, the legal position is evolving in this space and we cannot guarantee that there will not be additional developments in this area. However, the podcast should nonetheless provide a useful overview of the basic position and the key issues arising.
In addition to the podcast, please click here if you would like to access Allen & Overy's consolidated version of UK onshored EMIR and here to access our Hard Brexit: Map of UK onshored EMIR.
If the UK leaves the EU without a deal, firms doing business both in the EU and UK will face parallel antitrust, merger control and state aid regimes. In this podcast, antitrust partner Dominic Long and Louise Tolley, a counsel in the firm’s antitrust group, explain the impact of this, discussing what a hard Brexit may mean for future antitrust policy and enforcement activity, as well as the likely practical implications for business.
We have also produced a short article summarising the issues, which can be viewed here.
Victoria Ferres (Senior Associate in the Financial Services Regulatory practice) and Isabelle Westbury (Associate in the Financial Services Regulatory practice) consider the temporary permissions regime or TPR as it applies to FCA authorised firms.
Kirsty Taylor (Senior PSL, Financial Services Regulatory practice) and Jack Prettejohn (Associate in the Financial Services Regulatory practice) consider the draft financial services contracts regime, or Contractual Continuity Regime, and outlines the basis upon which EEA firms that currently passport into the UK and which either do not enter the temporary permissions regime (TPR) or which exit the TPR without authorisation can continue to service existing contracts.
Alex Forzani and Jamie Turner (both Associates in the Financial Services Regulatory practice) consider the temporary permissions regime or TPR as it applies to banks.
Nikki Johnstone (Senior Associate, Financial Services Regulatory practice) Martin Dowdall (Associate, Financial Services Regulatory practice) and Heenal Vasu (Senior PSL, Financial Services Regulatory practice) consider the temporary permissions regime or TPR as it applies to firms providing payment services and/or issuing electronic money.
In the event of the UK leaving the EU without a deal, what do issuers and other participants in the equity capital markets need to consider?
In this episode in our Brexit podcast series, equity capital markets counsel Michael Bloch and senior professional support lawyer Anne Kirkwood discuss the key points to note. We have also produced a short briefing note, which can be viewed here.
Like many areas of UK law and regulation, the UK’s financial services regulatory regime has been driven by reforms implemented at the European level, especially since the financial crisis. In this podcast, we look at how the UK Government is seeking to ensure that the UK’s financial services regime will function on a “hard” Brexit.
Lucy Aconley (Senior Associate in the Global Restructuring practice), Emma Danforth (Senior Associate in the Global Funds and Asset Management practice) and Oonagh Harrison (Senior PSL in the A&O Brexit team) consider the role of the EU (Withdrawal) Act 2018 in the UK Government’s no deal “hard” Brexit contingency planning and explore its core objectives.
This podcast looks at what would need to be done to ratify the article 50 withdrawal agreement and political declaration on the future UK/EU27 relationship. The podcast was recorded prior to the political endorsement on 25 November 2018, however, the overview of the steps required remains valid. This podcast is led by Paul Sampson (a Senior Associate in the global funds and asset management practice), Jennifer Cresswell (Counsel in our international debt capital markets practice) and Oonagh Harrison (Senior PSL in the A&O Brexit team).
Charlotte Haworth (Senior PSL in the Global Banking practice), Karen Birch (Counsel and Head of Know How in our Litigation practice) and Oonagh Harrison (senior PSL in the A&O Brexit team) explore the scope and impact of the new body of law being created under the EU (Withdrawal) Act 2018 which is referred to as ‘retained EU law’.
The UK Parliament has voted against the Brexit deal. Whilst a hard Brexit is not inevitable, it remains a possibility and understanding the implications of that for the mainstream debt capital markets is gaining urgency.
In this episode in our Brexit podcast series, International Capital Markets partner Amanda Thomas and Jennifer Cresswell, a counsel in the International Capital Markets practice, discuss ten points for action and issues for consideration to assist issuers and other participants in the mainstream debt capital markets in preparing for a hard Brexit.
With less than 130 days remaining before the UK leaves the European Union (EU) on 29 March 2019, understanding the practical impact of Brexit on issues such as the transfer of data to and from the EU is gaining urgency for organisations operating in the UK that currently have to comply with the General Data Protection Regulation (GDPR).
In this, the second episode in our podcast series on the GDPR, data protection partners Jane Finlayson-Brown and Nigel Parker join Ali Parvin, Peerpoint Consultant, and David Smith, A&O’s special adviser for data protection and a former Deputy Data Protection Commissioner at the UK Information Commissioner’s Office, to assess the issues that organisations should consider as they prepare for Brexit.
The Brexit negotiations are continuing apace, but with no signs of a clear resolution as yet in sight, understanding the implications of a no-deal outcome for cross-border restructuring and insolvency is gaining urgency.
One particular issue that is attracting a significant amount of scrutiny is the question of what a hard Brexit could mean for the English scheme of arrangement, a widely used restructuring tool, in the context of European cross-border restructuring.
In the second episode in our Brexit podcast series, restructuring partner Jennifer Marshall and Lucy Aconley, a senior associate in the firm’s restructuring group, join Oonagh Harrison, a senior PSL in Allen & Overy’s Brexit group, to discuss the potential impact of a hard Brexit on cross-border restructuring and insolvency procedures in Europe.
One of the key questions that commercial parties continue to raise in relation to Brexit, both at a policy level and when negotiating transactions on a day-to-day basis, is whether English governing law and jurisdiction clauses are still an attractive proposition.
With so much debate and speculation surrounding this topic, it is critically important that parties understand the full practical implications of continuing to use English governing law and jurisdiction clauses and of taking a different approach.
In this podcast, senior partner Wim Dejonghe is joined by senior litigation counsel Karen Birch and Sarah Garvey to discuss the issues and questions that parties should consider in order to make an informed decision as to the preferred approach in any particular case.
The European Union’s General Data Protection Regulation (GDPR) comes into effect on 25 May. Our data protection team examines what companies could be doing even now to move further towards compliance as well as the longer-term issues they should be considering once GDPR is in force.
In this episode, data protection partners Jane Finlayson-Brown and Nigel Parker join Charlotte Mullarkey, PSL Counsel, and David Smith, A&O’s special adviser for data protection and a former Deputy Data Protection Commissioner at the UK ICO, to discuss a broad range of topics including the potential impact of the new enforcement regime, how to set data protection priorities and what a good privacy programme should look like.