In July 2018, the Australian Securities and Investments Commission (ASIC) announced that it has become one of the first signatories to a new co-operative agreement between international regulators in the UK, USA, Hong Kong, British Columbia and Singapore. In this article, Wotton + Kearney special counsel Naomi Miller discusses the resulting implications for companies engaging in cross-border financial transactions, conducts business through online platforms where data may be hosted overseas.
The increasing prevalence of multiple, open securities class actions in Australia has been an issue for some time. However, 2018 saw the issues assume greater significance with many instances of competing securities class actions commenced on an open class basis. This created overlap of group membership across each of the competing class actions and presented significant case management challenges for the Court and parties.
As businesses increasingly rely on the Internet, Directors & Officers (D&Os) risk a corresponding increase in cyber exposure. This trend has accelerated over the last couple of years as related statutes and regulations have begun to take hold. It is critical that D&Os be aware of the informal and formal standards that are being set regarding appropriate company cyber risk management.
Two recent decisions in the English courts involving class actions will have lasting implications on actions seeking collective redress. The decisions involve high-profile defendants MasterCard and Google and respectively involve the UK Consumer Rights Act of 2015 and the Data Protection Act of 1986.
D&O/FI insurers have seen a rise in SEC enforcement actions against their insureds. With limited arguments against coverage for outsized settlements, several of these insurers have been significantly on the hook for their insureds’ misdeeds.
Wilson Elser’s Philip Quaranta (Partner), Jonathan Meer (Partner) and Larry Wang (Associate) along with other members of the Asia practice and Jin Qian (Director of Information Research Services), joined with Legalign Global member firm DAC Beachcroft to host a delegation of 58 Chinese legal industry leaders, including managing/senior partners of more than 50 prominent Chinese law firms. The October 4, 2018, event was organized for the third consecutive year by iCourt, which offers the most popular professional legal training programs in China.
Insurance Remodelled, 2018/19 Market Conditions & Trends, a collaborative report in four versions tailored for each of the Legalign Global member firms, is now available to download. The key theme throughout this report is the changing nature of risk and how insurance must change with it.
In our first article, we reimagine the insurance market and highlight the opportunities and challenges it holds. In the three successive thought leadership pieces, we examine the complexities of global supply chains; ask if it's time for a rethink on cyber, conflict and cover; and in the final piece on natural catastrophes, consider if the market can withstand the storms.
While inconceivable just a few months ago, it is now reasonable to think that meaningful national cannabis reform during the Trump Administration is more likely than not. In this article, Wilson Elser partners Ian Stewart and Dean Rocco provide context and analysis for understanding the anticipated parameters of legalization and the obstacles that will be difficult to overcome, even with national cannabis reform. The authors caution that while federal legalization is on the horizon, it does not necessarily represent the “silver bullet” that will neatly resolve issues between conflicting state and federal laws. They also propose a path forward that they believe would best serve federal and state governments and the public at large.
The introduction of oxycodone HCI and similar “controlled release” narcotics has profoundly changed the scope and nature of opioid litigation. Accelerated by aggressive marketing campaigns and unscrupulous practices, Texas and other U.S. states are besieged by an opioid epidemic that shows no sign of abating.
Canada’s Personal Information Protection and Electronic Documents Act (PIPEDA) will go into effect. These amendments and related regulations impose new mandatory notification obligations on companies in the event of a breach involving the personal information of Canadians. In this article, Wilson Elser partner Anjali Das dissects the PIPEDA amendments and discusses their profound implications to organizations conducting business in Canada.