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Brexit: a risky business?

09 September 2016 / Frank Maher
Issue: 7713 / Categories: Features , Brexit
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What does Brexit mean for law firm risk, asks Frank Maher

Already there are press reports that some leading law firms are battening down the hatches in anticipation of either a full recession, or at least a downturn in activity in particular sectors such as real estate, following the UK’s referendum decision on 23 June 2016 to leave the European Union.

The risks to business and the wider economy have been widely explored in the press, and law firms can expect, to some extent, to follow the fortunes of their clients, but what are the professional liability risks which law firms may face? As we enter uncharted waters, this article attempts to explore some preliminary thoughts on where those risks may lie.

Cream of the crop

Many of the lawyers advising on Brexit issues will be among the cream of the profession and will doubtless have a thorough grounding in the area of law in which they practise. Errors of law were an infrequent source of claims in the past, but this is

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MOVERS & SHAKERS

DWF—19 appointments

DWF—19 appointments

Belfast team bolstered by three senior hires and 16 further appointments

Cadwalader—Andro Atlaga

Cadwalader—Andro Atlaga

Firm strengthens leveraged finance team with London partner hire

Knights—Ella Dodgson & Rebecca Laffan

Knights—Ella Dodgson & Rebecca Laffan

Double hire marks launch of family team in Leeds

NEWS
Charlie Mercer and Astrid Gillam of Stewarts crunch the numbers on civil fraud claims in the English courts, in this week's NLJ. New data shows civil fraud claims rising steadily since 2014, with the King’s Bench Division overtaking the Commercial Court as the forum of choice for lower-value disputes
Artificial intelligence may be revolutionising the law, but its misuse could wreck cases and careers, warns Clare Arthurs of Penningtons Manches Cooper in this week's NLJ
Bea Rossetto of the National Pro Bono Centre makes the case for ‘General Practice Pro Bono’—using core legal skills to deliver life-changing support, without the need for niche expertise—in this week's NLJ
The Supreme Court issued a landmark judgment in July that overturned the convictions of Tom Hayes and Carlo Palombo, once poster boys of the Libor and Euribor scandal. In NLJ this week, Neil Swift of Peters & Peters considers what the ruling means for financial law enforcement
Small law firms want to embrace technology but feel lost in a maze of jargon, costs and compliance fears, writes Aisling O’Connell of the Solicitors Regulation Authority in this week's NLJ
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