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23 October 2008
Issue: 7342 / Categories: Legislation
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Legislation round-up

Legislation news update

In force

27 Oct 2008

Legislation
Insurance Companies (Overseas Life Assurance Business) (Compliance) (Amendment) Regulations 2008 (SI 2008/2627)

Summary
Amend the Insurance Companies (Overseas Life Assurance Business) (Compliance) (Amendment) Regulations 1995 (SI 1995/3237) to update cross-references to primary legislation. Guidance on the changes will be incorporated in HMRC’s Life Assurance Manual and its OLAB Guidance Notes.

In force
31 Oct 2008

Legislation
Statutory Auditors and Third Country Auditors (Amendment) (No 2) Regulations 2008 (SI 2008/2639)

Summary
Amend the Statutory Auditors and Third Country Auditors Regulations 2007 (SI 2007/3494) (SATCAR) to give effect to Commission Dec 2008/627/EC of 29 July 2008, concerning a transitional period for audit activities of certain third country auditors and audit entities. That decision is made under Directive 2006/43/EC on statutory audits of annual accounts and consolidated accounts. They make provision in respect of “exempt third country auditors”: auditors from a list of third countries set out in the definition of “specified third country” in reg 2(2). If the Professional Oversight Board (POB) has directed that other provisions of SATCAR are not to apply to such auditors, the provisions in these amending regulations apply to them.

In force
3 Nov 2008

Legislation
Bail (Electronic Monitoring of Requirements) (Responsible Officer) Order 2008 (SI 2008/2713)

Summary
Specifies the persons responsible for the electronic monitoring of a person’s compliance with a requirement imposed as a condition of bail. Electronic monitoring requirement is imposed in respect of more than one bail condition which relates to different police areas.

Issue: 7342 / Categories: Legislation
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MOVERS & SHAKERS

Signature Litigation—Catherine Naylor

Signature Litigation—Catherine Naylor

International fraud and asset recovery offering boosted by partner hire

Stevens & Bolton—Alexa Payet

Stevens & Bolton—Alexa Payet

Private wealth disputes team adds contentious probate specialist

Morgan Lewis—Paul Feldberg

Morgan Lewis—Paul Feldberg

Firm strengthens investigations and sanctions capabilities with London partner hire

NEWS
Cheshire West, which established an ‘acid test’ for deprivation of liberty safeguards, has been overturned by the Supreme Court
The Chancery Division and other segments of the High Court are to be replaced by a new Business and Property Division (BPD), in a major civil justice shakeup
Law firms that hold client money will need to file annual accountants’ reports and make a declaration, the Solicitors Regulation Authority (SRA) confirmed this week
Two district judges and a tribunal judge have been sanctioned for delays in delivering judgments and orders
Private equity (PE) investment into UK law firms halved to £250m last year, but deal volume rose, according to research by Acquira Professional Services’ Momentum private equity market tracker
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