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As the pandemic continues, once again businesses are starting the New Year looking for more certainty. We are therefore taking a high level look at some key legal and regulatory certainties likely to have a significant impact on insurers and intermediaries in 2022. The following proposals are already (or imminently) either in force or in consultation.
In December 2021, the Bermuda Monetary Authority (BMA) published a number of consultation papers and stakeholder letters with proposals to refine and improve elements of the regulatory regime for insurers.
As directors manage and control the business of the company, safeguards are in place to ensure that directors act in the best interests of the company and do not put their own interests ahead of the company’s interests.
Case review 26-11-2021
On 12 November 2021, the Bermuda Supreme Court issued its written judgment in NKWE Platinum Limited v. Glendina PTY et al.  SC (Bda) 86 Com.
From FOREX to FTSE it can feel like the commercial world is already full to the brim with acronyms. However, if you are a business that deals with loans, bonds, derivatives or other financial instruments and contracts, it is time to include a new one in your vocabulary: SONIA.
Following the publication of The Legal 500 UK 2022, we are proud to announce that the firm has once again achieved impressive rankings and recognition within the latest guide to leading law firms and lawyers.
The convergence, announced in July 2021, on a “consensus-based solution” on base erosion and profit shifting by members of the OECD/G20 Inclusive Framework will have escaped the attention of few people active in the global insurance industry.
Our Manchester office has acted for Cheshire-based video games publisher and developer, Merge Games in its sale to Zordix AB.
The European Commission recently released a new set of Standard Contractual Clauses for the transfer of personal data from controllers or processors in Europe (or who are otherwise subject to the GDPR) to controllers or processors established outside Europe (and who are not subject to the GDPR). Special Counsel Nicholas Blackmore discusses the new Standard Contractual Clauses, and when businesses need to start using them.
Kennedys has continued its growth in the Middle East with the opening of a new office in Muscat, in the Sultanate of Oman. This office opening is in response to client demand for a presence in Oman, and sees Kennedys become the only international insurance-focused law firm in the country.