Herbert Smith Freehills

In a recent High Court decision, the court examined a claim against a bank for fraudulent misrepresentations made by its former corporate banking relationship manager, finding that the bank was vicariously liable on the basis that the employee had apparent authority to make the representations relied upon by the claimant: Vegesentials Ltd & Anor v

The Court of Appeal dismissed two appeals concerning decisions made by Government ministers under the Russia (Sanctions) (EU Exit) Regulations 2019 (the “2019 Regulations”). In doing so, the court discussed at length the role of both a first-instance court and an appellate court when reviewing decisions based on proportionality under the Human Rights Act 1998

On April 12, 2024, the US Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) issued two new restrictions which prohibit the import of Russian-origin aluminum, copper, and nickel into the United States and limit the use of such metals on global metal exchanges and in over-the-counter derivatives trading. This action stems from the

On 22 March 2024, the highest court of the Dubai International Financial Centre (‘DIFC’) rejected an appeal, ruling that a provisional award issued by a foreign seated tribunal providing for interim measures could be enforced as an ‘award’ in the DIFC. Former English High Court Judge, Justice Sir Jeremy Cooke, handed down the anonymized judgment

In this regular post, we round-up FinTech-related financial services regulatory developments for the week ending 12 April 2024.
ICYMI

By Shivchand Jhinku and Michael Absell
Could non-compete, non-solicit and non-disclosure provisions in employment contracts soon be a thing of the past?
Further to our previous update on this topic, the Hon. Dr Andrew Leigh MP, Assistant Minister for Competition, Charities and Treasury, and Assistant Minister for Employment, has officially launched a public consultation

Federal Court finds waiver despite contrary agreement in ASIC v Noumi Ltd [2024] FCA 349
By Andrew Eastwood, Bryony Adams, Maritsa Samios and Stephanie Crosbie
As ASIC continues to exercise its broad-ranging enforcement powers, companies are regularly asked to provide sensitive material to the regulator including documents covered by legal professional privilege. Under the present