Legal Working Group - The Legal Landscape Under Transformation

Join us for the first session of our Legal Working Group.

Tuesday, 29 June 2021
12.30pm CEST – 1.30pm on Zoom.

Session Topic: The legal landscape under transformation

Summary:

The legal landscape not only is not the same that it was a few years ago, but it is continuously under transformation. In our first meeting we will discuss global trends and developments which impact the legal landscape and its most basic actors i.e., lawyers and law firms.

The discussion will focus on (i) crypto-currencies, a rather revolutionary development, and the framework of legal regulation under each country’s national laws, (ii) the concept of “substance” of companies which along with the  contemporary banking practices and austere requirements, marks the end of an era for “shell companies”, (iii) the relationship of the legal industry with technology, especially as a result of the pandemic and (iv) strengthened AML legislation, including the establishment of a UBO registry.

We will review recent practices in connection with the above and discuss about the implications these may engender for law firms, the services they have traditionally been providing, their clientele and a market for new, additional skills of employees which acquire value in the contemporary legal landscape.

Contributions are welcome:
Members are strongly encouraged to actively join the discussion and share their experiences and thoughts on this topic. As a guide, they can focus on the following questions with regards to the national laws of their countries and practice of their law firms:

•    What is the legal classification of crypto-currencies and have competent authorities in your countries issued any guidelines with regards to the treatment of such?
•    Do you have practical experience with clients whose activities relate to cryptocurrencies or have your firm ever accepted a payment with cryptocurrencies? Do you see that happening in the future?
•    What has been the approach of financial institutions in your country with regards to clients failing to prove substance? How simple or complicated it has become for clients to enter into business relations with financial institutions in your country?
•    Has your firm seen an increase or decrease of work in particular practice areas, for example corporate liquidation, merging and restructuring?
•    Have you informed your clients regarding the UBO registry and if so, what has been their reaction in connection to this?
•    What amendments in the manner of operation of law firms have accrued as a result of the pandemic and which of those do you think are beneficial and should stay?
•    How do you think all the above will impact the services provided by law firms, their employees or the gap between small firms and mega firms?

About the Legal Working Group:
Our technical working groups provide a forum for discussing practical cases and business opportunities.

Participation in the technical groups is open to all EuropeFides member firms and their staff members.
Please feel free to forward this invitation to your team members who might be interested.

The registration link has been shared with members. If you are interested in attending this webinar but did not receive the link, please contact Nina Fischer (office@europefides.eu).

We look forward to seeing you there!