Shearman & Sterling hosted a series of webinars focusing on legal risk, which explored the opportunities and challenges it represents. For many businesses, including those in highly regulated industries, it is important to identify potential areas of legal risk and understand how to navigate these successfully.
We invite you to watch past webinars on-demand below where our partners shared their latest insights and thoughts.
COVID-19: Latest Updates on UK and EU Financial Regulatory Issues
Speakers: Barney Reynolds & Thomas Donegan
- Coronavirus (COVID-19) has impacted the UK and EU financial regulatory landscape, with regulators, central banks and supervisory authorities announcing quick and decisive measures in response to the pandemic.
- Regulators have taken swift action to minimise the financial impact of this crisis by ensuring banks support the real economy and remain vigilant to new risks, whilst a host of disparate measures from topics as diverse as senior management, reporting and short selling have been introduced.
- During this webinar, we discussed the impact of the latest developments for the EU and UK financial services sectors.
Watch "COVID-19: Latest Updates on UK and EU Financial Regulatory Issues" on-demand.
View the "COVID-19: Latest Updates on UK and EU Financial Regulatory Issues" presentation.
Managing Financial Crime Risks in Challenging Circumstances
Moderators: Susanna Charlwood & Simon Dodds
Speakers: Philip Urofsky, Brian Burke, Thomas Donegan & Mathew Orr
- Even in the most challenging circumstances, regulators and law enforcement agencies are clear that businesses must maintain effective measures to prevent and detect financial crime.
- Businesses can meet their legal and regulatory obligations during periods of disruption and uncertainty by implementing robust policies and procedures.
- The panel examined the steps that businesses can take to manage financial crime risks during unexpected events and the practical challenges that organisations are likely to face.
- The panel also considered whether organisations can learn anything from the approaches being taken by regulators and law enforcement agencies across the globe in response to the current crisis.
Watch "Managing Financial Crime Risks in Challenging Circumstances" on-demand.
Managing Legal Risk in Times of Crisis
Moderator: Barney Reynolds
Speakers: Robert Mundheim & Simon Dodds
- In times of crisis, without adept legal risk management, firms can face institution-threatening exposures and liabilities and miss opportunities to manage or mitigate risk.
- During this webinar we discussed the role of lawyers and others in addressing legal risk for financial institutions by ensuring proper management interactions between all control functions, addressing the overlap between legal and compliance and ensuring adequate legal thinking in the risk function.
Watch "Managing Legal Risk in Times of Crisis" on-demand.
Access the "Legal Risk Management in a Crisis" perspective.
Restructuring Distressed Assets
Speakers: James Webber, Marwa Elborai & Philip Stopford
- Coronavirus (COVID-19) has impacted the UK economy resulting in the increased likelihood of certain businesses entering into a form of restructuring. Our speakers explored the different stages some companies may go through and offer practical advice:
- Initially, companies may need to balance their existing financing with negotiating a debt restructuring proposal.
- Putting together a restructuring proposal – what are the key factors and options?
- Factoring in COVID-19 specific government support – pros and cons of the different types of support.
- Operating within a new financing package – managing new obligations.
Watch "Restructuring Distressed Assets" on-demand.
The UK’s New Subsidy Regime: Designing a Better Mousetrap
Speakers: James Webber & Sir Jonathan Faull, Chair of European Public Affairs, Brunswick
- Sir Jonathan Faull and James Webber discussed the U.K.’s decision to develop an independent U.K. subsidy control regime, including the reasons to move away from EU State aid rules as well as the costs and opportunities it creates.
- This change is perhaps the most significant divergence from EU norms that the Government has yet announced. It will affect those who seek subsidy as well as those who compete against or finance subsidised firms. It’ll make U.K. industrial strategy more relevant and more sensitive to political change.
- For better or worse, companies and financial institutions will need to think much more deeply about this idiosyncratic corner of the law than has historically been the case.
Watch "The UK’s New Subsidy Regime: Designing a Better Mousetrap" on-demand.