Regulators set to increase compliance risk for Aussie companies… Dentons invests in AI startup… KWM Europe bankers take second charge on assets…
Ashurst has been recognized for gender equality by the WGEA and becomes the only law firm to receive the citation for 16 consecutive years, since its inception.
The law firm was first recognized in 2001 by the WGEA’s predecessor EOWA.
The firm has committed to three gender targets to have (as a minimum) 40 per cent of new partners each year be women, 25 per cent of senior management roles to be held by women and 25 per cent of the firm's equity partners to be women by 2018.
As of May 2016, the firm says it is approaching these targets with 38 per cent female partner promotions, 18 per cent women in senior management roles and 16 per cent women as equity partners.
Regulators set to increase compliance risk for Aussie companies
Global regulators will be increasing their requirements in 2017 which will bring increased compliance risk for companies.
Herbert Smith Freehills has published its key regulatory developments forecast for 2017 which sees global regulators increasingly using technology such as artificial intelligence, which will make them more efficient but require more information from corporates.
“This will mean an increased burden for companies and they will need to ensure they are meeting regulatory requirements, not just in the jurisdiction they are headquartered but in all the countries they do business,” warns HFS Australian head of disputes Luke Hastings.
In Australia, the firm sees stronger powers for the ASIC ahead with increased reporting requirements for firms. Corporate culture will be a focus as regulators look at indicators of wrongdoing.
Dentons invests in AI startup
Dentons’ NextLaw has announced an investment in Beagle, a Canadian startup that is using artificial intelligence for self-service legal contract processes.
The service allows clients to access a platform which scans documents and highlights key information, reducing the costs for in-house teams. The software will be piloted by Dentons lawyers in Canada and the UK.
KWM Europe bankers take second charge on assets
King & Wood Mallesons European assets have been placed under a second debenture by Barclays Bank according to filings with the UK companies’ registrar.
The European arm of the verein has debts of around £30 million (AU$51 million) but says it has the support of its bankers as it seeks to shore up the business.