The Cayman Islands’ new Economic Substance Law, which targets multinational using strategically placed subsidies to lessen taxation, is impacting Hong Kong hedge funds, according to lawyers the legislation, which came into force in this year after concerns were expressed by the European Union, targets large companies that move their IP to subsidiaries located in low-tax jurisdictions.

As alternative legal service providers (ALSPs) become significant competitors within the legal market, clients are increasingly viewing them as a serious standalone option, occasionally in place of traditional law firms.

If the past summer of upheaval has shown us anything, it is that Hong Kong is a truly resilient city. This has been reflected in the city’s legal market, which has seen a steady flow of work despite not just the protests, but also the trade war, as well as industry-specific factors like changing client demands. In this feature, leaders of four firms in the city talk about how the past year has been, and what 2020 holds.

Last year, Thailand made headlines after becoming the first Southeast Asian country to legalise cannabis for medical use and research. And more recently, after amending the 1979 Narcotics Act, the newly elected Thai government declared that developing a medical cannabis industry was a top policy objective.

A partner at Mayer Brown’s London office has rejected his inclusion in a Chambers and Partners 2020 ranking, calling on other male lawyers included in the list to follow suit until a greater number of female lawyers are recognized.

M&A challenges and evolving attitudes to compliance were among the key issues discussed at Asian Legal Business’ 16th annual Hong Kong In-house Legal Summit, which was held at the JW Marriott Hotel Hong Kong on Sept. 12.

Backed by a strong baht and loaded with cash, Thai companies have ramped up acquisitions overseas, with neighbouring countries in the ASEAN region offering some of the most attractive targets. And while developing economies such as Vietnam, Myanmar and Cambodia offer exciting opportunities, those come with challenges as well, lawyers say.

The Japan Federation of Bar Associations (JFBA) recently called on the Japanese government to legalise same-sex marriage, the latest example of how the country’s legal community in the fight for marriage equality.

According to the Thomson Reuters Legal Executive Institute’s 2019 “Dynamic Law Firms” study, law firms leading the market in improving their financial performance tend to spend significantly more on marketing and business development than their peers. Firms today are realising that they can’t get by on reputation alone; sometimes a marketing push is necessary.