Group Managing Partner Jason Romer has been quoted in Reports Legal's latest offshore report, which covers the impact of the recent collapse of FTX has had on the regulation of cryptocurrency, as well as how offshore law firms are helping clients to deal with the uncertain times of today while preparing them for better times ahead. The report also covers the the war for talent in the offshore legal industry.
On the fine balance of regulatory touch in the cryptocurrency space, Jason says: 'My philosophy would be: enough regulation to protect the vulnerable and not too much regulation to stifle innovation. It's inevitable and right that there needs to be more regulation in the crypto space. But too much regulation will dampen innovation and restrict what ends up happening. I don't envy regulators in that space.'
On offshore law firms operating in interesting times: 'It's been a roller coaster since 24 February 2022 - the day the [Ukraine] war started....Heading into recessions, unfortunately, that's when you see a lot of litigation happening....When you have a recession and stock markets and underlying investments not performing well, you also get a lot of trust litigation. It's a double whammy because you've a difficult period in terms of recessionary challenges and high interest rates, but also that generational shift in a private client context, which causes huge frictions in terms of the dynamics between one generation and the next.'
in terms of finding the best lawyers to meet client demand and deliver a platform for growth, Jason says 'the war for talent rages on.'
'There's no shortage of work - far from it. The real challenge, as it is for all firms right now, is capacity and attracting brilliant people.'
Read the Reports Legal piece in full here.
