09 Mar 2015

Linklaters and A&O set to join Wall St bank group against hackers

Allen & Overy and Linklaters are said to be planning to join a US group of leading firms which are setting up anonymous information-sharing facilities to fend off cyber attacks in the banking sector.

UK firms are joining a Wall Street initiative on cybercrime Robert Crum

As reported last month in The Global Legal Post, top Wall St law firms are planing to collaborate with the Financial Services Information Sharing and Analysis Centre (FSISAC), a banking group. However, the FSISAC is a banking group and cannot directly accept law firms. The law firm group will need to set up another structure - and might do this through the International Legal Technology Association. It is hoped to have the new arrangement in place for this summer. 

Sullivan & Cromwell

The first law firms to consider the planned co-operation moves with FSISAC were US firms. A more recent development is the naming of the two-London based practices in connection with the scheme. US firms which are said to be working on the project include Sullivan & Cromwell, Paul Weiss Rifkind Wharton & Garrison and Debevoise & Plimpton. Source: Legal Business