04/14/2023
‘Failure to prevent’ fraud offence to apply in UK to large organisations
The move comes at a time when fraud has been calculated to account for 41% of all recorded crimes in the UK.
Government Regulation
04/14/2023
Cayman Islands: recovery of foreign attorneys' fees for successful litigants
The Cayman Islands does permit foreign attorneys to be admitted on a temporary basis
04/14/2023
The reuse and transfer of data held by public sector bodies under the EU Data Governance Act
The new legal framework arising from DGA should improve the flow of data within European cross-sectoral value chains and create specific data common spaces in various sectors of the economy.
04/14/2023
New UK "failure to prevent fraud" offence
Significantly, anti-money laundering offences are not included.
04/13/2023
BVI update to the Economic Substance rules
The ITA issued such rules (the “ES Rules”) on 9 October 2019, and these wereupdated on 10 February 2020.
04/13/2023
The use of British Virgin Islands Trusts in the Middle East
The BVI specialist trust legislation is the Virgin Islands Special Trusts Act (VISTA), which disengages certain traditional trustee duties in relation to certain trusts that own shares in BVI companies.
04/13/2023
Transfer by way of continuation out of the Cayman Islands
The migration procedures and documentation are similar to that of the continuation of an Exempted Company.
04/13/2023
Proposed EU AML/CFT Regulation: Cryptoassets are key focus of ECON/LIBE Committees’ adopted position
While the package is broad ranging with the objective to strengthen the EU’s AML / CFT rules, there is a large focus on the cryptoasset industry, and last month’s vote was indicative of this.
04/12/2023
Credit Suisse Former Clients Likely to Come Under Heightened IRS Scrutiny for Credit Suisse's Purported Continued Role in the Hiding and Failing to Report Offshore Accounts
It goes without saying that this report, in conjunction with the recent turmoil in the international banking sector, raises additional questions regarding just how much money is held abroad in exotic locations and structures designed to obfuscate true own
04/12/2023
Heightened EU product safety rules introduce obligations for online marketplaces
Member states will now need to formally endorse the new rules, before their publication in the EU Official Journal and entry into force.
04/12/2023
Singapore streamlines foreign civil judgment reciprocal enforcement law
The consolidation of countries under the RECJA into the REFJA will allow a wider range of enforcement options under the REFJA route.
04/12/2023
Cross-border Guide on Arbitration-Related Court Proceedings
Understanding the varying approaches among the various domestic legal frameworks and the municipal nuances and intricacies within them can be the difference between a smoothly-run and effective process and a cumbersome and potentially ineffective one.
04/12/2023
New regulations requiring insurance companies to link databases with the Financial Regulatory Authority in Egypt
The Decree is intended to facilitate the FRA’s desire to establish an industry-wide online platform which includes sensitive data, and to link such data with the FRA’s database in real time.
04/11/2023
Abraaj Group Fraud - Summary Judgment For Receivers of Secured Lender For Information on the Fraud
The decision confirms that section 22 prevails as a substantive right, even where procedural rights to discovery may exist due to ongoing substantive litigation between the relevant parties.
04/11/2023
Service Not Included
Without an address for service, the other party may be left in difficulties in continuing to prosecute the claim.
04/11/2023
Latham & Watkins Represents Apollo in Apollo and RGA’s Collaboration on US$500 Million Capital Solution
New York corporate team advises the global alternative asset manager on the transaction.
04/11/2023
Home Performance Index
The HPI was introduced in 2016 and has recently been mentioned in development term sheets in the Irish finance market.
04/11/2023
Heightened EU product safety rules introduce obligations for online marketplaces
Another main change to the rules aims to make the removal of dangerous products swifter and the process of product recalls more effective.
04/11/2023
UK cloud market investigation proposed
It has now said that it has uncovered “practices and features that could limit competition”.
04/11/2023
Senior management functions: are you now within scope of the civil financial penalties regime?
Understanding your responsibilities is also really important, knowing which of the four categories outlined in the Notice your role falls into is essential for both you and the organisation you work for.