12/14/2021
10 key changes under the new UAE Labour Law
This bulletin sets out 10 key changes which will be implemented under the New Law.
Government Regulation
12/14/2021
SEC issues additional LIBOR guidance for market participants
Funds and advisers should also monitor and manage any conflicts of interest associated with the transition
12/14/2021
UAE Federal Data Protection Law 2021
Businesses will then have a grace period of six months from the date of the Regulations to bring their organisations into compliance with the DP Law meaning enforcement is likely to commence from September 2022.
12/14/2021
Cayman Islands company restructuring officer regime
The introduction of a CRO is a welcome step to further enhance the Cayman Islands as an international restructuring jurisdiction.
12/14/2021
Jersey Funds Law Series - Data Protection (Jersey) Law 2018
In some cases data subjects will need to be notified.
12/14/2021
Daily Legal Update
The objective of a corridor risk assessment is determining the money laundering (ML) and terrorist financing (TF) risks of remittances in a corridor
12/14/2021
UK Financial Conduct Authority publishes the Swift Review into the Supervisory Intervention on interest rate hedging products
The FCA will ensure that any significant decisions on redress made in the future will be transparent, with appropriate governance, and supporting evidence will be properly recorded.
12/13/2021
AIFMD 2.0: European Commission Publishes Legislative Proposals
The Proposals also contain similar changes to the UCITS Directive to align delegation, liquidity risk management and regulatory reporting more closely
12/13/2021
French court set to rule on record UBS fine
The Paris appeals court is set to rule on whether to confirm or adjust the penalty against Switzerland's largest lender, which was imposed after an initial trial in 2019.
12/13/2021
Tanzania: introduction of UBO registration requirements
Going forward, the UBOs’ particulars shall be submitted annually together with the annual returns, failing which the annual returns will not be deemed as being filed.
12/13/2021
Harneys closes two Hong Kong pharmaceutical IPOs
It was one of the top ten private traditional Chinese medicine healthcare service providers in China in 2020.
12/13/2021
Ogier's real estate team act for lender in financing of Jersey's IFC6
Finance firm Aztec has confirmed it will lease 75% of the 68,000sq-ft office building, the construction of which is due to start immediately and with proposed completion targeted by November 2023.
12/12/2021
Financial Regulation: Daily Update
The PRA and FCA expect firms to carry out systemic reviews of their equity finance businesses and the risk management practices and controls deployed in those businesses benchmarked against the finding set out in the annex.
12/12/2021
EBA Report On The Application Of The Guidelines On The Remuneration Of Sales Staff
To that end, the EBA conducted a survey amongst a sample of 70 financial institutions from 12 Member States.
12/12/2021
FinCEN Issues Proposed Rule for Beneficial Ownership Reporting to Counter Illicit Finance and Increase Transparency
FinCEN strongly encourages all interested parties, including those that would be affected by the proposed beneficial ownership information reporting rule, to submit written comments.
12/12/2021
Fact Sheet: Beneficial Ownership Information Reporting Notice of Proposed Rulemaking (NPRM)
Few jurisdictions in the United States require legal entities to disclose information about their beneficial owners—that is, the people who actually own or control a company—or the persons forming them.
12/12/2021
Joint letter to banks operating in the UK
Our observations include weaknesses in the holistic management of risk across business units
12/12/2021
New transfer rules for combatting pension scams
The new requirements (and everything in this article) only apply to statutory transfers.
12/10/2021
Online Harms: What is the global state of play?
The fast moving legal landscape raises operational and compliance challenges for tech companies that operate globally.
12/10/2021
The UK Online Safety Bill: Harmful (But Legal) Content and What’s Next?
The lengths to which internet service providers can (or even should) be required to go in order to improve online safety remains one of the greatest challenges and uncertainties arising from this legislation and will be one of the key areas of focus as th