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FATF Public Statement on Pandora Papers

The FATF has long warned of the dangers associated with networks of anonymous shell companies and legal arrangements.

UK Government publishes National Artificial Intelligence Strategy

This announcement comes only a few months after the European Commission published its own comprehensive proposals for regulating AI technologies.

Luxembourg Securitisation Bill and Amended Draft Law : A bright future for CLOS

While very flexible, the Law contains a certain number of restrictions that constituted an impediment to particular types of arrangements and structures.

English law trumps Italian contractual arguments in swaps litigation

The English High Court interpreted the Italian Supreme Court decision as being based on principles of Italian contract law

UK government commits to regulating for future payments innovation

Financial regulation expert Andrew Barber of Pinsent Masons, the law firm behind Out-Law, said this suggested that the government considered the current voluntary contingent reimbursement model code for APP scams was not providing enough protection for cu

The Climate Financial Risk Forum publishes second set of guides

A second round of guides to help financial firms manage climate-related financial risk has been published by the Climate Financial Risk Forum (CFRF).

Netherlands passes law for more gender equality in leadership positions

The new regulation replaces an earlier ordinance that was based on the 'comply or explain' principle and applied from 2013 to 2020

BIS Announces New Export Controls on Cybersecurity Items Used for Malicious Cyber Activity

This long-anticipated rule codifies several years of negotiations surrounding controls on “intrusion software” codified in the multilateral Wassenaar Arrangement

How stricter rules on foreign investment screening impact tech M&A in Europe

A new EU regulation effective since October 2020 provides some additional guidance on the supranational level to promote harmonisation and cooperation between the EU member states.

Fourth TCFD Status Report Highlights Greatest Progress to Date on TCFD Adoption

The TCFD also released new guidance for companies to disclose their plans for a net zero transition in line with the Paris Agreement, including disclosure of seven categories of cross-industry metrics like Scope 1, 2 and 3 GHG emissions

Norwegian DPA fine Ferde AS for data transfer issues

Through a news report on the Norwegian national broadcaster, NRK, the Norwegian Data Protection Authority learned that Ferde AS transfers data related to vehicles passing through toll collection points to a data processor in China.

Data sharing: a code of practice

This code will guide practitioners through the practical steps they need to take to share data while protecting people’s privacy. We hope to dispel many of the misunderstandings about data sharing along the way.

CS receives $475m ‘tuna bonds’ fine

FINMA’s investigation focused on how the bank managed and controlled observations, which can involve significant legal and reputational risks.

Mozambique loans: FINMA concludes proceedings against Credit Suisse

Overall FINMA concludes that the Group’s risk management in connection with the Mozambique loans was seriously deficient.

SPACs: what should be included in a Luxembourg prospectus?

This Public Statement has been supplemented by specific guidelines issued by the Luxembourg Stock Exchange (LuxSE) in August 2021.

BVI and Nevis trusts case a 'dangerous game of double or quits' rules High Court judge

A few days later the UK company set up a remuneration trust (the First trust) for the benefit of its employees excluding Mr and Mrs Bhaur, to be funded by the transfer of the beneficial interest in the properties.

Funds & Investment Management Update- Ireland And Luxembourg- Q3 2021

The Central Bank's approach in relation to cryptoassets will be kept under review

Dutch regulatory authorities strengthen cooperation over regulation of digital activities

Martijn Snoep, chairman of the board of ACM added that a coherent and coordinated approach was needed to respond effectively to the rapid pace of new developments in the digital landscape.

New operation to protect next generation EU recovery funds

Launched at Europol, Operation Sentinel will contribute to a concerted response to an expected fraud wave

UK Outlines Beneficial Tax Treatment For Asset Holding Companies

The enhancements to the UK fiscal framework will aim to capitalise on the UK's strengths

Government Regulation