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European Commission Clarifies Obligations of Financial Institutions as to Frozen Funds

The Commission, emphasizing the requirement to prevent a change that would enable the use of the funds

EU: New Standard Contractual Clauses – From theory to practice

Most large companies have complex webs of data transfers to hundreds, if not thousands, of overseas recipients, many of which will depend on SCCs.

Supporting smart contracts under English law

It recently closed a call for evidence, to which Linklaters submitted its views.

Data reps not liable for actions of data controllers, says UK judge

Tasks of the designated representative include liaising with data subjects and regulators. The obligation to appoint a representative does not apply to public sector bodies.

UK guide on data transfer codes and certification anticipated

The legislation also provides for the endorsement of industry-drafted codes of conduct that are "intended to contribute to the proper application" of the law.

New Foreign Arbitral Institutions enter the Russian arbitration market

In May 2021, two more foreign arbitral institutions obtained the PAI status: the International Court of Arbitration of the International Chamber of Commerce (“ICC”) and the Singapore International Arbitration Centre (“SIAC”).

Transposition of ECN+ Directive into French law

Not all provisions of the ECN+ Directive had to be transposed into French law since some of the provisions were already in force in France.

Latham & Watkins Advises Aon in Agreements to Sell US Retirement Business and Aon Retiree Health Exchange Business

Multidisciplinary deal teams are advising on the transactions that provide further momentum on the path to close Aon’s pending combination with Willis Towers Watson.

Imposition of Secondary Liability on Relevant Parties for Breaching Hong Kong Listing Rules to Take Effect 3 July 2021

This proposal relates to the imposition of secondary liability on 'Relevant Parties' for Rulesi breaches, which we will discuss in more details in this Legal Update.

Crypto firms fall short on anti-money laundering rules, UK watchdog says

The cryptocurrency world has been plagued through its 12-year life by lax standards on money laundering and other illicit activities.

EU to Force Multinationals to Report Revenue in Each Country

Rules apply to companies with revenue over 750 million euros

BVI – revised Registry fees effective 1 July 2021

The Registry will only issue digital certificates as standard going forward: an additional US$50 fee will be payable where an original paper certificate is required.

EU Cross-Border Fund Distribution Rules - Are You Ready?

Despite the looming August 2021 deadline, to date, there has been quite a low level of local implementation across EEA Member States.

Supreme Court clarifies law on tax ‘discovery’ assessments

In 2009 HMRC opened an enquiry into Mr Tooth's loss claim under one statutory provision.

How much dry powder is there in the global M&A sphere?

Globally, there have been bold and decisive moves in the M&A sphere.

Private Funding of Legal Services Act, 2020: the codification and expansion of litigation funding in the Cayman Islands

The Act provides welcome certainty for litigants looking to manage the expense of litigating in the Cayman Islands.

UAE foreign ownership implementation and compliance deadlines: what companies need to know

The Decree Law abolished the requirement under Article 10 of the Companies Law for a UAE national to own 51% of the shares in the capital of a commercial company.

Enhanced RMB Conversion Arrangement for Bond Connect

The new arrangement presents new opportunities to settlement banks in Hong Kong as overseas investors investing in the CIBM via Bond Connect are given more choices in their selection of banks for the provision of foreign exchange services.

A key US watchdog wants officials to set up a ‘regulatory perimeter’ for cryptocurrencies

Officials around the world worry that the crypto boom is sucking in amateur traders who could get badly burned.

FCA publishes speech on the rise in scams and the threat to a legitimate financial services industry

Mr. Steward noted that there has been an increase in the number of investment scams over the past year, which is expected to continue rising.

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