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Fines up to Dh1 million for breach of UAE's new Labour Law, warn lawyers

Luke Tapp and Ruth Stephen have been writing about this for Outlaw, commenting on the new implementing regulations that supplement the new labour laws.

Core role of Irish regulator in EU data protection cases highlighted

The purpose of the mechanism is to allow businesses to deal with just one data protection authority (DPA) in relation to their EU operations, as opposed to DPAs across all EU member states.

FinCEN Identifies Red Flags Following Russia Sanctions

In its alert, FinCEN warns that Russian and Belarusian actors may seek to evade sanctions through non-sanctioned financial institutions. In light of this risk, FinCEN encourages financial institutions to look for the following red flags:

Sanctions Tracker – US Russia Sanctions Designations and Gold Transactions Guidance

These designations coincide with President Biden’s diplomatic meetings in Europe and form part of a further set of Russia sanctions actions coordinated between the United States and its allies.

FCA and AIM Regulation removal of temporary relaxations

The FCA believes that market practice has evolved sufficiently since the onset of the pandemic such that issuers and advisers are able to return to previous practices and rules.

Letter from Sam Woods to Chief Executive Officers of banks and designated investment firms on the treatment of cryptoassets under the current frameworks

Firms should consider whether the standardised approach captures the full counterparty credit risks associated with many cryptoassets.

ESG - Sustainable Securitisation Report

The EBA recommends that the EU GBS should also apply to securitisation in order to ensure a level playing field across all types of green bond instruments.

BNY Mellon Fund Services fined €10.8m by Central Bank of Ireland

The investigation into BNY DAC found systemic weakness across its entire outsourcing framework.

Court rules ‘reasonable endeavours’ requirements do not force companies to avoid sanctions

The High Court of England and Wales ruled the ‘reasonable endeavours’ provision in the force majeure clauses within a contract between a shipping owner

SEC Proposes Landmark Standardized Disclosure Rules on Climate-Related Risks

The rule proposal, which was approved for issuance by a 3-1 vote by the SEC, is subject to a comment period that ends 30 days after the date of publication of the proposed rules in the Federal Register or May 20, 2022 (60 days after issuance of the propos

Biden Administration urges American companies to act quickly to improve cybersecurity safeguards

While the Administration noted the significant efforts being made by federal agencies and critical infrastructure partners to improve cybersecurity posture, the fact sheet and the President’s accompanying statement call on businesses of all sizes to

Denmark signs extradition treaty with UAE amid Dubai-based Brit tax fraud case

The government has been working for some time to get a general extradition agreement between Denmark and the United Arab Emirates.

Alisher Usmanov: Russian billionaire's UK homes beyond reach of sanctions after being 'placed in trusts'

"All of (Alisher) Usmanov's properties were settled into the irrevocable trusts long before the sanctions came," a spokesman says.

UK government outlines proposals to strengthen freedom of speech

Media litigation expert David Barker of Pinsent Masons said the proposals could bring the British system in line with other jurisdictions, notably the US where freedom of speech protection was stronger.

UK considers reform to online advertising regulation

The government said it could introduce a new statutory regulator to oversee the sector, backed with new information gathering and audit powers.

UK Government confirms no mandatory ethnicity pay gap reporting

More generally, the Government plans to strengthen the EHRC's ability to tackle discrimination and disadvantage by investing in the EHRC's enforcement activities

Creditor-Driven Winding Up Regime Introduced in Jersey

A company will be deemed unable to pay its debts if the creditor has served a statutory demand (in the prescribed form) on the company requiring payment of the sum due, and for 21 days the company has not paid the sum due.

Creditor-Driven Winding Up Regime Introduced in Jersey

Whilst the Jersey provisional liquidation regime is not currently as wide reaching as is the case in certain other offshore jurisdictions, the underlying concept and intention behind the regime is consistent.

Daily Legal Update

The proposal aims to bolster their resilience and response capacities against cyber threats and incidents, as well as to ensure a resilient, secure EU public administration, amidst rising malicious cyber activities in the global landscape.

MALTA: Submitting reports via goAML in line with regulation 15(4) of the PMLFTR

SPs were therefore requested to report a TRN for every pending transaction in addition to the STR/SAR.

Government Regulation