03/25/2022
Legal differences noted between UK bans on Russian aircraft and vessels
Airport operators are now able to direct pilots in command of Russian aircrafts whether to take off or not or order them not to land.
Government Regulation
03/25/2022
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.
03/25/2022
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.
03/25/2022
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:
03/25/2022
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.
03/25/2022
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.
03/24/2022
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.
03/24/2022
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.
03/24/2022
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.
03/23/2022
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
03/23/2022
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
03/23/2022
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
03/23/2022
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.
03/23/2022
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.
03/23/2022
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.
03/23/2022
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.
03/23/2022
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
03/23/2022
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.
03/23/2022
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.
03/23/2022
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.