06/22/2021
Brexit: less than 10 days to request a new residency permit
Tick Tock! Reminder to British Citizens Living in Luxembourg: Less than 10 days remaining to request a new residency permit before 30 June 2021
Government Regulation
06/22/2021
English High Court rules on scope of its power to determine jurisdiction of arbitral tribunals
The defendant chartered a ship from the claimant on a standard form.
06/22/2021
SEC charges three more defendants in alleged US$30 million ICO fraud
The SEC’s complaint charges Hamid, Gietz, and Page with violating, as well as aiding and abetting violations of, antifraud provisions of the federal securities laws and with violating securities registration requirements.
06/22/2021
Guernsey Economic Substance Update: Scope Extended to Include all Partnerships from 30 June 2021
These new regulations consolidate all existing regulations issued to date regarding economic substance in Guernsey and also extend the scope to include all forms of partnership (general partnerships, limited partnerships and limited liability partnerships
06/22/2021
BVI Commercial Court discharges injunction in hard-fought BVI proceedings arising out of high-value arbitration
The Judge's willingness to rely on the terms of an award against a non-party on an interlocutory basis may have wide-reaching implications given the increasing popularity of arbitration in the BVI.
06/22/2021
GDPR - EU Commission adopts new Standard Contractual Clauses
This judgement declared the EU Commission's decision on the adequacy of data protection provided by the EU-US Privacy Shield invalid
06/22/2021
(Shareholder) financing agreements and effectiveness towards the company: critical issues
Certainly the dividing line is not easy to draw, but it is an investigation to be carried out,
06/21/2021
A guide for company directors in Saudi Arabia
This guide aims to help Saudi Arabian companies and their investors
06/18/2021
MAS issues updated Technology Risk Management Guidelines
On an ongoing basis, FIs should ensure that third parties employ high standards of care and diligence in protecting data confidentiality and integrity as well as ensuring system resilience.
06/18/2021
EU legislators reach political agreement on CBCR
The provisionally agreed text will be submitted to the relevant bodies of the EU Council and the EU Parliament for political endorsement and then the EU Council will adopt its position at first reading.
06/18/2021
Cross-border fund distribution - ESMA publishes guidance on funds' marketing communications
These Guidelines further specify the requirements to be met by AIFMs, EuVECA managers, EuSEF managers and UCITS management companies
06/18/2021
Bank of England papers on new forms of digital money: our key takeaways
The Bank of England has had a busy month in matters of innovation.
06/18/2021
Ruling confirms possibility of parallel GDPR investigations
Amsterdam-based Wouter Seinen of Pinsent Masons, the law firm behind Out-Law, said: “This ruling erodes the ‘one stop shop’ mechanism significantly as it means the one stop shop does not absolutely protect multinational companies against
06/17/2021
European Commission outlines European Digital Identity framework
The Commission said at present, only 14% of key service providers across all 27 member states allowed cross-border authentication with an e-identity system – for example, proving an online identity without a password.
06/17/2021
Ruling confirms possibility of parallel GDPR investigations
The GDPR’s 'one stop shop' mechanism of regulation and enforcement was designed to enable businesses operating across the EU to deal with just one data protection authority instead of 27 different authorities across each member state.
06/17/2021
Solvency Statements Under Companies (Jersey) Law 1991-is it Time to go Paperless?
The Law imposes a requirement for directors to form a conclusion as to the solvency of a company as a prerequisite to a number of corporate actions including the repurchase of its own shares, a reduction of capital and the continuance of a Jersey company
06/17/2021
Taskforce Proposes New Approach to Financial Regulation in the UK
A report from the Taskforce on Innovation, Growth and Regulatory Reform provides recommendations for how the UK can “re-imagine” its approach to regulation post-Brexit.
06/16/2021
Net zero pledge to be required for UK government contracts
This new requirement follows the recent government trend of seeking to raise the significance of climate factors within public procurements
06/16/2021
Luxembourg data protection authority publishes first decisions
These decisions are just a small foretaste of more extensive and stricter supervision by the CNPD, as multimillion fines are being announced and data activists are appealing certain decisions of the CNPD where no fine was imposed.
06/15/2021
Proposal for power to block UK listings on national security grounds
The publication of the consultation follows concerns about the possible links between a listing and national security.