03/21/2021
A fundamental change to doing business in the UAE: The new Economic Substance Regulations
This new legislation was sufficient for the EU to remove the UAE from the EU blacklist in late 2019.
Government Regulation
03/19/2021
Pensions Regulator issues draft guidance on new criminal powers
What it means for restructuring activity
03/18/2021
Cyprus regulator comments on new EU Sustainable Finance Disclosures Regulation
he SFDR forms part of a package of regulations on the Union’s Environmental, Social and Governance (ESG) policy.
03/18/2021
ICDR Introduces 2021 Rules Amendments
In an effort to promote transparency regarding ICDR decision-making on arbitrator challenges and other administrative determinations, the 2021 ICDR Rules introduces a new Article 5
03/18/2021
Follow up: The Federal Government’s perspective on an employer’s mandate to vaccinate
Employers should continue to monitor the Guidance Materials and review the particular circumstances of their workplace.
03/18/2021
“Put scams in the Online Safety Bill, or leave millions of vulnerable people at risk of financial harm”, warns Martin Lewis charity
This is in part due to the impact of common symptoms of mental health problems — such as low mood, reduced concentration or impulsivity — which can make it harder for people to control online sending or spot potential scams online.
03/18/2021
SEC makes clear an ESG disclosure framework is coming and opens comment period on potential climate change disclosures
Beyond climate issues, Lee also made clear in her statements that, moving forward, the SEC will focus on the broader implications of ESG
03/18/2021
BVI Introduces Significant New Trust and Estate Legislation
The recent Trustee (Amendment) Act builds on the earlier reforms to the original Trustee Act which were made in 1993, 2003 and 2013.
03/18/2021
Further Amendments to the BVI’S Trust and Estate Legislation 2021
The Administration of Small Estates (Amendment) Act implements a long overdue increase in the qualifying value for the Administration of Small Estates Act.
03/18/2021
Rumours of Hong Kong’s Death Have Been Greatly Exaggerated
The US went further still with the removal of Hong Kong’s separate status from China under certain provisions of US law.
03/18/2021
ESG Impact Assessment - Sell and Buy Side
In 2006, the United Nations announced its Principles for Responsible Investment,.
03/18/2021
Is the UK preparing to depart from the GDPR?
In the meantime, in an interview with the Wall Street Journal, EU Justice Commissioner Reynders suggested that a replacement for the EU-US Privacy Shield could take years rather than months.
03/18/2021
£550,000 fine for Jersey trust company demonstrates importance of effective and consistent anti-money laundering procedures
LGL established the partnership and incorporated two Jersey companies to act as limited and general partner.
03/17/2021
Irish Regulation in Focus: Culture and Individual Accountability
The Central Bank expects firms' actions to be aligned with the expectations of its customers/investors and will take action where it believes firms (and senior management) are falling short of this expectation.
03/17/2021
The EU Sustainable Finance Disclosure Regulation is live – what can we expect?
SFDR can be summarised as follows: the regulation is intended to contribute to the higher goal of transitioning the EU to a low-carbon
03/17/2021
Climate change the use of litigation to force governments to act
The French case followed the Dutch Supreme Court's December 2019 landmark decision in the "Urgenda litigation" that the government of the Netherlands had breached its duty to prevent climate change, and must take steps to cut greenhouse gas
03/15/2021
UK Pensions – The Pension Schemes Act 2021: sanctions for avoiding employer debt
Any such penalty would be paid to the Government rather than to the scheme.
03/12/2021
Common law recognition of foreign insolvency proceedings survives in the BVI, and assistance is statutory
The Court ordered the Trustee in bankruptcy to take steps in the BVI to register himself as shareholder of Net International in accordance with the company’s articles.
03/12/2021
Australia's banking regulator ends Westpac money laundering probe
In a separate statement, Westpac acknowledged APRA’s decision to end the probe.
03/11/2021
Emerging from the legislative fog: the UK’s transformative foreign investment regime comes into sharper focus
These developments have shed light on some key issues - including by providing further clarity on the scope of the sectors in which notifications will be mandatory - but significant questions remain outstanding.