09/10/2021
Latham & Watkins Advises on India's First Sustainable AT1 Notes Issuance
The transaction is also Axis Bank’s largest ever single-tranche USD bond issuance to date.
Government Regulation
09/09/2021
China's new personal information protection law setting new grounds
Unlike the Cybersecurity Law and Civil Code which focus on the data subject’s consent for PI handling, the PIPL authorizes the handling of PI in the absence of an individual’s consent
09/09/2021
UAE's anti-money laundering body endorses framework for virtual assets
In 2019, the financial crimes watchdog, the Financial Action Task Force, announced that cryptocurrency firms would be subjected to rules to prevent the abuse of digital coins such as bitcoin for money laundering.
09/09/2021
SEC & CFTC Enforcement Update
Three of the CFTC’s four actions concerned commodity pool fraud.
09/08/2021
No phone zone: mobile phone bans to improve safeguarding and behaviour in UK
Although the majority of schools have policies in place limiting the use of phones in classrooms, rules and sanctions have not always been applied consistently.
09/08/2021
EU Foreign Subsidies and Antitrust: an ongoing quest towards certainty and clarity
In a nutshell, if the Commission considers that foreign subsidies might distort the internal market, it can investigate and impose redressive measures.
09/08/2021
Luxembourg: driving the EU’s historic recovery programme
Linklaters Luxembourg was appointed by Credit Agricole Corporate and Investment Bank, as arranger, to implement a programme of debt issuance for the EU and Euratom.
09/08/2021
European Commission Publishes New AML / CFT Action Plan
The proposals aim to facilitate effective and consistent cross-border application and implementation of EU AML / CFT rules and introduce a new more stringent enforcement framework in the EU.
09/08/2021
Financial Services & Banking News
The Parliament will consider the proposed Directive during its plenary session to be held from 18 to 21 October 2021.
09/08/2021
UAE Announces New Federal Data Law
The Data Law seeks to find harmony between privacy, cost, compliance and commerce.
09/08/2021
PRIIPs KID – Commission publishes its proposed Level 2 RTS
The European Commission has formally adopted its proposed Level 2 measures regarding the content of the PRIIPs KID along with a delay to their application.
09/07/2021
Accidental Americans fundraise for latest US legal action
In a bid to force American embassies to resume processing citizenship renunciation requests
09/07/2021
Grand Court confirms test for liquidator independence
No other creditors expressed opposition to the appointment of the VLs and on the eve of the hearing, another significant creditor confirmed in evidence that it did not oppose their appointment.
09/07/2021
Snapshot: Cayman Islands Antecedent Transactions
These may also apply to Limited Liability Companies, Partnerships, Exempted Limited Partnerships and, in certain circumstances, to foreign companies, but this summary focuses on CayCos.
09/07/2021
Package designed to ensure financial market development and investor protection in the market
Changes regarding the tender offer to subscribe for the sale or exchange of shares in a company
09/07/2021
Jersey Private Funds – Use by Family Offices
In the last 12 months we have seen increased use of JPFs by family offices created by high net-worth and ultra high net-worth families.
09/07/2021
Disclosure of Beneficial Ownership in 2021 – Luxembourg Perspectives – Alert 5 of the Series
The Luxembourg Beneficial Ownership regulatory framework has been completed first with the issuance on February 15, 2019
09/07/2021
Financial Regulation: Daily Update
This would mean that short-term liabilities owed to these firms will continue to be exempt from bail-in under the Banking Act.
09/06/2021
WhatsApp fined €225m for GDPR transparency failings
The final fine imposed of €225m is much greater than the DPC had originally proposed to serve WhatsApp.
09/06/2021
German state-owned bank fined for Angolan loan exposed in Luanda Leaks
KfW-Ipex-Bank, an import-export bank, had loaned more than $55 million through an Angolan bank to a brewery controlled by Isabel dos Santos.