The Virtual Assets Regulatory Authority (VARA) is a regulatory body established by the government of Dubai to oversee and regulate the virtual assets industry. In line with its mandate, VARA has issued a number of rule books, in particular the Compliance and Risk Management Rulebook (CRM), which sets out the regulatory framework for virtual asset service providers (VASPs) operating in Dubai ...
Merger control constitutes the analysis carried out by the Office for Competition (the ‘Office’) in its assessment of those corporate transactions notifiable to it. The aim behind such an assessment is for the Office to consider whether that transaction – taking the form of the creation of a ‘concentration’ – is likely to impede effective competition ...
The MFSA published a Consultation Document on proposed amendments to the Insurance Business Act (hereinafter referred to as the “IBA”) and the Insurance Distribution Act (hereinafter referred to as the “IDA”) on the 22nd of February. The MFSA also made available the draft legislation, as well as a podcast laying down the proposed amendments ...
Introduction Recent years have seen the UAE making regular updates to its laws in order to guarantee a legal regime that is forward-looking, and consistent with international standards and principles. The leaders of the UAE have been particularly cognizant of the need to have a robust criminal law regime to encourage legitimacy in business, and dissuade any unscrupulous activities that could reflect negatively on the UAE as a determined and fast-developing economy ...
U.S. businesses should take note of the enhanced benefits now available to companies that self-disclose misconduct or otherwise cooperate with the U.S. Department of Justice (DOJ) under the DOJ Criminal Division’s new Corporate Enforcement Policy.[1] The policy, as revised, governs not only the DOJ’s handling of matters under the Foreign Corrupt Practices Act (FCPA),[2] but also the DOJ’s handling of matters under other federal criminal statutes as well ...
In the past week, there were several important updates made to the Federal Acquisition Regulations (FAR) by the Department of Defense (DoD), General Services Administration (GSA), and the National Aeronautics and Space Administration (NASA) ...
In the past week, there were several important updates made to the Federal Acquisition Regulations by the Department of Defense (DoD), General Services Administration (GSA), and the National Aeronautics and Space Administration (NASA) ...
In the latest report published in December 2022 by the Fraud Advisory Panel in conjunction with BDO LLP, 100 UK based charities were surveyed. 69% said that they had experienced financial loss due to fraud. 58% said they believed that the risk of fraud will increase over the next 12 months ...
The Digital Markets Act (DMA) – which is underpinned by competition law - allows access to third parties to data previously held only by ‘Gatekeepers’, namely, large digital platforms, such as Google or Facebook ...
The Law on Competition (2018) (“Law”) is effective, but it is not fully implemented due to the lack of appointed regulatory authority. Hence only the Law’s merger provisions have been enforced through the regulator under the now repealed Law on Competition 2004, the Vietnam Competition and Consumer Authority, under the authority of Vietnam’s Ministry of Industry and Trade (“MOIT”) ...
It's the final countdown to the new Consumer Duty. After what feels like a lifetime of consultations, responses and commentary on the FCAs new Consumer Duty, the final countdown is upon us. With just over 5 months to go before the Consumer Duty comes into force, the big question is.. ...
The refinancing policies for listed companies on the Shanghai and Shenzhen Stock Exchanges will be revised as a part of the full implementation of the registration-based stock issuance system reform, in addition to the reform of the IPO-related rules ...
The most common form of legal practice in Nigeria is the one-man practice this could be in the form of either a sole practitioner or a sole proprietorship arrangement. In the sole practitioner arrangement, there is only one lawyer who is the owner of the firm while all other staff in the office are not lawyers but support staff. In the sole proprietorship arrangement, the lawyer - owner employs other legal practitioners to assist him in his practice ...
Introduction In recent times, the Court has been asked to hear cases where a General Partner ("GP") has failed to discharge its duties in relation to the affairs of an ELP. Without the co-operation of the GP, Limited Partners are often left bereft of information relating to assets of the ELP. They cannot properly realize their investments under the ELP and, even if they can, there is a spectre of doubt over whether the distributions represent their full entitlement in the assets of the ELP ...
Overview There is no sell-out right in the 2008 Law for minority shareholders to be bought out. However, the constitutional documents of the target Guernsey Company (the “Target Company”) may provide additional rights to minority shareholders. From 1 July 2009, a provision to appoint a body to regulate takeovers and mergers in Guernsey was introduced to the 2008 Law, under the Companies (Panel on Takeovers and Mergers) Ordinance, 2009 (the “Takeover Panel”) ...
In this JD Supra exclusive, Raspé shares his predictions for 2023, his perspectives on global legal practice, and things to consider when choosing a global legal services network. Herman Raspé is the current Chair of World Services Group, a premier global multidisciplinary professional services network composed of independent law, accounting, and investment banking firms ...
Legaltech news By Isha Marathe, Legal Tech Reporter February 01, 2023 While more in-house attorneys and general counsel depend on legal technology, traditional procurement processes, and an abundance of tools, is slowing down adoption, according to the Legal 500 Global Edition of GC: In-House Tech Survey 2023 ...
Canadian Lawyer Magazine By Lucy Saddleton 03 Feb 2023 In-house counsel are demanding that their external law firm partners are using the latest technology, with 92% saying it is either very or somewhat important in a recent survey providing global insights on trending legal technologies and how in-house counsel leaders are adopting, integrating, and utilizing technology ...
Australasian Lawyer By Lucy Saddleton 04 Feb 2023 In-house counsel are demanding that their external law firm partners are using the latest technology, with 92% saying it is either very or somewhat important in a recent survey providing global insights on trending legal technologies and how in-house counsel leaders are adopting, integrating, and utilizing technology ...
On January 30, 2023, the Commission for the Financial Market ("CMF") approved an amendment to the Stock Market Regulation applicable to Issuers Exempt from Registration with the CMF, corresponding to the “ScaleX Santiago Venture Exchange” section of the Santiago Stock Exchange ("ScaleX") ...
Overview A "financial firm business" will need: a licence to do so (a "Part III FFB Licence"); and to be regulated by the Guernsey Financial Services Commission (the "Commission") ...
This creates a discretionary exemption regime similar to that in the Regulation of Fiduciaries, Administration Businesses and Company Directors, etc (Bailiwick of Guernsey) Law, 2020. This is in addition to the list of class exemptions which the Commission has published in its Notice with respect to the disapplication of the requirement to hold a licence under section 40 of the Lending, Credit and Finance (Bailiwick of Guernsey) Law, 2022 ...
The Ministry of Immigration and Population of the Republic of the Union of Myanmar has issued a notice that updates the application process to extend eBusiness Visas for foreigners working for companies or engaging in business in Myanmar. All such applications must be submitted in the name of a company that is duly incorporated and registered at the Directorate of Investment and Company Administration (“DICA”) and must have the signature of the director of the registered company ...
