New Anti-Money Laundering Law
The new anti-money laundering (AML) law of the UAE took effect at the end of October 2018. Containing features recommended by the Financial Action Task Force (FATF), the new law introduces subtle but important changes to the AML landscape in the UAE.
Confidentiality Under Renewed Focus
The UAE federal government has recently issued a raft of important legislation, addressing and in many ways updating areas of law that are key to businesses in the jurisdiction. Amongst this legislation is Federal Decree-Law 14 of 2018 concerning the central bank and the organisation of financial institutions and activities (the New Banking Law) and …
Protecting Business Interests Following Termination of Employees
In today’s world, one of a businesses’ most valuable asset would be its know-how, client base and trade secrets, all of which are becoming increasingly more difficult to protect with the rate of employment turnover of 2018.
Austrian Data Protection Authority Issued The “black List”
Processing operations subject to the requirement of a data protection impact assessment. Following the "White List", the data protection authority has now also issued the long-awaited "Black List" in form of a binding regulation. This provides greater clarity as to when Data Protection Impact Assessments ("DPIA") are actually to be carried out in practice in …
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Security Token Offerings (STOs): The Future of Coin Offerings
The term ICO has been at the epicentre of discussions in the FinTech industry, being the main method of fundraising used by startup companies to develop innovative ideas on the Blockchain technology or other applications using Distributed Ledger Technology (“DLT”).
CSSF issues circular on governance and organisation of non-UCITS fund depositaries
Luxembourg's financial regulator, the Commission de Surveillance du Secteur Financier, published on August 23 CSSF Circular 18/697 on organisational requirements applicable to depositaries of funds that are not subject to the UCITS rules set out in Part I of the investment fund legislation of December 17, 2010 and to their branches.
New draft of AIFMD update eases pre-marketing requirements
The European Commission has put forward amendments to the 2011 Alternative Investment Fund Managers Directive that includes clarifying and setting out uniform rules on what constitutes ‘pre-marketing’ activity, a topic that has been an area of controversy since the directive came into force in 2013. However, the rules have been eased in a fresh draft …
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Maltese Court of Appeal: Employee Email Addresses Constitute Personal Data
On the 5th of October 2018, in the case of Doreen Camilleri vs Commissioner for Information and Data Protection, the Court of Appeal reversed a decision previously taken by the Appeals Tribunal for Information and Data Protection and held that an employee’s email address constituted personal data.
Privilege in regulatory investigations: UK Court of Appeal supports a broad approach
Last week, the UK Court of Appeal released its much-anticipated judgment in ENRC v SFO[1], a decision with significant implications for the scope of legal professional privilege in the context of regulatory investigations.
Overseas Investment – review announced just as new regime comes into force
Just days before amendments to New Zealand’s overseas investment regime take effect, the government has announced its intention to undertake a further review of the legislation.