Poland: Further Changes to Data Protection Laws in Poland

On 4 May 2019, further amendments to the rules on processing personal data came into force. They concern over 150 legal statutes and refer...

Singapore: Monetary Authority of Singapore Consults on Proposed Payment Services Regulations

On 10 April 2019, the Monetary Authority of Singapore (MAS) issued a consultation paper on the Proposed Payment Services Regulations (Consultation Paper).1 You may...

China issues a new consolidated law on foreign investment

On March 15, 2019, the National People’s Congress (NPC) of the People's Republic of China (PRC) passed the Foreign Investment Law of the People’s Republic of...

US: Regulations Address FATCA Verification and Certification Requirements

On 21 March 2019, the US Internal Revenue Service (IRS) issued final regulations (the Final Regulations) relating to FATCA verification and certification requirements. FATCA...

Global Legal Guide for Luxury & Fashion Companies

Despite geopolitical shifts, uncertainty and various factors that seem to affect numerous sectors, the global luxury and fashion industry has tripled in the last...

The Netherlands: From 2020 Dutch Businesses Must Register Their Beneficial Owners

The register of ultimate beneficial owners in the Netherlands will be introduced in January 2020. A legislative proposal to this effect was submitted to...

South Africa: Banking Law Developments

South Africa has a sophisticated banking system that aims to ensure economic stability, consumer protection and institutional safety. Numerous new laws are in the...

Ukraine: Shell Companies Face Scrutiny

On 3 April 2019 the National Bank of Ukraine ("NBU") unveiled the details for operation of current accounts by foreign companies in Ukrainian banks....

UAE Issues Cabinet Resolution Implementing the New AML Law

The AML Resolution introduces a number of significant enhancements to the UAE AML regime including:(a) the introduction of the "risk-based approach" to AML regulation, whereby...

UAE: Strengthening Compliance Against Financial Crime: Recent Developments and Enforcement Trends in the UAE

Greater scrutiny into financial crimes The newly enacted Federal Law No. 20 of 2018 on Anti-Money Laundering Law (AML Law) contains important improvements over the...

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