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The Securities and Commodities Authority issued Decision No.25/RM/2024 on the Regulation of Special Purpose Vehicles on 19 July 2024 (the Decision). The Decision, which applies “onshore” UAE (i.e., to the exclusion of the financial freezones), defines and categorises special purpose vehicles (SPVs), prescribes the application process for SPVs, sets out the duties and obligations of the person managing the SPV, and describes the circumstances in which SPVs may be terminated or liquidated.
In this article, Khalid El Sherif, Partner. Dispute Resolution, together with Abdulla AlHosani, Trainee Solicitor, Dispute Resolution, discuss the UAE Judiciary’s Stance on the Cheque as an Executory Instrument.
The amendments predominantly concern the establishment of two AML/CTF committees. In this article, Natalie Scott, Senior Counsel, Regulatory & Government Advisory, examines how these Committees build on existing AML committees and further enhance their powers and functions.
In the English case Gorbachev v Guriev [2024] EWHC 247 (Comm), two Russian witnesses gave evidence in the UAE as part of English Court proceedings.
The Abu Dhabi Global Market (“ADGM”) Whistleblowing Framework now protects good faith ‘protected disclosures’, provides a right to anonymity to the whistleblower and offers protection from reprisals.
In this article, George Anis, Senior Counsel, Regulatory & Government Advisory, provides a brief overview of carbon credits, including their regulatory framework while highlighting essential considerations in drafting effective carbon credit contracts.
The recent decisions of the UK High Court (2023) and Court of Appeal (2024) in the trade mark licensing dispute between Virgin and Alaska Airlines provide a number of ‘fly-aways’ as to the importance of clearly specifying, and understanding, what is being granted under an intellectual property licence.
When taking advantage of powerful technology such as online admission and registration platforms, UAE school administrators must look beyond the platform to ensure that the underlying contracts, signatures, payments, consumer rights and collection and processing of data are in compliance with relevant UAE (and sometimes international) legislation.
The DFSA recently updated its crypto token regime following the ending of the consultation period on a number of proposed legislative changes, set out in several consultation papers. The recent amendments, effective from 3 June 2024, update the DFSA’s rulebooks in relation to funds, custody, staking and the recognition of crypto tokens in the DIFC.
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