Saudi Arabian Corruption Crackdown-What does it mean for Compliance?
FCPA Compliance Report-Episode 357, Paradise Papers and Saudi Arabia Corruption Crackdown
FCPA Compliance and Ethics Report-Episode 109-interview with Bill Michael on the SEC FCPA enforcement action against FLIR employees
The one-year transition period granted to bring businesses’ activities into compliance with the Personal Data Protection Law of the Kingdom of Saudi Arabia is about to end on September 14, 2024. Given the law’s...more
Thomas Paoletti, Managing Partner at Paoletti Law Group, provides expert opinion on ESG in the Middle East – the current situation and what still needs to be done to work towards a more sustainable future....more
On 6 August 2024, the Council of Ministers approved amendments to the Kingdom of Saudi Arabia (“KSA”) Labor Law and its Implementing Regulations. These will come into force on 19 February 2025, 180 days after being published...more
On August 11, 2024, the Kingdom of Saudi Arabia (the “Kingdom” or “Saudi Arabia”) issued the new Investment Law, pursuant to Royal Decree number M/19 (the “New Investment Law”), which is intended to replace the Foreign...more
The law, which took effect in June, impacts developers, investors, lenders, operators, and suppliers in the Saudi railway sector. As Saudi Arabia continues to make significant advances in urban development and mobility,...more
On August 11, 2024, the Kingdom of Saudi Arabia unveiled a new Investment Law, which repeals the existing Foreign Investment Law (“New Investment Law”) to enhance attraction of international investments and equality between...more
On May 20, 2024, the Ministry of Human Resources and Social Development (“MHRSD”) in collaboration with the Ministry of Municipal Rural Affairs and Housing announced their goal of increasing the Saudization ratio in the...more
The Council of Ministers in the Kingdom of Saudi Arabia (KSA) recently approved a number of amendments to the KSA Labour Law, which will come into effect six months from publication in the KSA Legal Gazette. The amendments to...more
The launch of the Kingdom of Saudi Arabia’s (the Kingdom) Vision 2030 Program preceded the announcement of numerous ground-breaking Mega and Giga-projects throughout the country. Eight years on, recent MEED data estimates...more
The Kingdom of Saudi Arabia has embarked on a significant legal reform with the introduction of its first Civil Transactions Law (the “Civil Code”), which took effect on December 16, 2023. Originally published in Law...more
Construction is a $1.7 trillion industry worldwide, contributing between 5 and 7 percent of GDP in most countries. However, it is also an industry that is highly vulnerable to corruption due to its inherent characteristics....more
On May 3, 2024, the Zakat, Tax and Customs Authority (“ZATCA”) issued amendments to the Real Estate Transaction Tax (“RETT”) Implementing Regulations. The RETT Implementing Regulations were first introduced on October 4,...more
The Kingdom of Saudi Arabia (KSA or Kingdom) is a sovereign state located in the Middle East between the Red Sea and the Arabian Gulf (sometimes referred to as the Persian Gulf) and is one of the member states of the Gulf...more
Saudi Arabia is yet to enact AI Regulations, relying on guidelines to establish practice standards and general principles. Laws/Regulations directly regulating AI (the “AI Regulations”) There are currently no AI...more
The Saudi Exchange published its guideline manual for foreign companies offering and/or listing on its Main Market. While current capital markets regulations and rules in Saudi Arabia permit such offerings, the lack of a...more
Sena Gbedemah, a construction specialist for Ankura in Saudi Arabia, explains how to avoid common pitfalls while negotiating acceleration agreements. As Vision 2030, the 2029 Asian Winter Games, and Expo 2030 get closer,...more
Effective January 1, 2024, multinational companies (“MNCs”) intending to do business in Kingdom of Saudi Arabia (“KSA”) with a KSA government entities are required to incorporate their regional headquarters (“RHQ”) in KSA. ...more
The healthcare and life sciences ecosystem is witnessing significant growth in the Middle East as the GCC continues to seek economic diversification. The United Arab Emirates (UAE) and Kingdom of Saudi Arabia (KSA) are...more
The Government of the Kingdom of Saudi Arabia (“Kingdom”) in February 2021 announced its objective to limit governmental contracting with multinational companies (“MNCs”) that do not have a Regional Headquarter (“RHQ”) in the...more
يُعد نظام حماية البيانات الشخصية (النظام) أول نظام شامل لحماية البيانات في المملكة العربية السعودية. من المتوقع أن تبدأ الهيئة السعودية للبيانات والذكاء الاصطناعي (الهيئة) في الإنفاذ الكامل للنظام اعتبارًا من 14 سبتمبر 2024،...more
The global finance industry has been undergoing a significant shift in recent years, with investment patterns showing a slow but steady pivot towards Low Income, Lower Middle Income, and Upper Middle Income nations, as...more
The PDPL has broad extraterritorial scope and substantial penalties for non-compliance, with full enforcement expected to start in September. The Personal Data Protection Law (PDPL) is the first comprehensive data...more
The General Authority for Competition imposed significant fines against two companies for failing to submit a merger control filing for an economic concentration that meets the notification thresholds. The fines come on the...more
To mark Riyadh International Disputes Week we wanted to share our Middle East International Dispute Resolution Compendium, which discusses recent developments in the dispute resolution landscape across the region including...more
The recent detention of a restructuring professional in the United Arab Emirates serves as a stark reminder that directors and officers of insolvent or distressed companies can face personal liability for their actions or...more