In Neal v. Nadir [2024] DIFC A 001, the Dubai International Finance Centre ("DIFC") Court of Appeal held that provisional arbitration awards issued by tribunals seated outside the DIFC are enforceable within the DIFC. The...more
While there are a number of ways in which organizations may become aware of potential wrongdoing internally, perhaps the most significant for its legal and compliance teams is internal reporting, or “whistleblowing,” by...more
5/15/2023
/ Cross-Border ,
Cross-Border Transactions ,
Employment Rights Act ,
EU ,
Financial Conduct Authority (FCA) ,
Foreign Nationals ,
Securities and Exchange Commission (SEC) ,
UK ,
United Arab Emirates (UAE) ,
Whistleblower Protection Policies ,
Whistleblowers
In Short -
The Situation: On 11 March 2022, Dubai Law No. 4 of 2022 Regulating Virtual Assets in the Emirate of Dubai (the "Law") came into effect. The Law establishes the foundation of a regulatory regime for virtual assets...more
In Short -
The Situation: On September 13, 2022, the United Arab Emirates ("UAE") Ministry of Justice ("MoJ") sent a letter to the Dubai courts stating that the MoJ considers the recent UK High Court decision in Lenkor...more
The DIAC 2022 Rules represent the culmination of six months of work by DIAC to reconstitute itself consistent with the Decree (see Jones Day's Insight about the Decree, "Disputes Disrupted? The Impact of Dubai's Decree No. 34...more
As the global digital asset industry continues to grow, regulators worldwide have increased efforts to define and shape the legal landscape through various approaches. In the UAE, for example, the Financial Services...more
10/25/2021
/ Africa ,
Bitcoin ,
Cryptoassets ,
Cryptocurrency ,
Decentralized Finance (DeFi) ,
Digital Assets ,
Digital Currency ,
Disclosure Requirements ,
Enforcement Actions ,
Ether ,
Financial Markets ,
Investment ,
Middle East ,
Popular ,
Regulatory Agenda ,
Regulatory Oversight ,
Token Sales ,
United Arab Emirates (UAE)
In Short -
The Situation: Dubai Decree No. 34 of 2021 (the "Decree") was issued on 14 September 2021 and became effective on 20 September 2021. The Decree cancelled—with immediate effect—two arbitration institutions in...more
10/14/2021
/ Arbitration ,
Arbitration Agreements ,
Business Disputes ,
Commercial Litigation ,
DIFC ,
Dubai ,
Implementing Decrees ,
LCIA ,
Mediation ,
Regulatory Agenda ,
Regulatory Reform ,
Rulemaking Process ,
United Arab Emirates (UAE)
Established in 1974, the CFTC was originally responsible for overseeing and regulating the commodity futures and options markets in the United States. Initially, its primary focus was to regulate trading of futures related to...more
The U.S. Department of the Treasury has removed the United Arab Emirates from its latest "List of Countries Requiring Cooperation With an International Boycott," easing certain tax reporting requirements.
On April 8, 2021,...more
On Monday, June 5, 2017, Bahrain, Egypt, Libya's eastern region-based government, the Maldives, Saudi Arabia, United Arab Emirates ("UAE"), and the internationally recognized government of Yemen severed ties with Qatar,...more
6/8/2017
/ Africa ,
Bahrain ,
Banking Restrictions ,
Egypt ,
Foreign Relations ,
Jordan ,
Libya ,
Mauritius ,
Middle East ,
Qatar ,
Saudi Arabia ,
Terrorism Funding ,
Trade Relations ,
Travel Restrictions ,
United Arab Emirates (UAE) ,
Yemen