Micro News

Micro News

The UK Jurisdiction Taskforce has propelled a public consultation on the status of crypto assets and contracts finding loopholes in contracts under English and Welsh legislation. The enquiry will be looking for input on the apparent legal uncertainties and vulnerabilities regarding crypto-assets that…


The England & Wales Court of Appeal have requested an Iranian bank to deliver uncensored records to court for the trial, despite the fact that the bank will be infringing upon Iranian criminal law by doing so. The proceedings were brought by the Mellat Bank against the UK government; asserting that sanctions…


Global AML campaigners have been speaking up about the results of a specialist report commissioned by the British Columbia government, which estimates that approximately CAD $5.3 billion of unlawful funds have been passed into the Canadian economy using sales of property in the region, the majority of…


FinCEN, the US Department of the Treasury's (Financial Crimes Enforcement Network) has distributed direction on how to approach convertible virtual currencies (CVCs), in light of enquiries raised by many authorities. Regulators, law enforcement and financial institutions have all reportedly been in touch…


Last week, movements further developed in the recent string of Swiss banking prosecutions. German Prosecutors from Baden-Württemberg have officially charged UBS Deutschland AG (subsidiary of UBS Europe SE) with assisting several of its German clients to circumvent the payment of taxes between 2001 to…


Section 3 of the UK Matrimonial & Family Proceedings Act 1984 has been the basis of a vast family law case in the English courts this week. Whereby a lady from Russia who divorced her husband last year has appealed and successfully obtained an extra GBP £5 million lump-sum award in financial aid after…


The UK government has rejected the notion to of a centralised register of politically exposed persons (PEPs) making them subject to stricter anti-money laundering regulations. Rejecting a recommendation from the parliamentary Treasury Committee, they stated that a centralised database would encourage…


A recent amendment to India national law: Companies [Significant Beneficial Owners] Rules 2018requires every ‘significant’ beneficial owner of an Indian company to have submitted their interest to the company by the stipulated deadline of May the 9th. The original intention of the regulations was issued…


Middle Eastern law firm Al Tamimi discusses the EU's blacklisting of the United Arab Emirates and Oman as 'non-cooperative tax jurisdictions' and its implications for businesses operating and seeking to invest in the UAE. The report summarises as follows:  EU Members can choose to apply defensive…


UAE Prepares for FATF Visit & Inspection

Abu Dhabi Global Market has tightened its regulatory framework for combating money laundering, terrorist financing and the financing of unlawful organisations, as part of the United Arab Emirates' preparation for its assessment by the global Financial Action Task Force (FATF) in July or August this year. The…



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