Charities and fund-raising in Dubai new regulations
|
|
- Annabelle Richard
- 7 years ago
- Views:
Transcription
1 Charities and fund-raising in Dubai new regulations 1 Briefing note July 2015 Charities and fund-raising in Dubai new regulations When considering undertaking acts of charity and fund-raising in the United Arab Emirates (UAE), it is important that individuals and corporate entities are mindful of the fact that such activities are heavily regulated. On 27 April 2015, a new decree was issued in the Emirate of Dubai (Decree No 9 of 2015) which expands upon existing restrictions and prohibits any collection of donations or advertising of fund-raising campaigns without prior written approval from the Islamic Affairs and Charitable Activities Department (IACAD). With a growing need for corporations to include more public welfare and corporate social responsibility work as part of their business model, this briefing sets out how the new regulations might impact on corporate entities and individuals in Dubai intending to undertake fund-raising activities. Background Charities and fund-raising in the UAE are regulated by the Federal Ministry of Social Affairs (MoSA) and its Emirates counterparts. In Dubai, the competent authority is IACAD. This briefing considers only the position in Dubai; fund-raising laws in other Emirates may differ. The applicable laws in the UAE (as applicable in the Emirate of Dubai) are as follows: Federal Resolution No 8 of 1974 concerning Conditions for Licensing Societies for Public Benefits in Collecting Money (Federal Fund-raising Law) Federal Cabinet Resolution No 1 of 1977 concerning the Regulation of Work and Social Affairs (Federal Social Affairs Law) Federal Law No 2 of 2008 concerning Public Welfare Associations and Organisations (Federal Charity Law) Dubai Law No 2 of 2011 on the Department of Islamic Affairs and Charitable Activities (IACAD Law) Dubai Law No 13 of 2011 on Organising Economic Activities in the Emirate of Dubai (Dubai Economic Activities Law) Dubai Executive Resolution No 26 of 2013 concerning Charities, Quran Memorisation Centres and Islamic Foundations in the Emirate of Dubai (Dubai Charity Law). Key things to know: Corporations and individuals cannot fundraise for donations without prior approval The prohibition includes 'allowing' fund-raising which may impact employers if their employees breach the law The law applies to free zones and international charities abroad Requirements for approval are extensive and licenses are only likely to be approved if in conjunction with a registered charity Penalties are high, including imprisonment and fines. Decree No 9 of 2015 on the Organisation of Fund-raising in the Emirate of Dubai (Dubai Fund-raising Law)
2 2 Charities and fund-raising in Dubai new regulations The Federal Fund-raising Law expressly prohibits any association from raising money from any natural or corporate persons inside or outside the UAE without first obtaining a licence. To obtain such a licence, an association must be registered and the term of each licence shall be three months (no more than two licences shall be granted each year).the IACAD Law further prohibits anyone from collecting donations or permitting third parties to collect donations in the Emirate of Dubai without obtaining prior approval from IACAD and prohibits any person or group of persons from engaging in the activities of any charitable organisation without first obtaining a licence. The Dubai Fund-raising Law provides further clarification of the licensing process for fund-raising activities (including the advertising of fund-raising activities) in Dubai, and sets out exemptions and penalties for breaches of the law, which carry both financial and criminal liabilities. The requirements for licensing applications are lengthy and all fund-raising activities have to be conducted via a licensed charitable organisation, of which there are currently only 19 in Dubai (as listed on the IACAD website). Some frequently asked questions Set out below are our initial responses to some frequently asked questions on charities and fund-raising in the Emirate of Dubai. What is a charity? The definition of a charity under the Dubai Charity Law is 'any sole proprietorship or a group of an organisation entitled to continue for a definite or indefinite period, comprising of natural or legal persons, is concerned with religious or charitable affairs and engages its activity within the Emirate, including religious or charitable foundations and associations established or to be established by law or decree'. As such, a charity can be established by a person, a group or a corporation. The Federal Charity Law provides a more expansive description for 'public welfare associations' which are 'any organised group... for the purpose of achieving social, religious, cultural, scientific, educational, professional, feminist, creative or artistic activity, providing humanitarian services, achieving benevolent aim or achieving its activities without attaining material benefits'. What licences are required to establish a charity? Article 6 of the Dubai Economic Activities Law states that any natural or legal person intending to conduct any economic activity in Dubai (which includes commerce, trade and providing a service) has to obtain a licence from the Department of Economic Development (DED). We understand that, if such an entity wishes to conduct charitable activities, they will be required to obtain an additional licence from IACAD, and if they wish to fundraise for donations they will also have to obtain a fund-raising licence from IACAD. What can a charity do? There are no clear provisions relating to what a charity can do or what will constitute 'charitable activities'. According to the IACAD Law, charitable activities are overseen by IACAD and include: 'religious and charitable activities' List of charities registered in Dubai* Mohamed bin Rashid Charitable Humanitarian Foundation Al Maktoum Foundation Dar Al Ber Society Dubai Charity Association Beit Al Khair Society Al Shifa Charity Establishment DIB Foundation Dubai Foundation for Woman and Children Emaar Foundation Red Crescent (Dubai) Al Barakah Charitable Society Easa Saleh Al Gurg Charity Foundation Mohammad Omar Bin Haider Charity Establishment Noor Dubai Foundation Dubai Care Emirates Airline Foundation Trahim Foundation Majid Al Futtaim Charity Foundation Khalaf Ahmad Al Habtoor Foundation *This list was obtained from y.aspx?menuid=186 as at 10 June 2015.
3 Charities and fund-raising in Dubai new regulations 3 'the collection of donations, in cash and in kind, and dispose of the same for human aid, orphan sponsorship, building mosques and any other type of aid' 'relief campaigns and charitable events' 'programs and projects launched by the charitable organisations either inside or outside the UAE'. What are registered charities? A registered charity is one which is licensed and recorded on the register maintained by IACAD (pursuant to Article 6 (e) of the Dubai Charity Law) or MoSA (pursuant to the Federal Social Affairs Law). Examples of registered charities are set out above. What is a donation? The term 'donation', under the Dubai Fund-raising Law, refers to 'money given by the donator as a voluntary act, for the purpose of assistance and charitable activity, including Zakat and alms'. The Dubai Fund-raising Law does not preclude private and corporate donations (see 'How else can individuals and corporations donate to charity' below), as long as individuals and corporations are not soliciting donations via fund-raising activities without prior approval from IACAD. How does the new rule affect donations to charity? Article 3 of the Dubai Fund-raising Law further clarifies the Federal Fund-raising Law and prohibits fund-raising or allowing fund-raising without written approval from the relevant authorities. The new law therefore does not change the current position on fund-raising for charities, which is further affirmed in Article 7 of the IACAD Law. However, it clarifies and expands the position in certain areas, such as expressly prohibiting the advertisement of fund-raising activities, whether in audio, visual or print media. The Dubai Fund-raising Law does not prohibit individual or corporate donations to charities. It is interesting to note that, while the Federal Fund-raising Law specifically prohibits public welfare associations from fundraising, the Dubai Fund-raising Law merely refers to 'fund-raising' and 'donations collected in whatever way and for whatever purpose', which could be construed more widely to include non-charitable organisations such as schools. Do donations include items or do they only relate to money? While the law only makes reference to donations as a monetary contribution and not items, we understand that IACAD views donations to include both money and non-monetary items as they have value attached to them, such as clothes, toiletries and bedding. Are there exceptions to the prohibition? The Dubai Fund-raising Law clarifies that certain entities are exempt from the law and permitted to collect donations without applying for approval. This includes members of the Federal and Dubai Government and government entities (Article 3(b) of the Dubai Fund-raising Law). Fund-raising which is exempt also includes 'donations launched by the initiatives of His Highness the President of the State, his Deputy, members of the Federal Supreme Council and their Crown Princes and Deputies', as well as 'donations collected by the government entities' and 'any other entity determined by the Director General [of IACAD] in accordance with the public interest requirements'. How do you obtain approval and/or a licence to raise funds for a charity? The application process for fund-raising activities, as we understand, is extensive, and there are no clear provisions governing measures for approval. In addition to a standard form, the applicant must also prepare documents detailing the following: purpose of fund-raising names of person(s) authorised for fund-raising
4 4 Charities and fund-raising in Dubai new regulations location(s) of fund-raising method of fund-raising suggested period of fund-raising the entity to which the donations will be sent specification of the amount to be collected any other data determined by the Department [IACAD]. (Article 6 of the Dubai Fund-raising Law) According to the Federal Fund-raising Law, approval for fund-raising may only be granted to a licensed charity (Article 2 of the Federal Fund-raising Law), although a registered charity may not necessarily have approval to fundraise immediately (Article 1 of the Federal Fund-raising Law). The Federal Charity Law also provides that 'donations may only be collected through associations registered pursuant to the provisions of this law and upon a prior license from the Ministry [of Social Affairs]'. In Dubai, we note that fund-raising licences are likely to be granted only to charities registered with IACAD. What is the timeframe for obtaining a licence? According to Article 5 of the Dubai Fund-raising Law, IACAD has 15 days from the time of submission to issue a decision. Notably, however, if no decision has been issued within that time period, the application is considered to have been rejected. Does this law apply to fund-raising activities for offshore/international charities? The Law applies to any donations raised within Dubai, and therefore by extension it affects donations raised in Dubai for international charities or non-governmental organisations outside of the UAE (Article 2 of the Dubai Fund-raising Law). We also understand that IACAD approval would likely only be granted to or for a licensed charity in Dubai, and it is unclear whether a recognisable international charity may be able to obtain a licence to conduct its activities or to fundraise onshore in the UAE. Does this law apply to corporations or charities licensed in a free zone? Similar to the response above, it is expressly made clear that the Law applies to special development zones and other free zones, including the Dubai International Financial Centre (DIFC) (Article 2 of the Dubai Fund-raising Law). However, nonprofit organisations registered in the DIFC or the International Humanitarian City (IHC), are generally not listed on the official IACAD or MoSA lists as registered charities. The IHC Authority is able to license any humanitarian institution (which undertakes any humanitarian, charitable, environmental or other activity related to rescue work) or any non-profit organisation (NPO Establishment) pursuant to the IHC Law and its general Rules and Regulations (IHC Rules). However, these establishments can only undertake their activities within the free zone itself unless they obtain the necessary licences onshore (Clause of the IHC Rules). On fund-raising activities, there is an express clause requiring approval from both the IHC Authority and from IACAD (Clause 13.2 of the IHC Rules). We understand from the IHC Authority that they will accept applications from international charities wishing to establish a branch in the free zone and that the Authority will act as a liaison between registered entities and government bodies in Dubai - including IACAD- in order to obtain licences. The situation is less clear for non-profit incorporated organisations (NPIOs) in the DIFC. NPIOs are not treated as charities in the conventional sense. However, they appear to be allowed to receive donations pursuant to Article 19 (a) of the NPIO Law. The DIFC laws and regulations otherwise do not refer to the process of obtaining a fund-raising licence or whether one is obtainable through the DIFC. We understand that where DIFC law is silent, onshore laws will apply.
5 Charities and fund-raising in Dubai new regulations 5 Can you raise funds for an unregistered charity in Dubai? We understand that the requisite approval to raise funds is likely only to be granted for licensed charities. As mentioned above, there are currently 19 registered charities in Dubai (listed on the IACAD website). Can an individual or a corporation which is not a registered charity solicit donations from private donors? The various Federal and Dubai laws referred to above expressly prohibit any natural persons or corporations from engaging in the activities of a charitable organisation without first obtaining a licence from the relevant authority. Even a charitable organisation with a licence from the DED must also obtain approval from IACAD. Any individuals or corporations found breaching the provisions of the law would be subject to the penalties set out below. We note that those intending to fundraise by hosting events or selling items would also require approval from IACAD. What are the penalties for breaching this law? Illegal fund-raising invites both criminal and civil sanctions (including imprisonment of up to a year and not less than a month), with a monetary fine (between AED5,000 and AED100,000) (Article 10 of the Dubai Fund-raising Law). In addition, bank accounts holding illegal donation moneys can be frozen, and donations can be seized and disposed of by IACAD (Article 9 of the Dubai Fund-raising Law). Further, violators may be reported to their regulators, such as the DED or the Dubai Legal Affairs Department, and have their licences revoked, or be required to return twice the amount of funds raised, and the place where the funds were raised can be closed for up to one year (Article 13 of the Dubai Fund-raising Law). How else can individuals or corporations donate to charity? Importantly, the Dubai Fund-raising Law does not prohibit the private act of donating to charity. Individuals can donate money and items in their own private capacity to any licensed charity, or international organisations, so long as they do not solicit donations from other individuals. Corporations can also make donations from their own corporate funds, as long as they do not raise funds from amongst their employees (for example by asking for donations by ), or externally (such as soliciting donations from clients). How do these rules compare with fund-raising regulations in other GCC countries? We note that the UAE's laws on charities and fund-raising are similar to regulations in other Gulf Cooperation Council (GCC) countries. In Saudi Arabia, for example, charitable fund-raising, as an independent activity, is governed by the Fund-raising for Charitable Purposes Regulations These regulations require all persons undertaking or intending to undertake charitable fund-raising activities to obtain permission from the Ministry of Social Affairs of Saudi Arabia. The Ministry of Social Affairs is the regulatory authority responsible for overseeing fund-raising activities generally. Further, there are various policies and procedures established to govern the accounts of charitable and welfare institutions in line with anti-money laundering and counter-terrorism financing laws. The Saudi Arabian Monetary Agency issued a circular in 2003 requiring that all deposits into charity bank accounts be identified and verified. A National Commission for Relief and Charity Work Abroad has also been established to regulate the charitable activities of registered charities which are conducted outside of Saudi Arabia, and charitable funds are not permitted to be sent abroad without government approval.
6 6 Charities and fund-raising in Dubai new regulations Key CSR Contacts Robin Abraham Managing Partner Middle East Mohammed Al-Shukairy Partner Mohamed Hamra-Krouha Partner Antony Single Partner E: robin.abraham E: mo.al-shukairy E: mohamed.hamra-krouha E: antony.single Gavin Goodwin General Manager Middle East Anna Rimmington Regional Head of K&I Middle East Shamim Khan Professional Support Lawyer E: gavin.goodwin E: anna.rimmington E: shamim.khan This publication does not necessarily deal with every important topic or cover every aspect of the topics with which it deals. It is not designed to provide legal or other advice. This briefing is based on unofficial English translations provided by third party external providers. There are no official English translations of UAE laws. In the event of a conflict between the English text and the original Arabic text; the UAE courts would treat the Arabic version as definitive. Clifford Chance, Level 15, Burj Daman, Dubai International Financial Centre, P.O. Box 9380, Dubai, United Arab Emirates Clifford Chance 2015 Clifford Chance LLP is a limited liability partnership registered in England and Wales under number OC Registered office: 10 Upper Bank Street, London, E14 5JJ. We use the word 'partner' to refer to a member of Clifford Chance LLP, or an employee or consultant with equivalent standing and qualifications. Licensed by the DFSA. Abu Dhabi Amsterdam Bangkok Barcelona Beijing Brussels Bucharest Casablanca Doha Dubai Düsseldorf Frankfurt Hong Kong Istanbul Jakarta* Kyiv London Luxembourg Madrid Milan Moscow Munich New York Paris Perth Prague Riyadh Rome São Paulo Seoul Shanghai Singapore Sydney Tokyo Warsaw Washington, D.C. *Linda Widyati & Partners in association with Clifford Chance.
Program trading in China will be regulated
Program trading in China will be regulated 1 Briefing note October 2015 Program trading in China will be regulated The significant drop in the value of China's stock market since June 2015 has prompted
More informationUAE Investment Funds Regulation implemented
UAE Investment Funds Regulation implemented beginning of the end for the tolerated practice? 1 Briefing note August 2012 UAE Investment Funds Regulation implemented The UAE Securities and Commodities Authority
More informationSFC proposes amendments to regulation of automated trading services guidelines
SFC proposes amendments to regulation of automated trading services guidelines 1 Briefing note December 2015 SFC proposes amendments to regulation of automated trading services guidelines On 20 November
More informationAccessing DC savings: The new rules. www.allenovery.com
Accessing DC savings: The new rules www.allenovery.com 2 2 DCHQ Freedom and choice series: briefing 2 In addition to existing options such as cashing out a small lump sum, buying an annuity or going into
More informationThe introduction of a new filing and registration regime for foreign debt management in China
The introduction of a new filing and registration regime for foreign debt management in China 1 Briefing note November 2015 The introduction of a new filing and registration regime for foreign debt management
More informationAngolan foreign exchange regulations
Client Briefing May 2012 Angolan foreign exchange regulations The Angolan economy is heavily dependent on income generated by its oil and gas sector and, whilst the country is rebuilding its economy after
More informationA Comparison of Takeovers of Hong Kong, Mainland China and Singapore listed Chinese Companies
October 2011 A Comparison of Takeovers of Hong Kong, Mainland China and Singapore Place of incorporation A incorporated in a jurisdiction outside the PRC which is accepted for listing on the Hong Kong
More informationFinal text for the Amended EU Regulation on Insolvency proceedings
Final text for the Amended EU Regulation on Insolvency proceedings 1 Briefing note December 2014 Final text for the Amended EU Regulation on Insolvency proceedings The process to update and extend the
More informationOur Financial Services Regulatory practice
Our Financial Services Regulatory practice 2015 2 Our Financial Services Regulatory practice 2015 Allen & Overy LLP 2015 3 How we can assist you Ranked Tier 1 for Financial Services Regulatory: Non-contentious
More informationDC pensions: All change from April 2015
DC pensions: All change from April 2015 www.allenovery.com 2 DCHQ Freedom and choice series: briefing 1 The most fundamental reform to the way people access their pension rights in almost a century. That
More informationAnalysis - the worldwide reach of FATCA
January 2012 Analysis - the worldwide reach of FATCA This article was first published in the Tax Journal in July 2011 SPEED READ Recent US legislation effectively makes non-us banks and non US financial
More informationContracts for Difference: an EMR CfD Primer
Contracts for Difference: an EMR CfD Primer 1 Briefing note October 2015 Contracts for Difference: an EMR CfD Primer This primer briefing is the first in a series of briefings describing the principal
More informationClifford Chance LLP. Annual Review 2014
Annual Review Annual Review CLIFFORD CHANCE ANNUAL REVIEW AT A GLANCE Introduction from Highlights /14 Our ambition is to provide our clients with the best service and advice wherever and whenever they
More informationFlexible access and the annual allowance: How does it work? www.allenovery.com
Flexible access and the annual allowance: How does it work? www.allenovery.com 2 DCHQ Freedom and choice series: briefing 3 Flexible access and the annual allowance how does it work? Certain methods of
More informationVAT recovery and pension schemes: Where are we now?
VAT recovery and pension schemes: Where are we now? Speed read HMRC s policy on reclaiming VAT on investment management and other costs remains under review in the light of two recent decisions from the
More informationThe corporate insolvency process in Hong Kong key changes in 2016
The corporate insolvency process in Hong Kong key changes in 2016 1 Client Briefing June 2016 The corporate insolvency process in Hong Kong key changes in 2016 The Companies (Winding Up and Miscellaneous
More informationConnecting people at A&O and beyond. www.allenovery.com/alumni
Connecting people at A&O and beyond www.allenovery.com/alumni 2 Connecting People at A&O and beyond Our alumni explain why the A&O Alumni Network is useful to them It is good that the firm still likes
More informationEquity Capital Markets Team Germany
Equity Capital Markets Team Germany 2 Equity Capital Markets Team Germany Our strength is our experience with complex assignments Capital markets are difficult to predict and present serious challenges
More informationCorporate funding monitor 2015
Corporate funding monitor 2015 The changing face of finance February 2015 2 Corporate funding monitor 2015 A global reaction to a global crisis Global corporate funding by source (USDtn) USD4tn USD3tn
More informationESTABLISHING A BUSINESS PRESENCE IN DUBAI
ESTABLISHING A BUSINESS PRESENCE IN DUBAI This guide, written by K&L Gates lawyers, includes a high level overview of the legal and regulatory environment for establishing a business presence in Dubai,
More informationNew amendments to the Spanish Insolvency Law
3 rd June 2015 New amendments to the Spanish Insolvency Law Ley 9/2015 Contents Summary 2 Refinancing agreements 2 The communication foreseen under Article 5bis of the insolvency Law 3 Ranking of creditors
More informationFinancial services regulation in Australia
Financial services regulation in Australia FEBRUARY What you need to know Financial services regulation in Australia February 2016 1 What you need to know Key points Do you do business in Australia or
More informationBriefing Note UAE Corporate Governance Regime
February 2010 Briefing Note UAE Corporate Governance Regime At a Glance > Corporate governance is the system by which companies are directed and controlled. It deals largely with the relationship between
More informationOur global Product Liability group
Our global Product Liability group 2014 www.allenovery.com 2 Sources say: Extremely impressive; the response times are incredible and the advice is well thought out. Chambers 2014 They are on top of the
More informationWorking and ordinarily working in the UK
Financial institutions Energy Infrastructure, mining and commodities Transport Technology and innovation Life sciences and healthcare Working and ordinarily working in the UK Briefing January 2015 Introduction
More informationInterest rate benchmark reform: current issues for the loan market
1 Interest rate benchmark reform: current issues for the loan market Briefing note June 2013 Interest rate benchmark reform: current issues for the loan market Almost nine months on from the publication
More informationLCR and Securitisation 2B or not 2B
LCR and Securitisation 2B or not 2B 1 Briefing note November 2014 LCR and Securitisation 2B or not 2B The European Commission has now published the final draft of the Commission Delegated Regulation with
More information2013 Update: Healthcare Regulation in the United Arab Emirates
2013 Update: Healthcare Regulation in the United Arab Emirates The healthcare industry continues to develop in the UAE with new world class projects and more elaborated policies and regulations. Introduction
More informationISLAMIC AFFAIRS & CHARTABLE ACTIVITIES DEPARTMENT GOVERNMENT OF DUBAI
ISLAMIC AFFAIRS & CHARTABLE ACTIVITIES DEPARTMENT GOVERNMENT OF DUBAI Rules for Licenses of Religious and Charitable Societies and Organization Of their Activities in the Emirate of Dubai IN THE NAME OF
More informationU.S. Tax and the Issuance of Debt Securities after the HIRE Act
October 2011 U.S. Tax and the Issuance of Debt Securities after the HIRE Act An update SPEED READ This Bulletin provides participants in debt capital markets transactions with updated guidance on U.S.
More informationCorporate funding monitor: The changing face of fi nance. January 2014. www.allenovery.com
Corporate funding monitor: The changing face of fi nance January 214 www.allenovery.com 2 The Allen & Overy Corporate Funding Monitor looks at loan, bond and equity issues to non-financial corporates over
More informationJackson reforms to civil litigation
June 2013 Jackson reforms to civil litigation What do commercial parties really need to know? SPEED READ The bulk of the Jackson reforms to costs in English civil litigation were implemented on 1 April
More informationHot topics in insolvency and restructuring. Wendy Braithwaite, Counsel, Banking Restructuring. 13 March 2014
Hot topics in insolvency and restructuring Wendy Braithwaite, Counsel, Banking Restructuring 13 March 2014 Allen & Overy 2014 2014 Seminar schedule Thursday 13 March 12.30pm-1.30pm Bishops Square Wednesday
More informationPassive infrastructure sharing
Passive infrastructure sharing 2 Why sharing? Passive infrastructure sharing started with mobile phone towers. Mobile network operators allowed each other to hang antennas on their mast sites, resulting
More informationNew Nuclear Power Plants. Procurement Issues
New Nuclear Power Plants Procurement Issues Introduction Role and experience of CC Construction Group 2 Overview Risk allocation norms in thermal power sector well established But only partly applicable
More informationChina Publishes Draft Rules on Protection of Information Network Dissemination Rights
China Publishes Draft Rules on Protection of Information Network Dissemination Rights 1 China Publishes Draft Rules on Protection of Information Network Dissemination Rights On 22 April, 2012, the Supreme
More informationCapital Requirements Directive IV Framework Liquidity Requirements. Allen & Overy Client Briefing Paper 15 January 2014. www.allenovery.
Capital Requirements Directive IV Framework Liquidity Requirements Allen & Overy Client Briefing Paper 15 January 2014 2 CRD IV Framework: Liquidity Requirements January 2014 CRD IV Framework: Liquidity
More informationUK Employee Incentives and Benefits
UK Employee Incentives and Benefits About our UK Employee Incentives and Benefits Team The UK Employee Incentives and Benefits team at Bird & Bird design, draft and implement employee share plans and other
More informationShip Finance Practice. Covering ship finance from every perspective. www.allenovery.com
Ship Finance Practice Covering ship finance from every perspective 2 Ship Finance Practice Why Allen & Overy? A pre-eminent ship finance practice Our international ship finance practice holds a premier
More informationCuba Sanctions Update: Removal of Cuba from Terrorism List Will Result in Modest Easing of Trade Sanctions
Cuba Sanctions Update: Removal of Cuba from Terrorism List Will Result in Modest Easing of Trade Sanctions A legal analysis prepared at the request of the Cuba Study Group 9 April 2015 By Stephen F. Propst,
More informationEmployee monitoring in France. January 2010. Contents. Legal Framework 1
Employee monitoring in France January 2010 Contents Legal Framework 1 Principal situations where an individual's privacy is restricted in the workplace 1 Potential disciplinary sanctions applied to employees
More informationThe Telephone Consumer Protection Act: Compliance Developments and What to Expect in 2015
The Telephone Consumer Protection Act: Compliance Developments and What to Expect in 2015 November 2014 Mark W. Brennan, Partner Overview Overview of the TCPA Recent Developments Issues to Watch What You
More informationDerivatives and Structured Finance Practice
Derivatives and Structured Finance Practice Global Key Contacts 2015 www.allenovery.com Derivatives and Structured Finance Practice 2015 Our Global Presence AFRICA ASIA PACIFIC EUROPE Casablanca Johannesburg
More informationLiberating the Power of Service The right of establishment The case of lawyers
Liberating the Power of Service The right of establishment The case of lawyers Second Bruges European Business Conference College of Europe Jacques Derenne, Partner, Hogan Lovells, Brussels Associate Professor,
More informationLiberating the Power of Service The right of establishment The case of lawyers. Second Bruges European Business Conference College of Europe
Liberating the Power of Service The right of establishment The case of lawyers Second Bruges European Business Conference College of Europe Jacques Derenne, Partner, Hogan Lovells, Brussels Associate Professor,
More informationIntroduction to Sukuk
September 2006 Introduction Islamic banking transactions are based on Islamic principles and jurisprudence (Shari'a) which are derived from a number of sources, including the primary source of the Qu'ran.
More informationBrand Management Services
Brand Management Services About Bird & Bird Since 1898 Bird & Bird has led the way in protecting the ideas that have made some of the world s greatest brands successful. It s the firm s excellence in client
More informationCapital Requirements Directive IV Framework Leverage Ratio. Allen & Overy Client Briefing Paper 16 January 2014. www.allenovery.
Capital Requirements Directive IV Framework Leverage Ratio Allen & Overy Client Briefing Paper 16 January 2014 2 CRD IV Framework: Leverage Ratio January 2014 CRD IV Framework: Leverage Ratio This briefing
More informationUnited Arab Emirates
The United Arab Emirates is a federal state composed of seven emirates including Abu Dhabi and Dubai. The federation came into effect in 1971, but each emirate maintains a varying degree of control over
More informationLatham & Watkins Litigation Antitrust & Competition
Number 1040 9 June 2010 Client Alert Latham & Watkins Litigation Antitrust & Competition New Antitrust Rules for the Motor Vehicle Sector Challenges Ahead for Car Manufacturers, Dealers, Spare Parts Suppliers
More information01/ 02/ 03/ 04/ 05/ Beyond borders Deloitte Discovery April 23 rd 2015 Cyprus 1 Going beyond borders to move our clients ahead Deloitte Discovery Services - Deloitte Legal 2 The Deloitte
More informationLoan Trading under LMA Documentation A Guide for Traders and In-house Counsel
Loan Trading under LMA Documentation A Guide for Traders and In-house Counsel 2 Further information If you would like further information on any aspect of this note, please contact a person mentioned below
More informationInsurance claims and losses in Spain. Procedural aspects of the Spanish legal system
Insurance claims and losses in Spain. Procedural aspects of the Spanish legal system Further information If you would like further information, please contact a person mentioned below or the person with
More informationPeter Montanaro, Head, Delegated Authorities
market bulletin Ref: Y4535 Title Purpose Type From Master Policies & Group Schemes To provide updated guidance on worldwide master policies and group schemes written at Lloyd s and to notify the market
More informationSchemes and Company Voluntary Arrangements. Mark Sterling Partner, Banking Ian Field Partner, Banking
Schemes and Company Voluntary Arrangements Mark Sterling Partner, Banking Ian Field Partner, Banking 18 June 2010 påüéãéë=~åç=`çãé~åó=sçäìåí~êó=^êê~åöéãéåíë ENOKPMéã=Ó NKPMéãF Mark Sterling Ian Field
More informationClient Alert. Online Gambling: Is Now the Time to Enter the German Market? The current legal framework in 15 out of the 16 German States
Number 1299 1 March 2012 Client Alert Latham & Watkins Corporate Department Online Gambling: Is Now the Time to Enter the German Market? Providers may consider taking the opportunity in Schleswig- Holstein
More informationIndia: Essential tips for successful trading
India: Essential tips for successful trading India: Essential tips for successful trading As the world s largest democracy and second most populous country, India has an enormous domestic consumption base
More informationHow CPG manufacturers and retailers can collaborate to create offers that will make a difference. Implications of the Winning with Digital Study
Implications of the Winning with Digital Study How CPG manufacturers and retailers can collaborate to create offers that will make a difference 1 To shed light on retailers shift from traditional to digital
More informationLatham & Watkins Finance Department. Amended Bankruptcy Rule 2019: Clarity and Confusion?
Number 1261 December 1, 2011 Client Alert Latham & Watkins Finance Department... a failure of an entity, group or committee to comply with Amended Rule 2019 could cause serious repercussions... the court
More informationCyber security: A major issue for Australian business
Cyber Security: A major issue for Australian business: February 2016 1 Cyber security: A major issue for Australian business Contents Introduction and background Is your industry particularly vulnerable
More informationEstablishing a business
Establishing a business in Singapore legal guide Published November 2012 HERBERT SMITH FREEHILLS Establishing a business in Singapore 03 Introduction This guide provides an overview of common issues encountered
More informationDHL Global Energy Conference 2015 Outsourcing logistics Enhancing innovation or increasing risk?
DHL Global Energy Conference 2015 Outsourcing logistics Enhancing innovation or increasing risk? Introduction to panel discussion Houston, October 13 th What has happened since the last DHL conference?
More informationJUDGMENT ON THE SPANISH TAX LEASE SYSTEM
JUDGMENT ON THE SPANISH TAX LEASE SYSTEM CASE T-719/13 PYMAR / COMMISSION Contents 1. Background 2. Judgment of the GCEU of 17 December 2015 in Case T- 719/13, PYMAR / Commission 3. Effects of the Judgment
More informationEuropean Commission releases final report on business insurance sector inquiry
Insurance Update. European Commission releases final report on business insurance sector inquiry The Commission has published the final report of its competition inquiry into the business insurance sector.
More informationMerger Control Issues and Private Equity Transactions
Merger Control Issues and Private Equity Transactions Further information If you would like further information on any aspect of Merger Control and Private Equity Transactions please contact a person mentioned
More informationTax Guide 2014/15 South Africa
Tax Guide 2014/15 South Africa Individuals and Trusts Tax Rates 1 March 2014 to 28 February 2015 Individual Taxpayers and Special Trusts Taxable Income R0 174 550 Rate of Tax 18% of taxable income R174
More informationIndian E-Retail Congress 2013
The Retail Track The Omni Channel Retail Supply Chain Indian E-Retail Congress 2013 Subhendu Roy Principal Consumer Industries and Retail Practice 15 February, 2013 Disclaimer This document is exclusively
More informationChina's new national security law creates more insecurity for foreign businesses
China's new national security law creates more insecurity for foreign businesses Contents Overview 1 JULY Broad definition of national security 1 Expanded national security review regime 1 NSR in relation
More informationThe Data Center of the Future: Creating New Jobs in Europe
The Data Center of the Future: Creating New Jobs in Europe New data centers will create hundreds of thousands of new jobs for Europe by 2020. But there is work to be done to capture this opportunity fully.
More informationSelection and Use of Patient-Reported Outcome Measures The Role of Outside Consultants Janice Hogan, Partner, Hogan Lovells LLP
Selection and Use of Patient-Reported Outcome Measures The Role of Outside Consultants Janice Hogan, Partner, Hogan Lovells LLP Tuesday, November 27, 2012 Key Topics for Consultants Selection of Instruments
More informationFull Foreign Ownership of E-commerce Businesses Permitted in the Shanghai FTZ: But is It a Breakthrough?
Full Foreign Ownership of E-commerce Businesses Permitted in the Shanghai FTZ: But is It a Breakthrough? Contents Backgroud E-commerce Business Shanghai FTZ's Continuing Liberalisation in Telecommunications
More informationDenied Boarding Eligibility
Option 1 Denied Boarding Compensation voucher may be used for a single Emirates operated two sector return journey between Dubai and the adjoining list of cities. (OR) Between Australia & New Zealand or
More informationUnited Arab Emirates Takeover Guide
United Arab Emirates Takeover Guide Contact Sameer Huda and Ahmad Sergieh Hadef & Partners s.huda@hadefpartners.com a.sergieh@hadefpartners.com Contents Page THE REGULATORY FRAMEWORK FOR TAKEOVERS 1 CONTROLS
More informationFederal Law no. 6. Issued on 7/11/2010. Corresponding to 28 Shawwal 1431 H.
Federal Law no. 6 Issued on 7/11/2010 Corresponding to 28 Shawwal 1431 H. ON CREDIT INFORMATION We, Khalifa Bin Zayed Al Nahyan, President of the United Arab Emirates, Pursuant to the perusal of the Constitution
More informationClient Alert. New Treasury Regulations Put Issuers at Increased Risk for Cancellation of Indebtedness Income in Debt-for-Debt Exchanges.
Number 1399 September 20, 2012 Client Alert Latham & Watkins Tax Department New Treasury Regulations Put Issuers at Increased Risk for Cancellation of Indebtedness Income in Debt-for-Debt Exchanges In
More informationThe impact of social media on your business
Belgium The impact of social media on your business Allen & Overy 2012 Contents The increasing importance of social media 3 Social media and employment law 4 1_Recruitment 4 2_Performance of the employment
More informationMemorandum. General Overview Employment Law/ United Arab Emirates
Memorandum General Overview Employment Law/ United Arab Emirates 1. General 1. Brief Introduction Employment relationships in the private sector in the UAE are subject to UAE Federal Law No 8 of 1980 on
More informationFraudulent Insurance Claims A Mucky Present and a Murky Future
Fraudulent Insurance Claims A Mucky Present and a Murky Future Dan Screene, Senior Associate Insurance Litigation Practice Group London 12 February 2013 The fraud epidemic Economic landscape Losses to
More information.ae Domain Name Policy
.ae Domain Name Policy AEDA-POL-007 Version 1.1 Issue Date 22/09/2010 The.ae Domain Administration.aeDA PO Box 116688 Dubai, United Arab Emirates (UAE) www.aeda.ae Copyright 2008-2010 Telecommunications
More informationCloud Computing: A Primer on Legal Issues, Including Privacy and Data Security Concerns. Privacy and Information Management Practice / Washington, DC
Cloud Computing: A Primer on Legal Issues, Including Privacy and Data Security Concerns Privacy and Information Management Practice / Washington, DC Disclaimer THIS PRESENTATION IS TO ASSIST IN A GENERAL
More informationCompliance guide for companies listed on the Hong Kong Stock Exchange
Compliance guide for companies listed on the Hong Kong Stock Exchange 2009 Compliance Guide Compliance Guide Corporate governance provides the institutional and policy framework for companies. The integrity
More informationFreight Forwarders: Thinking Outside the Box
Freight Forwarders: Thinking Outside the Box Given its size, profitability, and expected growth rates, freight forwarding is among the most attractive segments in the North American transportation services
More informationClient Alert. Accountants and Auditors as SEC Whistleblowers. Categories of Persons Eligible or Not Eligible for SEC Whistleblower Awards
Number 1462 February 5, 2013 Client Alert Latham & Watkins Litigation Department Accountants and Auditors as SEC Whistleblowers Nearly every public company and financial industry firm subject to the enforcement
More informationHow To Allow Sports Wagering In New Jersey
November 2014 This article originally appeared in World Sports Law Report Volume 12 Issue 11, November 2014. Betting: New Jersey s Attempts to Allow Sports Betting By Linda J. Shorey, Anthony R. Holtzman
More informationThe CMS REMIT healthcheck
CMS_LawTax_CMYK_28-100.eps The CMS REMIT healthcheck Market abuse, reporting and registration framework for the EU energy market February 2013 Background The EU Regulation on Energy Market Integrity and
More informationLuxembourg Doing deals in the Grand Duchy, an English lawyer's perspective
Luxembourg Doing deals in the Grand Duchy, an English lawyer's perspective Tom Whelan (Partner, Hogan Lovells International LLP) Erin Anderson (Senior Associate, Hogan Lovells International LLP), Camille
More informationClient Alert. Proposed Revisions to Regulations for Eagle Take Permits Hold Promise of Greater Take Authorization for Renewable Energy Developers
Number 1361 July 9, 2012 Client Alert Latham & Watkins Environmental, Land & Resources Department Proposed Revisions to Regulations for Eagle Take Permits Hold Promise of Greater Take Authorization for
More informationOur insurance disputes practice. www.allenovery.com
Our insurance disputes practice 2012 2 Our insurance disputes practice About our insurance disputes practice Insurance coverage expertise Unlike almost every other top commercial law firm, our insurance
More informationat the pace of business Leadership development In-house programs available! The Leadership Express Series Ottawa, ON
Africa Cape Town Johannesburg Pretoria Asia Bangkok Beijing Ho Chi Minh City Hong Kong Jakarta Kuala Lumpur Mumbai New Delhi Seoul Shanghai Shenzhen Singapore Tokyo Europe Amsterdam Athens Barcelona Berlin
More informationHaiti - A perspective on donations from the Gulf countries
Haiti - A perspective on donations from the Gulf countries Hanane Cherkaoui, Research Associate, Humanitarian Research Group, INSEAD Social Innovation Centre and Luk N. Van Wassenhove, Academic Director,
More informationDenied Boarding Eligibility
Option 1 Denied Boarding Compensation voucher may be used for a single Emirates operated two sector return journey between Dubai and the adjoining list of cities. (OR) Between Australia & New Zealand or
More informationIP & IT Bytes. Copyright: website-blocking order against internet service providers
June 2015 IP & IT Bytes First published in the June 2015 issue of PLC Magazine and reproduced with the kind permission of the publishers. Subscription enquiries 020 7202 1200. Copyright: website-blocking
More informationCapital Requirements Directive IV Framework Operational Risk. Allen & Overy Client Briefing Paper 13 January 2014. www.allenovery.
Capital Requirements Directive IV Framework Operational Risk Allen & Overy Client Briefing Paper 13 January 2014 www.allenovery.com 2 CRD IV Framework: Operational Risk January 2014 CRD IV Framework: Operational
More informationWhat is Cloud Computing? Up to speed July 2011. www.allenovery.com
What is Cloud Computing? Up to speed July 2011 2 Up to speed What is Cloud Computing? July 2011 What is Cloud Computing? Confusion abounds when cloud computing is discussed, and the situation is getting
More informationLaunch of Mutual Recognition of Funds Between Mainland China and Hong Kong
June 2015 Practice Group: Investment Management, Hedge Funds and Alternative Investments Launch of Mutual Recognition of Funds Between Mainland China and Hong Kong By Choo Lye Tan On 22 May 2015, the Securities
More informationNorton Rose Group expands across Canada, Latin America and Kazakhstan. Creating one of the world s leading energy and mining practices
Norton Rose Group expands across Canada, Latin America and Kazakhstan Creating one of the world s leading energy and mining practices Norton Rose Group expands across Canada, Latin America and Kazakhstan
More informationHazardous substances. Our capabilities in Paris
Hazardous substances Our capabilities in Paris 2013 Hogan Lovells - Hazardous substances: Our capabilities in Paris i Contents Our expertise in relation to hazardous substances 1 Sophisticated advice
More informationEnterprise Ireland - Accelerating the growth of Irish companies in world markets
Unlocking the Middle East Enterprise Ireland - Accelerating the growth of Irish companies in world markets Thursday 23 rd, April, 2009. Enterprise Ireland is the Irish government s lead agency in the development
More informationNew UAE Commercial Companies Law: Legal reforms to strengthen the legal and regulatory landscape of doing business in the UAE
from Legal Middle East New UAE Commercial Companies Law: Legal reforms to strengthen the legal and regulatory landscape of doing business in the UAE May 2015 In brief After years of speculation regarding
More informationLocal expertise & multinational deals & fresh ingredients & brand innovations & added value in regulation & from raw materials to consumer products &
& Food and Beverage Local expertise & multinational deals & fresh ingredients & brand innovations & added value in regulation & from raw materials to consumer products & a good nose for business Our International
More information