WLN tag: #legalnews
Why is the UAE an attractive investment hub?
The United Arab Emirates’ (UAE) economic growth has been remarkable in recent decades. The country has transformed itself into a global business hub. Recognizing the significance of entrepreneurship and foreign investment, the UAE government has continuously adapted its rules and regulations to foster a business-friendly environment and make the country attractive to foreign investment. Foreign […]
UAE: "Know your Client" Law
The introduction of Federal Decree-Law No. (30) of 2024 (the “Law”), establishing a “Know Your Client” (KYC) Digital Platform, enabling identity verification is an important step forward for the United Arab Emirates (UAE) whereby UAE has committed to tackle financial crimes in the country. Objectives The decree law aims at achieving the following objectives: KYC […]
Austria: Elimination of the broker's commission due to close relationship
The broker’s commission results from §§ 6ff MaklerG. In accordance with the statutory provisions, the commission claim arises with the legal validity of the brokered transaction. Without a legally valid brokerage contract, the broker is not entitled to commission. It should be noted that the brokerage contract is generally not bound by any formal requirement, […]
UAE: National Register for Carbon Credits and its impact on business in the UAE
The UAE’s cabinet recently adopted Cabinet Resolution No. (67) of 2024, which aims to reduce GHG emissions to achieve climate neutrality in 2050 and regulate the registration of carbon credits in the nation. Scope of application: The Cabinet resolution applies to the following: Measuring, reporting, and verification requirements: The resolution provides comprehension methods and forms […]
UAE: How does the UAE enforce minimum Emirati employment targets in the private sector?
The UAE has through the Federal Decree Law No. 9/2024, recently amended the Federal Law Regarding the Regulation of Employment Relationship 2021 to discourage Fictitious Employment that has been taking place in the UAE to fulfil the Emirati Employment Targets. The law aims to effectively implement the Emiratization Policy that the UAE government has introduced […]
Spain: The Head of the Internal Information System under Spain’s Whistleblowing Act and Compliance
The Head of the Internal Information System (hereinafter, ‘HIIS’) plays a crucial role in the context of compliance and the implementation of whistleblowing channels to comply with the Whistleblowing Directive (Directive (EU) 2019/1937), transposed in Spain through the Spanish Whistleblowing Act (Law 2/2023, regulating the protection of persons who report regulatory infringements and the fight […]
UAE: Federal Decree-Law No. (11) of 2024 on the Reduction of Climate Change Effects
Introduction The UAE government in October 2024 passed a climate change law focus on reducing the effects of Climate Change. The objective of the law centres around managing emissions, increasing the adaptability of the economy to the impacts of climate change, supporting innovation in the area and improving regional and international cooperation by aligning local […]
France: Guilty silence and curiosity at half-mast: cancellation of a transfer of shares for fraudulent concealment.
In one of the first judgments handed down in matters of fraud since the reform of contract law, the Court of Cassation reaffirmed that the seller’s silence on information essential to the assignment excuses the buyer’s error, regardless of his experience or curiosity (Court of Cassation, com., September 18, 2024, No. 23-10.183). Background: An acquirer […]