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In Anti-Corruption

Ukraine: New draft law proposes foreign direct investments screening regime

by and 6 Mins Read

On 22 September 2025, draft Law No. 14062 proposing the introduction of a foreign direct investment (FDI) screening regime was registered with the Ukrainian Parliament.
The draft law aligns with the European Union’s FDI Regulation 2019/452 and aims to safeguard national security by establishing a formal review process for investments in critical sectors such as infrastructure, strategic minerals, and defense. It introduces a notification requirement for qualifying transactions, a multi-stage review process, and sanctions for non-compliance, while also integrating with Ukraine’s merger control framework.

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In Cybersecurity, Data and Tech

CEO Fraud in the Age of AI: A Growing Compliance Challenge

by and 4 Mins Read

CEO fraud is evolving with artificial intelligence, shifting from mass phishing to highly targeted attacks that are harder to detect. Deepfake technology and hyper-realistic scenarios demand stronger compliance programs, ISO 37003-based fraud control systems, and proactive protocols to protect organizations against this rising threat.

In Tax

Ukraine: Approval of Defence City regime for arms manufacturers including tax and customs incentives

by 2 Mins Read

Ukraine’s Defence City regime, effective from October 2025, offers tax, customs, and regulatory incentives to defence-related enterprises. Eligible companies must earn most income from defence goods or services. Benefits include exemptions on reinvested profits, real estate, land, and environmental taxes, plus simplified customs and currency rules. However, it excludes R&D credits and broader investor incentives, and cannot be combined with other preferential regimes. Residency is limited to strategically significant entities approved by the Ministry of Defence.

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In ESG

European Union: Commission considering delaying EUDR application for another year

by , and 2 Mins Read

On 23 September 2025, the EU Environment Commissioner proposed delaying the EU Deforestation Regulation (EUDR) by another year due to IT system challenges. Originally set for 30 December 2025, the compliance deadline may be extended to 30 December 2026. The delay aims to reduce uncertainty for authorities and stakeholders and ensure the IT infrastructure can handle operational demands. Further discussions among EU institutions are expected before a formal announcement.

In AML & Financial Services Regulatory

European Union: ESAs see progress in PAI disclosures under SFDR but room for further improvement

by 5 Mins Read

The European Supervisory Authorities report steady improvement in principal adverse impact (PAI) disclosures under the SFDR, especially among larger financial groups. However, disclosures often lack quantifiable actions, and “non-consideration” statements remain generic. The ESAs recommend clearer, shorter, and machine-readable disclosures, more proportional requirements, and less frequent reporting to enhance quality and relevance. Further regulatory guidance may follow to address persistent shortcomings.

In ESG

European Union: Regime for corporate green claims

by , and 4 Mins Read

Until recently, the EU lacked a specific framework governing green claims. A new Directive aiming at “empowering consumers for the green transition” supplements the existing rules on unfair commercial practices to include a new harmonized regime for green claims, applicable from September 2026. Businesses should carefully consider how this new regime will impact their upcoming commercial communications, including voluntary environmental reports and climate targets, to mitigate legal and reputational risks.

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In ESG

Ukraine approves two oil and gas PSA tenders in western territories in furtherance of US-Ukraine Minerals Deal

by , and 3 Mins Read

On 13 August 2025, Ukraine approved tenders for two oil and gas blocks—Mezhyhirska and Svichanska – under its Minerals Deal with the US Bidders must meet financial and work commitments, with production sharing terms favouring investors initially. Each PSA lasts 50 years and includes environmental and compliance obligations. This marks a key step in Ukraine’s post-war reconstruction and energy strategy.

In AML & Financial Services Regulatory

United Kingdom: FCA aims to ease burden on sustainability reporting following review

by 6 Mins Read

The Financial Conduct Authority (FCA) has said following its recent multi-firm review of how its climate disclosure rules have been operating that it will look to “streamline and enhance” its sustainability reporting framework and has pledged to “simplify disclosure requirements”. This is welcome news for the industry and seems to be driven by feedback from the asset management sector that Task Force on Climate-related Financial Disclosures (TCFD) reporting rules are overly granular. There also seems to be a move towards consolidation across UK sustainability reporting frameworks as the FCA will consider the Sustainability Disclosure Requirements (SDR), International Sustainability Standards Board (ISSB) and transition planning going forward.

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