A brief outline of the Conduct of Financial Institutions Bill, its effect on the financial industry and implications for consumers. It is fair to say that there has been a steady increase in financial sector conduct regulation over the last decade, not only in South Africa but indeed globally. Some…
The Hungarian Parliament has adopted the sectorial legislative amendments relating to the European Union’s data protection reform (Act…
On 4 May 2019, further amendments to the rules on processing personal data came into force. They concern…
On 10 April 2019, the Monetary Authority of Singapore (MAS) issued a consultation paper on the Proposed Payment Services Regulations (Consultation Paper).1 You may read our previous alerts on the features of the version of the Payment Services Bill released for public consultation, and the subsequent updating notes describing the…
On March 15, 2019, the National People’s Congress (NPC) of the People’s Republic of China (PRC) passed the Foreign…
On 21 March 2019, the US Internal Revenue Service (IRS) issued final regulations (the Final Regulations) relating to…
Despite geopolitical shifts, uncertainty and various factors that seem to affect numerous sectors, the global luxury and fashion industry has tripled in the last 20 years to approximately $300 billion and continues to grow rapidly. But with that broadening and diversification comes a whole new set of business challenges to…
The register of ultimate beneficial owners in the Netherlands will be introduced in January 2020. A legislative proposal…
South Africa has a sophisticated banking system that aims to ensure economic stability, consumer protection and institutional safety.…
The AML Resolution introduces a number of significant enhancements to the UAE AML regime including: (a) the introduction of the “risk-based approach” to AML regulation, whereby FIs and DNFBPs are required to assess a client’s money laundering risk (“ML risk”), assign an ML risk level to each client, and carry…