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DIFC employment law – consultation paper published

The Dubai International Financial Centre (“DIFC”) intends to refresh its employment laws. Under proposals set out in a consultation paper published last week, a new employment law would be introduced to replace the DIFC’s existing employment law. Background The central pillar of employment law in the DIFC is DIFC Law…

Legal Update: Foreign ownership restrictions in the UAE

The foreign ownership restrictions that currently apply to UAE limited liability companies are expected to be relaxed in 2018. Background Most companies established “onshore” in the UAE are limited liability companies (or “LLCs”). Under Federal Law No. 2 of 2015 (the “Commercial Companies Law”), an LLC must be at least…

Legal Update – EU Parliament and EU Council adopt amendments to the EuVECA Regulations and the EuSEF Regulations

The EU Parliament and EU Council have recently adopted amendments to the European Venture Capital Funds Regulations 2013 (“EuVECA Regulations”) and the European Social Entrepreneurship Funds Regulations 2013 (“EuSEF Regulations”). Background The EuVECA Regulations and the EuSEF Regulations allow EU fund managers of EuVECAs and EuSEFs to market their funds…

The Alternative Investment Fund Managers Directive – Overview

The Alternative Investment Fund Managers Directive (“AIFMD”) came into force in 2011 and was required to be transposed into national law by EU member countries by 2013. It creates a harmonised and stringent regulatory and supervisory framework in the EU for Alternative Investment Fund Managers, and has far-reaching consequences for…

Surge in UK M&A activity by Japanese companies in 2016, despite Brexit vote

Japanese companies spent $33.5bn on acquiring UK companies in 2016, compared to only $9.5bn in 2015. Contrary to some expectations, there was an increased number and value of such deals, according to Dealogic data published by the Financial Times. Much of the value was made up of a single deal,…

London’s FinTech reputation faces disruption of its own

China’s growth in the FinTech world is “indisputable”, while London loses its top-ten dominance. China has been named as home to four of the five biggest FinTech innovators globally in 2016, while London represents only one company in the top ten. The FinTech 100 list, published in the annual report…