Matthew Shanahan

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Beneficial ownership registers: Regulation Around the World

In this edition of Regulation Around the World we review the position regarding beneficial ownership registers which has come into the spotlight following work by the Financial Action Task Force and the introduction of reforms in a number of jurisdictions. Identifying beneficial owners has always been a difficult task for both regulators and financial institutions … Continue Reading

Dubai’s VARA publishes virtual asset marketing guidelines

On 16 January 2023, the Emirates Securities and Commodities Authority overhauled its investment funds regime by issuing a number of important new regulations. The changes are extensive. We have published a briefing note which sets out the most important changes for foreign fund managers or distributors seeking to distribute foreign funds in the United Arab … Continue Reading

Regulation of crypto-tokens: Spolight on the DFSA’s feedback statement

In April we published a briefing note that reported on the Dubai Financial Services Authority’s (DFSA) consultation paper on the regulation of crypto-tokens (CP143). Despite being only 50 pages CP143 covered a wide range of issues including what a crypto-token is, how they can be marketed and the regulatory requirements applicable to them. The DFSA’s … Continue Reading

Buy now pay later: Regulation Around the World

Buy now pay later (BNPL) is a sort of short-term financing that allows consumers to make purchases and pay for them at a later date. There are a different models for BNPL products. Generally these are categorised into split pay, pay later, long-term financing at 0% annual percentage rate, longer-term financing with subsidized interest or … Continue Reading

The UAE issues a new Cabinet Resolution on the regulation of Virtual Assets

On 12 December 2022, the UAE Government issued Cabinet Resolution No.111 of 2022 on the regulation of Virtual Assets and Service Providers (the VA Resolution, published in issue no.741 of the UAE Federal Gazette dated 15 December 2022) which comes into force on 14 January 2023 (30 days after publication). The main aim of the … Continue Reading

The ADGM enhances its capital markets framework, with a focus on sustainable finance and commodities

The Abu Dhabi Global Market’s (ADGM) Financial Services Regulatory Authority (FSRA) has implemented a series of changes to its capital markets rules and regulations. These follow from the FSRA’s Consultation Paper 1 of 2022 dated 1 March 2022 and have a particular focus on environmental instruments and commodities. We have published a briefing note setting … Continue Reading

The FSRA publishes its principles for virtual asset regulation and supervision

How should we regulate virtual assets? This is a question on the mind of almost every financial services regulator in the world. Many have adopted a very cautious and in some cases a prohibitory approach. However, the Abu Dhabi Global Market’s (ADGM) Financial Services Regulatory Authority (FSRA) has taken a more innovative and pragmatic approach … Continue Reading

Global financial services webinar – Crypto fund and buy-side developments

Tuesday, 7 June, 2022 08:00 – 09:00 BST / 11:00 – 12:00 GST / 15:00 – 16:00 HKT 11:00 – 12:00 EDT / 16:00 – 17:00 BST / 19:00 – 20:00 GST In this webinar, members of our global financial services team will compare notes on their jurisdiction’s approach to crypto funds. The speakers will … Continue Reading