Category: Legal Updates
UAE Implements Comprehensive Consumer Protection Regulation to Safeguard Consumer Rights
Introduction In a significant move towards strengthening consumer rights and promoting fair trade practices, the United Arab Emirates (“UAE”) has introduced a new consumer protection regulation; Executive Regulations No. 66 of 2023 (the “Regulation”). The...
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THE INSURANCE SECTOR: THE APPLICATION OF ANTI-MONEY LAUNDERING MEASURES
The Decision issued on 6 November 2023 (the “Decision”) is embedded as part of the scheme to provide protection measures against anti-money laundering and the financing of terrorism in the state of Kuwait, specifically in...
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Central Bank of Egypt takes a significant step in the fight against money laundering and terrorist financing
The Central Bank of Egypt takes a significant step in the fight against money laundering and terrorist financing with the issuance of new regulatory controls for banks. In line with international standards, these regulations aim...
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SECURITIES AND COMMODITIES AMENDMENT: ZOOM-IN ON ANTI-MONEY LAUNDERING MEASURES
The Securities & Commodities Authority recently issued an amendment to its regulatory Rule Book of Financial Activities and the Status Rectification Mechanisms (the “SCA Rulebook”) on 28 December 2023. The regulatory body diligently oversees the...
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COMESA SLAMS BEIN MEDIA GROUP FOR RESTRICITIVE BUSINESS PRACTICES IN THE MARKET
On the 25th of January 2024, the Common Market for Eastern and Southern Africa (“COMESA”) issued a press release on restrictive business practices in the field of football matches streaming. beIN Media Group LLC (“beIN”),...
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Saudi Authority for Intellectual Property issued new regulations governing the use of the name “Saudi Arabia”
The Board of Directors of the Saudi Authority for Intellectual Property (“Authority”) has recently issued new regulations governing the use of the name “Saudi Arabia” and the names of cities, regions, and public places in...
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Data Protection Overview on OneTrust Data Guidance in Kuwait is now available
Understand the intricacies of Kuwait’s ever changing data protection landscape with our comprehensive guide, “Kuwait-Data Protection Overview.” In collaboration with OneTrust Data Guidance, GLA & Company brings you a detailed and comprehensive exploration of the...
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Egyptian Competition Authority Takes Stand Against Collusion and Monopolistic Practice
In the implementation of its 2021-2025 strategy, the Egyptian Competition Authority (“ECA”) has made an extremely impactful decision, confirming collusion in the petroleum product distribution market. Two companies, owned by a state entity, have been...
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Finance Companies Regulation in the UAE
Introduction The Central Bank of the United Arab Emirates (“CBUAE”) has issued a new regulation to govern finance companies and restricted license finance companies by virtue of Circular No. 3 of 2023 (“Regulation”). The Regulation...
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