Louis Vuitton, Givenchy, Gucci, Burberry, Prada, Ralph Lauren, and many more brands are starting to appear in the digital world, be it in a videogame or in a metaverse. Players and avatars can now wear their favourite brands and visit their usual shops to buy virtual products akin to their physical counterparts. This shift to a new market brings several challenges regarding trademark protection....

Key updates to the Abu Dhabi Global Market (ADGM) Employment Regulations 2024, including changes to hiring practices, employee entitlements, probation periods, remote work, wage payments, maternity benefits, and termination procedures. The new regulations introduce penalties for non-compliance and outline employer responsibilities within ADGM

In Switzerland, the wealth tax (impôt sur la fortune) has long been a staple of the tax system, affecting individuals with significant assets. While it serves as a mechanism for redistributing wealth, it can also pose challenges for individuals trying to manage and protect their financial assets efficiently...

The Abu Dhabi Global Market (“ADGM”) has recently proposed amendments to its Employment Regulations 2019 (the “Proposed Amendments”), to update its legal framework in line with international best practices...

Transfer pricing, the practice of determining prices for transactions between associated enterprises within multinational groups, plays a crucial role in international tax law. In Switzerland, transfer pricing regulations are governed by the arm's length principle, which requires that intra-group transactions mirror those between independent entities...

The DIFC Prescribed Company Regulation 2024 eases substance requirements and broadens the scope for qualifying applicants establishing a Prescribed Company in the DIFC. The new regulations outline updated criteria, qualifying purposes, and costs for incorporation and continuation.

The right of access is a fundamental aspect of data protection, enabling individuals to assert their claims effectively. Without this crucial right, individuals would be unaware of the data being processed about them, making it impossible to assert their rights if necessary. However, the right of access does have its limitations. A recent ruling by the Court of Justice of the Canton of Geneva sheds light on the intricacies and potential misuse of this right...

The DIFC Digital Assets Law, enacted on March 1, 2024, provides a comprehensive regulatory framework for digital assets within the Dubai International Financial Centre. This law defines digital assets, clarifies their legal nature, and outlines guidelines for their control, transfer, and management.

FINMA published a circular to clarify and strengthen supervisory practices related to the FinSA and FinSO. The circular is addressed to financial service providers supervised by FINMA or a supervisory organisation. It creates transparency regarding FINMA’s practice relating to selected aspects of rules of conduct under FinSA/FinSO.

DIFC's Employment Law amendments in March 2024 enhance end-of-service benefits for GCC Nationals and outline rules for sanctioned DIFC employees and employers.

In the dynamic world of startup financing, convertible loans emerge as a key solution, offering fast capital by converting debt into equity under specific conditions. Ideal for early-stage startups, these loans blend flexibility with potential growth benefits, allowing businesses to navigate funding with ease. This guide highlights the essential features, advantages, and challenges of convertible loans, simplifying complex financial strategies for startups and investors alike in Switzerland.

The Dubai International Financial Centre (DIFC) has introduced legislation within its New Digital Assets Law and New Law of Security, aimed at modernizing regulatory frameworks for digital assets and financial transactions. These developments promise enhanced clarity, security, and innovation.

Delve into the critical nuances of the UAE Tax Law Cabinet Decision No. 81 of 2023 and the Qualifying Free Zone Person (QFZP) with our latest update. Published on 18 July 2023, the Ministry of Finance's Cabinet Decision introduces pivotal regulations for 'Qualifying Investment Funds' iaboutUAE Tax Law. This article meticulously dissects the additional conditions imposed by the Cabinet, beyond those in Article 10 of the UAE Tax Law, for Investment Funds to gain Corporate Tax exemption as Qualifying Investment Funds. Learn about the specific criteria for Investment Managers and Real Estate Investments Trusts to be considered Exempt Persons from Corporate Tax. Understand the complex conditions under which an Investment Fund can be exempted from Corporate Tax, including the nuanced definitions of Investment Business activities, ownership interest thresholds, professional requirements for Investment Managers, and management stipulations.

On 30 March 2023, the Financial Services Regulatory Authority (the “FSRA”) of Abu Dhabi Global Market (the “ADGM”) published Consultation Paper No.2 of 2023 on its proposed amendments to the Conduct of Business Rulebook, the General Rulebook and the Glossary Rulebook (the “Old Rules”), concerning client classification, client assets and conduct requirements that eventually came into effect on 15 August 2023 (“Enhanced Rules”).

According to article 398 of the Swiss Code of Obligation of 30 mars 1911 (“CO”), the mandatee generally has the same duty of care as the employee in an employment relationship (paragraph 1). The mandatee is liable to the mandator for the diligent and faithful performance of the business entrusted to him (paragraph 2). He must conduct such business in person unless authorised or compelled by circumstance to delegate it to a third party or where such delegation is deemed admissible by custom (paragraph 3).

Under the Banking Act (“BA”; SR 952.0), persons who do not hold a banking license may not accept deposits from the public in a professional purpose (cf. art. 1 par. 2 BA) or advertise the acceptance of such deposits (art. 49 par. 1 let. c BA).

In 2017, the United Arab Emirates (UAE) designated H.E. Omar Bin Sultan Al Olama as the Minister of State for Artificial Intelligence. Subsequently, in April 2019, the UAE Cabinet sanctioned the National Strategy for Artificial Intelligence 2031 to position the UAE as a global leader in artificial intelligence.

In Switzerland, a universally accepted description of artificial intelligence remains elusive, as existing definitions often revolve around human intelligence rather than machine-based intelligence. These formulations pose challenges by necessitating the definition of "intelligence," particularly the human variety.

In the last couple of months, the UAE Ministry of Finance released Cabinet Decision No. 55 of 2023 on ‘Determining Qualifying Income for the Qualifying Free Zone Person for the Purposes of the UAE Tax Law and Ministerial Decision No. 139 of 2023 on ‘Qualifying Activities and Excluded Activities for the Purposes of the UAE Tax Law'.

The present newsletter aims at analyzing, with a focus on Swiss regulations, the conditions for protection by the two intellectual property protection that could enter into account for software protection, namely copyright and patent. We will also give a brief overview of the different software licensing systems.

On 11 April 2023, the Registration Authority (“RA”) of the Abu Dhabi Global Market published Consultation Paper No. 3 of 2023 titled “Proposal for a Legislative Framework for Distributed Ledger Technology Foundations”. With this Consultation Paper, the RA aims to address market players' growing interest in using ADGM foundations to facilitate distributed ledger technology projects and issuance of non-regulated utility tokens and provide a comprehensive explanation of the Distributed Ledger Technology Foundations Regulations 2023 proposed to that effect.

Switzerland is at the forefront of financial innovation in FinTech and blockchain. Swiss laws do not specifically regulate cryptoassets as a distinct asset class, but instead apply existing regulatory rules to them for their issuance, trading and holding. The ICO Guidelines of the Swiss financial regulator ("FINMA") provide detailed guidance on the regulatory framework for initial coin offerings ("ICOs") and security token offerings ("STOs") under Swiss law, including a checklist for negative clearance applications. FINMA reviews ICOs and STOs for compliance with anti-money laundering ("AML") regulations, investor rights and technical standards.

The metaverse market encounters a knowledgeable success among investors, because of the new commercial opportunities it offers, especially in e-commerce and gaming. In 2023, revenue in the metaverse market is projected to reach USD 54.95 billion. By the end of the decade, the metaverse is forecasted to reach about 700 million people worldwide.

Since 1st January 2023, the new Anti-Money Laundering Act requires financial intermediaries to comply with strict due diligence duties. The law will now explicitly provide for the verification of the identity of the beneficial owner and a general obligation to update client data. The objective is also to improve the transparency of associations exposed to an increased risk of terrorism financing.

Switzerland adopted a new legislation to protect its citizens' data better. It improves the handling of personal data and grants new rights to Swiss citizens. Several obligations for companies accompany this important legislative change.

The Virtual Asset Regulatory Authority is the competent entity in charge of regulating, supervising and overseeing Virtual Assets and Virtual Asset Providers in Dubai. In this article, we will explore the Law and Regulations and explain how marketing VARA-related activities are regulated and enforced by this authority.

On 1 January 2023, the new provisions on limited company law came into force. The foundation and capital provisions are now more flexible, the shareholders' rights have also been amended. The provisions have been adapted to the existing accounting law. There will be a transitional period of two years for the adaptation of the articles of association of existing companies to the new law. The articles of association of companies founded after 1 January 2023 must comply with the provisions of the new law as soon as they are incorporated.

Dominique Lecocq, Pierre-Antoine Keiser and Logaina Omer's publication on Distributed Ledger Technology ("DLT") touches on the technology's relation to the finance industry, its regulatory context and applicable laws in Switzerland and the Abu Dhabi Global Market ("ADGM").

The 9th edition of The Privacy, Data Protection and Cybersecurity Law Review includes a publication by lecocqassociate's Dominique Lecocq and Logaina Omer about the metaverse and the law. They touch on the legal status of the metaverse internationally, its applicable laws, jurisdictions and frameworks.

The Dubai Financial Services Authority announced several legislative changes made to the DFSA Rules with entry into force on 1 June 2022 and aiming to bring regulatory clarity for a new specialist fund in the Dubai International Financial Centre (DIFC), namely credit funds.

Mixing personal and professional life is a risk no one wants to take—especially business leaders whose public image carries significant responsibilities for the company—demonstrating a clear image speed up the process of establishing a business, closing deals, and inspiring workers, among others. However, after the boom of social networks, the rise of remote work and the evolution and transparency of search engines, separating these two aspects has become increasingly difficult.

Back in 2010, Online Reputation Management activities focused on basic Search Engine Optimisation techniques and copywriting to help gain positions within the Search Engine Result Pages. The Internet was completely different back at that time. Everything is changing now in the era of smartphones, smart speakers and the beginning of the Metaverse.

The introduction of the Financial Services Act (FinSA) on 1 January 2020 has brought significant changes in the law on collective investment schemes. The rules for the offering and distributing foreign collective investment schemes in Switzerland have been amended. This article aims to show which new regulations apply in the context of Switzerland's marketing of foreign funds.

On 15 September 2017, the Swiss Federal Council adopted a Message related to the global revision of the Federal Act on Data Protections of 19 June 1992 (FF 2017 6565 ff). According to this Message, the current FADP has been overtaken by technological and societal developments.

In Switzerland, the Revised Federal Data Protection Act (Revised FDPA), an update of the Swiss data protection act to align it with the General Data Protection Regulation (GDPR), was approved in 2020 and it will enter into force during 2022 or 2023.

When undergoing an infringement of their intellectual property rights, it is paramount that the injured party can react quickly. Interim measures allow such a fast reaction in Switzerland. Such measures differ from ordinary proceedings in four aspects.