Insights

"We believe that personal development is a journey, not a destination, driven by each individual's own initiative. We are curious to learn, take time and initiative to do so and share out knowledge with others" - lecocqassociate Spirit

We therefore take pride in supporting our people in every way we can to achieve this goal, together. We invest from day one in our team members’ continuing professional development and encourage all associates to publish insights in journals that relate to their areas of expertise.

New regime for Credit Funds introduced by the Dubai Financial Services Authority

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.
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Setting Up of an Investment Fund in the Abu Dhabi Global Market and the Dubai International Financial Centre

The United Arab Emirates is known for its business-friendly economic environment and is the Gulf region’s second-largest economy. In 2018, the country received roughly USD 10.3 billion in Foreign Direct Investment in the finance, manufacturing, insurance, real estate and general trading sectors. There are two financial free zones in the UAE in which investment funds are incorporated: the Dubai International Financial Centre (“DIFC”) and the Abu Dhabi Global Market (“ADGM”). This article will focus on the incorporation of an Exempt Fund and a Qualifying Investor Fund (“QIF”) in the DIFC and ADGM.
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Online Identity Management: An Added Value for your Online Presence

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.
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Online Reputation Management over the years and current perspective

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.
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Marketing Foreign Funds in Switzerland

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.
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Switzerland's Data Protection: Brief reminder on the limits to the right to information

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.
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An avalanche in the Alps: the Revised Federal Data Protection Act is nigh

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.
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Interim measures in intellectual property matters

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. Such measures differ from ordinary proceedings in four aspects..
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Switzerland Chapter in The Structured Product Law Review, edition 3

structured products or otherwise called market-linked investment products are "pre-packaged structured finance investment strategy based on a single security, a basket of securities, options, indices, commodities, debt issuance or foreign currencies, and to a lesser extent, derivatives.
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Comparative study of eSport legislations in Switzerland, Malta and the UAE

Esports commonly refer to competitive (pro and amateur) video gaming that is often coordinated by different leagues, ladders and tournaments, and where players customarily belong to teams or other “sporting” organisations which are sponsored by various business organisations. During recent years, esports (electronic sports) have become one of the most rapidly growing forms of new media driven by the growing provenance of (online) games and online broadcasting technologies.
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Limited Qualified Investor Fund: Amendments to CISA for a New Unregulated Fund Category In Switzerland

The Limited Qualified Investor Fund (L-QIF) is an innovative fund product designed to enhance Switzerland's attractiveness and innovative capacity as a fund centre; lecocqassociate provides a full range of financial regulatory, corporate and commercial advice concerning the structuring and incorporation of entities.
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New Data Protection Rules and Guidance Provided By ADGM

The Abu Dhabi Global Market (ADGM) issued new rules supplementing the Data Protection Regulations 2021 previously adopted at the beginning of 2021.
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Sequestration of Assets Located In Switzerland and Belonging to a Debtor Domiciled Abroad

The creditor who intends to sequester the assets of a debtor in Switzerland who is not domiciled in that country will have to make sure that he fulfils the conditions set out in this article and that he obtains as much information as possible in this context, in order to convince the judge of the validity of his claim.‍
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Set Up of a Cryptocurrency Exchange Platform in Switzerland, Malta and Lithuania

A comparative legal review to look into the set-up of cryptocurrency exchanges in renowned jurisdictions: Switzerland, Malta and Lithuania. The set-up of cryptocurrency exchanges is not complicated. We advise that in order to have a sustainable and long-lasting cryptocurrency exchange, it is important to consider the establishment of the exchange.
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Set Up of Operating a Private Financing Platform in the Abu Dhabi Global Market

A PFP is an online (electronic) platform that allows private companies, such as start ups and small and medium enterprises (“SMEs”) from early to pre IPO stage, to source financing from private and institutional investors to launch and scale their businesses.
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“Swiss Made” Sells. Which Criteria Should Companies Comply to Use the Swiss Indication of Source?

The “Swissness” trademark legislative amendment came into force on 1 January 2017. It strengthens the “Swiss Made” designation and the Swiss stamp of quality. It aims to reinforce the value of Swiss products used for marketing products, and in turn, contributes to preventing any wrongful use of the Swiss indication of the source.
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Setting Up a Financial Consultancy or Advisory Firm in the United Arab Emirates

A financial consultancy or advisory firm comprises of highly qualified financial advisors and consultants who help individuals and companies make strategic decisions to reach a certain financial goal. In the UAE there are mainly 3 jurisdictions to set-up a financial consultancy or advisory - The ADGM, the DIFC and Mainland UAE.
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UAE Economic Substance Rules

On 30 April 2019, the United Arab Emirates (UAE) issued Cabinet Decision No. 31 of 2019 concerning Economic Substance Requirements (Regulations) in response to the European Union Code of Conduct Group’s assessment of its tax framework...
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New Foreign Ownership Regime For United Arab Emirates Mainland Companies: 100% Foreign Ownership Now Permitted, Albeit With Nuances

The Federal Decree-Law No. 26/2020 On the amendment of certain provisions of Federal Law No. 2/2015 on Commercial Companies (the "Federal Decree-Law No. 26/2020") issued on 27 September 2020 now establishes as a default position the possibility of 100% foreign ownership in the United Arab Emirates
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DIFC Consultation Paper No. 138 on Regulation of Security Tokens

The Consultation Paper No. 138 of the Dubai Financial Services Authority (“DFSA”) it's relating to the regulation of security tokens (“Consultation Paper”). For a period of 30 days, the regulator will be collecting feedback from the public on its proposed regulatory framework around security tokens a specific form of crypto-asset/token.
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Setting Up An Asset Management Firm In Abu Dhabi Global Market Or Dubai International Financial Center

An Asset Management Firm traditionally pools and invests funds from High Net Worth Individuals ("HNWI") and/or rich families through various types of assets which include equities, real estate, bonds and other classes of assets depending on the type of Asset Management Firm. Other than big individual portfolios, asset management firms also manage pension plans, hedge funds, and other pooled structures like mutual funds or exchange-traded funds.
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The Deadline for Converting Bearer Shares into Registered Shares Has Expired: How to Proceed?

Following international pressure from the Global Forum on Transparency and Exchange of Information for Tax Purposes of the Organisation for Economic Co-operation and Development (the "OECD"), Switzerland has amended its legislation to abolish certain types of shares.
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Economic Substance Regulations in the United Arab Emirates

Regulations are required by certain businesses and companies in the UAE to maintain an adequate economic presence relative to the activities they undertake. The Regulations also require an assessment be made in order to determine whether an Economic Substance Notification (“Notification”) and/or an Economic Substance Report (“Report”) should be filed for a specified financial year.
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Securitization Vehicles

In the past, securitizations were being abandoned due to the financial crisis. However it is re-surfacing, attracting both investors and issuers alike due to the current global volatile environment. It is important to take note that these structures are complex and require professional and sound advice and overview of the entire securitization process...
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Being a Full Bank, a Light Bank, or a Non-Bank in Switzerland

Understand the conditions and exceptions of a Full Bank, a Light Bank, or a Non-Bank in Switzerland. These Financial Institutions are regulated by the principle law – the Financial Market Supervisory Act (“FINMASA”) which aids as an “umbrella law” for other regulations surrounding financial market supervision.
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Defamation Offences Analysis in Switzerland, Malta and UAE

The purpose of this analysis is to compare the different limitation periods applicable to defamation offences in Switzerland, Malta and the United Arab Emirates, as well as the periods after which the entry of the offence in the criminal record can be removed.
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Financial Crimes comparation between Switzerland, Malta and the United Arab Emirates

The purpose of this analysis is to compare the different limitation periods applicable to different financial crimes in Switzerland, Malta and the United Arab Emirates, as well as the periods after which the offence can be removed from the criminal record.
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Portfolio Managers and Trustees - Delegation of Tasks under FINIA

Portfolio managers and Trustees are in the process of filing their licence applications with FINMA. In this context, several questions arise, particularly in relation to the organisation of the company. This article will examine under what conditions and in what form portfolio managers can delegate certain tasks to third parties...
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Set Up Trading Construction And Steel Equipment companies in the United Arab Emirates

This article provides a comparison between different free zones in the United Arab Emirates which allow an entity to conduct the activity of trading construction and steel equipment. It includes Visa and Immigration Costs, Registry and Incorporation Costs, Audit Requirement, Minimum share Capital.
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New Data Protection Regime in ADGM and Comparison with DIFC

A guide for comparing the Dubai International Financial Centre ("DIFC") Data Protection Law and the Abu Dhabi Global Market (“ADGM”). Updated after the announcement made by the ADGM that it has enacted the Data Protection Regulations 2021 (the “ADGM DP Regulations”), which will replace the current ADGM Data Protection Regulations 2015.
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Corporate Financial Crimes comparative Analysis within companies in Switzerland, Malta and the United Arab Emirates

The purpose of this analysis is to compare the different limitation periods applicable to the various offences relating to corporate financial crimes within companies in Switzerland, Malta and the United Arab Emirates, as well as the periods after the expiration of which the entry of the offence in the criminal record can be deleted.
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Tax Related Offences comparative analysis within Switzerland, Malta and the United Arab Emirates

The purpose of this analysis is to compare the different limitation periods applicable to the various offences relating to the taxation of individuals and legal entities in Switzerland, Malta and the United Arab Emirates, as well as the periods after the expiration of which the entry of the offence in the criminal record can be deleted...
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The European Digital Strategy

The European Commission has tried to regulate e-commerce and the related challenges offered by internet giants “GAFAM” - an acronym for Google, Amazon, Facebook, Apple and Microsoft, the biggest internet-based corporations, from time to time also Netflix and/or Twitter are added. This article will try to summarise some of the main elements of those legislations.
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Securities Token Offering (STO'S) in Switzerland

In Switzerland, the government’s general attitude towards cryptocurrencies is positive. Switzerland sees an opportunity to take a global lead in this sector and evolve as an innovative and sustainable location for fintech and distributed ledger technology. Laws and regulations are flexible and accommodating towards new technologies such as Security token offering (STO) in Switzerland.
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Access to Personal Data Under The New Financial Services Act And Data Protection Act

This article will examine the obligations of the financial services provider[1] to allow their clients access to a copy of their file or any other document relating to the established business relationship within the meaning of the Financial Services Act (“FinSA”) and under the Federal Data Protection Act (“FADP”)...
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IOSCO Consultation Report - The Use Of Articicial Intelligence And Machine Learning By Market Intermiaries And Asset Managers

Market intermediaries and asset managers that use artificial intelligence (“AI”) and machine learning (“ML”) are recommended to abide by guidelines and measures set forth by the International Organisation of Securities Commissions (“IOSCO”) published on 25 June 2020...
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