10.10-16.10.2024
Arbitration Law
🇬🇧 UK: Reuters, 14.10.2024: Russian tycoon Deripaska wins case against Quinn Emanuel over 'forged' report. Russian aluminium tycoon Oleg Deripaska on Monday won a bid in a London court to force Quinn Emanuel Urquhart & Sullivan to reveal who provided the law firm with an allegedly forged report used in a legal battle with his former business partner.
Sanctions and Compliance
🇺🇸 USA: U.S. Attorney’s Office, District of Massachusetts, Press Releases, 09.10.2024: Eighteen Individuals and Entities Charged in International Operation Targeting Widespread Fraud and Manipulation in the Cryptocurrency Markets. First-ever criminal charges against financial services firms for market manipulation and “wash trading” in the cryptocurrency industry.
🇪🇸 ES: European Anti-Fraud Office, Press release, 15.10.2024: OLAF intelligence supports Spanish Operation enforcing EU sanctions against Russia. The European Anti-Fraud Office (OLAF) assisted the Spanish authorities with the enforcement of EU sanctions against Russia during Operation “Probirka" (Russian for “Test Tube"). The operation led to the arrest of four individuals involved in the illegal export of chemicals to Russia and the seizure of 13 tons of chemical substances.
🇺🇸 USA: U.S. Attorney’s Office, Press Releases, 09.10.2024: Two Russian Nationals Charged For Their Participation In An Illicit Procurement Network That Exported To Russia Sensitive U.S.-Sourced Microelectronics With Military Applications In Violation Of U.S. Export Controls.
Anti-money laundering (AML)
🇺🇸 USA: Office of Public Affairs, Press Release, 10.10.2024: Drug Maker Teva Pharmaceuticals Agrees to Pay $450M in False Claims Act Settlement to Resolve Kickback Allegations Relating to Copayments and Price Fixing. Teva, headquartered in Parsippany, New Jersey, is the largest generic drug manufacturer in the United States. The settlement amount was based on Teva’s ability to pay.
Taxes
🇪🇺 EU: Mondaq, 10.10.2024: EU List Of Non-cooperative Jurisdictions For Tax Purposes Updated By The EU Council. As of 8 October 2024, following the delisting of Antigua and Barbuda, the Blacklist now includes the 11 following jurisdictions (the "Blacklisted Jurisdictions"): American Samoa; Anguilla; Fiji; Guam; Palau; Panama; Russia; Samoa; Trinidad and Tobago; US Virgin Islands and Vanuatu. The list will become official upon publication in the Official Journal ("OJ") to take place in the coming days.
Интересная статья: Pravo.ru, 16.10.2024: Нейросеть может сгенерировать договор или ходатайство. Но различаются ли документы, составленные ИИ и юристом? Попросили юристов сформулировать условия мирового соглашения, объяснить профессиональный термин и написать расписку. С таким же заданием обратились к искусственному интеллекту. Пройдите тест и попробуйте определить автора.
#legalnews
Arbitration Law
🇬🇧 UK: Reuters, 14.10.2024: Russian tycoon Deripaska wins case against Quinn Emanuel over 'forged' report. Russian aluminium tycoon Oleg Deripaska on Monday won a bid in a London court to force Quinn Emanuel Urquhart & Sullivan to reveal who provided the law firm with an allegedly forged report used in a legal battle with his former business partner.
Sanctions and Compliance
🇺🇸 USA: U.S. Attorney’s Office, District of Massachusetts, Press Releases, 09.10.2024: Eighteen Individuals and Entities Charged in International Operation Targeting Widespread Fraud and Manipulation in the Cryptocurrency Markets. First-ever criminal charges against financial services firms for market manipulation and “wash trading” in the cryptocurrency industry.
🇪🇸 ES: European Anti-Fraud Office, Press release, 15.10.2024: OLAF intelligence supports Spanish Operation enforcing EU sanctions against Russia. The European Anti-Fraud Office (OLAF) assisted the Spanish authorities with the enforcement of EU sanctions against Russia during Operation “Probirka" (Russian for “Test Tube"). The operation led to the arrest of four individuals involved in the illegal export of chemicals to Russia and the seizure of 13 tons of chemical substances.
🇺🇸 USA: U.S. Attorney’s Office, Press Releases, 09.10.2024: Two Russian Nationals Charged For Their Participation In An Illicit Procurement Network That Exported To Russia Sensitive U.S.-Sourced Microelectronics With Military Applications In Violation Of U.S. Export Controls.
Anti-money laundering (AML)
🇺🇸 USA: Office of Public Affairs, Press Release, 10.10.2024: Drug Maker Teva Pharmaceuticals Agrees to Pay $450M in False Claims Act Settlement to Resolve Kickback Allegations Relating to Copayments and Price Fixing. Teva, headquartered in Parsippany, New Jersey, is the largest generic drug manufacturer in the United States. The settlement amount was based on Teva’s ability to pay.
Taxes
🇪🇺 EU: Mondaq, 10.10.2024: EU List Of Non-cooperative Jurisdictions For Tax Purposes Updated By The EU Council. As of 8 October 2024, following the delisting of Antigua and Barbuda, the Blacklist now includes the 11 following jurisdictions (the "Blacklisted Jurisdictions"): American Samoa; Anguilla; Fiji; Guam; Palau; Panama; Russia; Samoa; Trinidad and Tobago; US Virgin Islands and Vanuatu. The list will become official upon publication in the Official Journal ("OJ") to take place in the coming days.
Интересная статья: Pravo.ru, 16.10.2024: Нейросеть может сгенерировать договор или ходатайство. Но различаются ли документы, составленные ИИ и юристом? Попросили юристов сформулировать условия мирового соглашения, объяснить профессиональный термин и написать расписку. С таким же заданием обратились к искусственному интеллекту. Пройдите тест и попробуйте определить автора.
#legalnews
17.10-23.10.2024
Sanctions and Compliance
🇪🇺 EU: Big News Network, 18.10.2024: Eurovision star launches legal challenge against EU sanctions. Pop star and Eurovision finalist Polina Gagarina has asked the EU's top court to remove her from the list of sanctions that were imposed on Russians in connection with the Ukraine conflict.
🇪🇺 EU: United Nations, Office of the High Commissioner for Human Rights, Press Release, 16.10.2024: UN expert concerned at reported use of family ties as sole grounds for sanctions designations. A UN expert* today urged the Council of the European Union and the Government of Switzerland to review their imposition of sanctions on Aleksandra Melnichenko, the spouse of sanctioned Russian billionaire Andrey Melnichenko, and allow access to evidence used for her designation under restrictive measures frameworks.
🇨🇭CH: Bloomberg, 18.10.2024: Swiss Authorities Investigate Firms Dodging Russia Sanctions. Switzerland is investigating companies that use subsidiaries in other countries to sidestep sanctions on Russia, but which are still controlled from Swiss cities such as Geneva or Zug.
🇫🇮 FI: Customs, Press Release, 17.10.2024: Finnish Customs has uncovered an aggravated regulation offence – electronics purchased from international online stores are suspected of having been exported to Russia via intermediate storage. The value of the sanctioned goods has been around 700 000 euros.
Anti-money laundering (AML)
🇫🇷 FR: FATF, Press Release, 17.10.2024: FATF changes its grey listing criteria to further focus on risk. The FATF has made major changes to the criteria for putting countries on its lists to relieve pressures on least developed countries and focus on those countries posing greater risks to the international financial system.
Интересная статья: Forbes, 21.10.2024: Нидерланды готовятся ограничить использование английского в университетах. Министр образования Нидерландов предлагает ограничить применение английского языка в вузах, чтобы сократить приток зарубежных студентов.
#legalnews
Sanctions and Compliance
🇪🇺 EU: Big News Network, 18.10.2024: Eurovision star launches legal challenge against EU sanctions. Pop star and Eurovision finalist Polina Gagarina has asked the EU's top court to remove her from the list of sanctions that were imposed on Russians in connection with the Ukraine conflict.
🇪🇺 EU: United Nations, Office of the High Commissioner for Human Rights, Press Release, 16.10.2024: UN expert concerned at reported use of family ties as sole grounds for sanctions designations. A UN expert* today urged the Council of the European Union and the Government of Switzerland to review their imposition of sanctions on Aleksandra Melnichenko, the spouse of sanctioned Russian billionaire Andrey Melnichenko, and allow access to evidence used for her designation under restrictive measures frameworks.
🇨🇭CH: Bloomberg, 18.10.2024: Swiss Authorities Investigate Firms Dodging Russia Sanctions. Switzerland is investigating companies that use subsidiaries in other countries to sidestep sanctions on Russia, but which are still controlled from Swiss cities such as Geneva or Zug.
🇫🇮 FI: Customs, Press Release, 17.10.2024: Finnish Customs has uncovered an aggravated regulation offence – electronics purchased from international online stores are suspected of having been exported to Russia via intermediate storage. The value of the sanctioned goods has been around 700 000 euros.
Anti-money laundering (AML)
🇫🇷 FR: FATF, Press Release, 17.10.2024: FATF changes its grey listing criteria to further focus on risk. The FATF has made major changes to the criteria for putting countries on its lists to relieve pressures on least developed countries and focus on those countries posing greater risks to the international financial system.
Интересная статья: Forbes, 21.10.2024: Нидерланды готовятся ограничить использование английского в университетах. Министр образования Нидерландов предлагает ограничить применение английского языка в вузах, чтобы сократить приток зарубежных студентов.
#legalnews
24.10-30.10.2024
Sanctions and Compliance
🇬🇧 UK: OFSI, 25.10.2024: The UK General License for legal services for Russia and Belarus, which expires on October 28, 2024, has been replaced with the new General License INT/2024/5334756.
🇪🇺 EU: Duane Morris London Office, 25.10.2024: European Sanctions Enforcement – performance league tables (2017-2024). Over 3,800 investigations since February 2022. Over €415 million in fines since 2017. Enforcement action in 27 European countries. Over 300 convictions / fines / penalties since 2017.
🇺🇸 USA: U.S. Department of the Treasury, 30.10.2024: Treasury Takes Aim at Third-Country Sanctions Evaders and Russian Producers Supporting Russia’s Military Industrial Base. Today’s action targets both individual actors and sprawling sanctions evasion networks across 17 jurisdictions, including India, the People’s Republic of China (PRC), Switzerland, Thailand, and Türkiye.
Employment Law
🇬🇧 UK: Davidson Morris Solicitors, 24.10.2024: Govt Factsheets Expand on Employment Rights Bill. The UK Government introduced the Employment Rights Bill on 10 October 2024, marking what is set to be a significant shift in workers’ rights.
Legal profession
🇺🇸 USA: CNN, 23.10.2024: A federal judge on Tuesday ordered former Donald Trump attorney and New York mayor Rudy Giuliani to turn over all his valuable possessions and his Manhattan penthouse apartment to the control of Ruby Freeman and Shaye Moss, the Georgia election workers he defamed and to whom he now owes $150 million.
🇬🇧 UK: The Law Society Gazette, 29.10.2024: The solicitors' regulator is to face unprecedented enforcement action under the Legal Services Act following the discovery of a catalogue of failures in its handling of the 2023 collapse of law firm Axiom Ince.
Интересное видео:
Запись эфира: Релокейт: где юристам выгоднее жить и работать. В этом выпуске подкаста, ведущий Максим Матвиенко обсуждает с экспертами, где юристам выгоднее строить карьеру и жить.
I Broke Dumb Laws In Front Of Police. Britain is an old-fashioned, weird place, and its esoteric laws are among the most ridiculous things about the place. From it being illegal to handle a salmon suspiciously, to the threat of having your head chopped off for wearing a suit of armour in Parliament, VICE's Oobah Butler sees if anyone takes any of these laws seriously by trying to break as many as he can - in front of policemen.
#legalnews
Sanctions and Compliance
🇬🇧 UK: OFSI, 25.10.2024: The UK General License for legal services for Russia and Belarus, which expires on October 28, 2024, has been replaced with the new General License INT/2024/5334756.
🇪🇺 EU: Duane Morris London Office, 25.10.2024: European Sanctions Enforcement – performance league tables (2017-2024). Over 3,800 investigations since February 2022. Over €415 million in fines since 2017. Enforcement action in 27 European countries. Over 300 convictions / fines / penalties since 2017.
🇺🇸 USA: U.S. Department of the Treasury, 30.10.2024: Treasury Takes Aim at Third-Country Sanctions Evaders and Russian Producers Supporting Russia’s Military Industrial Base. Today’s action targets both individual actors and sprawling sanctions evasion networks across 17 jurisdictions, including India, the People’s Republic of China (PRC), Switzerland, Thailand, and Türkiye.
Employment Law
🇬🇧 UK: Davidson Morris Solicitors, 24.10.2024: Govt Factsheets Expand on Employment Rights Bill. The UK Government introduced the Employment Rights Bill on 10 October 2024, marking what is set to be a significant shift in workers’ rights.
Legal profession
🇺🇸 USA: CNN, 23.10.2024: A federal judge on Tuesday ordered former Donald Trump attorney and New York mayor Rudy Giuliani to turn over all his valuable possessions and his Manhattan penthouse apartment to the control of Ruby Freeman and Shaye Moss, the Georgia election workers he defamed and to whom he now owes $150 million.
🇬🇧 UK: The Law Society Gazette, 29.10.2024: The solicitors' regulator is to face unprecedented enforcement action under the Legal Services Act following the discovery of a catalogue of failures in its handling of the 2023 collapse of law firm Axiom Ince.
Интересное видео:
Запись эфира: Релокейт: где юристам выгоднее жить и работать. В этом выпуске подкаста, ведущий Максим Матвиенко обсуждает с экспертами, где юристам выгоднее строить карьеру и жить.
I Broke Dumb Laws In Front Of Police. Britain is an old-fashioned, weird place, and its esoteric laws are among the most ridiculous things about the place. From it being illegal to handle a salmon suspiciously, to the threat of having your head chopped off for wearing a suit of armour in Parliament, VICE's Oobah Butler sees if anyone takes any of these laws seriously by trying to break as many as he can - in front of policemen.
#legalnews
31.10-06.11.2024
Sanctions and Compliance
🇺🇸 USA: Office of Public Affairs, 04.11.2024: Virginia Company and Two Senior Executives Charged with Illegally Exporting Millions of Dollars of U.S. Technology to Russia. Eleview International Inc., Oleg Nayandin, 54, of Fairfax, Virginia, and Vitaliy Borisenko, 39, of Vienna, Virginia, made their initial appearance today in the Eastern District of Virginia pursuant to a now unsealed complaint charging them with conspiracy to violate the Export Control Reform Act. If convicted, Nayandin and Borisenko each face a maximum penalty of 20 years in prison.
🇬🇧 UK: Office of Financial Sanctions Implementation, 05.11.2024: The UK FAQs on legal assistance have been updated. Changes were made to FAQ sections 49-51, 55, 61-66, 72-73, 76, and 84: fee and expense limits have been increased, a new restriction on transfers to accounts in banks outside the UK has been introduced, and the position on limits applicable to in-house lawyers and directly authorized counsel has been clarified.
Public International Law
🇺🇳 UN: United Nations, Meetings Coverage and Press Releases, 30.10.2024: The 193-member Assembly adopted its annual resolution on the “Necessity of ending the economic, commercial and financial embargo imposed by the United States of America against Cuba”, by a recorded vote of 187 in favour and 2 against (United States, Israel), with 1 abstention (Republic of Moldova).
🇺🇸 USA: The White House, Briefing Room, Presidential Actions, 01.11.2024: Notice to the Speaker of the House and President of the Senate on the Continuation of the National Emergency With Respect to Iran.
Intellectual Property Law
🇬🇧 UK: Reuters, 31.10.2024: Google defeats UK trademark lawsuit over YouTube Shorts name. Google on Thursday defeated a trademark lawsuit brought by a British short film company over YouTube's short video platform Shorts, with London's High Court ruling there was no risk of confusion for consumers.
🇪🇺 EU: European Commission, 05.11.2024: The European Commission has published updated FAQs on Intellectual Property Rights. Many clarifications pertain to the new Article 5c, introduced in the 14th sanctions package in June 2024. This article prohibits intellectual property offices in the EU from accepting registration applications from legal entities in Russia. This provision is explained as a response to Russia’s actions related to parallel imports.
Интересная статья: Pravo.ru, 01.11.2024: Банкротство под санкциями: российским кредиторам дали право голоса.
#legalnews
Sanctions and Compliance
🇺🇸 USA: Office of Public Affairs, 04.11.2024: Virginia Company and Two Senior Executives Charged with Illegally Exporting Millions of Dollars of U.S. Technology to Russia. Eleview International Inc., Oleg Nayandin, 54, of Fairfax, Virginia, and Vitaliy Borisenko, 39, of Vienna, Virginia, made their initial appearance today in the Eastern District of Virginia pursuant to a now unsealed complaint charging them with conspiracy to violate the Export Control Reform Act. If convicted, Nayandin and Borisenko each face a maximum penalty of 20 years in prison.
🇬🇧 UK: Office of Financial Sanctions Implementation, 05.11.2024: The UK FAQs on legal assistance have been updated. Changes were made to FAQ sections 49-51, 55, 61-66, 72-73, 76, and 84: fee and expense limits have been increased, a new restriction on transfers to accounts in banks outside the UK has been introduced, and the position on limits applicable to in-house lawyers and directly authorized counsel has been clarified.
Public International Law
🇺🇳 UN: United Nations, Meetings Coverage and Press Releases, 30.10.2024: The 193-member Assembly adopted its annual resolution on the “Necessity of ending the economic, commercial and financial embargo imposed by the United States of America against Cuba”, by a recorded vote of 187 in favour and 2 against (United States, Israel), with 1 abstention (Republic of Moldova).
🇺🇸 USA: The White House, Briefing Room, Presidential Actions, 01.11.2024: Notice to the Speaker of the House and President of the Senate on the Continuation of the National Emergency With Respect to Iran.
Intellectual Property Law
🇬🇧 UK: Reuters, 31.10.2024: Google defeats UK trademark lawsuit over YouTube Shorts name. Google on Thursday defeated a trademark lawsuit brought by a British short film company over YouTube's short video platform Shorts, with London's High Court ruling there was no risk of confusion for consumers.
🇪🇺 EU: European Commission, 05.11.2024: The European Commission has published updated FAQs on Intellectual Property Rights. Many clarifications pertain to the new Article 5c, introduced in the 14th sanctions package in June 2024. This article prohibits intellectual property offices in the EU from accepting registration applications from legal entities in Russia. This provision is explained as a response to Russia’s actions related to parallel imports.
Интересная статья: Pravo.ru, 01.11.2024: Банкротство под санкциями: российским кредиторам дали право голоса.
#legalnews
07.11-13.11.2024
Sanctions and Compliance
🇺🇸 USA: U.S. Attorney's Office, Eastern District of New York, 07.11.2024: Businessman Pleads Guilty to Export, Tax Charges in Connection with Shipments of Other Sensitive Technology to Russia. Defendant Illegally Transferred Hundreds of Thousands of Dual-Use Semiconductors to Sanctioned Russian Entities with Ties to the Military and Intelligence Agencies. The guilty pleas took place before United States District Judge Ann M. Donnelly. When sentenced, Ilya Kahn faces up to 20 years in prison.
🇬🇧 UK: Office of Financial Sanctions Implementation, 11.11.2024: UK Financial Sanctions FAQs. 124. In light of the Russian Decree 840, which has moved equities held at the Russian National Settlement Depository (NSD) to local registrars, are relevant institutions still required to treat the transferred assets as frozen? Presidential Decree 840 is an attempt by the Russian Federation to evade or avoid sanctions on the NSD by requiring the transfer of certain securities to local Russian registrars. It is advised that you consult the OFSI consolidated list and conduct your own due diligence.
🇨🇭 CH: Reuters, 13.11.2024: Exclusive: Exclusive: US scrutinizes Russia accounts UBS took over from Credit Suisse, sources say. ZURICH/FRANKFURT/LONDON, Nov 12 (Reuters) - The United States is pursuing an inquiry into Russian clients that UBS, opens new tab took on when it bought Credit Suisse, three people familiar with the matter said, heightening scrutiny of one of the world's biggest wealth managers.
Anti-Money Laundering (AML) Law
🇨🇭 CH: The Federal Council The portal of the Swiss government, 07.11.2024: Funds and gold worth millions moved across borders: the Office of the Attorney General of Switzerland charges two men with qualified money laundering. The OAG accuses the two men of having moved assets acquired by criminal means – namely EUR 34 million, CHF 1 million and around 830 kilograms of gold – across borders for at least four years as part of an internationally operating criminal network in breach of applicable declaration obligations. As the accused have confessed, they will be tried in accelerated proceedings.
Legal profession
🇺🇸 USA: CNN, 12.11.2024: Trump picks Bill McGinley to serve as his White House counsel. The lawyer in the powerful post would become one of the chief advisers who acts as a guardrail for the president. Yet Trump’s style has caused his past White House counsels to become top witnesses in multiple federal investigations – including McGinley’s longtime colleague and Trump’s first White House Counsel Don McGahn.
Интересная статья: Pravo.ru, 08.11.2024: Замороженные активы: как снять зарубежную блокировку и вернуть деньги.
#legalnews
Sanctions and Compliance
🇺🇸 USA: U.S. Attorney's Office, Eastern District of New York, 07.11.2024: Businessman Pleads Guilty to Export, Tax Charges in Connection with Shipments of Other Sensitive Technology to Russia. Defendant Illegally Transferred Hundreds of Thousands of Dual-Use Semiconductors to Sanctioned Russian Entities with Ties to the Military and Intelligence Agencies. The guilty pleas took place before United States District Judge Ann M. Donnelly. When sentenced, Ilya Kahn faces up to 20 years in prison.
🇬🇧 UK: Office of Financial Sanctions Implementation, 11.11.2024: UK Financial Sanctions FAQs. 124. In light of the Russian Decree 840, which has moved equities held at the Russian National Settlement Depository (NSD) to local registrars, are relevant institutions still required to treat the transferred assets as frozen? Presidential Decree 840 is an attempt by the Russian Federation to evade or avoid sanctions on the NSD by requiring the transfer of certain securities to local Russian registrars. It is advised that you consult the OFSI consolidated list and conduct your own due diligence.
🇨🇭 CH: Reuters, 13.11.2024: Exclusive: Exclusive: US scrutinizes Russia accounts UBS took over from Credit Suisse, sources say. ZURICH/FRANKFURT/LONDON, Nov 12 (Reuters) - The United States is pursuing an inquiry into Russian clients that UBS, opens new tab took on when it bought Credit Suisse, three people familiar with the matter said, heightening scrutiny of one of the world's biggest wealth managers.
Anti-Money Laundering (AML) Law
🇨🇭 CH: The Federal Council The portal of the Swiss government, 07.11.2024: Funds and gold worth millions moved across borders: the Office of the Attorney General of Switzerland charges two men with qualified money laundering. The OAG accuses the two men of having moved assets acquired by criminal means – namely EUR 34 million, CHF 1 million and around 830 kilograms of gold – across borders for at least four years as part of an internationally operating criminal network in breach of applicable declaration obligations. As the accused have confessed, they will be tried in accelerated proceedings.
Legal profession
🇺🇸 USA: CNN, 12.11.2024: Trump picks Bill McGinley to serve as his White House counsel. The lawyer in the powerful post would become one of the chief advisers who acts as a guardrail for the president. Yet Trump’s style has caused his past White House counsels to become top witnesses in multiple federal investigations – including McGinley’s longtime colleague and Trump’s first White House Counsel Don McGahn.
Интересная статья: Pravo.ru, 08.11.2024: Замороженные активы: как снять зарубежную блокировку и вернуть деньги.
#legalnews
14.11-20.11.2024
Sanctions and Compliance
🇬🇧 UK: OFSI, 14.11.2024: Changes to sanctions legislation introduced through the Sanctions (EU Exit) (Miscellaneous Amendments) (No.2) Regulations 2024. The Amending Regulation introduces several important changes to existing UK sanctions legislation, primarily in respect of the UK’s financial sanctions framework.
🇪🇺 EU: offshore-energy.biz, 18.11.2024: EU to tighten the noose on Russia’s ‘shadow fleet’. In a resolution adopted on November 14, 2024, the European Parliament called for more targeted measures against these vessels in the next EU sanctions packages, including all individual ships as well as their owners, operators, managers, accounts, banks and insurance companies.
Criminal Law
🇬🇧 UK: The Guardian, 14.11.2024: Investment firm London Capital & Finance was Ponzi scheme, court rules. Judge Robert Miles says former chief Michael Thomson and four others knowingly participated in fraud. Investment firm London Capital & Finance (LCF), whose failure in 2019 triggered one of Britain’s biggest retail investment scandals, operated as a Ponzi scheme, a London judge ruled on Thursday.
Legal profession
🇺🇸 USA: The New York Times, 15.11.2024: The Trump Lawyer Who Wields Outsize Influence on the Next White House. Boris Epshteyn has quickly become one of the most powerful figures in the early days of the presidential transition, even floating his own name to help broker peace between Russia and Ukraine. Mr. Epshteyn, who was born in Russia and lived there as a child, has no experience in foreign policy. He told the group that he had family on both sides of the conflict.
🇬🇧 UK: abovethelaw.com, 15.11.2024: Biglaw Partner Throws Temper Tantrum When Pregnant Associate Nabs His Parking Spot. Richard Pitt is a partner at Eversheds Sutherland in their Cardiff office, where he leads the Commercial Dispute Resolution team and is Co-Head of the Procurement team. But he’s getting a lot of attention, not for his lawyering skills, but for his anger management ones, or, more accurately, lack thereof.
Интересная статья: Pravo.ru, 13.11.2024: Крупные проекты и поиск специалистов: как изменился региональный юррынок.
#legalnews
Sanctions and Compliance
🇬🇧 UK: OFSI, 14.11.2024: Changes to sanctions legislation introduced through the Sanctions (EU Exit) (Miscellaneous Amendments) (No.2) Regulations 2024. The Amending Regulation introduces several important changes to existing UK sanctions legislation, primarily in respect of the UK’s financial sanctions framework.
🇪🇺 EU: offshore-energy.biz, 18.11.2024: EU to tighten the noose on Russia’s ‘shadow fleet’. In a resolution adopted on November 14, 2024, the European Parliament called for more targeted measures against these vessels in the next EU sanctions packages, including all individual ships as well as their owners, operators, managers, accounts, banks and insurance companies.
Criminal Law
🇬🇧 UK: The Guardian, 14.11.2024: Investment firm London Capital & Finance was Ponzi scheme, court rules. Judge Robert Miles says former chief Michael Thomson and four others knowingly participated in fraud. Investment firm London Capital & Finance (LCF), whose failure in 2019 triggered one of Britain’s biggest retail investment scandals, operated as a Ponzi scheme, a London judge ruled on Thursday.
Legal profession
🇺🇸 USA: The New York Times, 15.11.2024: The Trump Lawyer Who Wields Outsize Influence on the Next White House. Boris Epshteyn has quickly become one of the most powerful figures in the early days of the presidential transition, even floating his own name to help broker peace between Russia and Ukraine. Mr. Epshteyn, who was born in Russia and lived there as a child, has no experience in foreign policy. He told the group that he had family on both sides of the conflict.
🇬🇧 UK: abovethelaw.com, 15.11.2024: Biglaw Partner Throws Temper Tantrum When Pregnant Associate Nabs His Parking Spot. Richard Pitt is a partner at Eversheds Sutherland in their Cardiff office, where he leads the Commercial Dispute Resolution team and is Co-Head of the Procurement team. But he’s getting a lot of attention, not for his lawyering skills, but for his anger management ones, or, more accurately, lack thereof.
Интересная статья: Pravo.ru, 13.11.2024: Крупные проекты и поиск специалистов: как изменился региональный юррынок.
#legalnews
21.11-27.11.2024
Sanctions and Compliance
🇺🇸 USA: OFAC, 21.11.2024: Russia-related Designations and Updates; Issuance of Russia-related General Licenses and Frequently Asked Questions; Publication of Russia-related OFAC Alert. OFAC has sanctioned Gazprombank and its six foreign subsidiaries, more than 50 Russian banks with international connections, more than 40 Russian securities registrars, and 15 finance officials.
🇬🇧 UK: www.gov.uk, Press release, 25.11.2024: UK imposes new wave of sanctions choking Russian oil revenues with Foreign Secretary arriving in Italy for G7. Thirty ships in Russia’s shadow fleet have today been sanctioned by the UK. The following entries have been added to the Consolidated List and are now subject to an asset freeze and trust services sanctions: ALFASTRAKHOVANIE PLC, VSK.
🇬🇧 UK: www.gov.uk, Press release, 21.11.2024: UK cracks down on dirty money with fresh sanctions. Three infamous kleptocrats and their associates have been sanctioned by the UK today for stealing their countries’ wealth for personal gain.
Criminal Law
🇺🇸 USA: The Wall Street Journal, 25.11.2024: Hong Kong Is Becoming Hub for Financial Crime, U.S. Lawmakers Say. Leading China hawks in the U.S. House of Representatives are calling for a rethink on whether Hong Kong should continue to enjoy the cozy banking relationship it has with the U.S., saying the city is becoming a hub for money-laundering and sanctions evasion.
🇺🇸 USA: InvestmentNews, 26.11.2024: Morgan Stanley courted AML risks as it wooed wealthy clients, says WSJ report. A recent years-long effort by Morgan Stanley to expand its wealth business globally caused it to overlook a significant number of high-risk clients, to the point that one in four of its international accounts were flagged for elevated risks of money laundering, according to a new investigation by the Wall Street Journal.
🇨🇳 CN: The New York Times, 26.11.2024: China’s Police Are Preying on Small Firms in Search of Cash. With localities facing budget holes, the police are crossing provincial borders to collect fines and draining company treasuries. Businesses call it a shakedown.
Taxes
🇺🇸 USA: NPR, 26.11.2024: Trump has promised lower taxes. These are 3 ways it could impact you. On the campaign trail, Donald Trump promised to put more money back in Americans' pockets by cutting their taxes.
#legalnews
Sanctions and Compliance
🇺🇸 USA: OFAC, 21.11.2024: Russia-related Designations and Updates; Issuance of Russia-related General Licenses and Frequently Asked Questions; Publication of Russia-related OFAC Alert. OFAC has sanctioned Gazprombank and its six foreign subsidiaries, more than 50 Russian banks with international connections, more than 40 Russian securities registrars, and 15 finance officials.
🇬🇧 UK: www.gov.uk, Press release, 25.11.2024: UK imposes new wave of sanctions choking Russian oil revenues with Foreign Secretary arriving in Italy for G7. Thirty ships in Russia’s shadow fleet have today been sanctioned by the UK. The following entries have been added to the Consolidated List and are now subject to an asset freeze and trust services sanctions: ALFASTRAKHOVANIE PLC, VSK.
🇬🇧 UK: www.gov.uk, Press release, 21.11.2024: UK cracks down on dirty money with fresh sanctions. Three infamous kleptocrats and their associates have been sanctioned by the UK today for stealing their countries’ wealth for personal gain.
Criminal Law
🇺🇸 USA: The Wall Street Journal, 25.11.2024: Hong Kong Is Becoming Hub for Financial Crime, U.S. Lawmakers Say. Leading China hawks in the U.S. House of Representatives are calling for a rethink on whether Hong Kong should continue to enjoy the cozy banking relationship it has with the U.S., saying the city is becoming a hub for money-laundering and sanctions evasion.
🇺🇸 USA: InvestmentNews, 26.11.2024: Morgan Stanley courted AML risks as it wooed wealthy clients, says WSJ report. A recent years-long effort by Morgan Stanley to expand its wealth business globally caused it to overlook a significant number of high-risk clients, to the point that one in four of its international accounts were flagged for elevated risks of money laundering, according to a new investigation by the Wall Street Journal.
🇨🇳 CN: The New York Times, 26.11.2024: China’s Police Are Preying on Small Firms in Search of Cash. With localities facing budget holes, the police are crossing provincial borders to collect fines and draining company treasuries. Businesses call it a shakedown.
Taxes
🇺🇸 USA: NPR, 26.11.2024: Trump has promised lower taxes. These are 3 ways it could impact you. On the campaign trail, Donald Trump promised to put more money back in Americans' pockets by cutting their taxes.
#legalnews
28.11-04.12.2024
Sanctions and Compliance
🇺🇸 USA: OFAC, 04.12.2024: Treasury Exposes Money Laundering Network Using Digital Assets to Evade Sanctions. OFAC and foreign partners disrupt the TGR Group, an international illicit finance network that enables Russian elites to circumvent U.S. and international sanctions.
🇺🇸 USA: BIS, 02.12.2024: Commerce Strengthens Export Controls to Restrict China’s Capability to Produce Advanced Semiconductors for Military Applications. BIS announced a package of rules designed to further impair the People’s Republic of China’s (PRC) capability to produce advanced-node semiconductors that can be used in the next generation of advanced weapon systems and in artificial intelligence (AI) and advanced computing, which have significant military applications.
Corporate Law
🇺🇸 USA: The Financial Times, 03.12.2024: Tesla loses bid to restore Elon Musk’s record $56bn pay package. Delaware judge rejects shareholders’ overwhelming reapproval of award for chief of electric-car maker.
International Investment Law:
🇺🇸 USA: The Financial Times, 03.12.2024: Sovereign investment dispute resolution is broken (for everyone except the lawyers, naturally). Once hailed as a more efficient means of resolving international investment disputes, arbitration has degenerated into an arcane, interminable, and freakishly expensive process. Except for the time and cost, it kind of works - if a country pays up. Most countries do. But it fails completely when governments refuse to satisfy awards or court judgments.
Citizenship Law
🇨🇾 СY: Cyprus Property News, 28.11.2024: Politis names revoked “Golden Passports” investors. The Greek language newspaper Politis published a list of 77 foreign investors whose golden passports were revoked.
Legal profession
🇬🇧 UK: Law.com, 03.12.2024: The Best Law Firms to Work For: The UK A-List, 2024. Nearly 100 of the largest firms operating in the U.K. were ranked by their revenue per lawyer, pro bono commitment, racial diversity, gender diversity and associate satisfaction to create this year's A-List.
#legalnews
Sanctions and Compliance
🇺🇸 USA: OFAC, 04.12.2024: Treasury Exposes Money Laundering Network Using Digital Assets to Evade Sanctions. OFAC and foreign partners disrupt the TGR Group, an international illicit finance network that enables Russian elites to circumvent U.S. and international sanctions.
🇺🇸 USA: BIS, 02.12.2024: Commerce Strengthens Export Controls to Restrict China’s Capability to Produce Advanced Semiconductors for Military Applications. BIS announced a package of rules designed to further impair the People’s Republic of China’s (PRC) capability to produce advanced-node semiconductors that can be used in the next generation of advanced weapon systems and in artificial intelligence (AI) and advanced computing, which have significant military applications.
Corporate Law
🇺🇸 USA: The Financial Times, 03.12.2024: Tesla loses bid to restore Elon Musk’s record $56bn pay package. Delaware judge rejects shareholders’ overwhelming reapproval of award for chief of electric-car maker.
International Investment Law:
🇺🇸 USA: The Financial Times, 03.12.2024: Sovereign investment dispute resolution is broken (for everyone except the lawyers, naturally). Once hailed as a more efficient means of resolving international investment disputes, arbitration has degenerated into an arcane, interminable, and freakishly expensive process. Except for the time and cost, it kind of works - if a country pays up. Most countries do. But it fails completely when governments refuse to satisfy awards or court judgments.
Citizenship Law
🇨🇾 СY: Cyprus Property News, 28.11.2024: Politis names revoked “Golden Passports” investors. The Greek language newspaper Politis published a list of 77 foreign investors whose golden passports were revoked.
Legal profession
🇬🇧 UK: Law.com, 03.12.2024: The Best Law Firms to Work For: The UK A-List, 2024. Nearly 100 of the largest firms operating in the U.K. were ranked by their revenue per lawyer, pro bono commitment, racial diversity, gender diversity and associate satisfaction to create this year's A-List.
#legalnews
05.12-11.12.2024
Sanctions and Compliance
🇺🇸 USA: ВВС, 09.12.2024: TikTok asks for emergency pause to looming US ban. TikTok has asked a court for an emergency injunction to prevent it becoming unavailable in the US next month. The US government passed a law demanding the app's sale or ban because of what it says are its links to the Chinese state - links TikTok and its parent company ByteDance deny.
🇺🇸 USA: www.worldecr.com, 05.12.2024: German industrial equipment company Aiotec GmbH has agreed to pay $14.55 million to settle potential civil liability for conspiring to cause a US company to sell and supply an Australian polypropylene plant to Iran, according to a 3 December announcement by the US Office of Foreign Assets Control (‘OFAC’).
🇪🇺 EU: www.bnnbloomberg.ca, 10.12.2024: Euroclear Warns of Liability Risk in Confiscating Russian Assets. Valerie Urbain, the chief executive officer of Euroclear Ltd., told Bloomberg in an interview that any plan to seize the underlying assets should also transfer all the liabilities.
AML Law
🇨🇾 СY: www.chambersandco.com, 09.12.2024: Cyprus Bans Cash Transactions Over €10,000. Under the newly enacted regime, all physical cash transactions that surpass the €10,000 threshold are now illegal with fines of up to 10% of the amount of the transaction. In the case of real estate transactions, in addition to fines, the court may impose a prison sentence of up to five years.
European Union law
🇳🇱 NL: www.schengen.news, 05.12.2024: Netherlands to Ask EU to Suspend Visa-Free Travel Agreement With Georgia. Dutch Foreign Affairs Minister Caspar Veldkamp has said that he would submit a formal request to the EU “to make it clear to the Georgian government the path they are taking comes with a price,” Schengen.News reports.
#legalnews
Sanctions and Compliance
🇺🇸 USA: ВВС, 09.12.2024: TikTok asks for emergency pause to looming US ban. TikTok has asked a court for an emergency injunction to prevent it becoming unavailable in the US next month. The US government passed a law demanding the app's sale or ban because of what it says are its links to the Chinese state - links TikTok and its parent company ByteDance deny.
🇺🇸 USA: www.worldecr.com, 05.12.2024: German industrial equipment company Aiotec GmbH has agreed to pay $14.55 million to settle potential civil liability for conspiring to cause a US company to sell and supply an Australian polypropylene plant to Iran, according to a 3 December announcement by the US Office of Foreign Assets Control (‘OFAC’).
🇪🇺 EU: www.bnnbloomberg.ca, 10.12.2024: Euroclear Warns of Liability Risk in Confiscating Russian Assets. Valerie Urbain, the chief executive officer of Euroclear Ltd., told Bloomberg in an interview that any plan to seize the underlying assets should also transfer all the liabilities.
AML Law
🇨🇾 СY: www.chambersandco.com, 09.12.2024: Cyprus Bans Cash Transactions Over €10,000. Under the newly enacted regime, all physical cash transactions that surpass the €10,000 threshold are now illegal with fines of up to 10% of the amount of the transaction. In the case of real estate transactions, in addition to fines, the court may impose a prison sentence of up to five years.
European Union law
🇳🇱 NL: www.schengen.news, 05.12.2024: Netherlands to Ask EU to Suspend Visa-Free Travel Agreement With Georgia. Dutch Foreign Affairs Minister Caspar Veldkamp has said that he would submit a formal request to the EU “to make it clear to the Georgian government the path they are taking comes with a price,” Schengen.News reports.
#legalnews
12.12-18.12.2024
Sanctions and Compliance
🇺🇸 USA: www.mayerbrown.com, 17.12.2024: EU adopts 15th package of restrictive measures. The 15th package against Russia, while mostly technical, imposes a significant number of additional asset freeze measures and other individual list-based sanctions, which evidence the EU’s reinforced willingness to use its designation powers as a tool against circumvention.
🇪🇺 EU: finance.ec.europa.eu, 11.12.2024: Frequently asked questions on circumvention and due diligence concerning sanctions adopted following Russia’s military aggression against Ukraine and Belarus' involvement in it.
Export Control Law
🇳🇱 NL: Statistics Netherlands, 10.12.2024: Possible circumvention of sanctions against Russia by newer, smaller firms. Goods exports from the Netherlands to Russia fell sharply following the tightening of sanctions by the European Union in 2022. At the same time, however, exports of sanctioned goods to seven countries with an elevated risk of sanctions circumvention increased.
AML Law
🇨🇾 СY: www.gov.uk, 10.12.2014: UK and Cyprus to tackle serious organised crime and Russian illicit finance in closer cooperation. The UK will support Cyprus in establishing a new National Sanctions Implementation Unit to crack down on illicit Russian finance flowing through Europe.
🇬🇧 UK: BBC, 13.12.2024: British trader found guilty of £1bn fraud. A British hedge fund trader has been sentenced to 12 years in prison in Denmark, after being found guilty of orchestrating a tax fraud that cost the Danish government more than £1bn.
#legalnews
Sanctions and Compliance
🇺🇸 USA: www.mayerbrown.com, 17.12.2024: EU adopts 15th package of restrictive measures. The 15th package against Russia, while mostly technical, imposes a significant number of additional asset freeze measures and other individual list-based sanctions, which evidence the EU’s reinforced willingness to use its designation powers as a tool against circumvention.
🇪🇺 EU: finance.ec.europa.eu, 11.12.2024: Frequently asked questions on circumvention and due diligence concerning sanctions adopted following Russia’s military aggression against Ukraine and Belarus' involvement in it.
Export Control Law
🇳🇱 NL: Statistics Netherlands, 10.12.2024: Possible circumvention of sanctions against Russia by newer, smaller firms. Goods exports from the Netherlands to Russia fell sharply following the tightening of sanctions by the European Union in 2022. At the same time, however, exports of sanctioned goods to seven countries with an elevated risk of sanctions circumvention increased.
AML Law
🇨🇾 СY: www.gov.uk, 10.12.2014: UK and Cyprus to tackle serious organised crime and Russian illicit finance in closer cooperation. The UK will support Cyprus in establishing a new National Sanctions Implementation Unit to crack down on illicit Russian finance flowing through Europe.
🇬🇧 UK: BBC, 13.12.2024: British trader found guilty of £1bn fraud. A British hedge fund trader has been sentenced to 12 years in prison in Denmark, after being found guilty of orchestrating a tax fraud that cost the Danish government more than £1bn.
#legalnews