Based on a survey of more than 300 corporate leaders and legal advisers who handle transactions, along with insight from Baker McKenzie compliance, antitrust and corporate partners, the latest Baker McKenzie report assesses the challenges and risks that regional and multinational organizations face in relation to compliance due diligence (CDD) across both M&A and JVs.
In the past year the United Arab Emirates (UAE) has witnessed a number of important developments in the area of compliance and financial crime which will have a significant impact on the risk exposure of companies operating in the UAE for the foreseeable future. Over time, collectively, these changes will have a profound impact on the compliance environment in the UAE, particularly as it relates to financial crimes, and companies can no longer approach compliance issues casually.
Over the past week, various reports from news outlets and other sources have suggested that some of the restrictions on the movements of goods between the United Arab Emirates (UAE) and Qatar imposed by the UAE, Saudi Arabia, Bahrain and Egypt (Boycotting States) in June 2017 as part of the boycott on Qatar have been partially lifted.
In the autumn of 2017, we spoke with more than 500 UK multinationals about their attitudes to compliance. This year, for the second edition of Connected Compliance we have expanded our research internationally, gathering data from 800 business leaders across the US, Canada, Brazil, Hong Kong, China, Spain and Germany.
The United Arab Emirates (UAE) has issued Federal Law No. 20 of 2018 on Anti-Money Laundering (the AML Law), which boosts the UAE’s commitment to international laws and treaties and establishes a legal framework to further combat money laundering and financing of terrorism and other illegal organisations.