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Europe steps up its fight against fraud
European watchdogs have long been focusing on enforcement against corporate crime with a great focus on anti-corruption, economic sanctions and money laundering.
Global | Publication | May 2014
The China (Shanghai) Pilot Free Trade Zone Arbitration Rules (the SFTZ Rules) published by the Shanghai International Economic and Trade Arbitration Commission (SHIAC).
SHIAC (also known as the Shanghai International Arbitration Centre) was previously the Shanghai subcommission of CIETAC, the most well-known of the Chinese arbitration commissions. However, as reported in issue 1, it recently broke away from CIETAC following the publication of new CIETAC arbitration rules in 2012. The issue of the SFTZ Rules, which took effect on May 1, 2014, therefore reinforce SHIAC’s new independence from CIETAC.
Highlights of the SFTZ Rules include
It is also disappointing that, in the absence of party agreement, the default language of proceedings is Chinese.
Parties can also apply to SHIAC to constitute an emergency tribunal (of one arbitrator appointed by SHIAC from its list) during the period between the acceptance of a case and the constitution of the tribunal.
This process may not be very familiar to readers outside of Asia, but it is commonly employed in China, in particular for small-value claims.
Publication
European watchdogs have long been focusing on enforcement against corporate crime with a great focus on anti-corruption, economic sanctions and money laundering.
Publication
The Digital Markets, Competition and Consumers Act (DMCC Act) received Royal Assent on 24 May 2024 and is generally expected to come into force in autumn this year.
Publication
Head of Legal Operations, Stephanie Hamon, will be joining the panel discussion on "Simplifying Legal Tech Adoption and Implementation" at the Legal Tech Talk conference on June 13th (3:30 - 4:15 PM).
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