Publication
Greece
The applicable legislation establishing a national screening mechanism for foreign direct investments (FDI) and implementing Regulation (EU) 2019/452 in Greece is Law 5202/2025, which was adopted on 22 May 2025 (Greek FDI Law).
Developments and market trends in the Middle East
Global | Publication | March 2017
Authors: Ola Al-Kadi
The UAE SEC has issued a new decision on the regulation of promotions and introductions
In January 2017, the UAE Securities and Commodities Authority (SCA) issued SCA Board of Directors Decision No. 3 RM of 2017 on the Regulation of Promotions and Introductions (the Regulations), which came into force in February 2017.
While some of the provisions of the Regulations require further clarification from the SCA, the issue of the Regulations is a significant step in the development of the UAE onshore regulatory regime, as it fills a legislative gap, and provides greater certainty for the UAE financial services industry and foreign stakeholders.
The Regulations principally cover
The Regulations prohibit
Where no exemption applies, an SCA-licensed promoter marketing a financial product will either need to give notice to the SCA or make an application to the SCA for approval, depending on the type of financial product being promoted.
In addition, the Regulations contain further specific provisions on the marketing of foreign funds onshore in the UAE, which aim to fill the legislative vacuum following the issue of SCA Board of Directors Decision No. 9 of 2016 on the Regulation of Investment Funds (Funds Regulations). The Regulations should therefore be read in conjunction with the Funds Regulations when considering the promotion of foreign funds onshore in the UAE. The Regulations impose additional requirements on a SCA-licensed promoter in respect of the marketing of foreign funds onshore in the UAE, which relate to both public offers and private placements of foreign funds.
The Regulations also confer on SCA broad sanctions/powers. These include warnings, fines, suspension and cancellation of a promoter’s licence or an introducer’s approval. The SCA also has the right under the Regulations to publish the names of persons that have breached any of the provisions of the Regulations.
Although these much-awaited Regulations provide greater certainty for the UAE financial services and foreign stakeholders, they do create some challenges for those interested in carrying out promotional activities onshore in the UAE.
Publication
The applicable legislation establishing a national screening mechanism for foreign direct investments (FDI) and implementing Regulation (EU) 2019/452 in Greece is Law 5202/2025, which was adopted on 22 May 2025 (Greek FDI Law).
Publication
The UK Government’s Department for Transport (the DfT) has published its Maritime Decarbonisation Strategy, setting out its plan for decarbonising maritime and new decarbonisation goals for the UK domestic maritime sector.
Publication
On 29 May 2025, in Finlayson v Caterpillar Financial Services Corp [2025] UKPC 24 (The Bahamas), the Judicial Committee of the Privy Council of the United Kingdom (the Privy Council) heard the appeal of Mr Garet O Finlayson and Mr Mark Finlayson (the Appellants) following the Supreme Court of the Bahamas and the Court of Appeal of the Bahamas finding in favour of the respondent, Caterpillar Financial Services Corporation (the Respondent).
Subscribe and stay up to date with the latest legal news, information and events . . .
© Norton Rose Fulbright LLP 2025