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US/Ukraine minerals deal: Digging into the detail
The United States and Ukraine governments have announced the signature of an agreement of a minerals deal for Ukraine.
Middle East | Publication | February 2024
On 23 February 2024, the UAE was removed from the Financial Action Task Force’s (FATF) list of “Jurisdictions under Increased Monitoring”, the so-called “grey list”. The UAE has been on the grey list since its inclusion on 4 March 2022.
FATF, the global anti-money laundering watchdog, had added the UAE to its grey list due to “strategic deficiencies” in the country’s efforts to counter money laundering and terrorist financing. Removal from the grey list required the UAE to fully implement the recommendations set out in the FATF’s action plan that was issued following the FATF’s 2020 Mutual Evaluation of the UAE.
At its October 2023 plenary meeting, the FATF recognised that the UAE had taken various actions to improve its overall AML/CFT compliance. On a regulatory level, the UAE has implemented several key reforms since its inclusion on the grey list, including:
The UAE’s financial service regulators have also shown an increased willingness to investigate and take enforcement actions in relation to money laundering in line with the country’s risk profile. On the ground, we have seen a large increase in the number of enforcement actions related to AML deficiencies.
The FATF’s decision is a welcome recognition of the UAE’s concerted effort to enhance its AML/CFT framework. Given the UAE’s position as major international and regional financial centre and trading hub, its removal from the grey list is a significant step.
The outcomes of the FATF Plenary session can be found here.
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The United States and Ukraine governments have announced the signature of an agreement of a minerals deal for Ukraine.
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This newsletter will keep employers up to date on Canadian employment and labour developments and best practices.
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In this edition we provide a reminder of the main provisions and implications of the Terrorism (Protection of Premises) Act 2025 since its Royal Assent, and discuss the potential for a long-awaited strategic shift for infrastructure projects following the formation of the National Infrastructure and Service Transformation Authority. We also discuss the outcome and significance of an interesting court of appeal case considering boundary agreements and provide an update on recent tax events affecting the real estate sector.
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