🇦🇪UAE Legal News

The Central Bank of Nigeria (CBN) has voiced significant concerns over provisions in the Investment and Securities Bill 2024, warning that some of the proposed powers for the Securities and Exchange Commission (SEC) may conflict with existing money laundering laws and could lead to operational clashes between the two entities. At a public hearing in …

CBN Raises Concerns Over New SEC Powers in Proposed Investment Bill Read More »

Saudi authorities have detained 20,778 individuals across the Kingdom in a sweeping operation to enforce residency, border, and labor laws. This intense week-long crackdown, conducted in collaboration with various government agencies, underscores the Kingdom’s commitment to curbing unauthorized stays and illegal border crossings. The detainees include 11,523 individuals violating residency regulations, 5,711 in breach of …

Sweeping Crackdown: Saudi Forces Detain Over 20,000 in Nationwide Operation Targeting Illegal Residency Read More »

In a landmark move to tackle global crime, Saudi Arabia and Uzbekistan have signed a memorandum aimed at intensifying cooperation on complex criminal investigations. Saudi Attorney General Sheikh Saud Al-Mujib met Uzbekistan’s Prosecutor General Nigmatilla Yuldashev in Tashkent, where the two nations sealed an agreement with a sharp focus on tackling terrorism, its funding, and …

A New Alliance Against Crime: Saudi and Uzbek Prosecutors Forge Path for Cross-Border Justice Read More »

In a swift move to protect the natural landscape, Kuwait Municipality dismantled 23 unauthorized camps that had sprung up in the northern region ahead of the official camping season. This action came as part of a targeted effort by the Al-Jahra supervision team, which acted quickly to bring unapproved camps into compliance with seasonal regulations. …

Kuwait Clears Illegal Campsites as Camping Season Nears Read More »

In a significant development, India’s financial crime agency has launched a series of raids on the offices of select sellers operating through Amazon and Flipkart. The operation, which spans across New Delhi, Mumbai, and Bengaluru, is part of an ongoing investigation into suspected violations of foreign investment regulations, according to multiple government sources. The raids …

India Targets E-Commerce Giants with Raids on Amazon and Flipkart Sellers Read More »

In a decisive move against financial misconduct, Saudi Arabia’s Capital Market Authority (CMA) has levied significant fines and imposed jail terms on three executives from Abdullah A. M. Al-Khodari Sons Co. for serious violations of the Capital Market Law. The penalties come as part of the CMA’s crackdown on improper financial reporting and market manipulation. …

Saudi Market Authority Cracks Down on Financial Manipulation with Fines and Jail Sentences Read More »

In a decisive move to protect financial integrity, the Dubai Financial Services Authority (DFSA) has fined Vedas International Marketing Management (Vedas Marketing) $100,000 (AED 367,000) for promoting financial products in an unauthorised and misleading manner. Vedas Marketing drew the DFSA’s ire for promoting Multibank Group’s services without permission to people within the Dubai International Financial …

UAE Regulator Slams Company with Heavy Fine for Misleading Financial Claims Read More »

Ibri, Dhahirah — In a sweeping move to uphold business integrity and consumer convenience, the Department of Commerce, Industry, and Investment Promotion (MoCIIP) in Oman has launched an intensive inspection campaign across Dhahirah. This operation focused on ensuring that shops, restaurants, and cafés adhere to electronic payment regulations, a vital step towards enhancing transparency and …

Oman Cracks Down on Hidden Trade in Dhahirah with Targeted Inspections Read More »

In a bold move against corruption, Saudi Arabia’s Oversight and Anti-Corruption Authority (Nazaha) has unveiled a sweeping investigation targeting five key government agencies, including the Ministry of Interior, Ministry of Justice, the National Guard, the Ministry of Municipalities and Housing, and the Zakat, Tax, and Customs Authority. The initiative, which gained momentum throughout October, has …

Saudi Arabia Launches Major Anti-Corruption Sweep, Detaining 121 Officials Read More »

In a pivotal moment for Tesla and its shareholders, a Delaware judge has announced intentions to deliver a ruling on Elon Musk’s unprecedented $56 billion compensation package before the year wraps up. Chancellor Kathaleen McCormick of the Delaware Court of Chancery communicated her goal in a recent letter to the involved legal teams. Musk’s 2018 …

A Final Verdict Approaches: Judge Set to Rule on Musk’s Massive $56 Billion Tesla Compensation Read More »