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LexisNexis MENA and DIFC Academy Strengthen Strategic Partnership with the Launch of Two New Technology Initiatives

29/07/202003/08/2020
by Benjamin Filaferro

Dubai, UAE, 29 July 2020 – LexisNexis MENA and the DIFC Academy are strengthening their strategic partnership with two new initiatives: “The Annual Technology Adoption Index” and “The Legal Tech Glossary.”

These projects follow five years of fruitful collaboration, including the publication of the official DIFC Law Commentaries and Law Reports book collections. Through a joint training programme, LexisNexis MENA and the DIFC Academy have co-hosted hundreds of courses and trained thousands of legal practitioners in all areas of law.

Annual Index: The first edition of the Annual Index of Technology Adoption in Dubai’s Legal Industry will be published in October 2020. The index will measure the implementation of legal technology within law firms and in-house legal teams, and will be updated annually.

The Legal Tech Glossary: In order to increase awareness of the impact of machine learning, smart contracts, and technology tools on the practice of law in Dubai, key terms and concepts will be defined and made accessible.

Alya Al Zarouni, Executive Vice President of Operations and Head of DIFC Academy, DIFC Authority said: “During the last five years, DIFC Academy and LexisNexis have collaborated on projects which support the continued professional development for legal practitioners within and outside the Centre. It is more important than ever to prioritise technology and innovation in order to effectively increase financial and legal sector diversification and contribute to a competitive knowledge-based economy. We look forward to working in closer co-operation with LexisNexis to drive the legal sector adoption of technology and innovation.”

“We are very proud to have built the largest legal and tax information platform in the region. The Lexis(r) Middle East solution has revolutionized access to the law for all practitioners. LexisNexis is also a major global player in LegalTech and we believe that artificial intelligence will continue to have a big impact on the practice of law in the years ahead. Our strengthened partnership with the DIFC Academy will enable us to better understand local market trends and facilitate access to knowledge for the entire legal community in Dubai. It is an honour for us to have the confidence of a prestigious and influential player such as the DIFC Academy,” said Guillaume Deroubaix, Managing Director of LexisNexis Middle East and North Africa.

The objective of the partnership is to strengthen the services and the sharing of knowledge offered to the legal community in Dubai in the next few years in order to bring it to the level of excellence that Dubai’s standards require.

LexisNexis Legal & Professional is a leading global provider of legal, regulatory and business information and analytics that helps customers increase productivity, improve decision-making and outcomes, and advance the rule of law around the world.

The company combines information and analytics to help lawyers manage their work more efficiently, serve their clients better and grow their practices and assists corporations in better understanding their markets.

LexisNexis is a part of RELX Group, serving customers in more than 130 countries with 10,000 employees worldwide. The company’s information network contains 3 petabytes of legal and news data with 65 billion documents.

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News developments

Abu Dhabi Global Market Issues Commercial Licensing Regulations 2015 (Exemptions) Order 2020

25/07/202024/07/2020
by Benjamin Filaferro

The Abu Dhabi Global Market Board have issued the Commercial Licensing Regulations 2015 (Exemptions) Order 2020. The Order grants an exemption from commercial licensing for certain classes of entities which are licensed in the UAE, outside the Global Market. The exemption applies in particular to temporary service providers in transportation like scooter rentals, delivery services and pick up or drop off services.

Weekly Spotlight

UAE: Identity and Citizenship Decisions Approved

20/07/202020/07/2020
by Benjamin Filaferro

The UAE’s Cabinet has approved various identity and citizenship amendments. The decisions include suspending the decisions related to the residency of expatriates, visas, entry permits and identity cards valid from 11 July 2020.

The Federal Authority for Identity and Citizenship has been authorised to start collecting the fees owed for services it provides from 12 July 2020. The Cabinet also approved a one-month grace period for UAE nationals and GCC nationals and residents who have spent less than six months abroad to renew their documents.

Weekly Spotlight

UAE: Energy and Infrastructure Ministries Merged

12/07/202010/07/2020
by Benjamin Filaferro

The UAE’s Prime Minister has announced a Government restructuring, which will see the Energy and Infrastructure Ministries merged. The merged Ministry will be led by the country’s current Energy Minister. They have been given a year to achieve new targets. The head of Abu Dhabi’s national oil company ADNOC, Sultan al-Jaber, has been appointed Industry and Advanced Technology Minister and Abdullah al-Marri has been appointed Economy Minister.

A Minister of State for Digital Economy, Artificial Intelligence and Teleworking Applications position has been created and Omar Al-Ulama has been appointed to the position.

A new UAE Government Media Office will also be established while the National Media Council and the Federal Youth Authority will be merged into the Culture Ministry. The General Pension and Social Security Authority will be merged with the Community Development Ministry, the National Qualifications Authority will be merged with the Education Ministry and the Insurance Authority will be merged with the Securities and Commodities Authority.

In addition, half of Government service centres will be abolished and converted into digital platforms within two years. Finally, half of federal agencies will be merged with each other or in ministries. The moves follow an announcement of restructuring last month.

Weekly Spotlight

Weekly Spotlight: Economic Substance Regulation Notification in the UAE Must be Submitted by 30 June

27/06/202026/06/2020
by Benjamin Filaferro

The UAE’s Finance Ministry has announced all companies in the UAE who engaged in relevant activities up to and including 31 December 2019 must submit a notification of Economic Substance Regulations to its Regulatory Authority by 30 June 2020 to avoid administrative activities. Banking, insurance, investment fund management, financial leasing, headquarters and shipping operations, holding and intellectual property companies, distribution and service centres are all considered relevant activities. The definition of each of these activities can be found in the relevant activities guide on the Ministry’s website. The implications of Coronavirus on Relevant Activities which were directly affected by Government restrictions including travel bans, self-isolation measures, social distancing etc will be taken into account when assessing whether a UAE-licensed company has met the Economic Substance Regulations test for the relevant period.

Weekly Spotlight

Abu Dhabi: Safe Handling of Food Guidelines Issued

13/06/202012/06/2020
by Benjamin Filaferro

Abu Dhabi’s Agriculture and Food Safety Authority has issued guidelines on how to deal with food safely during the Coronavirus pandemic. The guidelines target food outlets, food delivery services and consumers and contain various sections including personal health and managing operations in health entities. They also include provisions on managing delivering and receiving food orders, receiving food meals and instructions for consumers. The aim is to clarify the anti-Coronavirus measures to be taken by food outlets as well as boost health practices by consumers to limit the risk of infection and increase health standards throughout society. The guidelines are available in Arabic, English and Urdu.

News developments

DIFC: Group Health Scheme for Registered Firms

08/06/202008/06/2020
by Benjamin Filaferro

The Dubai International Financial Centre (DIFC), has signed a memorandum of understanding (MoU) with EC3 Brokers to implement a Group Health Insurance Master Policy. The Group Health scheme will be available to over 2,400 active registered firms in DIFC who provide health insurance for mandatory health cover to their 25,600 staff and their dependents. As part of the agreement, EC3 Brokers will act as an intermediary to facilitate the tendering process to shortlist the insurer and the third party administrator contractual partners in the UAE. Criteria will be agreed by both DIFC and EC3 Brokers. The idea is to reduce costs for firms operating in the DIFC.

Weekly Spotlight

Weekly Spotlight: New DIFC Data Protection Law Enacted

08/06/202008/06/2020
by Benjamin Filaferro

The Ruler of Dubai has enacted the new DIFC Data Protection DIFC Law No. 5/ 2020. The new law will come into effect from 1 July 2020 and current DIFC Data Protection Law, DIFC Law No. 1/2007, will remain in effect until this date. New DIFC Data Protection Regulations which set out the procedures for notifications to the Commissioner of Data Protection, accountability, record keeping, fines and adequate jurisdictions for cross-border transfers of personal data have also been issued.

The DIFC’s updated Data Protection Law and Regulations set out expectations for Controllers and Processors in the DIFC on several key privacy and security principles. The Data Protection Law combines the best practices from a variety of current, global data protection laws, including the EU’s General Data Protection Regulation (GDPR), the California Consumer Privacy Act and other advance technology agnostic concepts. They will enable DIFC to continue to build upon the Centre’s reputation as a leading global financial centre while also promoting ethical data sharing. The new Data Protection Law and Regulations provide a framework that will support DIFC’s bid for adequacy recognition by the European Commission, the UUK and other jurisdictions, easing data transfer compliance requirements for DIFC businesses.

The changes legislate for accountability of Controllers and Processors through compliance programmes requirements, appointing data protection officers where necessary, conducting data protection impact assessments and imposing contractual obligations that protect individuals and their personal data. Enhanced rights of individuals are clarified in terms of data usage by entities that collect and manage personal data, including contractual clarity on such rights when engaging with vendors of emerging technologies, such as Blockchain and Artificial Intelligence (AI). Permit options for cross-border data transfers and special category personal data processing have been removed. The new Law and Regulations include appropriate data sharing structures between government authorities, which represent a key step forward in data sharing standards within the UAE and the region.

General fines for serious breaches of the Law, in addition to or instead of administrative fines, and ncreased maximum fine limits, have been introduced. In light of the current global pandemic, while DIFC Law No. 5/ 2020 will be effective from 1 July 2020, businesses to which it applies have a grace period of three months, until 1 October 2020, to prepare to comply with it, after which it becomes enforceable.

News developments

UAE: New draft movable assets law

29/05/202029/05/2020
by Benjamin Filaferro

The UAE’s Federal National Council has approved a draft movable assets law. If approved further, it will repeal Federal Law No. 20/2016 on the Mortgage of Moveable Property to Secure Debt. It will now apply to tangible and intangible assets as well as existing and future assets. In addition, it will cover rights to claim payments on funds deposited with financial institutions and give a right to enforce obligations of counterparties under a contract. Receivables, credit balances with banks and other financial institution, written instruments transferable by delivery or endorsement, including commercial papers like promissory notes, bank certificates and bills of lading, vehicles and equipment will also be covered. Animals, animal products and agricultural crops will be covered by the law as well. However, movable assets which guarantee wage rights, worker benefits, public funds, endowment funds and funds held by diplomats and consulates and international government organisations are not covered by the draft law. ‘Secured obligations’ will be required, which will include all current and future obligations of the debtor or borrower. An upper limit of the amount secured will have to be provided and this threshold will be laid out in subsequent legislation. Under the law, a ‘security interest’ will be enforceable against third-parties and have priority over other debts. The first security interest registered will have priority over later ones. A new Register for Rights Over Movable Assets will be established and the Finance Minister will recommend the assets which should be added to this Register. Anyone who violates the law will be jailed and/or fined 60,000 AED.