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Legal changes and developments are detailed in our regular newsletters and articles to keep you informed and up-to-date.

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46-2! Apology Legislation passed in Hong Kong

21 July 2017

Following our update in the April 2017 edition of our Medical Law Brief – the Legislative Council of the Hong Kong Special Administrative Region passed the long-awaited Apology Legislation Bill on 13 July 2017 - with 46-2 votes in favour.

DFSA flexes its muscles – a warning to DIFC insurance intermediaries

20 July 2017

The Dubai Financial Services Authority (DFSA) has fined the former SEO of a DFSA-authorised firm (the Company) US$52,500 and banned him from providing financial services in or from the Dubai International Financial Centre (DIFC). These sanctions stem from the SEO’s personal involvement in facilitating insurance for customers based in the UAE but outside of the DIFC.  This investigation demonstrates the DFSA’s continued rigour as a prudential regulator of the DIFC and serves as a salutary warning to others.

Notes from the bar: BIMCO SUPPLYTIME 2017

18 July 2017

BIMCO’s Documentary Committee recently adopted the revised SUPPLYTIME 2017, thereby bringing the popular standard form charterparty for offshore support vessels (“OSVs”) more in line with current practices in the offshore sector.

In this update, we would briefly explain some of the key differences between SUPPLYTIME 2017 and its predecessor SUPPLYTIME 2005. 

 

FFI scheme – HSE consult on dispute resolution process

14 July 2017

By Regulation 24(5) of the Health and Safety and Nuclear (Fees) Regulation 2016, the Secretary of State granted the Health and Safety Executive (HSE) the duty and power to create a procedure to resolve disputes in relation to the fees it may claim under these regulations.

In the frame: the introduction of a regulatory cyber security framework for Indian insurers

14 July 2017

The Indian insurance sector has historically been highly regulated. Despite this, until recently, there were no specific regulatory norms prescribed by the Insurance Regulatory and Development Authority of India (IRDAI) pertaining to protection of information and data received and created by insurers.

46-2! Apology Legislation passed in Hong Kong

21 July 2017

Following our update in the April 2017 edition of our Medical Law Brief – the Legislative Council of the Hong Kong Special Administrative Region passed the long-awaited Apology Legislation Bill on 13 July 2017 - with 46-2 votes in favour.

DFSA flexes its muscles – a warning to DIFC insurance intermediaries

20 July 2017

The Dubai Financial Services Authority (DFSA) has fined the former SEO of a DFSA-authorised firm (the Company) US$52,500 and banned him from providing financial services in or from the Dubai International Financial Centre (DIFC). These sanctions stem from the SEO’s personal involvement in facilitating insurance for customers based in the UAE but outside of the DIFC.  This investigation demonstrates the DFSA’s continued rigour as a prudential regulator of the DIFC and serves as a salutary warning to others.

Notes from the bar: BIMCO SUPPLYTIME 2017

18 July 2017

BIMCO’s Documentary Committee recently adopted the revised SUPPLYTIME 2017, thereby bringing the popular standard form charterparty for offshore support vessels (“OSVs”) more in line with current practices in the offshore sector.

In this update, we would briefly explain some of the key differences between SUPPLYTIME 2017 and its predecessor SUPPLYTIME 2005. 

 

FFI scheme – HSE consult on dispute resolution process

14 July 2017

By Regulation 24(5) of the Health and Safety and Nuclear (Fees) Regulation 2016, the Secretary of State granted the Health and Safety Executive (HSE) the duty and power to create a procedure to resolve disputes in relation to the fees it may claim under these regulations.

In the frame: the introduction of a regulatory cyber security framework for Indian insurers

14 July 2017

The Indian insurance sector has historically been highly regulated. Despite this, until recently, there were no specific regulatory norms prescribed by the Insurance Regulatory and Development Authority of India (IRDAI) pertaining to protection of information and data received and created by insurers.