Recent Articles

•  

  08.12.2023

  International

  COP28 Update – 8 December 2023

  COP28 has seen a host of pledges and agreements, and the CMS team has been reflecting on the announcements and sharing their experiences of COP28 on the CMS COP28 Hub. Here, we roundup the latest commentary from our team at COP28.  CMS CommentaryKey takeaways from Energy Day at COP28As a young professional in the legal field, attending COP28's Energy Day was an eye-opening experience that provided valuable insights into the future of environmental policies and their potential impact. Day 6 of COP28 showcased a collective determination to address the pressing challenges of our time. The discussions...

  Read more
•  

  08.12.2023

  Belgium

  Belgium to tighten Cayman tax in 2024

  FR

  A new law aimed at significantly tightening the Cayman tax was recently tabled in the Belgian parliament. The Cayman tax “version 2.1” reform, which is designed to remedy the shortcomings identified by the Court of Auditors in a report published in April 2023, may come into force on 1 January 2024, giving taxpayers impacted by the legislation little time to react.How the Cayman tax worksThe Cayman tax is a tax measure designed to combat tax evasion by Belgian residents who hold “legal constructions” established abroad (e.g. a trust or untaxed foreign company with legal personality).Belgian...

  Read more
•  

  08.12.2023

  United Kingdom

  Proposed changes to the UK’s immigration system

  This week, in an attempt to “slash migration levels and curb abuse of the immigration system”, the Home Secretary announced proposals which set out a number of reforms to the UK’s immigration rules and visa procedures. The majority of proposals are set to come into force in early Spring 2024, with the exception of the Immigration Health Surcharge increase, which will take effect on 16 January 2024.In this Law-Now we consider some of the proposed upcoming changes and the potential impact of these on recruitment practices going forward.Skilled Worker visas – minimum...

  Read more
•  

  08.12.2023

  International

  COP28: Global Health Under the Spotlight

  Health took centre stage at the first ever ‘Health Day’ at COP28 on 3 December. The program focused the attention of world leaders on the profound public health-related issues stemming from climate change. Rising temperatures, extreme weather events, and changing ecosystems contribute to the increase of respiratory and water borne diseases, food insecurity and water scarcity around the world. Data reported indicates that annual deaths from polluted air reached almost 9 million and 189 million people are exposed to extreme weather-related events each year. The inclusion of a Health Day...

  Read more
•  

  07.12.2023

  Middle East, UK

  COP28 Update – 7 December 2023

  COP28 has seen a host of pledges and agreements, and the CMS team has been reflecting on the announcements and sharing their experiences of COP28 on the CMS COP28 Hub. Here, we roundup the latest commentary from our team at COP28.  CMS CommentaryFunding + reskilling + data + consumer engagement = energy transition success?A roundup of the engaging and motivating discussion at the COP28 Energy Leaders Roundtable Dinner, discussing funding, the opportunities that reskilling brings, the role of data and the importance of consumer engagement in driving the energy transition.Read more here: Funding...

  Read more
•  

  07.12.2023

  United Kingdom

  FCA’s Consultation Paper on Implementing the Overseas Funds Regime (“OFR”)

  On 4 December, the FCA launched a consultation to implement the framework to enable non-UK domiciled funds to be marketed to UK retail investors under the OFR (“OFR recognised schemes”). We briefly summarise the FCA's proposals.Who does this impact?Operators of non-UK domiciled funds that either are within the Temporary Marketing Permissions Regime (“TMPR”), or who wish to market non-UK funds to UK retail investorsLux and Irish UCITS funds are commonly invested in by UK retail investors and so this will also be of real relevance to operators of those fundsUK Distributors...

  Read more