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  19.09.2023

  International

  Trading of crypto-as­sets in detail

  The Markets in Crypto-Assets Regulation (MiCAR) sets down a harmonised regulatory framework for service providers known as crypto-asset service providers (CASPs), which carry out activities with crypto-assets that fall within the regulation's scope. The following article describes the MiCAR requirements applicable to persons providing services related to crypto-asset trading.DefinitionMiCAR introduces enhanced legal requirements that will apply to service providers carrying out professional activities related to trading crypto-assets. The crypto-assets trading activities that MiCAR identifies as...

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  11.09.2023

  International

  CMS Annual Review of English Construction Law De­ve­lop­ments: An In­ter­na­tio­nal Perspective

  We are pleased to announce the publication of the 2023 edition of our internationally focused Annual Review of English Construction Law Developments. Now in its thirteenth year, the Annual Review summarises key developments in English construction law over the previous calendar year including developments in related common law jurisdictions. The publication has been prepared with our international clients in mind and aims to provide a greater degree of background and analysis than our regular Law-Now alert service.This year’s edition contains a strong focus on the FIDIC form, with new amendments,...

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  05.09.2023

  International

  Deep sea mining: navigating in murky waters

  On 9 July 2023, the latest deadline for finalising the draft exploitation regulations for deep sea mining in international waters expired without agreement.1 This deadline resulted from a letter from the pacific state of Nauru in 2021 stating an intention to apply for approval of a ‘plan of work’ for exploitation of deep sea minerals. The letter triggered a sub-clause within the Agreement relating to the implementation of Part XI of the United Nations Convention on the Law of the Sea of 10 December 1982, (“the 1994 Implementing Agreement”) which gave the International...

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  30.08.2023

  International

  CBAM Implementing Regulation and Extensive Additional Reporting Guidance Published

  Earlier this month, the European Commission (“EC”) adopted an Implementing Regulation (“IR”) and released extensive Guidance Documents (“Guidance”) on the practicalities of reporting requirements for the transitional phase of the EU’s Carbon Border Adjustment Mechanism (“CBAM”) framework. This first material phase of CBAM will commence on October 1, 2023 (“Transitional Period”). The Guidance complements the IR in providing vital instructions for both installation operators (exporters) outside the EU and importers of CBAM goods within...

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  23.08.2023

  Asia-Pacific

  APAC TMC Update – Summer 2023

  ASEANASEAN and EU release joint guide to ASEAN MCCs and EU SCCsOn 24 May 2023, the Association of Southeast Asian Nations (ASEAN) and European Union (EU) released a Joint Guide to the ASEAN Model Contractual Clauses (MCCs) and EU Standard Contractual Clauses (SCCs) to assist businesses operating in ASEAN and the EU with their compliance with applicable laws for international data transfers in both regions.The ASEAN MCCs are a baseline set of contractual clauses that can be adopted by data exporters and importers in all ASEAN member states and may be modified or supplemented to the extent that they...

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  21.08.2023

  International

  Pre-pack sale proceedings in Croatia and the impact of the EU’s insolvency law Draft Directive

  In late 2022, the European Commission proposed a new Directive with a view to harmonise certain aspects of insolvency law. One of the most important innovations to be introduced in this Draft Directive is pre-pack proceedings.What is a pre-pack sale?In essence, pre-pack proceedings are expedited liquidation proceedings that allow for the sale of the business of a debtor, in whole or in part, as a going-concern to the best bidder with a view to liquidating the assets of the debtor due to the business’s insolvency.The Draft Directive is intended to expand the legal systems of EU member states...

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