Publication
Arbitration trends in the Middle East: What to expect in 2024 and beyond
The last several years have seen rapid growth in the Middle East.
United Kingdom | Publication | January 2024
On January 10, 2024, the Regulator confirmed that its long-awaited new General Code had been finalised and laid before Parliament. It should come into force on March 27, 2024. Schemes are required to have an effective system of governance (ESOG) in place, which includes developing a risk management function and a remuneration policy. Schemes with 100 or more members will also need to develop an own risk management (ORA) system, which will assess the effectiveness of the ESOG and aim to mitigate potential risks to the scheme.
The content of the finalised Code is largely the same as that in the original draft published in March 2021, with some keys changes as set out below:
For more information, please see our previous briefings linked below. These will be updated to include the changes outlined above.
Turning up the heat on compliance, July 2022.
Subscribe and stay up to date with the latest legal news, information and events . . .
© Norton Rose Fulbright LLP 2023