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Government Investigations in Singapore 2025
We have contributed the Singapore chapter of Getting the Deal Through, Government Investigations 2025.
Canada | Publication | April 2, 2024
On March 22, Global Affairs Canada (GAC) quietly updated its Frequently Asked Questions page about Canadian sanctions. The trade bar has regularly advocated for more guidance from GAC on Canadian sanctions laws over the last two years, especially on ambiguous provisions such as the deemed ownership provision, which can lead to different or uncertain interpretations. This lack of guidance exposes Canadian companies to risk and overcompliance, and is striking when compared to the much more robust guidance provided by the Office of Foreign Assets Control in the United States and Office of Financial Sanctions Implementation in the United Kingdom.
The update adds four new sections to the FAQ guidance that discuss:
The updated FAQs are not law, but they are indicative of GAC’s interpretation of sanctions. While the updated FAQs provide limited insight, they largely confirm GAC’s broad interpretation of the provisions. Most notably, GAC has taken the position that the facilitation offence provisions cover dealings with non-Canadian third parties that are themselves dealing with designated entities. That said, key ambiguities and questions remain, including on the deemed ownership provisions. Without further guidance, a conservative approach to the sanctions provisions is prudent.
Publication
We have contributed the Singapore chapter of Getting the Deal Through, Government Investigations 2025.
Publication
The private credit market and direct lending have grown and diversified immensely in the past decade, offering alternative sources and terms of debt compared to those historically provided by the syndicated leveraged loan and public issuance markets. Consequently, they are fast becoming pivotal components in the capital ecosystem, so much so that the Bank of England consider that the private credit market is currently responsible for approximately $1.8 trillion of debt issuance, which is four times its size in 2015. This growth has been particularly pronounced in Europe and the US but there has also been significant activity in Asia.
Publication
The EU’s Artificial Intelligence Regulation, commonly referred to as the AI Act, is expected to come into force during the summer of 2024 (the AI Act). The AI Act will be the first comprehensive legal framework for the use and development of artificial intelligence (AI), and is intended to ensure that AI systems developed and used in the EU are safe, transparent, traceable, non-discriminatory and environmentally friendly.
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