Category: Middle East

Legal Newsletter: Saudi and Global Competition Law

April 27, 2016

It is our pleasure to introduce to you our Legal Newsletter’s first issue of 2016, which focuses on Competition Law in the Kingdom of Saudi Arabia, as well as global competition law, to keep our clients and readers abreast of the latest developments in the different areas of the law. Competition is an essential economic driver for any nation, as it contributes…

Legal Trends 2016: International Trade

February 27, 2016

ONE | TPP, FREE TRADE AND INVESTMENT AGREEMENT While 2015 saw numerous international trade and investment developments, the year’s biggest story was the October completion of negotiations on the Trans-Pacific Partnership (TPP). The TPP is an ambitious economic and free trade agreement between Canada and 11 other countries — including the United States, Australia and Japan — who represent one-third…

A Dispute about Disputes: The Gathering Storm over ISDS

November 6, 2015

Investor-State Dispute Settlement (ISDS) is a mechanism that is included in many regional and bilateral free trade agreements, as well as in bilateral and multilateral investment agreements. In general terms, the ISDS mechanism allows investors of a party to an international agreement to take direct legal action — in the form of international arbitration — against the government of another…

SAGIA Simplifies FDI Process

November 6, 2015

The Saudi Arabian General Investment Authority (SAGIA) has recently engaged in a transparent program of renewed self-assessment, dialogue and adjustment in order to ensure that the Kingdom’s foreign investment regulations remain competitive while addressing the development goals of the Kingdom. This program has already resulted in the announcement of several new important reforms designed to streamline the foreign investment licence…

Anti-Bribery Compliance Programs

June 4, 2015

The most effective way for companies to manage corruption risk and eliminate or reduce liability under anti-bribery laws is to implement a corporate anti-bribery compliance program. It should be tailored to a company’s business and to the risks associated with that business, in particular the foreign bribery risks facing the company (such as its geographical and industrial sector of operation)….

Extraterritorial Reach of Anti-Corruption Laws on Corporations and Persons in the Gulf

June 3, 2015

Introduction The extraterritorial reach of the U.S. Foreign Corrupt Practices Act (FCPA), the UK Bribery Act (UKBA) and the Canadian Corruption of Foreign Public Officials Act (CFPOA) is broad and can easily ensnare individuals and corporations conducting business in the GCC region who may assume that they are not subject to such laws. That wrong assumption can result in severe…

Navigating the Minefield: Practical Considerations for Conducting Internal Investigations

June 2, 2015

INTRODUCTION The reality of today’s business landscape is that no industry is entirely isolated from incidents of bribery or corruption. Accordingly, corporations should ensure they have appropriate procedures in place to conduct properly scoped and designed internal investigations when such issues surface. A recent New York Times exposé regarding a corruption-related internal investigation undertaken by a Fortune 500 company is…