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Cyprus's new law on alternative investment funds, Law 124(I)/2018, has now entered into effect following its publication in the official gazette.

An amendment to the act on employment services came into force on May 1 2018, substantially simplifying the process of hiring third-country nationals (TCNs). The amendment establishes simplified conditions for hiring TCNs in selected professions with a documented shortage of qualified labour in districts with an average registered unemployment rate of less than five percent. In these situations, in the process of granting temporary residence permits for employment purposes, the employment offices are no longer required to review the job market to determine whether Slovak or EU nationals can be considered first to fill vacancies. Likewise, the vacancies for which there is a labour shortage need not be advertised on the official jobs bulletin board at the Labour Office, in print or on the internet.

The settlement of a recent financial services regulatory enforcement action by the Central Bank of Ireland (CBI) highlights the interconnectedness of regulatory breaches. In brief, a failure of controls and policies can create a domino effect which triggers liabilities under the anti-money laundering/counter terrorist financing (AML/CTF) regime, client asset requirements and a finding that key frontline personnel are not fit and proper for their role.

Fourteen years after the launch of the Mainland and Macau Closer Economic Partnership Arrangement (CEPA) in 2004, the economic and trade cooperation between mainland China and Macau continues to be strengthened and enriched. Since 2016, a series of amendments have been introduced to CEPA to improve and update the existing provisions, in particular in the fields of trade services, trading of goods, investment and economic and technical cooperation.

The US Supreme Court’s Ohio v American Express decision of June 2018 analysed the economics of the two-sided market for credit card transactions

Kirkland & Ellis has opened its second office in Texas hiring six lawyers in Dallas. The office's initial staff will be eight partners – the firm opened in Houston in 2014.

Xiaomi's initial public offering on the Hong Kong Stock exchange (HKEx) in July kickstarted a wave of listings of companies with the so-called weighted voting right (WVR) structure. This allows significant voting rights to be awarded to a shareholder, regardless of their actual stake in the company, and is often used by a company's founders after an initial public offering to limit stock dilution and retain control.

Commercial battles are being fought on every continent. The Trump administration has imposed tariffs on a wide range of goods from long-standing trade partners including China, Canada and the EU. At the same time, it's reforming and reinforcing the powers of its Committee on Foreign Investment in the United States (Cfius) to oversee takeovers by foreign investors, and getting the Department of Defense involved as well for good measure.

Blockchain could create new opportunities for verified identity solutions

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