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At the World Government Summit, Prof. Klaus Schwab, Chairman of the World Economic Forum, emphasized the need for governments to educate citizens on AI and emerging technologies to build trust and optimism. He praised the UAE’s proactive approach, citing its early appointment of a Minister for AI as a model for future governance. With AI expected to impact up to 50% of jobs in the next decade, Schwab highlighted the role of governments as educators, ensuring technological advancements are seen as opportunities rather than threats. He called for forward-thinking policies and a commitment to fostering curiosity, enabling societies to embrace the future confidently. #AI #UAE #AIEducation

Switzerland’s wealth tax plays a key role in its tax system, impacting individuals and businesses. Understanding its implications is essential for effective financial planning and compliance. Visit our website to read the full article. https://lnkd.in/dZSjSdfD #WealthTax #SwissTax #TaxPlanning

The Dubai Financial Services Authority (“DFSA”), in collaboration with the UK’s Financial Conduct Authority (“FCA”), has co-led a global report on AI’s impact in financial services. Conducted on behalf of the Global Financial Innovation Network (“GFIN”), the report examines AI’s role in risk management, customer service, fraud detection, and investment strategies, gathering insights from over 40 regulators, industry stakeholders, and financial innovators. Key findings highlight AI’s potential to enhance financial inclusion, improve transparency in automated financial advice, and drive innovation while addressing governance and cybersecurity challenges. The report emphasizes the need for global collaboration to balance AI’s benefits with regulatory oversight. DFSA remains committed to fostering AI-driven advancements while ensuring integrity and stability in financial services. #DFSA #AIFinance #FinancialInnovation #ArtificialIntelligence #FinTech #RegTech #RiskManagement #CyberSecurity

Abu Dhabi Global Market (“ADGM”) has enacted new employment regulations, effective April 1, 2025, allowing firms to hire remote and part-time workers. The updated law redefines ‘employee’ to include remote workers residing inside or outside the UAE, whose primary workplace is not on ADGM premises. Employers must provide and maintain necessary technical equipment and handle work permits, residency visas, and ID cards for all employees. The regulations also set clearer rules on employee rights, including a six-month probationary period with limited benefits, and stricter anti-discrimination protections. These changes reflect global shifts in workplace practices and aim to provide flexibility and clarity for employers and employees while fostering innovation and stability in ADGM's work environment. #ADGM #EmploymentLaw #RemoteWork #PartTimeWork #WorkplaceFlexibility

We’re Hiring! We’re looking for a a talented Lawyer to join our Abu Dhabi team. If you’re ready to bring your expertise to a collaborative and forward-thinking environment, we would love to hear from you! Send your resume to recruitment@lecocqassociate.com #wearehiring #legaljobs #joinus

Abu Dhabi Global Market ("ADGM") has introduced a revised fee structure for commercial licences, effective January 1, 2025. Non-financial and retail businesses will see significant reductions, with initial registration fees cut by up to 58% and annual renewal fees reduced by up to 50%. These changes aim to enhance ADGM’s appeal and support a diverse business ecosystem. For other sectors, such as financial services and tech startups, fees will increase slightly. Additionally, all businesses will now pay a $300 data protection fee for new registrations and renewals. This updated structure, shaped by consultations with the business community, aligns with ADGM’s goal of fostering a dynamic and globally competitive financial hub. #ADGM #BusinessGrowth #LicenceFeeReduction #UAEBusiness

The best is yet to come! Happy New Year ✨ #lecocqassociate

Wishing you all a Merry Christmas and a prosperous New Year! From our LCQ family to yours! #holidayspirit

The Swiss Financial Market Supervisory Authority (“FINMA”) has released guidance to support financial institutions in managing governance and risks related to the use of artificial intelligence (AI). While many institutions are in the early stages of AI adoption, FINMA’s insights aim to help them establish robust frameworks for risk management and governance. By addressing challenges like model risks, data security, and IT vulnerabilities, the guidance encourages institutions to build resilient business models and foster a strong risk culture. These measures are designed to enhance innovation while safeguarding the reputation and sustainability of Switzerland’s financial sector. #FINMA #ArtificialIntelligence #CyberSecurity #FinancialTechnology #SwissBanking

The ADGM’s Employment Law Amendments bring important changes for employers and employees. Learn about the key updates and their impact. Visit the link to read the full article: https://lnkd.in/dwBrQknn #ADGM #EmploymentLaw #LegalUpdates #Compliance #UAERegulations #EmploymentAmendments #lecocqassociate