Worldwide: Compliance

European financial regulators have issued new guidance on managing ICT risks from frontier AI models under DORA, setting expectations that will reshape how financial entities assess their technology providers. The statement from the European Supervisory Authorities outlines three core risk mitigation strategies—prevention, detection, and management—that will drive increasingly detailed scrutiny of AI service providers' cybersecurity, governance, and operational resilience. ICT service providers,

A Federal High Court judgment has nullified the Corporate Affairs Commission's deregistration of the National Youth Council of Nigeria, raising critical questions about the constitutional limits of administrative power under CAMA 2020. The decision exposes fundamental structural weaknesses in Sections 839 and 851, which grant the CAC sweeping powers to suspend trustees and adjudicate disputes through an internal committee. This analysis examines whether these provisions, as currently drafted, strike an appr

The Federal Government of Nigeria has issued a new compliance circular addressing data protection and responsible data governance requirements for Ministries, Departments, and Agencies (MDAs). This directive establishes mandatory standards for how government entities must handle, protect, and govern data under their control. The circular represents a significant step in strengthening Nigeria's data protection framework across the public sector.

The EU institutions have reached consensus on replacing SFDR's Articles 8 and 9 with three product categories, but significant disagreements persist on fossil fuel exposure criteria and whether alternative investment funds marketed exclusively to professional investors should be exempt from the new categorisation regime. These unresolved issues carry particular weight for private markets participants navigating the evolving regulatory landscape.

South Africa's Financial Intelligence Centre has issued Guidance Note 7B, updating the risk-based approach under FICA with important clarifications on proliferation financing, new technology risks, and due diligence...

Nigeria's Federal Ministry of Communications has issued a directive to maintain the current regulatory framework for internet platforms and digital economy matters while inter-agency policy harmonisation is underway.

The European Court recently dismissed a challenge to an EU sanctions designation, providing crucial clarification on how far the Council's power extends when targeting individuals who facilitate sanctions circumvention. The case centered on a fraudulent scheme to sell frozen shares through a subsidiary structure, raising fundamental questions about jurisdiction and the definition of circumvention. This judgment establishes important precedent for understanding what activities fall within the EU's sanctions

Can foreign investors safely repatriate funds from Nigeria, and is it possible to operate there without a physical presence? This analysis challenges two persistent myths about doing business in Africa's largest economy, examining the real mechanics of capital flows and corporate structure requirements that determine success or failure in the Nigerian market.

The European Commission has issued guidelines on transparency obligations under Article 50 of the EU AI Act, clarifying how providers and deployers must inform individuals when they interact with AI systems or are exposed to AI-generated content. These non-binding guidelines address a wide range of AI applications, from chatbots to deepfake technologies, and establish four main transparency scenarios with specific disclosure requirements that businesses must now prepare to implement.