09/12/2022
Amendments to the BVI Business Companies Act
The current seven year period between a company being struck off the register of companies ("Register"), and being dissolved, is being abolished.
Regulation, Risk & Compliance
09/12/2022
Tribunal overturns MFSA fine for late submissions of accounts ‘due to COVID’
Curmi & Partners fined €5k for filing them three weeks after April 2020 deadline
09/12/2022
Need for a European centre of excellence for anti-money laundering, compliance
The European Single Rulebook has made compliance officers’ role more demanding
09/09/2022
Cayman Islands: Regulation Of Crypto Exchanges And Other Crypto Services In The Cayman Islands
According to information from the CIMA, 55% of the VASPs registered in Cayman are trading platforms with a daily transaction volume of USD5.1 billion (2 to 3% of total global volumes).
09/09/2022
Economic substance requirements for Jersey companies and LLCs
The Substance Law was amended on 1 September 2022 to extend its application to limited liability companies
09/09/2022
New Registration Requirement for Cayman Entities That Own Property in the UK
Entities that disposed of property or land after 28 February 2022 will also need to register and provide details of that disposal.
09/08/2022
Guernsey legal and regulatory update September 2022
The original proposal was to include the new requirement in the form of 'guidance'
09/08/2022
Economic substance requirements for Jersey companies and LLCs
The Substance Law imposes economic substance requirements on companies and LLCs that are tax resident in Jersey that undertake relevant activities in respect of financial periods commencing on or after 1 January 2019.
09/08/2022
Updated Procedures for De-Registration of Cayman Islands Mutual Funds and Private Funds
The revised Procedures represent the outcome of a consultation process that CIMA has undertaken in order to simplify and standardise the de-registration process for regulated funds, so that mutual funds and private funds can terminate their registrations
09/08/2022
Cayman Grand Court permits joint provisional liquidators to control the timing of their discharge of office
Given that the restructuring had been achieved, the JPLs applied for their discharge and the Court acceded to that application.
09/08/2022
Stress-free conveyancing in Cayman
The Cayman Islands has a world-class land title registration system, with strict rules relating to documents and filings.
09/07/2022
GROW Jersey accelerates plans following £40,000 Lloyds Bank sponsorship
This new sponsorship will fund the purchase of much needed machinery and allow Grow Jersey to expand its services.
09/07/2022
We have made some enhancements to myRegistry, including the launch of the new Limited Liability Company Register
Users will now have the ability to register a limited liability company via myRegistry and file other updates via myRegistry.
09/06/2022
Minimum Wage Of Between $16 – $16.40
Hospitality workers who receive tips and gratuities and personal care workers who primarily receive remuneration through commission will have a minimum wage set at 75% of the ordinary minimum wage, equating to a fixed rate of between $12 and $12.30.
09/05/2022
CIBC FirstCaribbean International Bank ends operations in Dominica
Wellington noted that the bank is mindful of its continuing obligations to its team in Dominica and to their clients during the period of transition.
09/02/2022
Bermuda Insurance Code of Conduct and Independent Directors
This revised draft of the Insurance Code of Conduct comes into force on 1 September 2022
09/02/2022
Cayman Islands' new restructuring officer regime is now in force
Although the courts had been adept at adapting the provisional liquidation process for the purposes of restructuring, liquidation proceedings had been less than ideal for these purposes.
09/01/2022
Central Bank: Private sector loan arrears drop by $27m
“Banks’ total provisions for loan losses declined by $18.3 million (3.9 percent) to $447.9 million, in July,” the report read.
09/01/2022
Cayman National plans merger with Republic Bank Cayman
Following the mergers, Cayman National Bank and Cayman National Securities will remain as surviving entities.
09/01/2022
Waiting on remittance loading bonanza
One company has applied to provide service