Managers of Wealth Offshore

Clarity for Creditors When Settling with Multiple Debtors

In a significant judgment delivered earlier this year1 , the Court of Appeal held that those provisions of the Act do not apply to claims for the recovery of debts.

ICLG Alternative Investment Funds 2022: Cayman Islands

Their contribution formed part of the International Comparative Legal Guide to: Alternative Investment Funds 2022, which provides a practical cross-border insight into alternative investment funds work in 18 jurisdictions.

Barbados to promote environmental sustainability

The IDB guarantee will help reduce borrowing costs for the country as it seeks to raise funds for conservation activities, which includes the creation of a conservation trust fund, known as the Barbados Environmental Sustainability Fund.

DCI report: real estate sector "attractive to money launderers"

Anti-money laundering deficiencies noted in 42 per cent of entities inspected

Brace for higher inflation as growth trimmed to 5%

Right now, the official government measure estimates that probably The Bahamas’ inflation rate is below 5 percent but that is still significantly higher than a year or two years ago”.

Fidelity Bank reorganises, rebrands to PROVEN Bank

Based on changes to its operating model, the bank said some Caymanian staff members were awarded promotions, while others were made redundant.

Bahamas: Aviation Finance & Leasing

The Guide is produced in association with The World’s Leading Lawyers.

Commencement date confirmed for Cayman Restructuring Officer Regime

The Amendment Act introduces a new corporate restructuring process and the concept of a dedicated restructuring officer into the Cayman Islands Companies Act (2022 Revision).

Introduction of the New Cayman Islands Restructuring Officer Regime

Upon filing the application seeking the appointment of restructuring officers, companies will be able to obtain an immediate and standalone restructuring moratorium on unsecured creditor action which will have extraterritorial effect (as a matter of Cayma

Guidance Notes on complying with beneficial ownership Obligation in the Cayman Islands

An overview of the Cayman Islands Beneficial Ownership Guidance Notes.

Banks told to build ‘stronger connection’ with non-profits

That assertion came from Human Rights Bahamas, which said it was speaking on behalf of non-profits and non-governmental organisations (NGOs) that did not want to be identified.

Proposed Guernsey rules impact fintech, crowdfunding, peer to peer and virtual asset service providers

Retailers offering credit in their own right will require a licence, but in most circumstances, high street retailers offering credit from a third party lender will not be required to have a licence.

Inflation impact on the Maldives would be less: World Bank

The Country Director, who frequently travels to the Maldives, praised the economic measures being taken by the government.

Acrisure partners with LEUE & NILL

Through this partnership, LEUE & NILL will gain access to Acrisure Re’s extensive broking expertise, access to global markets, as well as actuarial and analytical capabilities.

Sustainable Finance Regulation in A Nutshell - SFDR, Taxonomy and RTS level II

The final piece of regulation, RTS Level II, is expected to be approved on July 05 2022 and will come into effect on 1 January 2023.

Register of Overseas Entities comes into force in the UK

The Register will require overseas entities that have a beneficial interest in UK land to declare their beneficial owners or managing officers publicly via Companies House.

BILTIR Forms Global Advocacy Committee

Bermuda is compliant with the highest recognized international regulatory standards, which is a testament to Bermuda’s prudent risk-based solvency framework.

BRACE YOURSELVES: Economist warns over IMF’s “gloomy” projections on inflation

The IMF has reduced its growth expectation for 2022 to 3.2 percent which is about half a percentage point lower than what it had previously predicted.

US Fed raises interest rates again, increasing local borrowing costs

Interest on flexible rate loans and mortgages will, as a result, rise in step with the Fed’s interest rate actions.

Jersey’s Global Economic Footprint Highlighted to Parliamentary Audience

Against the backdrop of the 60th anniversary of Jersey’s international financial services industry last year, the event also acted as a forum to discuss how globalisation is evolving and impacting cross-border financial flows.

Regulation, Risk & Compliance