09/21/2022
‘Green Isle’ Guernsey launches Natural Capital Fund regime
This policy announcement follows completion of a public consultation process.
Regulation, Risk & Compliance
09/21/2022
SEAR and the Individual Accountability Landscape: The Central Bank (Individual Accountability Framework) Bill 2022
Once enacted, which might be as soon as Q4 2022, the IAF Bill will introduce significant changes to the regulation and supervision of regulated financial service providers
09/21/2022
Snapshot: Section 175 of the BVI Business Companies Act
An example of this wide ranging power is that, subject to a company's memorandum and articles of association (M&A), directors can generally approve the sale of assets by a BVI company without the need for member approval.
09/20/2022
Jersey announces further increase to minimum wage, representing 14% increase to current level
A single minimum wage rise to £10.50 from 1st November represents a 14% increase compared to current levels.
09/20/2022
Legal Guide to Pre-Enforcement Steps Under Jersey and Guernsey law
Enforcement of share security over Jersey or Guernsey companies in those structures will generally be one of the enforcement options.
09/19/2022
Taylor: Bermuda is a positive ESG jurisdiction
Mr Taylor was one of four panellists in the ‘Using Captives for ESG Initiatives’ discussion on the final day of the Bermuda Captive Conference 2022 held at the Fairmont Hamilton Princess.
09/16/2022
BVI Funds and BVI Approved Managers – what makes them a sensible choice for you
Our speakers also interacted with the audience at the end of the webinar through the Q&A session
09/16/2022
Dart announces new and enhanced employee benefits with focus on family
Pre-pandemic internal research highlighted benefits that employees hoped to see added to Dart’s already extensive benefits package, while post-pandemic realities made family, flexibility, and time off more important than ever.
09/16/2022
P&R proposes new law on minimum standards for accountants
"This gap has arisen as the [international] Financial Action Task Force has revised the standards it requires jurisdictions to apply in relation to these businesses," it said.
09/16/2022
Mortgage disbursements drop 22 percent in Q2 Central Bank reports
With regard to interest rates, the average loan financing for commercial mortgages narrowed by 2.0 percentage points to 5.72 percent
09/15/2022
Jersey’s minimum wage set to rise from 1st October
Jersey’s minimum wage is set to rise to £10 per hour from 1st October 2022.
09/15/2022
Quarterly Economic Review June 2022
In addition, banks’ credit quality indicators improved in the second quarter, underpinned by the modest recovery in the economy and ongoing loan write-offs.
09/15/2022
BVI Business Companies (Amendment) Act 2022 - Summary of Key Changes
BVI Business Companies (Amendment) Act revisions effective 1 January 2023
09/15/2022
Cryptocurrency property sale overseen by CIMA
Although property sales are regulated by the Department of Commerce and Investment, cryptocurrencies are regulated by the Cayman Islands Monetary Authority
09/15/2022
Follow-on consultation on anti-money laundering exemptions
We are seeking feedback to the consultation from all interested parties by 14 October 2022
09/15/2022
Employment Arrangements for Public Holiday on Monday 19 September in Jersey and Guernsey
In Guernsey, the employer’s options will depend on the wording of the employment contract.
09/14/2022
Bank to force closure of BFN accounts
BFN was involved in about 100,000 transactions a year that may now end, including customers paying their American Express cards and also those paying overseas bills.
09/14/2022
Catalina receives Lloyd’s in principle approval
Catalina is a market leader in the legacy sector, and its expertise and robust capital resources are a welcome addition to Lloyd’s.
09/13/2022
UK Government’s Decision To Reject Bermuda’s Attempts To Legalise Cannabis ‘Should Not Come As A Surprise’
While some reports suggest the decision was made by Ms Truss instead of Mr Cleverly, and that the move will ‘destroy’ relations between the UK and Bermuda
09/13/2022
What You Need to Know About BVI Voluntary Liquidations
When preparing for the BVI voluntary liquidation of any entities that are soon to near or have reached the end of their life cycle, the process need not be complicated.