05/20/2022
CIMA revokes fund administrator licence
As reasons for the licence revocation, which took effect 10 May
Regulation, Risk & Compliance
05/20/2022
JRA sets strategic direction for 2022-2023 and signs first MoU
The JRA is committed to establishing an efficient and effective regime that is proportionate to the risks and nature of Jersey’s banking industry and to do so in an open and transparent manner.
05/20/2022
Guernsey private trust companies and foundations
The Commission issued updated guidance in November 2021
05/20/2022
Dean D’Sa, Founding Partner, IZAR: “FSC guidelines on green bonds are important as they set a minimum standard”
The legal infrastructure has not changed which is good because when structuring deals, you really want to have the comfort of stability.
05/19/2022
Woodbrook Group gives up Cyprus licence
Company has been dissolved since October 2021
05/19/2022
Beneficial Ownership Registration for BVI Entities Owning UK Property
Conyers can assist you to ensure that all relevant filings, updates and confirmations are made to ensure compliance with the ECA.
05/18/2022
Navigating the Jersey M&A Landscape (3 of 3)
Our Appleby Corporate team has been involved in a number of mergers and acquisitions (M&A) transactions involving buying, selling and/or restructuring businesses that have premises and/or people in Jersey.
05/18/2022
Amendment of Investment Business Client Assets Order comes into force
Jersey was specifically noted to not have fully adopted measures with respect to due diligence on the selection of custodians/third parties and regarding disclosing the asset protection regime afforded for investments in overseas jurisdictions.
05/18/2022
Deadline reminder for consolidated handbook data request
These emails were sent to members of Industry who are or may be providing services to the supervised persons listed below, regarding the consolidated handbook.
05/17/2022
Over £1bn of Russian assets frozen in Jersey
While less than £5m has been seized in Guernsey
05/17/2022
US tops financial secrecy ranking as G7 countries upend global progress on transparency
The G7 countries’ undermining of global transparency has further fuelled calls by leading economists for a UN tax convention
05/17/2022
BMA extends data call deadline
Upon closer review, questions five to six requesting details of other internationally-sanctioned jurisdictions are not relevant for this exercise; therefore, the Authority has omitted these sections.
05/17/2022
Close-out netting and set-off provisions for BVI, Cayman Islands, Guernsey, Jersey and Luxembourg counterparties
As a result, financial institutions are reacquainting themselves with protectionist financial contracts, for example, interest rate hedging and swap contracts.
05/17/2022
EU Proposal for further interest limitated rules - the impact on international business
The implementation and final form of the draft Directive is subject to unanimous consent by all EU Member States.
05/16/2022
A Brief Guide To Statutory Demands And Applications To Set Aside Statutory Demands In The BVI
Under section 8(1)(a) of the Act, a company or a foreign company is insolvent if it fails to comply with the requirements of a statutory demand that has not been set aside under section 157.
05/15/2022
Top 'Take-Aways' from the 2022 Mourant Regulatory Conference
Minister Ebanks highlighted the Cayman Islands Government's significant progress
05/13/2022
Rediscovering Share Trustee Services
Regulatory and legislative change, including the US Volcker Rule, has also incentivised the use of share trustees over recent years.
05/13/2022
New Restructuring Officer Regime to be introduced in the Cayman Islands during 2022
During the course of 2022, Part V of the Cayman Islands Companies Act (the "Companies Act") will be amended to introduce a new restructuring officer regime available to companies in financial distress, which can be accessed without the need to p
05/13/2022
British Virgin Islands Regulatory Obligations and Filing Deadlines 2022
Asset allocation details are also required, but there is no need to set out specific details of individual investments.
05/13/2022
The Commission joins the Taskforce on Nature-related Financial Disclosure Forum
As a member of TNFD Forum, the Commission intends to contribute to the TNFD’s ongoing innovative work