01/14/2021
Cayman Islands Economic Substance reporting dates extended
The next stage for those carrying on relevant activities will be filing an ES Return through the DITC Portal.
Regulation, Risk & Compliance
01/14/2021
EU Regulator Warning on Post-Brexit Financial Services EU Access Exemptions
ESMA's statement aligns with our previous advice to clients on the narrow scope of this exemption, particularly where it relates to services being provided to retail clients.
01/13/2021
Taking an assignment of a purchase agreement in a new development? Act now to beat 30 June 2021 stamp duty changes!
Up until recently, the Cayman Islands Lands and Survey Department had indicated that stamp duty paid on a purchase agreement cannot be applied to a future assignment of that purchase agreement.
01/13/2021
‘No more withdrawals’: premier sticks to pension position
Government had amended the National Pensions Law to allow local workers to make withdrawals from their pension accounts.
01/13/2021
‘No more withdrawals’: premier sticks to pension position
Government had amended the National Pensions Law to allow local workers to make withdrawals from their pension accounts.
01/13/2021
CESRA: Economic Substance Reporting Deadline Extension
Failure to comply with the annual reporting requirement exposes an entity to fines and possible striking off.
01/12/2021
Fee payment deadline for CIMA registered directors to avoid fines: 15 January
The annual declaration should be filed through the CIMA Director Gateway.
01/12/2021
International Data Transfers - Brexit And Schrems II: Impact For Funds
This briefing considers the implications of both for investment funds.
01/12/2021
Why Kenya is yet to receive funds stashed in Swiss banks
Many Kenyans found it difficult to understand why Switzerland did not simply return the funds to Kenya without much further ado.
01/12/2021
Former Malta regulator CEO asked to refund extra pay
He resigned following reports of an all-expenses-paid trip to Las Vegas
01/12/2021
The Carlyle Case – The Final Chapter
The Carlyle case arose from the collapse in March 2008 of a Guernsey fund called Carlyle Capital Corporation Ltd
01/12/2021
Medicinal cannabis firm ready to start growing and exporting from the Island 'within weeks'
Chrystal’s statement says that facilities are in place to start growing and exporting medicinal cannabis from the Island within weeks.
01/11/2021
Post-Brexit warning for businesses
The UK and Jersey’s rules for doing business with the EU changed with effect from 1 January, and while tariff-free trade in goods was maintained by the trade agreement that was reached, extra bureaucracy and other barriers can be expected.
01/11/2021
CIMA revokes licence of CTS Captive Management
Specifically, CTS Captive Management has failed to pay the annual licence fee and penalties for 2019 and 2020
01/11/2021
Black Swan given statutory force: BVI legislature confirms jurisdiction to grant freestanding relief in support of foreign proceedings
The speed in which this legislation has been drafted, approved and enacted in response to the Convoy Collateral decision is a testament to its importance.
01/11/2021
Banks are back
The market has anticipated this to some extent, with both bank stocks and bonds outperforming the general market over the past couple of months, albeit the sector was one of the laggards throughout 2020.
01/11/2021
CIMA revokes licence of CTS Captive Management
CIMA said it has revoked the licence because the company is not complying with the Insurance Act
01/11/2021
Trusts, self-dealing and conflicts – Bedell Cristin acts for successful beneficiary
The Royal Court accepted this expert evidence and found it was consistent with the position at Jersey law.
01/11/2021
In force: Financial Services (Disclosure and Provision of Information) (Jersey) Law 2020, Regulations and Order
The most important change being the introduction of the concept of ‘Significant Persons’ for these entities with certain reportable information being made publicly available for the first time.
01/11/2021
The role of an AIF depositary
Its main objective is to enhance investor protection by increasing the depositary missions and responsibilities.