12/30/2020
Finding Focus After Covid-19
The split is now between businesses that were able to stay open and continue normal operations and those whose demand has been significantly reduced.
Regulation, Risk & Compliance
12/30/2020
Compliance business expands with law firm
As the compliance space grew, she launched Kastleway Compliance, part of the Kastleway Group.
12/30/2020
Walkers Acts for Onex in Relation to Convex Group’s $1 billion Fundraise
The Walkers team that advised on the further investment was led by Jonathan Betts (Partner) with assistance from Rachel Nightingale and Melanie Fullerton (Senior Associates).
12/29/2020
7 major changes coming to UK laws in 2021 including travel to the EU, data roaming and more
New year, new rules - find out what some of them will be
12/29/2020
The ‘Brussels Effect’ Comes For Big Tech
Under the DMA, for example, practices such as self-preferencing will be blacklisted – presumed illegal without the need for the EU to bring an antitrust challenge to demonstrate harm to competition.
12/29/2020
Wilton Announces IOMA Group Acquisition Agreement
Wilton and IOMA target similar markets and clients with complementary products and we are excited by IOMA’s potential as part of Wilton.
12/29/2020
Spain: Spanish regulator issues new regulation on advertising of investment products and services
These new rules affect not only Spanish entities but also foreign financial institutions providing services in Spain under freedom to provide services or right of establishment, including branches and agents.
12/29/2020
Will a Wave of US Delistings Mean a Wave of Cayman Appraisal?
Per the Deminor piece, experience suggests that many of these delisting arrangements will occur at prices unfavorable to shareholders, who may then turn to their Cayman appraisal remedy – something we have blogged about extensively before.
12/29/2020
Maldives-Japan sign exchange of notes on deferring debt-service
The Exchange of Notes follows the Memorandum of Understanding (MoU) on the Treatment of Debt Services signed between Maldives and a number of its bilateral creditor countries, including Japan, in September.
12/29/2020
Country-by-Country Reporting update for Cayman Islands
The CbCR portal will re-open on 5 January 2021 (after being offline since 25 March 2020) and the new deadline for submitting notifications and reports for entities is 28 February 2021.
12/28/2020
Anti-money laundering: CIMA fines Western International $482,000
CIMA said the case highlights the importance of licensees having in place appropriate and effective anti-money laundering policies to ensure compliance with Cayman’s regulatory framework.
12/28/2020
Global demand for second passports "skyrockets" amid pandemic
Many passports that were previously strong have also fallen from grace, due to their leaders' management of the coronavirus pandemic.
12/28/2020
Jersey, Guernsey and EU all approve Brexit deal
The deal sets-out the framework for trade, when the UK leaves the EU single market and customs union on 31st December.
12/28/2020
Satabank's €3.7m money laundering fine slashed to €851,000
Administrative penalty capped at 10 per cent of turnover, court rules
12/24/2020
BMA Revokes Phoenix Law Chambers’ Licence
The Authority is taking this action to safeguard the interests of clients and potential clients of PLC.
12/24/2020
Irish Government Consultation on the New EU Interest Limitation Rule
The consultation represents an opportunity for business to raise any issues with Irish Revenue and the Department of Finance.
12/24/2020
Aster to set up excellence hub on Cayman Islands
The hub seeks to serve the Caribbean Region, North America, Canada, Latin and South America
12/23/2020
Cayman Islands Government Takes Step Towards Improving Access To Justice
Contingency fee arrangements and litigation funding agreements are currently illegal in the Cayman Islands pursuant to the doctrines of maintenance and champerty and are contrary to public policy
12/23/2020
Guernsey is best of British in survey of well-being
The results have been revealed in the Guernsey annual better life indicators report, however the data refers to 2019 and earlier, so is pre-Covid.
12/23/2020
BMA revokes licence of service provider after proprietor declared bankrupt
The second breach was that the firm ceased to be registered with the Bermuda Bar Association as a legal practice and operated as a sole proprietorship.