09/23/2021
Central Bank of Ireland Review Identifies Market Abuse Deficiencies
In July 2021, the CBI issued a Dear CEO Letter (the "Letter") setting out its findings and expectations arising from the review.
Regulation, Risk & Compliance
09/23/2021
BVI Commercial Court guidance on adverse inferences relating to the non-disclosure of lawyers' documents
The Claimants formed a consortium with CPE Fund Management Limited and on 7 December 2020, made a non-binding offer to acquire all outstanding shares of the Company for $15.47 per share (the Proposal).
09/23/2021
Guernsey introduces new compliance measures for CRS and FATCA reporting
This briefing note provides a summary of those strategies and will be of interest to those operating in the finance industry and compliance sector.
09/23/2021
Collas Crill Explains... Changing the Proper Law of a Guernsey Trust
Consequential amendments – most provisions that allow for the proper law to be changed also allow consequential amendments to be made to the trust instrument when the power to change the proper law is being exercised.
09/23/2021
Under examination: BVI and Cayman regulatory inspections
The major regulators The Financial Services Commission (FSC) in the BVI and the Cayman Islands Monetary Authority (CIMA) in the Cayman Islands are the principal financial services regulators that are tasked with supervising, monitoring and regulating the
09/23/2021
BVI Economic Substance – ITA Commences Audit Process
The questions raised by the ITA in these audit requests have included not only details of the business purpose, assets and day-to-day activities of the relevant entity, but also details as to what steps the entity took in order to make its determination a
09/23/2021
Financial Crime Focus
The proposal sets the threshold for cryptoasset transfers at GBP 1,000 so it will therefore be necessary for firms to calculate the value in GBP of, for example, a transfer of Bitcoin or Ethereum.
09/22/2021
Advisers warned over compliance as HMRC writes to non-doms
Ashford added that in the past five years HMRC has heightened its focus on cracking down on so-called ‘enablers’.
09/22/2021
Regulator assesses risk of local non-profits being used for financial crime
The data will help determine the JFSC’s approach to supervising non-profit organisations, particularly those that are considered more vulnerable.
09/22/2021
Jersey’s Government Plan and the proposed budget changes – how it will impact you
“This, the final Government Plan of our term of office, maintains our commitment to the priorities we set at the start of this Government’s term of office"
09/22/2021
Revised Work Safely Protocol For Employers And Workers In Ireland
Continuing our Recovery and Reconnecting' guidance roadmap.
09/21/2021
Cryptocurrencies in Liquidation: Perspectives from Cayman and the BVI
As of the first week of May 2021 the combined value of all crypto coins stood at an incredible US$2.43 trillion.
09/21/2021
JFSC: Comprehensive changes needed for some businesses to fully comply with Enhanced and Simplified Due Diligence Measures and Exemptions
The findings highlight a range of statutory obligations and regulatory requirements that were either not complied with or were only partially complied with.
09/20/2021
Cayman Islands Private Funds – Filing Extension for FAR Form and Related Fund Entity Form
For private funds with a financial year-end of 30 April 2021 and later, the filings must be completed within 6 months
09/20/2021
Jersey Financial Stability Board consultation launched
The Government Plan 2020-23 set out plans for a FSB and this has now been operating on a 'shadow' basis for two years with the intention of fully establishing it once we had reviewed its operation.
09/20/2021
Data Protection: Key Findings From The ECPB's Whatsapp Ireland Decision
WhatsApp was issued a €225 million fine, the largest ever fine from the DPC, and the second-highest under GDPR rules.
09/20/2021
Eyes up from the dashboard – is your regulated business future-proofed?
The Global and EU regulatory engine is running with a reset of Global Business Taxation, new terms of reference for the EU Code of Conduct Group, new proposals for blacklisting criteria, AMLD6 and an AIFMD Review, all in train.
09/17/2021
Relocation Employees to Ireland - A Reference Guide for Employers
Occupations include information communication technology professionals, scientists, engineers and business administration and research professionals including, for example, tax consultants and accountants.
09/17/2021
Watchdog fines companies for sending 354 million nuisance messages
These companies should have known better.
09/17/2021
Bermuda: Ministry of Finance announces additional CRS compliance activities
The notice advises that the Ministry is planning additional CRS compliance activities in support of Bermuda’s obligation to monitor