10/01/2021
Highlights on the Mauritius Financial Services (Crowdfunding) Rules 2021
In this highlight, we provide a brief summary of the crowdfunding rules, emphasizing the key points set out therein.
Regulation, Risk & Compliance
10/01/2021
Changing Attitudes
We have to have a jurisdiction where people want to move to the Island, work and spend money here.
09/30/2021
Isle of Man banking data leak reveals how sharing banking data can identify offshore strategies and improve beneficial ownership transparency.
No names or account numbers were shared, only the number of accounts based on the residence of the beneficial owner and other details. Results
09/30/2021
Listed Funds and the issue of ever-increasing Regulation
Regulators who may have been accused of being asleep at the wheel very quickly responded to political pressure by introducing requirements that now seem commonplace.
09/29/2021
MFSA issues warning about three different online entities
Two of those companies appear to be clones of legitimate ones, with the third appearing to be an unlicensed entity.
09/29/2021
Jersey employers take note: statutory redundancy and minimum wage increases
Redundancy: increase in the maximum statutory redundancy entitlement
09/29/2021
ESG/Sustainable Investments - How Jersey Law is Adapting to Fight Greenwashing
The Investment Business Code of Practice will also be similarly updated in due course.
09/28/2021
Guernsey to tighten CRS and Fatca reporting
As online registration becomes mandatory for all financial services firms
09/28/2021
Fiscal strategy report “broadly compliant” but issues over data quality and availability exist, notes council
The extent and quality of the sourcing of data are considered material deficiencies, notably the lack of national statistics for domestic income projections, including domestic income forecasts by its components.
09/28/2021
Head sought for bank failure watch group
Jill Britton, JFSC Director of Supervision, commented: “As the regulator, our role is to supervise banks, making sure they are operationally sound and minimising the likelihood of failure.
09/28/2021
Guernsey Bar hopefuls continue virtual attendance at University of Caen
Importantly, not only were all local firms and employers of aspirants supportive of the solution offered by Carey Olsen but the University of Caen and lecturer Sophie Poirey were equally pleased and excited to embrace the new Caen experience.
09/28/2021
Irish Regulatory Framework for Real Asset Depositaries
It sought feedback from industry on the proposed regulatory framework and earlier this year issued its long awaited guidance1 on the regime.
09/28/2021
Jersey employers take note: statutory redundancy and minimum wage increases
This is an entitlement enshrined under the Employment (Jersey) Law 2003, as amended and is an obligation imposed on all employers to pay to their employees in the event of redundancy.
09/28/2021
Isle of Man FSA bans two directors from regulated activity
The directors of IF Ltd, Mr Christopher Stirk and Mr Christian Burton do not hold the requisite licences in their own names to undertake any regulated activities in or from the Isle of Man or hold themselves out as doing so.
09/28/2021
INSOL Channel Islands Conference 2021 – Round-up of key points
The seminar, which provided a welcome opportunity for insolvency practitioners and advisers to reconnect in person, showed why Jersey and Guernsey remain leading locations for structuring complex financial transactions and for the secured lending market.
09/27/2021
Financial Stability Board consultation
The proposals involve providing the FSB with legal gateways and duties to enable it to operate more effectively
09/27/2021
UBS notes postponed verdict in 4.5 bln euro French tax case
UBS noted a decision by French judges to postpone their ruling on the Swiss bank’s appeal against a 4.5 billion euro ($5.27 billion) fine imposed for helping wealthy clients stash undeclared assets offshore.
09/27/2021
Irish Regulatory Framework for Real Asset Depositaries
The Central Bank’s guidance states that a DAoFI may only be appointed to act for authorised AIFs which are qualifying investor AIFs
09/24/2021
The Financial Services Commission of Mauritius issues the Financial Services (Crowdfunding) Rules 2021
In effect, the Crowdfunding Rules legitimate the operation of a crowdfunding platform in Mauritius and provide for its modus operandi.
09/24/2021
Under examination: BVI and Cayman regulatory inspections
They also allow for jurisdictions and products to remain competitive and attractive to clients who are looking for reliable