Managers of Wealth Offshore

More firms should access coronavirus loans following IoD lobbying

CBILS will continue to be an important lifeline for firms, especially as some have fallen through the gaps of relief schemes that are now winding down.

Applications welcome for second phase of payroll co-funding scheme support

This support will take the form of a reimbursement scheme, as it did in the first phase

'Trust me' - from here to indemnity

Indemnities can be inappropriately drafted so as to be either too broad or too narrow in scope.

JFSC committed to helping industry with KYC utility

The JFSC also had further discussions with individual firms, trade associations and technology providers. The main findings from the working group are:

Caribbean Business And Finance Report

The former head of research at the Caribbean Development Bank added that this could be done through a digital platform that would allow for the ease of trading of the securities “where anyone can go onto their phone and sell their security, receive

Planning for Succession to BVI Companies

The BVI Court generally processes grant applications within 12-16 weeks of the submission of the application, but more complex cases will take longer.

HMRC ramps up crackdown on high net worth tax evasion

HM Revenue & Customs (HMRC) has ramped up investigations against the wealthy, as it seeks to show its commitment to battling sophisticated tax evasion.

Global Guernsey

Rupert Pleasant, chief executive of Guernsey Finance, is a man with a plan to showcase the island’s expertise globally and gain new business from Hong Kong to the US, as Will Green found out when they met

Bermuda statute strengthens trust firewall provisions

The key section, s.10, improves firewall protections by specifying the circumstances under which any foreign law shall be excluded from application to a Bermuda trust, as opposed to providing for a blanket application of Bermuda law subject to exceptions.

Momentum ordered to compensate Continental Wealth clients

55 complainants had substantial investments in structured notes

Walkers Advises The Commercial Bank (P.S.Q.C) of Qatar

The Walkers team was led by Hong Kong partner Nicholas Davies and Bermuda partner Adam Bathgate with assistance from Hong Kong associate Sonya Saxena.

Funds spotlight: How to minimise costs when registering private funds

The PF Law requires that new and existing Cayman Islands’ investment funds that fall within the definition of a private fund register with CIMA by 7 August 2020

Key updates to Cayman Islands Economic Substance Guidance

This further demonstrates the Cayman Islands commitment to international regulatory standards.

Ogier advises Clarivate on $6.8bn combination with CPA Global

Clarivate has signed a definitive agreement with the current investors in CPA Global, which includes Leonard Green & Partners, L.P. and funds managed by Castik Capital and Partners Group, to combine Clarivate with CPA Global.

EU/US Privacy Shield data transfers now invalid

The now invalid Privacy Shield was a legal framework between the EU and the United States of America that allowed personal data from the EU to be transferred to the US.

Trade talks begin on economic partnership agreement with the UK

The agreement contains the same tariff and services commitments that were negotiated initially in the CARIFORUM-EU Agreement to which The Bahamas and UK were parties.

Bermuda Amends Trust Law to Strengthen “Firewall” Provisions and Restores Settlors’ Freedom of Disposition with Regard to Illegitimate Children

This amendment will reintroduce flexibility and restore the freedom of disposition to the settlor of a Bermuda trust in line with other offshore trust jurisdictions.

Regulation, Risk & Compliance