09/20/2020
Constitutional changes: UK withdraws Section 81 removal
Premier: 'I'm very disappointed'
Regulation, Risk & Compliance
09/20/2020
Cayman secures $330.4 million in emergency line of credit
The government is paying $1.96 million to establish the line of credit in place, regardless of whether it accesses it or not.
09/20/2020
Gibraltar Updates Distributed Ledger Framework to Align With FATF Crypto Regulations
Amendments to new token issuances prevent DLT providers from utilizing internally generated token reserves as part of its regulatory capital requirements.
09/18/2020
Jamaican Banks Easing Account Opening Restrictions
Due to the need to satisfy local and international regulations, local banks couldn’t facilitate these people who had a desire to join the formal system but lacked the full documentation.
09/18/2020
Creation of security by a Cayman Islands exempted company
This guide therefore examines the key Cayman Islands aspects of the creation by a Company of security over its foreign assets under a foreign law.
09/18/2020
The Bahamas Central Bank to Launch Its Digital Currency, the Sand Dollar, Next Month
The Sand Dollar transfers will be made using a mobile-based wallet app on users' phones which will be much easier since more than 90% of the citizens use a mobile phone.
09/18/2020
Third Point Reinsurance Ltd. Announces Partnership with New Bermuda-based MGA
Third Point Re will own a minority stake in the newly-formed company.
09/18/2020
Creation of security by a Cayman Islands exempted company
Cayman Islands law allows a security document to be governed by foreign law and gives the parties the freedom to choose any law they consider appropriate to govern it.
09/17/2020
VP Bank selects AxiomSL for risk and regulatory reporting
Selecting AxiomSL will enhance the value of our investment in regulatory technology, optimize efficiency, and deliver business insights
09/16/2020
Andersen Global Expands Into St. Kitts and Nevis
The capabilities of the member and collaborating firms of Andersen Global and the organization’s global reach better equip us to seamlessly serve our clients both in St. Kitts and around the world.
09/16/2020
Harneys advises Vieco 10 in relation to the sale of part of its interest in Virgin Galactic Holdings Inc.
Rachel Graham, Corporate Partner in Harneys London office, advised Vieco 10 Limited as to matters of BVI law.
09/16/2020
Walkers Advises on Pathfinding Airline Loyalty Scheme-backed Financing
This innovative transaction was structured to be bankruptcy remote with a robust covenant structure representing a hybrid between a securitisation and a corporate debt issuance.
09/16/2020
HSBC Bank Bermuda To Reopen Today At 1pm
“We apologize for any inconvenience caused by our closure due to Hurricane Paulette and thank all our customers for their continued business and understanding.”
09/16/2020
Luxembourg fund finance deal flow expected to continue to increase, including NAV resurgence, says Ogier partner Jad Nader
Jad joined as a partner in Ogier's Luxembourg-based banking and finance team in August, having moved from New York for the role.
09/15/2020
Consultation Paper on Guidance for Custodians of Open-ended Collective Investment Schemes with Indirectly Held Assets
The following relevant legislation is posted and reproduced with the consent of the States of Guernsey.
09/15/2020
Self-managed funds to be brought within scope of Guernsey's economic substance requirements
New Regulations have been made (10 September 2020) bringing self-managed funds within scope of Guernsey's economic substance requirements.
09/15/2020
Declaration on climate change emergency and Jersey pension schemes
Initially, the role of Jersey's pensions industry in helping the island achieve this target may seem unclear.
09/15/2020
Cayman Islands Updated Economic Substance Guidance
The release of the Guidance follows a period of industry collaboration and demonstrates the Cayman Islands’ continued commitment to a reputable economic substance regime in line with global standards.
09/15/2020
Luxembourg financial watchdog sharpens its teeth
Regulator Marco Zwick on efforts to strengthen supervision after years of criticism
09/14/2020
Malta's MPM Capital handed record fine of €1.18m
The Financial Intelligence Analysis Unit (FIAU) in Malta has fined the now-closed MPM Capital financial services firm a record €1.18m for operating as an unlicenced payment services provider.