Managers of Wealth Offshore

New Fast Track Application Regime for Managers of Overseas Collective Investment Schemes:

The new regime has resulted in the publication of a revised Form FTL and where a migration of the manager is involved the new Form FTLM.

Ten day fast track regime boosts Guernsey's appeal to migrating fund managers by Kate Storey

The fast-tracking would apply for either a general partner of a non-Guernsey limited partnership, or a standalone manager wishing to move domicile to Guernsey.

DAC6 reporting obligation deferred by 6 months

The 3-month deferral for DAC2 initially proposed by the European Commission on 8 May 2020, is maintained.

Covid-19: Flexibility regarding reporting for banks and financial service providers

It also specifies that the leeway it applies will be closely coordinated with national authorities, the ESAs as well as the European Central Bank.

Swiss private bank has Cayman Islands licence revoked

Regulator says it failed to appoint appropriate directors and meet AML protocols

British Virgin Islands Regulatory Obligations and Filing Deadlines 2020

The appointed person responsible for the valuation of fund property must value the fund's assets in accordance with the valuation policy.

China security law has Hong Kongers eyeing offshore accounts

Banks see jump in inquiries as savers wonder whether their nest eggs are safe

Spotlight on ADGM: Structural Advantages and-Benefits for Investors

By structuring transactions using vehicles domiciled in the ADGM, enforceability of structures and transaction terms can be improved for private equity and venture capital investors.

Mauritius Budget 2020/21 - Ocorian Analysis

The government’s strategy to create a platform for sustainable growth in a “new normal” world is commendable.

BVI Court of Appeal Overturns Black Swan

The Court of Appeal also ruled that the assets of a BVI company are not, without more, to be considered the assets of one of its shareholders

Ogier and Clifford Chance advise HSBC on States of Jersey Covid-19 credit facility

Carey Olsen and Slaughter and May acted for the States.

Investment by Guernsey vehicles into cannabis and other drug-related assets

The Committee has stated that Guernsey's anti-money laundering legislation will not apply to the proceeds of the lawful cultivation and production of cannabis for recreational purposes in any country where such cultivation and production is lawful.

BMA awards licence to cryptoasset insurer Evertas

Cryptoassets are a new and rapidly expanding asset class with a total market capitalisation of $300 billion. 

Decline in funds business to be short-lived: Guernsey Funds Forum

Deals that will happen definitely will decline.

The British Virgin Islands: Coronavirus (COVID-19) and Force Majeure Clauses

The clause’s reach depends on its precise wording.

Harneys advised Legend Biotech Corporation on its US$487 million IPO

The Harneys team was led by Partner Raymond Ng

The Rise in Litigation Funds in the Channel Islands

Ogier's Jersey and Guernsey teams have worked alongside a number of market leaders in this area and have significant experience in the regulatory and structuring issues to be considered.

Guernsey financial advisors fined for making profit from elderly clients losses

The Commission has said that Mr Penney engaged in very deliberate improper conduct, profiting to the sum of over £100,000.

Integritas Wealth Partners cancels their Annual Client Meeting 2020

The virtual client event will be launched via Integritas Wealth Partners’ social media channels in the coming days.

Resumption of onsite inspections

Financial Crime inspections are resuming now as the finance industry has demonstrated its resilience and firms have generally adapted well to new methods of working.

Regulation, Risk & Compliance