Managers of Wealth Offshore

Seven new insurers register in Bermuda in March

The BMA noted that the registration/licensing of approved insurance entities is issued after the IALC application process and may be confirmed in future periods.

Cayman Islands: recovery of foreign attorneys' fees for successful litigants

The Cayman Islands does permit foreign attorneys to be admitted on a temporary basis

“No quick fix or simple solution” on housing

During debate, Deputy Carl Meerveld argued the current government is constrained in enacting change to speed up the delivery of house building and proposed radical measures to expedite action.

Collas Crill Advises Onward Opportunities Limited on Landmark IPO

OOL, managed by Dowgate Wealth Limited, will invest in smaller UK companies to support their growth and looks to be a driving force of enterprise in the UK.

BVI update to the Economic Substance rules

The ITA issued such rules (the “ES Rules”) on 9 October 2019, and these wereupdated on 10 February 2020.

Transfer by way of continuation out of the Cayman Islands

The migration procedures and documentation are similar to that of the continuation of an Exempted Company.

No reason “data protection legislation” should stop livestreaming scrutiny

A Scrutiny hearing last week was cancelled after concerns were raised by officers at the States of Guernsey about internal data protection.

ODPA reports nearly 10 million people affected by personal data breaches in first quarter

The Office of the Data Protection Authority has changed the frequency it publishes breach statistics from bi-monthly to quarterly.

Bank fraud dips

... But tries jump by two-thirds to 25,000

Continuing Requirements of Limited Liability Companies in the Cayman Islands

Before proceeding with the registration of an LLC in the Cayman Islands, persons are advised to consult their tax, legal and other professional advisers in their respective jurisdictions.

BVI Voluntary Liquidations: What You Need to Know in 2023

Other new criteria for BVI voluntary liquidators include having at least two years' experience of handling liquidations; holding appropriate professional qualifications and/or a BVI Financial Services Commission-issued insolvency practitioner's

Jersey limited partnerships

The partnership agreement, which must be in writing

Central Bank Updates its Q&A on Digital Assets for QIAIFs

The revised Q&A does not change the Central Bank’s position in relation to retail investor alternative investment funds

Jersey fund structures

A JLP/SLP/ILP consists of one or more general partners who are jointly and severally liable for all the debts of the partnership and one or more limited partners

Guide on conducting an out-of-court workout in Asia

One way of dealing with insolvency is a private agreement between creditors — often just banks and bondholders — and the debtor to effect a restructuring.

CP153: CBI Consults on Individual Accountability Framework as Act Becomes Law

The main requirements of the IAF Act will not come into force until after this consultation process has concluded.

Central Bank of Ireland Findings Following EU Review of Costs and Fees in UCITS

The Central Bank expects the letter will be reviewed by the boards of UCITS management companies (and AIFMs) and appropriate action taken without delay.

2023 Q4 update - Cayman Islands

The Cayman Islands have issued a regulatory update for October 2022.

Isle Of Man FSA Introduces A New Predominantly Industry - Funded fee model

The move to a PIFM will represent a substantial change to the FSA’s fee structure, where the FSA is currently funded by approximately 56% fee revenue and 44% Treasury contribution.

A round-up of the recent updates affecting investment funds in Guernsey

The UK Government created the TRS in 2017 to ensure that the UK complies with its international obligations to counter money-laundering and terrorist financing.

Regulation, Risk & Compliance