03/29/2023
Climate change: Paris Agreement extended to Isle of Man
The move means the Isle of Man’s climate action will contribute to the UK’s commitment to reduce its emissions by at least 68% on 1990 levels, by 2030.
Regulation, Risk & Compliance
03/29/2023
NSM opens London office
The London office team of Chris Bond, James Sermon and Chloe Harris will be supported by the head office in Guernsey.
03/28/2023
Deputy Taylor remains DPA Vice-President
Not only did Deputy Taylor remain in States' Blue Book as the DPA VP - following a majority for Deputy Dyke during the DPA vote, but it was confirmed to Express that the Bailiff recognised Deputy Taylor as the current VP, not Deputy Dyke.
03/28/2023
Conversion of an Exempted Company to an Exempted Limited Liability Company
Before proceeding with a conversion, persons are advised to consult their tax, legal and other professional advisers in their respective jurisdictions.
03/28/2023
CSSF Updates SFDR FAQ
On 2 December 2022, the CSSF issued the first iteration of its FAQ in order to provide further clarity on certain aspects of the SFDR.
03/27/2023
Cayman Court of Appeal Provides Important Guidance on Leave to Appeal to the Privy Council in Re Changyou.com Limited
The Petitioners sought the Grand Court’s appraisal of the fair value of their shares pursuant to section 238 of the Companies Act.
03/27/2023
Time is running out – investment business registration
By way of background, the Amendments to the Bermuda investment business regime widened the Authority's scope of supervision over investment businesses and as a result, new categories of registered persons were introduced.
03/27/2023
Guernsey’s new secondary pensions law - key points and FAQs
The minimum level of contributions will initially be 2% of earnings, with at least 1% paid by the employer.
03/27/2023
Central Bank Industry Letter on Fund Costs and Fees
The CSA consisted of three distinct phases comprising the issuance of a qualitative and quantitative questionnaire to UCITS management companies ("UCITS Mancos"), a desk based review and virtual inspection calls.
03/24/2023
Chubb unveils new oil/gas extraction underwriting criteria
The underwriting criteria for oil and gas extraction are part of an ongoing collaboration and consultation with environmental stakeholders and experts.
03/24/2023
FTX chief’s $460m deal with Bahamas fund firm
The monies came from Alameda Research, the private trading vehicle owned by FTX co-founder Sam Bankman-Fried, whose investments were heavily financed by funds misappropriated from the crypto exchange’s clients without their knowledge.
03/24/2023
Regulatory Sandboxes - What are their merits?
Guernsey has a long history of innovation.
03/23/2023
An introduction to Jersey LLCs
The Jersey LLC regime came into force following the adoption of the Limited Liability Companies (Jersey) Law 2018
03/23/2023
Proliferation and Proliferation Financing in Guernsey
In 2020 the FATF revised its Standards to require countries, financial institutions, designated non-financial businesses and professions and virtual asset service providers to identify, assess, understand and mitigate their PPF risks.
03/23/2023
JFSC grants licence to Consilium
Serving the international financial services community is a key part of our strategy, which is why we have invested in this area.
03/23/2023
GCRA Action saves Guernsey property buyers £13.2 million
The Guernsey Competition and Regulatory Authority (GCRA), in line with similar bodies, looks to review the benefits of its role in the market post its interventions.
03/22/2023
Phased implementation of new fees for financial regulation and oversight
Extensive engagement has taken place in order to develop a simplified, proportionate and more sustainable funding model that aligns with international best practice, while being mindful of the Island’s competitive position.
03/22/2023
Guernsey mandatory secondary pensions set for July 2024
Employees will have the option to opt out of the arrangements if they choose to.
03/21/2023
Cayman regulator issues statement about failed Silicon Valley Bank
The Authority is carefully monitoring developments in the market and will take the necessary actions if and when necessary.
03/21/2023
Revised ELTIF Regulation Published in the Official Journal
ELTIFs will allow retail investors the opportunity to invest in companies and projects that need long-term capital