08/18/2023
CTAWU negotiates salary increase for BOSVG workers
The increase is distributed over the three year period – two per cent for the period 2021 – 2022; 2 percent for the period 2022 – 2023, and 4 percent for the period 2023 – 2024.
Regulation, Risk & Compliance
08/18/2023
Regulator fines FLOW $400,000 for breaching terms of licence
The regulator has now issued a final determination imposing a fine on FLOW of $400,000 for the unapproved price increase and delivered a warning for the data reporting breach.
08/17/2023
Vesttoo says non-Israel employees are not under suspicion in fraud
Vesttoo can confirm that the federal court in New York has removed the temporary restraining order freezing the company’s accounts on the 15th of August
08/17/2023
ESMA Statement on Expected Sustainability Disclosures in Prospectuses
The Statement further clarifies that the prospectus should provide the basis for any statements concerning the sustainability profile of the issuer or of the securities issued.
08/17/2023
Carey Olsen claims a positive 2023, so far
First, Carey Olsen acted for its long-standing client Industrials REIT Limited, in a deal valued at £511.2 million.
08/17/2023
Progress on implementation of the Irish ELTIF 2.0 offering
Irish Funds has confirmed that the Central Bank proposes to create a standalone ELTIF chapter of the AIF Rulebook
08/16/2023
US and Bermuda regulators to discuss long term re/insurance
The panel will discuss topics such as the global protection gap that exists in the availability of pension benefits, the influx of capital into the sector, and cross border reinsurance.
08/16/2023
Half wouldn’t work somewhere that didn’t offer flexible working
“As companies witnessed the success and productivity of their employees working from home, many realised the potential benefits of flexible working arrangements beyond the pandemic.”
08/16/2023
New Fiscal Policy Panel to provide independent assessment of Funding & Investment Plan
The F&IP will address how it intends to finance those projects alongside the States’ other essential strategic and policy work and the funding of day-to-day public services.
08/15/2023
Overview of the New Cayman Islands Restructuring Officer Regime
With the benefit of the breathing space under the new regime, it allows corporate entities to promote and implement a restructuring
08/15/2023
September seizures for property tax delinquents
We should have done it already.
08/15/2023
Regulator tells banks closure practices are “unacceptable”
Lenders have been encouraged to converse with the regulator if they have any concerns with local rules or guidance
08/15/2023
Migration of foreign limited partnerships into Jersey
The Regulations permit a foreign limited partnership to continue in Jersey as a limited partnership under the Limited Partnerships (Jersey) Law 1994, provided certain conditions are met.
08/15/2023
Trustees and other fiduciaries – consideration of Guernsey's lending, credit and finance law
As a reminder, the purpose of the LCF Law is to regulate consumer credit and finance business
08/15/2023
An overview of Jersey funds: Comparative table
All funds are subject to Jersey's internationally compliant laws and regulations in respect of the prevention and detection of money laundering and the financing of terrorism.
08/14/2023
BMA registers four new insurers
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.
08/14/2023
Blacklist escape 'very big deal' for insurance
The Government has voiced optimism that The Bahamas will be removed from the EU's blacklist in October, which is vital to the Bahamian insurance industry securing continued German reinsurance support.
08/11/2023
Cayman Court reaffirms requirements for sanctioning a scheme of arrangement
The purpose of the scheme was to privatise and de-list the Company from the Hong Kong Stock Exchange.
08/11/2023
Cayman’s crypto crime wave
The Cayman Islands Bureau of Financial Investigation was created to meet international pressure for the island to be more proactive in fighting global financial crime.
08/11/2023
Regulatory & Risk Advisory Review: Cayman Islands – May to July 2023
We have also included some recent articles from the wider Conyers team which provide further insight into industry trends and market news.