08/01/2023
Quarterly round-up of the recent investment funds updates in Guernsey
The Commission’s latest annual report highlights the increased risks faced by the financial services sector
Regulation, Risk & Compliance
07/31/2023
Cayman mortgage rates going up again
There’s some temporary respite for homeowners, already struggling to cope with rocketing mortgage repayments
07/31/2023
Fundraising slowdown and the rise of private credit
In a bid to stem rampant inflation, central banks across the world have been busy raising interest rates.
07/31/2023
Bermuda Public Companies Update, Summer 2023
Global merger and acquisition deals suffered a record decline in the first half of 2023.
07/31/2023
Update to Jersey's law on the probate offence of intermeddling
It is not obligatory to release estate up to £30,000 without a Grant
07/31/2023
Central Bank discussion paper on a macroprudential policy for investment funds
The purpose of this Paper is to advance the debate on a potential future approach to the development and operationalisation of a macroprudential framework for the investment funds sector.
07/28/2023
Luxembourg Investment Fund Changes
The Law amends the four laws currently regulating investment funds, more commonly known as the 'product' laws.
07/28/2023
Government to set up climate change authority
After power cut crisis, Prime Minister announces government will be doubling its investment in the country’s distribution network
07/28/2023
Bahamas’ public service payroll system leaks millions in overpayments
Wilson shared that there are instances of employees who have been receiving a paycheck for decades, even though there is no record of their service or productivity.
07/28/2023
St Kitts and Nevis announces further monumental changes to its Citizenship by Investment Programme
All background due diligence checks will be commissioned by the Citizenship by Investment Unit
07/27/2023
Guernsey States staff to get 5.8% pay rise in 2024
The States announced the RPIX between April and June was 6.8%, 0.2% lower than June 2022.
07/27/2023
Clarien and Butterfield raise rates, HSBC holds for now
Its move comes as central banks globally raise the cost of money in the battle with inflation, with consumers struggling to make ends meet as prices remain elevated and in some cases continue to rise.
07/26/2023
Scotiabank named NHT's newest mortgage financing partner
The NHT expects this list of institutions to increase in the weeks ahead, as it wraps up negotiations with other mortgage partners.
07/26/2023
BVI litigation briefing: Significant changes to court rules governing service out of the jurisdiction come into effect from 31 July 2023
The changes are expected to substantially improve the efficiency of progressing claims against foreign parties by removing some of the more burdensome hurdles previously encountered in the early stages of such proceedings.
07/26/2023
Commission consults on fees for 2024
The Commission is consulting on an overall increase in fees of 7.3%.
07/26/2023
Vesttoo says compliance procedures were circumvented
Henderson had previously worked at insurtech Stable, ILS fund Peak Capital and as underwriter at PartnerRe and Brit Insurance.
07/25/2023
BVI delegation visits UK parliament to strengthen relations
The group was accompanied by Clerk of the HOA Phyllis Evans, Public Relations Officer Linton Leonard and Acting Director of the BVI London Office, Tracy Bradshaw.
07/25/2023
Valuation policy for non-retail investment funds
A valuation policy should not be seen as a burden, but rather as a tool that increases clarity
07/25/2023
Probity, sanctions and conduct – review of a challenge to GFSC enforcement powers
The issuance of the Decision itself and the subsequent publication of the Prohibition Orders relating thereto on the GFSC website was also brought into focus.
07/25/2023
Distributions, share purchases and redemptions under the BVI Business Companies Act
This guide examines the key aspects of distributions, share purchases and redemptions by a BVI company under the Act.