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.
Regulation, Risk & Compliance
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
03/21/2023
UK Privy Council declines to hear family's challenge to lifetime transfer into trust
However, before his death in 2015, Perry transferred the company into a Liechtenstein discretionary trust, in which neither his wife nor daughter had a proprietary interest.
03/20/2023
BMA issue guidance notes on insurers’ climate change risks
The requirements are to be phased in, beginning with year-end 2022 reports.
03/20/2023
Eastern Caribbean Central Bank wins award
It also received a commendation for the wide range of topics discussed, the diversity of the guests, and the inclusion of citizens from across the Eastern Caribbean Currency Union (ECCU) in the programs.
03/20/2023
Cash or Security: The Cost of an Interim Injunction in BVI Proceedings
The cross undertaking in damages contained in the WFO was not fortified.
03/20/2023
Limited partners' statutory right to information concerning a Cayman Islands exempted limited partnership remains wide and unqualified
On 10 March 2023, the Honourable Justice Parker handed down his decision
03/20/2023
BMA issues expectations on insurers’ climate change risks
The requirements are to be phased in, beginning with year-end 2022 reports.
03/20/2023
Guidance concerning the disqualification of a person from acting as a director
The most common way the AG will become aware of any disqualification triggers would be through the JFSC
03/17/2023
TrueUSD Moves $1B in Reserves To The Bahamas After U.S. Banking Failures
“The funds are with the US, but we need to use an offshore bank to achieve that.”
03/17/2023
Irish FinTech Regulation Focus 2023 - Six Key Areas
This sector continues to see significant growth
03/17/2023
Barbados to resume offshore licensing process in April
The prime minister added that there is the possibility of entering into bilateral partnerships to tap the hydrocarbon resources.
03/17/2023
Carrying on business in the Cayman Islands
The guide below sets out the process and procedure to apply for a trade and business licence and, where applicable, a licence under the Local Companies (Control) Act (as amended).
03/16/2023
Bank industry warns of phishing scams
To avoid phishing scams, do not respond to e-mails or pop-up messages asking for personal or financial information.
03/16/2023
Amendment to Matrimonial Causes Act Brings No-Fault Divorce to Bermuda
These amendments have brought a welcome end to the divorce “blame game” that was required under the old legislation.
03/15/2023
Cyber protection gap much bigger than nat cat
The report also provides an overview of the wide range of potential levers that can be used by a broad variety of stakeholders to address the gaps.
03/15/2023
Jersey Limited Liability Company (LLC) legislation to enhance pan-Atlantic business for US fund managers.
A Jersey LLC is a corporate entity with limited liability of its members.