05/17/2022
Over £1bn of Russian assets frozen in Jersey
While less than £5m has been seized in Guernsey
Regulation, Risk & Compliance
05/17/2022
US tops financial secrecy ranking as G7 countries upend global progress on transparency
The G7 countries’ undermining of global transparency has further fuelled calls by leading economists for a UN tax convention
05/17/2022
BMA extends data call deadline
Upon closer review, questions five to six requesting details of other internationally-sanctioned jurisdictions are not relevant for this exercise; therefore, the Authority has omitted these sections.
05/17/2022
Close-out netting and set-off provisions for BVI, Cayman Islands, Guernsey, Jersey and Luxembourg counterparties
As a result, financial institutions are reacquainting themselves with protectionist financial contracts, for example, interest rate hedging and swap contracts.
05/17/2022
EU Proposal for further interest limitated rules - the impact on international business
The implementation and final form of the draft Directive is subject to unanimous consent by all EU Member States.
05/16/2022
A Brief Guide To Statutory Demands And Applications To Set Aside Statutory Demands In The BVI
Under section 8(1)(a) of the Act, a company or a foreign company is insolvent if it fails to comply with the requirements of a statutory demand that has not been set aside under section 157.
05/15/2022
Top 'Take-Aways' from the 2022 Mourant Regulatory Conference
Minister Ebanks highlighted the Cayman Islands Government's significant progress
05/13/2022
Rediscovering Share Trustee Services
Regulatory and legislative change, including the US Volcker Rule, has also incentivised the use of share trustees over recent years.
05/13/2022
New Restructuring Officer Regime to be introduced in the Cayman Islands during 2022
During the course of 2022, Part V of the Cayman Islands Companies Act (the "Companies Act") will be amended to introduce a new restructuring officer regime available to companies in financial distress, which can be accessed without the need to p
05/13/2022
British Virgin Islands Regulatory Obligations and Filing Deadlines 2022
Asset allocation details are also required, but there is no need to set out specific details of individual investments.
05/13/2022
The Commission joins the Taskforce on Nature-related Financial Disclosure Forum
As a member of TNFD Forum, the Commission intends to contribute to the TNFD’s ongoing innovative work
05/13/2022
CRS deadlines for 2021 reporting year extended and reminders issued
The extension is as a result of unplanned technical maintenance.
05/12/2022
GFSC publishes report on compliance
The field work by the GFSC predates the conflict and thus has not assessed the hard work firms have put into implementing sanctions brought into effect as a consequence of the Russian invasion of Ukraine.
05/12/2022
Ukraine adds pressure to Malta over golden passports, Finland to join Nato without delay
"This has long been more than just business in Russia, but the structures associated with the aggressive Russian state."
05/12/2022
Snapshot: obtaining indemnity costs against a litigant in Jersey
Ogier successfully appeared for BDO and Creditforce, and obtained an indemnity costs order against a trustee previously found to have misappropriated trust assets.
05/11/2022
Deloitte holds top funds position
The latest results from the Jersey Financial Services Commission, report the net asset value of regulated funds under administration in Jersey, stood at £440.1bn at the end of Q3 2021.
05/10/2022
New Charities Law to be introduced in Guernsey
Guernsey is introducing legislation to regulate the charitable sector.
05/10/2022
Apex Group continues relationship with Aizawa Asset Management for latest secondary fund
This announcement is the latest in a series of high profile appointments for Apex in the thriving Japanese alternative investment market
05/10/2022
Additional liquidator appointed to mitigate conflicts of interest in the winding of a Cayman SPC
The Grand Court's decision on the application helpfully sets out how recoveries
05/10/2022
Pandora Papers shed light on ‘gatekeepers’ of dirty money
MONEYVAL rebuked governments across Europe for failing to combat money laundering or police lawyers, accountants and other professionals who facilitate financial crime.