10/03/2021
Cayman Businesses find ways to cope with new regulations
Mueri said the crowd limitations have also caused mass cancellations of popular Christmas activities such as staff parties, galas and other private events.
Regulation, Risk & Compliance
10/03/2021
Cayman Government extends beneficial ownership consultation
A “beneficial owner” is a person who ultimately owns or controls an entity, although the entity may be held in another name.
10/01/2021
Central Bank of Ireland Proposes Changes to PCF Categories in Regulated Firms
This proposed change follows various other Central Bank PCF list updates, most recently in March 2020 (see our previous client update for further background).
10/01/2021
Private equity: downstream transactions in the financial services sector
In a private equity transaction, buyers and sellers need to be fully cognisant of the statutory change of control requirements in each of our jurisdictions.
10/01/2021
Covid-19 Ireland Update: Company Law Changes
This change is permanent.
10/01/2021
Federal Council initiates consultation on amendments to Anti-Money Laundering Ordinance
The proposed ordinance amendments serve mainly to provide more detail on the adopted measures.
10/01/2021
Businesses find ways to cope with new regulations
Mask mandates, limits to crowd size and social distancing requirements were first introduced in 2020, under the previous government as part of strict measures to prevent community spread of COVID-19.
10/01/2021
JFSC: Upcoming consultations, legislative updates and revised policies and guidance in 2021
As well consultations issued by the JFSC, we are working with the Government of Jersey to develop legislation that will ensure Jersey’s regulatory regime continues to meet international standards.
10/01/2021
Does dirty money need banking secrecy to thrive?
Recently uncovered suspicious transaction reports, made to the US Financial Crimes Enforcement Network (FinCEN), show Swiss banks moving billions of dollars around the world.
10/01/2021
Highlights on the Mauritius Financial Services (Crowdfunding) Rules 2021
In this highlight, we provide a brief summary of the crowdfunding rules, emphasizing the key points set out therein.
10/01/2021
Changing Attitudes
We have to have a jurisdiction where people want to move to the Island, work and spend money here.
09/30/2021
Isle of Man banking data leak reveals how sharing banking data can identify offshore strategies and improve beneficial ownership transparency.
No names or account numbers were shared, only the number of accounts based on the residence of the beneficial owner and other details. Results
09/30/2021
Listed Funds and the issue of ever-increasing Regulation
Regulators who may have been accused of being asleep at the wheel very quickly responded to political pressure by introducing requirements that now seem commonplace.
09/29/2021
MFSA issues warning about three different online entities
Two of those companies appear to be clones of legitimate ones, with the third appearing to be an unlicensed entity.
09/29/2021
Jersey employers take note: statutory redundancy and minimum wage increases
Redundancy: increase in the maximum statutory redundancy entitlement
09/29/2021
ESG/Sustainable Investments - How Jersey Law is Adapting to Fight Greenwashing
The Investment Business Code of Practice will also be similarly updated in due course.
09/28/2021
Guernsey to tighten CRS and Fatca reporting
As online registration becomes mandatory for all financial services firms
09/28/2021
Fiscal strategy report “broadly compliant” but issues over data quality and availability exist, notes council
The extent and quality of the sourcing of data are considered material deficiencies, notably the lack of national statistics for domestic income projections, including domestic income forecasts by its components.
09/28/2021
Head sought for bank failure watch group
Jill Britton, JFSC Director of Supervision, commented: “As the regulator, our role is to supervise banks, making sure they are operationally sound and minimising the likelihood of failure.
09/28/2021
Guernsey Bar hopefuls continue virtual attendance at University of Caen
Importantly, not only were all local firms and employers of aspirants supportive of the solution offered by Carey Olsen but the University of Caen and lecturer Sophie Poirey were equally pleased and excited to embrace the new Caen experience.