09/28/2021
Irish Regulatory Framework for Real Asset Depositaries
It sought feedback from industry on the proposed regulatory framework and earlier this year issued its long awaited guidance1 on the regime.
Regulation, Risk & Compliance
09/28/2021
Jersey employers take note: statutory redundancy and minimum wage increases
This is an entitlement enshrined under the Employment (Jersey) Law 2003, as amended and is an obligation imposed on all employers to pay to their employees in the event of redundancy.
09/28/2021
Isle of Man FSA bans two directors from regulated activity
The directors of IF Ltd, Mr Christopher Stirk and Mr Christian Burton do not hold the requisite licences in their own names to undertake any regulated activities in or from the Isle of Man or hold themselves out as doing so.
09/28/2021
INSOL Channel Islands Conference 2021 – Round-up of key points
The seminar, which provided a welcome opportunity for insolvency practitioners and advisers to reconnect in person, showed why Jersey and Guernsey remain leading locations for structuring complex financial transactions and for the secured lending market.
09/27/2021
Financial Stability Board consultation
The proposals involve providing the FSB with legal gateways and duties to enable it to operate more effectively
09/27/2021
UBS notes postponed verdict in 4.5 bln euro French tax case
UBS noted a decision by French judges to postpone their ruling on the Swiss bank’s appeal against a 4.5 billion euro ($5.27 billion) fine imposed for helping wealthy clients stash undeclared assets offshore.
09/27/2021
Irish Regulatory Framework for Real Asset Depositaries
The Central Bank’s guidance states that a DAoFI may only be appointed to act for authorised AIFs which are qualifying investor AIFs
09/24/2021
The Financial Services Commission of Mauritius issues the Financial Services (Crowdfunding) Rules 2021
In effect, the Crowdfunding Rules legitimate the operation of a crowdfunding platform in Mauritius and provide for its modus operandi.
09/24/2021
Under examination: BVI and Cayman regulatory inspections
They also allow for jurisdictions and products to remain competitive and attractive to clients who are looking for reliable
09/23/2021
Central Bank of Ireland Review Identifies Market Abuse Deficiencies
In July 2021, the CBI issued a Dear CEO Letter (the "Letter") setting out its findings and expectations arising from the review.
09/23/2021
BVI Commercial Court guidance on adverse inferences relating to the non-disclosure of lawyers' documents
The Claimants formed a consortium with CPE Fund Management Limited and on 7 December 2020, made a non-binding offer to acquire all outstanding shares of the Company for $15.47 per share (the Proposal).
09/23/2021
Guernsey introduces new compliance measures for CRS and FATCA reporting
This briefing note provides a summary of those strategies and will be of interest to those operating in the finance industry and compliance sector.
09/23/2021
Collas Crill Explains... Changing the Proper Law of a Guernsey Trust
Consequential amendments – most provisions that allow for the proper law to be changed also allow consequential amendments to be made to the trust instrument when the power to change the proper law is being exercised.
09/23/2021
Under examination: BVI and Cayman regulatory inspections
The major regulators The Financial Services Commission (FSC) in the BVI and the Cayman Islands Monetary Authority (CIMA) in the Cayman Islands are the principal financial services regulators that are tasked with supervising, monitoring and regulating the
09/23/2021
BVI Economic Substance – ITA Commences Audit Process
The questions raised by the ITA in these audit requests have included not only details of the business purpose, assets and day-to-day activities of the relevant entity, but also details as to what steps the entity took in order to make its determination a
09/23/2021
Financial Crime Focus
The proposal sets the threshold for cryptoasset transfers at GBP 1,000 so it will therefore be necessary for firms to calculate the value in GBP of, for example, a transfer of Bitcoin or Ethereum.
09/22/2021
Advisers warned over compliance as HMRC writes to non-doms
Ashford added that in the past five years HMRC has heightened its focus on cracking down on so-called ‘enablers’.
09/22/2021
Regulator assesses risk of local non-profits being used for financial crime
The data will help determine the JFSC’s approach to supervising non-profit organisations, particularly those that are considered more vulnerable.
09/22/2021
Jersey’s Government Plan and the proposed budget changes – how it will impact you
“This, the final Government Plan of our term of office, maintains our commitment to the priorities we set at the start of this Government’s term of office"
09/22/2021
Revised Work Safely Protocol For Employers And Workers In Ireland
Continuing our Recovery and Reconnecting' guidance roadmap.