02/16/2022
EU reviewing Annex II: Potential inclusion of BVI and Bermuda
Inclusion on the list means that the EU monitors for progress towards addressing the recommendations by the required deadline.
Regulation, Risk & Compliance
02/16/2022
Central Bank's Securities Markets Risk Outlook Report and Key Areas of Focus for Funds and their Service Providers
This report outlines the Central Bank's supervisory priorities for securities markets in 2022 and also highlights conduct risks that the Central Bank has identified as key for securities markets.
02/16/2022
MEPs want ban on golden passports and strict rules on residence-by-investment
Malta’s citizenship-by-investment scheme is increasingly being targeted by strong MEP stance on golden passports and visas
02/16/2022
Update: Expansion of the Jersey Insolvency Toolkit
The adoption of the Companies (Amendment No. 8) (Jersey) Regulations 2022 (Regulations) [last week] brings welcome changes to Jersey’s insolvency toolkit.
02/16/2022
Guernsey organisations need to register for data protection this month
The online process is straightforward and has a three-tier payment structure
02/15/2022
A major development of the creditors' winding up regime in Jersey
The Amendments enhance and protect the interests of creditors and are based upon principles and practices widely recognised in other insolvency regimes.
02/14/2022
Labuan now focusing on managing Covid-19
The new normal does not mean the Covid-19 pandemic has ended.
02/13/2022
What happens in the Bahamas... Vijay Mallya saves his signature London home - again
A favourable ruling by the Supreme Court of Bahamas on February 11, 2022, unlocks trust funds, means that UBS can redeem the mortgage on the house and any associated interest.
02/11/2022
JFSC: We have changed our decision making process for regulatory sanctions
Our proposal focused on streamlining how we reach these decisions for imposing regulatory sanctions
02/11/2022
Accuro expands commitment to matters of equality
Menopause awareness is not well understood in most working environments and we want to do what we can to change this.
02/10/2022
New listing regime for SPACs in Hong Kong – an offshore perspective
The new Hong Kong SPAC listing regime seeks a balance, introducing relatively stringent requirements for the quality of both listing candidates and also de-SPAC targets, addressing the commercial needs of SPAC sponsors whilst also raising the bar in terms
02/10/2022
Corporate Criminal Liability for Failure to prevent Money Laundering
The Financial Action Task Force (FATF) Methodology requires jurisdictions to demonstrate that money laundering offences and activities are investigated, and offenders are prosecuted and subject to effective, proportionate, and dissuasive sanctions.
02/09/2022
Proposed Addition of the Cayman Islands to the EU’s High Risk Third Countries List (the “EU AML List”)
There was a 30-day scrutiny period within which the Council of the EU or the EU Parliament was permitted to object to this proposed revision of the EU AML List
02/09/2022
CLO Migration from the Cayman Islands to Bermuda
Walkers has agreed an expedited process with the BMA allowing for same day consent to be granted with respect to the migration of any Cayman CLO vehicle.
02/09/2022
Digital assets to be covered by anti-money laundering rules
Credit unions will also now be regulated by the regulations.
02/08/2022
GFSC issues consultation paper on Bailiwick Mind and Management in relation to the Fiduciary and Investment sectors
The Commission expects that licensees will ensure that there is a level of local oversight and management of operations within the Bailiwick commensurate with the scale and nature of the activity carried out.
02/08/2022
2021 Capital Markets Union package: review of the ELTIF Regulation
The ELTIF qualifies as an alternative investment fund (AIF) that allows professional and retail investors across the European Union (EU) to invest in companies and projects that need long-term, stable capital.
02/08/2022
EU AML update: solutions for affected Cayman securitisation entities
Regulations prohibits the establishment of securitisation special purpose entities (SSPEs) in countries listed on the EU AML blacklist
02/08/2022
A Practical Guide to Employee Benefit Trusts in Guernsey
UK companies frequently used offshore-resident trustees (such as Guernsey trust companies) in order to operate the scheme outside the scope of UK capital gains tax while still benefitting from UK IHT relief.
02/07/2022
NSM launches fund administration business in Guernsey
Between them they bring to the business more than 40 years of experience in fund administration, particularly share registration, corporate governance, valuation and fund accounting.