03/23/2021
Walkers Advises Venture Capital Firm Openspace Ventures on its Launch of Third Southeast Asia Fund
The Walkers team was led by Singapore-based Timothy Stevens
Regulation, Risk & Compliance
03/23/2021
Launch of myRegistry Reinforces Jersey’s Role in Global Transparency Agenda
The launch of the Jersey Financial Services Commission’s new fully digital online registry has been welcomed by Jersey Finance as an illustration of the jurisdiction’s progressive approach to governance and fighting financial crime.
03/22/2021
Proposed annual leave increase and daily rest breaks for employees in in Jersey
A 15-minute rest break in any work period of six hours or more
03/21/2021
Financial Conduct Authority refuses to hand over Neil Woodford probe to independent investigator
Wealth manager St James’s Place ended its contract with Woodford to manage three of its funds.
03/19/2021
Digital identity for online govt services expanding with launches and new plans on four continents
Delaware launches Idemia mobile driver's licenses, Bluink's eID-Me now available across Canada
03/19/2021
AML: EU blacklisting of Cayman to come next
The EU last year changed the methodology for its list of high-risk third countries that are deemed to have strategic deficiencies in their anti-money laundering and counter-terrorism financing regime.
03/19/2021
FATF issues Guidance on the risk-based approach for AML/CFT Supervisors
The Guidance notes that Anti-Money Laundering/Countering the Financing of Terrorism (AML/CFT) supervisors play an essential role in protecting the financial system
03/18/2021
OfReg issues regulatory framework for local internet exchange points
The main purpose of an IXP is to enable networks to interconnect directly rather than via one or several third-party networks. This reduces cost, latency and the need for bandwidth.
03/18/2021
Groundbreaking New Provisions in Variation of BVI Trusts
This amendment has been made by the Trustee (Amendment) Act, 2021 which adds a new section, 58B, to the BVI’s Trustee Act.
03/18/2021
Five development projects worth RM9.63 mln for Labuan in 2021
The new project for this year will be the new cell sanitary landfill and upgrading works on the leachate treatment plant worth RM2 million, revised from the estimated cost of over RM31.68 million.
03/18/2021
Establishment of Manx Development Corporation Approved by Tynwald
The proposals to Tynwald included the provision of a Council of Ministers sub-committee, the ‘Brownfield Regeneration Steering Group’
03/18/2021
£550,000 fine for Jersey trust company demonstrates importance of effective and consistent anti-money laundering procedures
LGL established the partnership and incorporated two Jersey companies to act as limited and general partner.
03/17/2021
Offshore Business Update: British Virgin Islands
The British Virgin Islands (BVI) Government has taken proactive measures which are designed to control, suppress and prevent the spread of COVID-19 by restricting access to the BVI and encouraging social distancing.
03/17/2021
Guernsey says that it is scrutinizing Cayman business relationships
At the same time an instruction is issued to all specified businesses specifying the steps to be taken before the end of September 2021 in respect of business relationships they have which are connected to the Cayman Islands."
03/17/2021
Guernsey agrees business support measures for Stage 3 of lockdown exit
For those sectors which continue to be eligible for support in Stage 3, the Committee has agreed that support should continue until the end of June 2021.
03/17/2021
Linklaters advises BC Partners on its investment in Davies
The Linklaters team was led by Partner Ben Rodham with Lauren Bretton
03/17/2021
BVI Introduces Significant New Trust and Estate Legislation
The recent Trustee (Amendment) Act builds on the earlier reforms to the original Trustee Act which were made in 1993, 2003 and 2013.
03/17/2021
Further Amendments to the BVI’S Trust and Estate Legislation 2021
The Administration of Small Estates (Amendment) Act implements a long overdue increase in the qualifying value for the Administration of Small Estates Act.
03/16/2021
Irish Regulation in Focus: Culture and Individual Accountability
The Central Bank expects firms' actions to be aligned with the expectations of its customers/investors and will take action where it believes firms (and senior management) are falling short of this expectation.
03/16/2021
The EU Sustainable Finance Disclosure Regulation (SFDR) is live – what can we expect?
SFDR can be summarised as follows: the regulation is intended to contribute to the higher goal of transitioning the EU to a low-carbon