Managers of Wealth Offshore

BAHAMAS: Ministry's 400 Questions Over Substance Reporting

The penalties for non-compliance are quite high given the seriousness of the legislation

Commencement of the Virtual Assets Service Providers (VASP) Regime

Entities which are engaged in or wishing to engage in virtual asset services and are currently holding a license granted by CIMA under another regulatory authority must notify CIMA under the VASP Law.

Litigation funding in the Cayman Islands – The new Private Funding of Legal Services Act

Prior to the new Act coming into force, both contingent fee agreements between attorneys and litigants and funding agreements between third party funders and litigants require the approval of the court

COBOs to be reissued following new Financial Services (Disclosure and Provision of Information) (Jersey) Law 2020

Information reported on beneficial ownership will not be made publically available without further changes to the law.

€272.5m GDPR fines imposed by European regulators

The figure is taken from the law firm’s latest annual General Data Protection Regulation fines and data breach report of the 27 European Union Member States plus the UK, Norway, Iceland and Liechtenstein.

Walkers Receives Highest Ranking in Regulatory and Compliance

Walkers' Global Regulatory & Risk Advisory group is led by Cayman Islands partner Lucy Frew and is the largest dedicated offshore practice of its kind, with 20 dedicated regulatory lawyers across the globe.

2021: What lies ahead in the world of data protection?

The best advice in this regard is to adopt a transparent and consistent approach, yet also being prudent and careful in light of issues that can arise with over-disclosure.

Liquidity Boosted by Loyalty: Creative Collateral

Revenue from the sale of miles has remained stable even at times when demand for flights has dipped.

Mandatory Disclosure Rules update in the Crown Dependencies

Following the UK repeal of DAC6.

The Right to Work Remotely and the Right to Disconnect in Ireland - Is the Home Office here to stay?

The Strategy envisages enhanced tax incentives for home workers and investment in remote working hubs as well as an acceleration of the national broadband strategy.

CIMA warns unregistered directors

CIMA said it would consider the lack of communication when assessing whether a director is fit and proper to act in connection with a regulated fund or other licensees, as well as in future applications.

2020 – a year of challenge and increased sophistication for captives

The level of interest in Guernsey throughout 2020 has been massive.

BMA registers 67 insurance entities in 2020

The Bermuda Monetary Authority registered ten new re/insurance entities in December, taking the total number of registrations for 2020 to 67.

BAHAMAS: Governor In Bank Fee 'Transparency' Pledge

The Bahamas has to achieve more significant development of non-bank channels to direct capital to the private sector, exploiting channels that the securities industry might promote.

The Regulatory webcast - Maples Group

Listen to our latest regulatory webcast.

KPMG announces Channel Islands and Isle of Man merger

The new practice is wholly owned by its local partners who will continue to make decisions quickly that are right for our jurisdictions.

HSBC introduces monthly €5 fee for banking services

Low earners, pensioners could be impacted, Consumers' Association warns

Update on Pension Regulation in Jersey

The Government of Jersey announced in December 2020 that the phased introduction of regulation of private pensions provided by local financial services businesses is to proceed following two consultations on the matter in 2018 and 2019

Harneys advises Equatorial Palm Oil

CML was incorporated in 2015 to acquire licenses prospective for mineral sands in Sri Lanka (the Project).

Non Voting members join Economic Development Committee

They will be fully involved in all work that goes on with the Committee, but will not get a vote on political issues or decisions.

Regulation, Risk & Compliance