11/13/2020
Spotlight Report – Emerging themes in our funds markets
Aside from COVID-19, Brexit lingers as a significant force impacting the global funds market, particularly the EU.
11/13/2020
Privy Council approves constitutional changes
Under the amended Constitution, the Cayman Islands will become the third British Overseas Territory to have a legislative body known as Parliament.
11/13/2020
The CIWMA intends to liaise with local and international industry associations and build alliances with bodies such as the Personal Finance Society, the Chartered Institute of Security and Investment and the Institute of Directors.
11/12/2020
The court approved of the release of debt owed by primary obligors which were not themselves subject to the scheme – provided that there is a "sufficient nexus" between the guarantee liabilities and the primary obligations.
11/12/2020
Information Notice has brought clarity to industry's questions over investment into cannabis assets by Guernsey structures
The position taken by the States of Guernsey in relation to cannabis investment follows the approval by the Assembly in June 2019 that businesses can grow and process cannabis in Guernsey for medicinal uses.
11/11/2020
The Bailiwick of Guernsey’s movement was possibly easier than some, given that the move was not much more than a shift from de facto to de jure requirements on substance.
11/10/2020
Bill To Create Bermuda National Digital Bank
The reform of banking laws will increase competition in this sector, introducing new classes of banks to Bermuda to boost the economy, and harmonising the Bermuda base rate charged by local banks while working with these banks to reduce the interest rates
11/10/2020
Whether or not this has fully sunk in, the Channel Islands regulators and international standards setters have certainly grasped it.
11/10/2020
In a September 2019 analysis, the EU found Cayman’s framework for funds was inadequate in three of the four pillars and that there was not enough information to assess the remaining one relating to supervision and enforcement.
11/10/2020
Some members were also worried that government might not listen to the industry’s concerns, regardless of the consultation.
11/09/2020
FCA gives green light to Conduit Holdings
For the first time in a long while we think a well-capitalised new entrant can come into the market and successfully target quality business in scale and at historically attractive rates.
11/09/2020
The Cayman Islands Pass Laws To Regulate Crypto Service Providers
The proclaimed standards went into power on October 28, 2020.
11/09/2020
Brexit Update: Countdown to the End of the Transition Period
In the midst of COVID-19, it has been tempting to push Brexit to the back of our minds as people and businesses alike struggle to survive this difficult period.
11/08/2020
The DITC Portal will open in early November for CRS and FATCA purposes with Economic Substance Reporting and CbCR to follow.
11/08/2020
BML will not take into account the months from April through June as "many businesses were negatively impacted due to the lockdown period".
11/06/2020
“It shows that we are embracing the digital assets space, the Blockchain and crypto space and also provides us an avenue to new industries, which we really need. It’s going to be a big win for us.”
11/06/2020
A key intention in the introduction of the Fiduciary Rules is to consolidate and strengthen the existing regulatory framework, to replace existing GFSC Codes of Practice and bring the regime into compliance with the Group of International Finance Centre S
11/05/2020
Barbados governor hits back at AML ‘blacklisting’
Cleviston Haynes told journalists the central bank was “concerned” about the “pernicious” impact of the blacklisting by the EU
11/05/2020
New rules expected to boost virtual assets sector in Cayman Islands
The new rules are expected to boost business in the sector by allowing the supervision of businesses providing services in the arena and help Cayman meet the latest recommendations from the Financial Action Task Force.
11/05/2020
The Convention will become effective on 1 January 2021 for over 600 treaties concluded among the 56 jurisdictions, with an additional 1200 treaties to become effectively modified once the MLI will have been ratified by all Signatories.