07/22/2020
BVI issues guidance on regulation of virtual assets
The Guidance clarifies whether certain types of virtual asset product and their related activities are captured under the existing financial services legislation;
Regulation, Risk & Compliance
07/22/2020
Guernsey Financial Services Commission issues discussion paper on Guernsey funds framework
Update prepared by Frances Watson (Partner, Guernsey) and Annaliese McGeoch (Associate, Guernsey)
07/21/2020
Probe utility’s offshore accounts
The offshore accounts owned by PECO and the Cacho family
07/21/2020
Practice makes Perfect – what's next for Jersey schemes of arrangement?
Issues relating to the conduct and classification of shareholder meetings will therefore remain a primary consideration at the directions hearing for Jersey schemes, as has been the case in the past.
07/21/2020
Additional requirement under the private funds regime to manage and monitor potential conflicts of interest
The Cayman Islands government has expanded this specification to require the private fund to also manage and monitor any such conflicts of interest.
07/21/2020
Ireland | PD3 – Practical Insights
In our experience, the above risk factors may be challenged as to whether they are statements of fact rather than actual material risk factors directly related to the transaction in hand.
07/21/2020
Process for listing debt securities on the Official List of The International Stock Exchange (the “Exchange”)
This note includes information relating to the listing process and listing documentation requirements of The International Stock Exchange Authority Limited (the "Authority").
07/21/2020
Urgent: Check if definition changes mean your Private Fund needs to register with CIMA by 7 August 2020 deadline
The Amendment makes changes
07/21/2020
CJEU on data protection: Privacy Shield is dead; standard contractual clauses valid (with conditions)
In its judgment, the CJEU declared that the EU-US Privacy Shield (Privacy Shield), a mechanism used to legitimise of data from the EU to the US, is invalid.
07/21/2020
House: pay cuts will save nearly $500,000
The suspension of pensions contributions for members of the legislature was expected to deliver a $500,000 saving.
07/21/2020
Constellation: a dazzling success for BVI restructuring
This briefing first appeared in the June 2020 edition of South Square Digest.
07/21/2020
ESMA Discontinues its 'Brexit Leveller' Committee
On 29 May 2020 the European Securities and Markets Authority ("ESMA") announced the winding down of its Supervisory Coordination Network.
07/21/2020
Walkers' Ireland advises on first catastrophe bond programme through an Irish Solvency II MA SPV
Walkers was delighted to assist UnipolSai in launching the first multi-arrangement catastrophe bond programme approved by the Central Bank of Ireland.
07/21/2020
New Rules Around the Disclosure of Beneficial Ownership in Jersey: What You Need to Know
Of particular note the Law will apply to Foundations, which currently fall outside the scope of the Control of Borrowing (Jersey) Order 1958 (COBO).
07/21/2020
Jersey anticipates fund migration uptick following change to Limited Partnership rules
"This amendment makes it easier for managers to migrate their structures from elsewhere in a quick, cost-effective manner so that they can benefit from Jersey's ideal alternatives ecosystem. We anticipate a strong uptick in fund relocations foll
07/20/2020
UK Trust Register - final rules published
These regulations clarify some of the uncertainties raised by the previous draft regulations and accompanying consultation document which were issued in January this year.
07/20/2020
Cyprus: Thousands of NGOs face purge if not properly registered, minister says
Nouris said there were over 7,000 NGOs operating in Cyprus, and only 2,000 had their documentation up to date with his ministry.
07/20/2020
MALTA: 10,000 companies taken off registry
The idea is that all directors and shareholders of businesses will now be screened before being allowed to operate in Malta.
07/20/2020
Switzerland and Cyprus sign protocol of amendment to their double taxation agreement
It still has to be approved by the legislator in both countries before it can come into force.
07/20/2020
Oran Hall | Approved Pension Arrangements A Safe Option For Retirement Income
Because all approved pension arrangements are established as trusts, they must have a trust deed, which is a contract between the sponsor and the trustees to manage them according to certain stated conditions.