03/19/2020
Anti-Bartlett clauses: what are the lessons to be learned from Zhang Li?
Update prepared by Stephen Alexander (Partner, Jersey) and Tony Pursall (Consultant, London)
Regulation, Risk & Compliance
03/19/2020
DITC Activates Business Continuity Plan
The DITC, which falls under the remit of the Ministry of Financial Services, has contacted all external service providers to confirm their coronavirus contingency plans and obtain assurances of continuity of service.
03/19/2020
Eastern Caribbean Central Bank’s CBDC Could Beat China to the Punch in 2020
Later this year, the project will enter its second phase and transition to a six-month rollout across the Eastern Caribbean region.
03/19/2020
Senate approves coronavirus stimulus: Next stop – White House
The JCT has also released a technical explanation of the credit provisions.
03/18/2020
Malta urged to use golden passport funds to fight coronavirus
But economy minister deems move ‘unwise’
03/18/2020
Anyone travelling to the Bailiwick of Guernsey from anywhere in the world will have to self-isolate for 14 days
An exemption list for ‘critical roles’ to travel for reasons that are critical to the running of the Island will accompany this measure and is currently being prepared.
03/18/2020
Butterfield lowers rates, reviews fees and terms
The bank is also reviewing fee schedules and payment terms of certain other products and may make changes to provide additional relief to customers
03/18/2020
Government encourages use of online services
We want the general public to apply online for what services are available there and skip the lines.
03/18/2020
BMA offers one month filing extension to all insurers
The BMA also said it recognised the challenges around holding physical board meetings in Bermuda
03/18/2020
ESMA and CSSF guidance on the impact of COVID-19 on financial markets
Both ESMA and the CSSF have stressed the importance of maintaining an ongoing and active cooperation between national and European competent authorities.
03/18/2020
The use of Jersey companies in cash box structures
This guide describes some of the reasons for using cash box structures, how they work, and why Jersey companies are particularly well suited to cash box transactions.
03/18/2020
COVID-19 Emergency Business Support Measures to be Introduced
The first emergency support measures for businesses and workers affected by Coronavirus (Covid-19) have been announced today by the Isle of Man Government. The measures include the introduction of a National Insurance Holiday for employers in certain sec
03/17/2020
Three banks to lower lending rates
The bank will review each case on an individual basis to determine the most appropriate way to support customers that are facing particular challenges.
03/17/2020
Client Alert March 2020: Offshore Trustees Briefing Note
Year-end housekeeping for 5 April 2020
03/17/2020
New reforms in Seychelles aim to align tax rates for businesses
The report follows two consultative meetings held in Seychelles in July and October last year with all business sectors.
03/17/2020
A guide to GPUTs (Guernsey Property Unit Trusts)
This is different from the position with a company, where shareholders have no direct ownership interest in the company's assets.
03/17/2020
The implications of coronavirus on the aviation finance industry
Concern is rising generally for airlines, do they have enough liquidity to survive until the flight restrictions and corporate travel bans are lifted
03/17/2020
COVID-19 Mitigation Measures
The government's second announcement requested that all individuals should practise "social distancing"
03/17/2020
Cayman to shut down air travel for 3 weeks
All passenger air traffic, including private aircraft, will stop Sunday when the islands will essentially be on lockdown.
03/17/2020
Isle of Man: Coronavirus measures announced to protect community and economy
Those not displaying symptoms of coronavirus will be required to self-isolate for at least 14 days, to eliminate the possibility they are carrying infection