03/26/2020
Update on the Operation of the BVI Corporate Registry
This enables us to deliver high-quality work for our clients whilst prioritising the safety and well-being of our people.
Regulation, Risk & Compliance
03/26/2020
Round up of EU banking regulators issue updates and advisories on COVID-19
Mostly importantly the EBA confirms that banks can fully use capital and liquidity buffers, including Pillar 2 Guidance (P2G) and will benefit from relief in the composition of capital for Pillar 2 Requirements.
03/26/2020
PilatusBank was a ‘money transfer operation’
While its total equity was of €10.8m, Pilatus had just six loan clients and six to whom the bank had provided financial assistance in connection to residency schemes and applications to buy a Maltese passport.
03/26/2020
Covid-19: What next in Jersey - should I be worried about wrongful trading?
Businesses face a serious challenge in the current crisis.
03/26/2020
Malta Financial Regulator Warns Against Unauthorized Crypto Firms
The document’s letterhead prominently displays the British royal coat of arms.
03/26/2020
Antigua - Barbuda ambassador calls for World Bank - IMF urgent attention to all vulnerable economies
The WBG and IMF should not stop there.
03/25/2020
RBC closes 3 branches temporarily
Effective Wednesday, some RBC Royal Bank branches in Trinidad and Tobago will close.
03/25/2020
The Bahamas: Employer Obligations During COVID-19
Under the EA, employees who have been employed for at least six months are entitled to one week of paid sick leave and are required to produce to their employer a medical certificate
03/25/2020
Govt. in talks with banks over COVID-19 assistance
The Prime Minister also noted that National Insurance Board (NIB) will be encouraged to engage hotel owners about the possibility of advancing NIB unemployment benefits on behalf of the Government.
03/25/2020
Tax in the time of COVID-19
The goal is to ensure that households and businesses are able to keep their heads above water until the health crisis can be contained, so that the economy is ready to rebound once the worst of the pandemic has passed.
03/25/2020
Acting selfishly has consequences right now – why ethical decision making is imperative in the coronavirus crisis
In fluid situations, these conditions are hard to meet.
03/25/2020
Holding the Line on Ultimate Beneficial Ownership
To address the challenges many jurisdictions experience in trying to ensure ownership transparency, last October the FATF released a best practice paper offering guidance on measures countries should consider to facilitate access to beneficial ownership a
03/25/2020
SRD II Comes into Effect in Ireland
They introduce new rules on investor engagement and investment strategy transparency for institutional investors and asset managers that invest on their behalf.
03/25/2020
How The Bahamas Is Tackling Coronavirus
Residents can leave their home for essential travel, meaning doctor visits, grocery shopping, pharmacy visits or refueling, for example.
03/25/2020
Cayman to be put on lockdown
All non-essential businesses will imminently be required to close, unless they can operate with staff working from home.
03/24/2020
Malta sees 157% increase in suspicious transaction reports
The anti-money laundering unit also reported an unprecedented increase in the number of requests
03/24/2020
Ireland Update: SFTR reporting update issued by ESMA
The reporting obligations for credit institutions, investment firms, CCPs, CSD and relevant third country entities will now all commence on 13 July 2020
03/24/2020
Mutual Funds - Enhanced Information Required for Annual Returns
The 2020 Regulations also require information to be disclosed in relation to the number and net asset value holdings of the “top five” types of investors and nominee investors
03/24/2020
Recognized but not Compromised; English Court recognizes Brazilian insolvency over dissolved company
This decision confirms the commitment of the courts to exercise their discretion in a manner to uphold the framework of cooperation in cross border insolvency.
03/24/2020
Cayman Immigration and Employment Questions Arising Out of Covid-19
Notice pay is determined by reference to the contract of employment. Where no notice period is prescribed it is deemed to be the interval between pay days.