01/16/2020
Jersey's private wealth relationship with the Middle East
The relationship between Jersey and the Middle East is an important one.
Regulation, Risk & Compliance
01/16/2020
BVI Funds Regulatory Update by Ogier
This change will bring BVI into line with other jurisdictions who have enacted similar legislation in recent times
01/15/2020
France blacklists BVI, Bahamas
Panama remained on the list for the same reasons
01/15/2020
CSSF Provides Clarification on UBO Identification and Verification
The Commission de Surveillance du Secteur Financier, published CSSF circular 19/732 regarding clarifications on the identification and verification of the identity of ultimate beneficial owners.
01/15/2020
New ESG Disclosure Requirements for EU Funds and Asset Managers
A new EU Disclosure Regulation EU/2019/2088 on disclosures to be made by asset managers and investment funds relating to sustainable investments and sustainability risks has been made.
01/15/2020
France blacklists BVI and Bahamas as non-cooperative tax havens
France has blamed the jurisdictions' deficiencies in the exchange of tax information for the listing, stating that French tax authorities were unable to obtain the requested information.
01/14/2020
Government proposes changes to Cayman Islands funds regime
Under the bill, CIMA will have the power to enforce special measures against a private fund if the authority believes the fund has breached
01/13/2020
FCA becomes AML and CTF supervisor of UK cryptoasset activities
The FCA is now the anti-money laundering and counter terrorist financing supervisor for businesses carrying out certain cryptoasset activities under the amended Money Laundering, Terrorist Financing and Transfer of Funds Regulations 2017.
01/13/2020
Cayman Islands Financial Reporting Authority reminds relevant institutions of obligations under the financial sanctions regime
The Notice highlights the prohibitions relating to asset freezes
01/13/2020
Cayman: Introduction of Registration Regime for Closed-Ended Funds Summary
Both this summary, and the more detailed client advisory, are based on the Bill as published.
01/13/2020
Cayman Islands: Withdrawal of Fifteen Investor Exemption
Directors of registered mutual funds are required to be individually registered or licensed under the Director Registration and Licensing Law.
01/13/2020
Appleby Acted as Bermuda Counsel to Akinova Leading up to the Completion of a First of its Kind' Parametric Cyber Risk Transfer
Appleby said: Congratulations to the AkinovA team on the completion of the first cyber parametric instrument trade.
01/13/2020
Jersey moves closer to introducing pension regulation
There are currently no specific rules covering providers on the island
01/12/2020
Regulation of Crypto Assets
Crypto-investors and users, as well as crypto-asset service providers, are exposed to high risks.
01/10/2020
Cross-border transactions face EU anti-money laundering overhaul
The demand for greater scrutiny over high-risk international transactions is not new for banks in the EU.
01/10/2020
Bermuda Economic Substance Update – Key Amendments Enacted
Bermuda has passed amendments to its economic substance laws to more closely align Bermuda’s regime to that of other 2.2 jurisdictions.
01/10/2020
Panama moves forward with beneficial owner register
This information will now be collected on the register, under the control of the Superintendence of Non-Financial Institutions.
01/09/2020
Art and money laundering: The U.K. enacts new art laws and all buyers and sellers need to pay attention
Regardless of the jurisdiction, all art transactions carry risk.
01/09/2020
Important Changes to the Bermuda Investment Funds Act 2006
The IFA Amendments are intended to further enhance Bermuda’s regulatory framework, primarily in relation to categories of investment funds that previously did not require any registration or regulation in Bermuda.
01/09/2020
Arbitration of Employment Disputes: What Employers and Employees Need to Know
The use of arbitration varies between jurisdictions, but in general is less common in countries such as the UK where there is a dedicated tribunal system for employment claims.