09/20/2023
IGI redeems warrants for $16.4 million
The warrants were exercisable at a share price of $11.50. IGI shares currently trade on Nasdaq at a price of $11.40, having climbed from $8.05 in May.
Regulation, Risk & Compliance
09/20/2023
The Commercial Entities (Substance Requirements) Act, 2023
CESRA mandates that all Registered Agents must submit this report to the Ministry of Finance within nine (9) months of an entity’s fiscal year-end.
09/20/2023
Companies slow to capitalise on BMA’s sandbox
The BMA is looking to attend more conferences and forums.
09/18/2023
FSC leak
Hacked files dumped on dark web
09/18/2023
Foreign arrivals up 45 percent in Q2, Central Bank reports
“Disaggregated by major ports of entry, tourist arrivals to New Providence rose by 37.7 percent to 1.1 million visitors, vis-à-vis the 0.8 million passengers in the year prior,” the Central Bank reported.
09/18/2023
The rule in Hastings-Bass under Cayman Islands’ statute
The Court will intervene to protect the interests of the innocent beneficiaries of the trust by setting aside the exercise, whether or not the beneficiaries might also have causes of action against the trustees or their advisers.
09/18/2023
"New rights, enshrined in law"
[Trading Standards Service] have also updated their pages on gov.gg
09/18/2023
Mauritius revoked licences of firm linked to Adani investors, reports Indian Express
The Emerging India Fund Management is the controlling shareholder of two overseas investors of Adani that are under investigation in India.
09/15/2023
Updated Guidance Notes on the Prevention and Detection of Money Laundering, Terrorist Financing and Proliferation Financing in the Cayman Islands
The Updated Guidance Notes replace the previous version issued by CIMA on 5 June 2020, as supplemented in February 2021 and May 2021.
09/15/2023
Exemptions to the licensing requirements of the Lending, Credit and Finance (Bailiwick of Guernsey) Law, 2022
The class exemptions are set out according to the type of licence that would otherwise be required.
09/15/2023
Trina Solar: A Warning Regarding Reliance on Merger Price and Deficient Disclosure in s238 Proceedings
In fact, the Court held that no weight should be given to the merger price in this case and granted greater prominence to the DCF analysis.
09/14/2023
CIMA amends guidance to accommodate e-KYC and Digital ID Systems
If applied correctly the use of e-KYC has many benefits.
09/14/2023
Guernsey Retail Group warns Goods and Services Tax would harm retail and impact communities
This would further impact on community centres, so the GRG is asking the States to consider alternatives to a tax on consumption.
09/13/2023
Guernsey States pension hike of 6.8% proposed
The proposed new policy would add a "look back" element to the current double lock
09/13/2023
Call for Sites - Guernsey's Island Development Plan
The Call for Sites is an opportunity for residents, landowners, developers and organisations to suggest land in Guernsey that is both available and suitable for development
09/13/2023
Merger of Bermuda Companies
It deals in broad terms with the requirements and procedures under Bermuda law for effecting such a merger.
09/13/2023
Update: CIMA regulated fund filings
Funds with financial year ends falling subsequent to 31 December 2022 are still obligated to file their audited financial statements
09/13/2023
Michael Martin serves great leadership in strengthening of St Kitts and Nevis CBI
Michael Martin- the Citizenship by Investment Unit of St Kitts and Nevis has been working to strengthen the programme to retain its position in the investment industry.
09/12/2023
Confederation of Guernsey Industry warns population law is ‘damaging Island way of life’.
Businesses affected by this are struggling as the staff they employ are classed as unskilled, but they are not.
09/11/2023
Revised AML Guidance Notes on e-KYC and Remote CDD / Ongoing Monitoring
The amendments support FATF-issued guidance on digital identification and provide for remote onboarding of clients and the use of e-KYC and digital ID technologies on an ongoing basis, where appropriate based on the risk assessment of clients.