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Regulation, Risk & Compliance

11/21/2024

Advancing Virtual Asset Regulation in the Cayman Islands

In a welcome development, the Bill also seeks to introduce a streamlined licencing procedure and clearer measures for sandbox licence holders who wish to transition to full registration/licence.

11/20/2024

A step forward for virtual asset regulation in the Cayman Islands

Following consultations earlier this year, the Bill underscores the jurisdiction’s dedication to transparency, innovation, and regulatory excellence.

11/20/2024

Ministry publishes virtual assets and revenue-raising bills

The bills were developed following a review of fee structures by the ministry, General Registry, and the Cayman Islands Monetary Authority (CIMA)

11/20/2024

JMMB Group, other fincos on watch for another rate cut

The regional financial conglomerate’s stance aligns with the average sentiment within the financial sector.

11/19/2024

‘No rocket science’: Ease housing crisis via 70% lot discount

Mr Strachan said that by taking out the land acquisition costs, and conveying such sites to private developers for a nominal fee, the latter would be able to construct affordable homes while still making a profit.

11/19/2024

President states tourism forex regulations will not be changed

At a ceremony held last night at the Social Centre to mark one year since this administration came to office, the President reiterated several times that there will be no changes to this forex regulation.

11/19/2024

FIAU fines are not unconstitutional, top court rules in landmark judgment

Court says fair hearing not breached provided firms have 'access to full review'

11/18/2024

Reshaping Malta’s pension landscape

Budget 2025 speech has confirmed the government’s plans to introduce auto-enrolment for workplace pensions

11/15/2024

Central Bank of Ireland takes enforcement action against an Irish AIFM

In order to address these concerns, the AIFM took steps to seek the return of the funds invested in the Loan Notes

11/15/2024

Cyprus transfer pricing legislation and documentation requirements

The new regulations cover all transaction types between related parties exceeding certain thresholds per category of transaction

11/15/2024

Higgs & Johnson ‘The Best in the Business’

A recommended attorney in the area of real estate, Co-Managing Partner, Sterling H. Cooke, is described as a ‘transactional lawyer to note”

11/14/2024

What could the new Trump administration mean for the Cayman Islands?

Two financial experts weigh up what could be on the horizon.

11/14/2024

HMRC notification and the position of minors and unborns in trust variations in Jersey

The judgment confirms that the concept of "benefit" in trust variations may include a broader, pragmatic assessment of family welfare and tax efficiency.

11/12/2024

Framework agreement signed for Maldives Economic Gateway project

The agreement outlines the development of the Maldives Economic Gateway Project, which aims to transform Ihavandhippolhu into a trade and logistics hub.

11/12/2024

St. Kitts and Nevis Makes Key Legislative Amendments to Strengthen the Federation’s Financial System in Line With Best International Practices

The core purpose of the amendments to the Financial Services Regulatory Commission Act is to reduce the mandatory meetings of the Financial Services Regulatory Commission (FSRC) from nine to five meetings per year.

11/12/2024

All cessation of licence and revocation requests due by 22 November 2024

Submit your requests via the FSJL material change form.

11/11/2024

Updates to the British Virgin Islands Anti-Money Laundering regime and changes for MLROs

On 28 October 2024, the FSC and FIA also jointly issued Guidance on Mitigating Risks with Introduced Business Relationships (the "Introduced Business Guidance").

11/08/2024

Proposed amendments to the BVI Business Companies Act

The Bill will amend the BVI Business Companies Act, 2004

11/08/2024

Resolutions and meetings of Guernsey Companies

Termination of the proxy’s authority to act does not affect his counting in the quorum

11/08/2024

Carey Olsen takes lead role in new TISE ‘Specialist Companies’ equity rulebook

The Specialist Companies Equity Rules offer increased flexibility over TISE’s full equity listing rules

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