03/31/2023
Central Bank of Ireland Findings Following EU Review of Costs and Fees in UCITS
The Central Bank expects the letter will be reviewed by the boards of UCITS management companies (and AIFMs) and appropriate action taken without delay.
Regulation, Risk & Compliance
03/31/2023
2023 Q4 update - Cayman Islands
The Cayman Islands have issued a regulatory update for October 2022.
03/31/2023
Isle Of Man FSA Introduces A New Predominantly Industry - Funded fee model
The move to a PIFM will represent a substantial change to the FSA’s fee structure, where the FSA is currently funded by approximately 56% fee revenue and 44% Treasury contribution.
03/31/2023
A round-up of the recent updates affecting investment funds in Guernsey
The UK Government created the TRS in 2017 to ensure that the UK complies with its international obligations to counter money-laundering and terrorist financing.
03/30/2023
Management Equity Incentive Plans - Key Considerations
Equity plans can assist in attracting, motivating and retaining staff which are some of the critical challenges many businesses face.
03/30/2023
ELTIF 2.0 – Enhancements and New Opportunities
The original regulation on European Long-Term Investment Funds2 ("ELTIFs") was introduced in April 2015.
03/30/2023
Consultation on Amendments to Schedule 3 to the Law regarding Independent Audit, Business Risk Assessments and VASPs
The consultation paper and associated draft legislation and Handbook changes can be found on the Commission’s Consultation Hub.
03/29/2023
Climate change: Paris Agreement extended to Isle of Man
The move means the Isle of Man’s climate action will contribute to the UK’s commitment to reduce its emissions by at least 68% on 1990 levels, by 2030.
03/29/2023
NSM opens London office
The London office team of Chris Bond, James Sermon and Chloe Harris will be supported by the head office in Guernsey.
03/28/2023
Deputy Taylor remains DPA Vice-President
Not only did Deputy Taylor remain in States' Blue Book as the DPA VP - following a majority for Deputy Dyke during the DPA vote, but it was confirmed to Express that the Bailiff recognised Deputy Taylor as the current VP, not Deputy Dyke.
03/28/2023
Conversion of an Exempted Company to an Exempted Limited Liability Company
Before proceeding with a conversion, persons are advised to consult their tax, legal and other professional advisers in their respective jurisdictions.
03/28/2023
CSSF Updates SFDR FAQ
On 2 December 2022, the CSSF issued the first iteration of its FAQ in order to provide further clarity on certain aspects of the SFDR.
03/27/2023
Cayman Court of Appeal Provides Important Guidance on Leave to Appeal to the Privy Council in Re Changyou.com Limited
The Petitioners sought the Grand Court’s appraisal of the fair value of their shares pursuant to section 238 of the Companies Act.
03/27/2023
Time is running out – investment business registration
By way of background, the Amendments to the Bermuda investment business regime widened the Authority's scope of supervision over investment businesses and as a result, new categories of registered persons were introduced.
03/27/2023
Guernsey’s new secondary pensions law - key points and FAQs
The minimum level of contributions will initially be 2% of earnings, with at least 1% paid by the employer.
03/27/2023
Central Bank Industry Letter on Fund Costs and Fees
The CSA consisted of three distinct phases comprising the issuance of a qualitative and quantitative questionnaire to UCITS management companies ("UCITS Mancos"), a desk based review and virtual inspection calls.
03/24/2023
Chubb unveils new oil/gas extraction underwriting criteria
The underwriting criteria for oil and gas extraction are part of an ongoing collaboration and consultation with environmental stakeholders and experts.
03/24/2023
FTX chief’s $460m deal with Bahamas fund firm
The monies came from Alameda Research, the private trading vehicle owned by FTX co-founder Sam Bankman-Fried, whose investments were heavily financed by funds misappropriated from the crypto exchange’s clients without their knowledge.
03/24/2023
Regulatory Sandboxes - What are their merits?
Guernsey has a long history of innovation.
03/23/2023
An introduction to Jersey LLCs
The Jersey LLC regime came into force following the adoption of the Limited Liability Companies (Jersey) Law 2018