Managers of Wealth Offshore

FATF Landmark Report - A Guernsey Perspective

Its purpose: to provide an insight into its key findings from its fourth round of mutual evaluations

Data Protection Authority gives Guernsey firms a cyber security checklist

The authority warned of a current "heightened risk" of cyber-attacks.

Cayman Islands third party rights legislation

The Act facilitates streamlining by removing the need for a dual step approach to constructing third party rights in transactional arrangements.

New enhancements to the Jersey Limited Partnerships Law

A liquidator may now be appointed to carry out the winding up of an LP on the authority of the GP, the LP Law or the LPA.

CIMA revokes fund administrator licence

As reasons for the licence revocation, which took effect 10 May

JRA sets strategic direction for 2022-2023 and signs first MoU

The JRA is committed to establishing an efficient and effective regime that is proportionate to the risks and nature of Jersey’s banking industry and to do so in an open and transparent manner.

Guernsey private trust companies and foundations

The Commission issued updated guidance in November 2021

Dean D’Sa, Founding Partner, IZAR: “FSC guidelines on green bonds are important as they set a minimum standard”

The legal infrastructure has not changed which is good because when structuring deals, you really want to have the comfort of stability.

Woodbrook Group gives up Cyprus licence

Company has been dissolved since October 2021

Beneficial Ownership Registration for BVI Entities Owning UK Property

Conyers can assist you to ensure that all relevant filings, updates and confirmations are made to ensure compliance with the ECA.

Navigating the Jersey M&A Landscape (3 of 3)

Our Appleby Corporate team has been involved in a number of mergers and acquisitions (M&A) transactions involving buying, selling and/or restructuring businesses that have premises and/or people in Jersey.

Amendment of Investment Business Client Assets Order comes into force

Jersey was specifically noted to not have fully adopted measures with respect to due diligence on the selection of custodians/third parties and regarding disclosing the asset protection regime afforded for investments in overseas jurisdictions.

Deadline reminder for consolidated handbook data request

These emails were sent to members of Industry who are or may be providing services to the supervised persons listed below, regarding the consolidated handbook.

Over £1bn of Russian assets frozen in Jersey

While less than £5m has been seized in Guernsey

US tops financial secrecy ranking as G7 countries upend global progress on transparency

The G7 countries’ undermining of global transparency has further fuelled calls by leading economists for a UN tax convention

BMA extends data call deadline

Upon closer review, questions five to six requesting details of other internationally-sanctioned jurisdictions are not relevant for this exercise; therefore, the Authority has omitted these sections.

Close-out netting and set-off provisions for BVI, Cayman Islands, Guernsey, Jersey and Luxembourg counterparties

As a result, financial institutions are reacquainting themselves with protectionist financial contracts, for example, interest rate hedging and swap contracts.

EU Proposal for further interest limitated rules - the impact on international business

The implementation and final form of the draft Directive is subject to unanimous consent by all EU Member States.

A Brief Guide To Statutory Demands And Applications To Set Aside Statutory Demands In The BVI

Under section 8(1)(a) of the Act, a company or a foreign company is insolvent if it fails to comply with the requirements of a statutory demand that has not been set aside under section 157.

Top 'Take-Aways' from the 2022 Mourant Regulatory Conference

Minister Ebanks highlighted the Cayman Islands Government's significant progress

Regulation, Risk & Compliance