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Queen's Speech confirms UK data protection reform

Businesses can expect the Data Reform Bill to have a large impact on their data protection practices and data governance.

New Restructuring Officer Regime to be introduced in the Cayman Islands during 2022

During the course of 2022, Part V of the Cayman Islands Companies Act (the "Companies Act") will be amended to introduce a new restructuring officer regime available to companies in financial distress, which can be accessed without the need to p

Charities Act 2022 - when will the changes happen?

The Act’s substantive provisions will only come into force once the Secretary of State makes regulations giving specific commencement dates and that hasn’t happened yet.

British Virgin Islands Regulatory Obligations and Filing Deadlines 2022

Asset allocation details are also required, but there is no need to set out specific details of individual investments.

BVI governor launches raft of criminal investigations in wake of corruption inquiry

In addition, an investigation would be made into possible corruption within HM Customs (COI Recommendation B40).

Snapshot: obtaining indemnity costs against a litigant in Jersey

Ogier successfully appeared for BDO and Creditforce, and obtained an indemnity costs order against a trustee previously found to have misappropriated trust assets.

Herbert Smith Freehills Financial Regulation Daily Update

The FCA plans to publish its final report on the multi-occupancy buildings insurance market by 28 July 2022.

EU sanctions: application of trusts measures outside the private trusts sphere

They also apply to all business done by non-EU persons in whole or in part within EU territory, including its airspace and on any aircraft or vessel under an EU member state's jurisdiction.

Cayman Court intervenes to preserve segregation of captive insurance portfolios

SPCs consist of one overarching legal entity

International Law Recourse for Potential Expropriation of Foreign Assets by Russia

Essentially, the proposed regime would allow the Russian government to take control over Russian assets of foreign companies that have recently made a decision to leave Russia

Winding Up an Exempted Limited Partnership: How Long Will Cayman Islands Law Remain in a Judicial State of Flux?

The resolution of these debatable legal issues is not only of legal or academic interest: since these issues also have significant commercial implications.

European Banking Authority Publishes Final Draft Regulatory Technical Standards on EU Risk Retention

Article 6 of the EU Securitisation Regulation requires the originator, sponsor or original lender of a securitisation to retain on an ongoing basis a material net economic interest of not less than 5%, using one of five possible methods.

BVI Court freezes crypto wallets

The Respondents however failed to show up to Court giving the Judge little difficultly in deciding to continue the injunction and associated relief.

Additional liquidator appointed to mitigate conflicts of interest in the winding of a Cayman SPC

The Grand Court's decision on the application helpfully sets out how recoveries and costs are to be managed in the liquidation of a segregated portfolio company

Pandora Papers shed light on ‘gatekeepers’ of dirty money

MONEYVAL rebuked governments across Europe for failing to combat money laundering or police lawyers, accountants and other professionals who facilitate financial crime.

Outsourcing Cayman Islands AML/CFT compliance obligations

This guide provides a practical overview of the relevant steps and considerations which should be borne in mind when a financial service provider plans to outsource, or is reviewing existing outsourcing arrangements relating to the performance of an AML/C

Government Regulation