- Managers of Wealth - Legal - Wealth, private banking and asset management news and opinion

Dubai regulator fines fund manager for reporting breaches

DFSA accepts an Enforceable Undertaking from Equitativa to improve valuation practices

The investment manager regimes in the Cayman Islands and BVI

There are no specific qualifications or other requirements on such overseas managers imposed by BVI or the Cayman Islands.

UK QAHCs - Asset Holding made simple through Guernsey companies

Separately, the UK is considering the introduction of a corporate re-domiciliation/migration framework to encourage non-UK companies to relocate to the UK and take advantage of its competitive corporate tax system.

Arbitration: BVI considers issues of enforcement upon a state

In May 2021, following a four day return date hearing, the BVI Commercial Division of the Eastern Caribbean Supreme Court set aside the Registration Order.

SEC finalizes Holding Foreign Companies Accountable Act rules

The rule also establishes the process by which the SEC may impose trading prohibitions on the securities of these companies.

Immediate changes to the UK Listing Regime to reduce barriers to listing

The changes implement certain proposals on which the FCA consulted in its July 2021 Primary Markets Effectiveness Review (the Review).

FCA consults on the new Consumer Duty

The new rules are familiar from the previous consultation paper

Dual class shares to be included in UK premium listing segment

The FCA has also increased the minimum market capitalisation threshold for both the premium and standard listing segments for shares in ordinary commercial companies from £700,000 to £30 million.

UK VAT rules when selling goods through an online marketplace

We often find UK suppliers of goods choose to register for VAT in their customer’s country and charge the appropriate local VAT.

SEC finalizes Holding Foreign Companies Accountable Act rules

The SEC also declined to provide a non-exclusive list of appropriate documentation.

Ireland Update – Central Bank’s property fund proposals

The current proposal is to introduce a 50% limit on the ratio of a Property Fund’s total loans to its total assets and that this limit would apply on an ongoing basis. .

Ireland Update: Central Bank’s property fund proposals

The Central Bank is seeking feedback on the proposals set out in the Consultation Paper by 18 February 2022.

The private funds guide to SFDR

ESG data gathering and analytics is Intertrust Group’s first ESG product

Cayman Islands Director 2022 Registration and Licensing

Ogier can provide a sample letter of resignation or more general assistance in completing the process if required.

Financial Regulation: Daily Update

The Call for Evidence also gathers views on potential challenges to the safe operation of the AR regime and possible future reforms that might be considered to address those challenges.

TRIPS Waiver

As consensus on the proposal seems unlikely, in this client alert we consider the existing law, which can require rights holders to share their technology in certain circumstances.

IFPR: FCA publishes final Policy Statement 21/17

The FCA has made some relatively minor adjustments and clarifications and affected firms should consider how to factor in these changes within their IFPR implementation.

Crypto firms – navigating the UK MLR registration regime

In order to allow firms to continue trading while their applications are being assessed, the FCA introduced a Temporary Registration Regime (TRR) for existing cryptoasset businesses.

Central Bank of Ireland Publishes Operational Resilience Guidance

The Guidance is accompanied by a feedback statement (the "Feedback Statement") summarising the feedback received from CP140, providing commentary on industry views and explaining changes made to the Guidance in its final form.

Take private transactions - a quick glance into the Cayman Islands mergers & acquisitions regimes

Another popular trend in the M&A world is the privatisation and delisting of Chinese companies listed on US securities exchanges.

Government Regulation