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Financial Regulation: Daily Update

Under the strategy, the FCA has set out a number of targets to be reached by 2025

Cayman Private Fund Annual Return and Related Fund Entity Deadlines Extended ( Final-Extension )

The filing due date for the Forms for private funds with a financial year-end of 30 April 2021 and later will continue to be 6 months following such financial year-end.

Voluntary Liquidations for British Virgin Islands Second Half Year Companies

To prevent the expense of annual 2022 government registration fees, an appointed voluntary liquidator will be required to file the final notice for a company on or before 29 November 2021.

Investment funds: new rules for distribution and pre-marketing in Germany

Germany has extended the concept to semi-professional investors.

IBOR transition: Treasury proposes UK BMR safe harbour provisions

The FCA expects to consult on the long-awaited question of exactly what types of contract should constitute tough legacy later this month, and a policy statement is expected to follow later this year.

New UK guidance for fundraisers dealing with people in vulnerable circumstances

The rules that govern how to deal with people in vulnerable circumstances while fundraising are set out in the Charities Act 2016 and the Code of Fundraising Practice.

UK Announces 'Dirty Money' Crackdown, Including Tougher Crypto Regime

The U.K. government has drawn up an action plan aimed to combat financial crimes that it says will include a new regime for crypto assets.

EIOPA publishes the criteria for the independence of supervisory authorities

The criteria provide clarity for supervisory authorities on EIOPA’s expectations.

Resealing of Foreign Grants of Probate in the BVI – New Act brings welcome Clarity

After the death of the shareholder, any BVI shares will be effectively frozen; voting rights will likely be suspended and the BVI company will be unable to distribute any dividends paid on the shares because no one will be authorised to give a good receip

Warning: Four overseas financial service providers impersonated in scam

These scam businesses, their websites and email addresses are in no way related to the registered or previously registered businesses by the same names which are based in Belgium, Austria and The Netherlands.

FCA policy development update

Given the importance of robust regulatory returns, the PRA expects all banks, designated investment firms and building societies to consider the findings in the letter and any work they may need to do to remediate applicable issues.

Maltese trusts – an attractive estate planning tool

Anjelica Camilleri de Marco, Senior Associate in Malta, outlines the adoption of trusts in Malta and examines their tax treatment.

COVID-19 vaccination mandates coming to a workplace near you

Specifically, President Biden has required all federal workers as well as employees of federal contractors to be vaccinated against Covid-19.

Award-winning cyber security expert to speak at Mourant Trusts Forums

David’s keynote will discuss how cyber criminals operate, the way criminals exploit businesses and their data, and what firms can do to guard against cyber crime.

Cayman private fund annual return deadline further extended

All private funds with a 2020 or a 2021 financial year-end up to 31 March 2021, must submit the FAR and RFE forms by this deadline. CIMA has confirmed that no further extensions will be granted.

ESMA guidelines on marketing communications

The guidelines will apply six months after the date of the publication of the guidelines on ESMA’s website in all EU official languages, ie from 2 February 2022.

BVI enhances registered agent whistle-blower requirements

The revised section 54A came into force as of 19 July 2021.

The UK’s LIBOR safe harbour legislation: a missed opportunity?

The FSA 2021 makes amendments to the UK Benchmarks Regulation

SEC committee recommends greater regulation of SPACs and Rule 10b5-1 plans

The committee also voted to approve recommendations that would impose greater restrictions on Rule 10b5-1 trading plans.

Basel III implementation in the European Union

Introductory remarks by Pablo Hernández de Cos, Chair of the Basel Committee on Banking Supervision and Governor of the Bank of Spain, Eurofi panel on Basel III implementation in the EU, Ljubljana, 10 September 2021.

Government Regulation