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Types and uses of Cayman Islands law trusts

A Cayman trust may be revocable or irrevocable.

Fraud alert: Impersonation scams continue to soar in 2021

Quilter is warning people to stay alert to the risk of impersonation fraud, and has published a new video on its ‘Stay Safe’ webpage to provide customers, advisers and the wider public with tips on avoiding such scams.

FCA tells asset managers, insurers and pension providers to report on climate risk

The expanded disclosure rules follow the same pattern as the rules for premium listed companies introduced in December last year

Cayman Islands investment funds - spring 2021 update

Auditor consent letters must now be submitted with the registration application.

Evidencing Effectiveness

This rapidly evolving environment is being driven by international standard setters that are now assessing regulators on much more than pure legislative architecture.

FCA review finds weaknesses in some ‘host’ Authorised Fund Management firms’ governance and operations

The review focussed on host AFMs but some of the findings are also applicable to in-house AFMs.

Article 28 GDPR Processor SCCS

Where a data processor carries out processing on behalf of a data controller, Article 28 of GDPR requires the parties to enter into a written agreement

Climate-related disclosures for the UK asset management industry: the FCA consults on TCFD-compliant measures

The FCA’s proposals aim to increase transparency and competition, encourage capital flows towards firms that better manage climate risks and opportunities, and resource allocation towards transitioning the economy to net zero by 2050.

SA Bitcoin brother: 'Only' R71 million is missing

The statement on Monday from the lawyers came just two days after their first public defence of the brothers who'd been accused of vanishing along with an estimated $3.6 billion (R51 billion) in Bitcoin from their Africrypt investment platform.

Valuations can play a key role in contentious cases

Commercial litigators are likely familiar with the broad concepts involved – but perhaps not with how valuation principles can be deployed in contentious cases.

Current New York Tax Considerations for Asset Managers—Part 1, Sourcing Fee Income in a Remote Work Model

Remote work presents an opportunity to reduce the New York tax burden on fee income, but NYS and NYC each present their own considerations, which must be addressed to properly capitalize on it.

UK Government Publishes Draft Online Safety Bill to Tackle Illegal and Harmful Content Online

The proposals includes fines for non-compliance of up to the greater of £18 million or 10% of a provider’s annual global revenue.

FCA Seeks to Extend Climate-Related Disclosures for Listed Companies

The FCA is consulting on extending its rules to standard listed issuers.

UAE Central Bank issues guidance on anti-money laundering

LFIs are required to perform appropriate customer due diligence and report any behaviour that they reasonably suspect

Let's Talk About Jersey Economic Substance: Finance and Leasing Business

To avoid being placed on the European Union blacklist of non-compliant jurisdictions, Jersey introduced the Substance Law which came into force on 1 January 2019.

EU Commission adopts UK Data Adequacy Decisions

By adopting the Adequacy Decisions, the EU Commission has recognised that the UK has fully incorporated the principles, rights and obligations of the GDPR

Central Bank of Ireland Supervisory Priorities for the Insurance Sector

The CBI's priorities focus on the fundamentals of effective supervision; strengthening regulatory and supervisory frameworks

High Court Declines to “Cram Down” Shareholders in Proposed Part 26A Restructuring Plan of Oil Company

The decision provides new judicial guidance for determining the boundaries of cross-class cram down tests.

FCA fines Crosfill & Archer Claims Limited £110,000

This fine was for making unsolicited telemarketing calls to people who registered not to receive this type of sales call, where the firm had no evidence they had consented to receive the call or where the firm was unable to confirm what consent had been o

The free flow of personal data from the European Economic Area to the United Kingdom can continue (at least for now)

The European Commission stated it would reassess the need for this exclusion following developments in UK law.

Government Regulation