02/18/2022
UK ruling referred to CJEU in post-Brexit first
According to state aid and trade law specialist Dr. Totis Kotsonis of Pinsent Masons,this case raises a number of interesting points.
Government Regulation
02/18/2022
Hong Kong SFC’s New Rules on Bookbuilding & Placing Activities: What Intermediaries Need to Know
This Legal Update elaborates on the context and scope of the new requirements and provides recommended next steps for intermediaries to prepare for the new requirements in coming months.
02/17/2022
Russia/Ukraine crisis: New sanctions regulation in force in Guernsey
In January, the US also introduced a bill to facilitate the imposition of sanctions in the event of a Russian invasion of the Ukraine, in the form of the Defending Ukraine Sovereignty Act of 2022.
02/17/2022
Accelerating Charitable Efforts Act
Charities that receive more than one-third of their support from “public” sources will qualify as public charities.
02/17/2022
Amendments Introduced to Bermuda's Segregated Accounts Companies Act
Also of note are the changes to the requirements related to the appointment of a segregated account representative ("SAC Rep"), which in almost all cases now require the SAC Rep to be a 'regulated person'.
02/17/2022
Ogier introduces most expansive family leave benefits in the offshore world
Permanent employees are entitled to this benefit from their first day with Ogier, as continuous service requirements were removed from the Ogier maternity leave policies in 2021.
02/17/2022
Update on the EU AML List
Limited Impact for the Cayman Island
02/17/2022
Assessment of Risks to Financial Stability from Crypto-asset
Direct connections between crypto-assets and systemically important financial institutions and core financial markets, while growing rapidly, are limited at the present time.
02/17/2022
Romance Fraud - A Callous Financial Fraud
Once the victim is drawn in the fraudster begins to ask the victim for substantial sums of money using various spurious excuses to extract funds from them.
02/17/2022
Derivatives trading: Commission plans to expand EU-based clearing capacity
A CCP is an intermediary in derivatives trading that buys derivatives from one party and resells them to the other.
02/17/2022
FCA launches consultation on pension provider dashboard rules
It follows a similar consultation published at the end of last month by the Department for Work and Pensions
02/16/2022
FINRA Publishes 2022 Report on Its Examination and Risk Monitoring Program
FINRA adds new topics for 2022 and new material to previously covered topics.
02/16/2022
EU reviewing Annex II: Potential inclusion of BVI and Bermuda
Inclusion on the list means that the EU monitors for progress towards addressing the recommendations by the required deadline.
02/16/2022
Luxembourg Parliament Adopts the Bill to Amend Luxembourg Securitisation Law
The amended Law brings increased flexibility to Luxembourg securitisation vehicles by introducing a series of major changes and was adopted much earlier than originally anticipated.
02/16/2022
Update: Expansion of the Jersey Insolvency Toolkit
The adoption of the Companies (Amendment No. 8) (Jersey) Regulations 2022 (Regulations) [last week] brings welcome changes to Jersey’s insolvency toolkit.
02/16/2022
SEC Charges 12 Additional Financial Firms for Failure to Meet Form CRS Obligations
With today’s actions, the SEC has now charged forty-two financial firms for failing to meet the obligations that are required
02/15/2022
SEC Proposals Would Significantly Impact Private Fund Advisers
The SEC also proposed amendments to the current rules governing the books
02/15/2022
EU guidance on data subject access requests clarifies search obligations
The GDPR stipulates that organisations must respond to SARs "without undue delay and at the latest within one month" unless extensions can be justified and sets out further requirements in relation to the information that must be provided in res
02/15/2022
SEC Proposes New Rules For Private Fund Advisers
Several of the Proposed Rules will also apply to investment advisers not registered with the SEC, including venture capital fund advisers, smaller private fund advisers and many non-US advisers.
02/15/2022
Key developments in Jersey’s corporate insolvency regime
Key among those changes is the creation of a new insolvent company winding-up regime, referred to as a “court ordered creditors’ winding-up”