05/20/2021
China bans financial, payment institutions from cryptocurrency business
China has banned crypto exchanges and initial coin offerings but has not barred individuals from holding cryptocurrencies.
Government Regulation
05/20/2021
The just and equitable winding up jurisdiction in Jersey: loss of substratum
The article explains how the Jersey courts have taken a commercially flexible, yet rigorous approach when considering applications to wind up a company on the ground of loss of substratum.
05/20/2021
CBI Calls for UCITS Managers to Review Liquidity Risk Management Frameworks
Under the CSA NCAs undertook a two-stage assessment of compliance by UCITS managers with liquidity risk management rules.
05/20/2021
Ireland Update: Industry Letter – UCITS Liquidity Risk Management
The Central Bank’s review formed part of the European Securities
05/19/2021
Victoria joins renewable hydrogen certification scheme
The Zero Carbon Certification Scheme is a renewable hydrogen certification that was launched in December by the Smart Energy Council.
05/19/2021
Snapshot: bearer share companies in the British Virgin Islands
Regulatory reforms to improve corporate transparency and crackdown on white collar crime prompted most offshore jurisdictions to reform their bearer share regimes.
05/19/2021
BVI introduces data protection regime
The background to this is of course the drive for the BVI to become equivalent with the UK and European Union in this area, in particular under the EU’s General Data Protection Regulation.
05/18/2021
Firms must change tack to meet financial regulators’ expectations on supplier risk
Currently, many firms treat outsourcing risk as a separate and distinct category from the broader one of third-party operational risk.
05/18/2021
The rise in scams and the threat to a legitimate financial services industry
The FCA detected the promotion on the same day it appeared and started immediate inquiries.
05/18/2021
Mourant Regulatory Update - Guernsey Corporate - Q1 2021
If you have any queries in relation to any of the topics raised, or if there are any areas you think it might be useful for us to cover, please don’t hesitate to get in touch.
05/17/2021
Ireland's Implementation Plan to Tacle Economic Crime and Corruption
This is a further step towards the passing of new legislation to set up an independent Corporate Enforcement Authority which is intended to replace the existing Office of the Director of Corporate Enforcement.
05/17/2021
FCA announces plans to stop CMC phoenixing
The CMC represented customers claiming more than £5m from the FSCS in claims against the husband’s former financial advice firm.
05/17/2021
Road to Recover Class Action Proceeds Grows More Complex for Investors, Broadridge 2021 Global Class Action Annual Report Highlights
The Broadridge Global Class Action Annual Report offers an in-depth analysis of the 10 most complex class action recovery opportunities from 2020 involving financial instruments.
05/16/2021
Wealth Management Connect: another step towards formal launch
The Draft Implementation Rules seek to regulate the business and activities of onshore banks under Wealth Management Connect, as well as the types of investment products which may be offered onshore.
05/14/2021
Partnerships to be brought within scope of Guernsey's economic substance requirements
Partnerships in existence as at 30 June 2021 will be in scope for accounting periods commencing on or after 1 January 2022 and partnerships formed on or after 1 July 2021 will be in scope from the date of formation.
05/14/2021
Maples seeking judicial review of AML regulations
Group disagrees with CIMA’s interpretation
05/14/2021
Fears of ‘significant deterrent’ for whistleblowers as top EU court quashes Lux Leaks case
The European Court of Human Rights ruled that Luxembourg’s treatment of whistleblower Raphael Halet “struck a fair balance” between protecting his freedom of expression and the rights of PwC, despite objections from two dissenting judges
05/14/2021
UK listing review: towards a dynamic London market
In addition, the government, lawmakers and the FCA will have to balance how best to reduce the regulatory burden without London losing the reputation for high standards which is of critical importance to its success as a global financial centre.
05/14/2021
EU plans to ban cash payments above €10,000 in AML move
Some member states currently have ceilings on cash payments, ranging from €500 in Greece to €15,000 in Poland.
05/14/2021
Bermuda: CRS deadlines extended and reminders issued
The extension is as a result of the ongoing effects of COVID-19.