07/16/2021
Major Amendments to BVI's Trusts Laws
The amendments move the BVI's trusts regime into line with, and in certain aspects ahead of, its competitor jurisdictions in the offshore trusts marketplace.
Government Regulation
07/16/2021
FCA business plan targets ‘innovative, assertive, adaptive’ future
The FCA intends to be more proactive at the edges of the so-called ‘regulatory perimeter’
07/16/2021
Drafting an arbitration clause into a contract?
This guidance note will be useful for commercial lawyers and professionals involved in corporate transactions.
07/16/2021
Data protection regime introduced in the BVI
Limited partnerships without legal personality should also prepare for the DPA as they may fall within scope by virtue of being 'established' in the BVI.
07/16/2021
When will a director or shareholder of an insolvent company be held personally liable for costs liabilities incurred by the company in unsuccessful litigation?
This will commonly be some form of serious bad faith or impropriety on the part of the director, causatively linked to the applicant unnecessarily incurring costs in the litigation.
07/16/2021
New standard contractual clauses for transfers of personal data to third countries adopted by the European Commission
For the avoidance of any confusion, it does not discuss the recent adoption of intra-EEA controller to processor standard contractual clauses under Article 28(7) of the GDPR.
07/16/2021
SEC Charges SPAC, Sponsor, Merger Target and CEOs for Misleading Disclosures
The SEC filed a separate litigated action against Kokorich.
07/16/2021
ESMA Statement Warns on Payment for Order Flow
New ESMA guidance less strict than the established UK position on PFOF.
07/15/2021
Recent Updates of the Cayman Islands Economic Substance Regime bring certain partnerships into scope
This expansion of the regime’s scope necessitated amendments to certain key terms in the Schedule to the ES Act (e.g. broadening of the definitions of “entity” and “relevant entity”) and the addition of new terms.
07/15/2021
Tackling the Gender Pay Gap and Pay Transparency in Ireland
The changes will be introduced on a staggered basis, beginning with larger employers.
07/15/2021
Resealing of Foreign Grants of Probate in the British Virgin Islands
This means that where an individual held shares in a company incorporated in the BVI, the grant of representation will be required in order to deal with those company shares.
07/15/2021
Funds & Investment Management Update - Ireland and Luxembourg - Q2 2021
Other notable developments include the CSSF’s updated guidance on granting loans to the public and updates to its UCITS and AIFM FAQs, the publication of a Circular on remote working as well as further EU sustainable finance developments.
07/15/2021
European Commission announces new European green bond standard
The Taxonomy Regulation sets out a classification of economic activities as environmentally sustainable.
07/15/2021
New Legislation gives Guernsey Revenue Service new Powers and Extends FATCA/CRS Reporting
The Revenue Service will now have the power to enter any business premises to inspect the premises and any documents therein.
07/14/2021
Crowdfunding service providers excluded from investment services legislation in Cyprus
Legal persons providing crowdfunding services are now expressly excluded from the provisions of the Investment Services and Activities and Regulated Markets Law 2017, as amended.
07/14/2021
Court rules on validity and enforceability of time limitation clauses
In the case, MEC Dept of Transport KZN v Raubex KZN (Pty) Ltd and another, the Department of Transport for KwaZulu-Nata and construction company Raubex agreed a contract for routine road maintenance.
07/14/2021
Company directors of UK large public interest entities: watch your steps!
Company directors should also note that its aim is to reform corporate governance standards too.
07/14/2021
Irish court grants pan-EU preliminary injunction in trade mark dispute
The court issued a preliminary injunction in a ruling that builds on the Supreme Court decision in the case of Merck and Clonmel
07/13/2021
UK government announces further anti-pension scams plans
The government agreed with the committee that there should be more focus on the issue of ‘secondary scammers’
07/13/2021
UK court backs rights holder in ‘essential’ patent dispute
The law in respect of the doctrine of equivalents is evolving, and the courts have not yet had the opportunity to fully consider if, or how, it applies to the validity of a patent.