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UK-EU Banking and Investment Regulation

HM Treasury's response to the feedback to its consultation on near-term bank ring-fencing reforms

Laws to disrupt ransomware payments considered in the UK

On the new ransomware reporting regime that is proposed, the Home Office pledged “proportionality”.

Luxembourg law addresses EU AI Act enforcement

Under the draft law, the CNPD would also be required to set up a regulatory sandbox for AI as part of its proposed new duties.

EBA Publishes Final Guidelines on the Management of ESG Risks

The guidelines set out requirements for institutions regarding the identification, measurement, management, and monitoring of ESG risks.

Amendments to Cayman Islands suspicious activity reporting regime now in force

Revisions include changes to the suspicious activity reporting (SAR) process administered by the Cayman Islands Financial Reporting Authority

Stig of the Dump meets crypto: how one hard drive ended up in legal landfill

The Council refused, citing environmental, permitting and public safety concerns.

Update to the Cayman Islands Proceeds of Crime Act – Changes to the suspicious activity reporting provisions

In order not to commit a Core Money Laundering Offence they must also have received consent, known as a defence against money laundering ("DAML"), from the FRA following the making of the SAR.

UK AI action plan provides for shift in regulatory approach

The recommendation was contained in a new report published on Monday, the AI opportunities action plan.

Insurers’ cyber resilience under PRA spotlight in 2025

The regulator has decided to postpone its previously announced dynamic general insurance stress test

Law ‘must continue to evolve’ in line with a rapid shift towards a digital society

The court had to decide whether there was any other compelling reason for the claim to be disposed of at trial, rather than summarily.

Colluding bidders for UK public contracts risk debarment in 2025

The debarment regime provides for the notification of businesses of the intention to designate them as ‘excluded’ or ‘excludable’ suppliers

BVI Approved Managers and Approved Funds: Upcoming Filing Deadline – 31 January 2025

BVI Approved Managers are required to file an annual return with the BVI Financial Services Commission (the “Commission”) by 31 January 2025

The Legal 500 Real Estate Country Comparative Guide - Jersey

Once passed before the Royal Court, the contracts are registered in the Public Registry of Jersey and are thereafter available for public inspection.

HMRC reminds charities of VAT treatment for non-business income

HMRC acknowledged in its letter that “this can be a complex area of tax”. It suggested that charities “may want to ask an adviser for help”.

Beneficial ownership information developments in the BVI

With the new requirements in effect from 2 January 2025, there is now a statutory obligation for all BVI companies

Carbon credits, crypto, cannabis and defence tech: Navigating regulatory challenges for investing in sensitive assets in Jersey

Jersey has a good track record in considering and granting approvals in respect of fund vehicles

Update on BVI Business Companies (Amendment) Act and BVI Business Companies and Limited Partnerships (Beneficial Ownership) Regulations

Certain of these Amendments are to be amplified in BVI Business Companies Regulations to be brought into effect at a later date.

Government Regulation