05/13/2022
BVI governor launches raft of criminal investigations in wake of corruption inquiry
In addition, an investigation would be made into possible corruption within HM Customs (COI Recommendation B40).
Government Regulation
05/12/2022
Snapshot: obtaining indemnity costs against a litigant in Jersey
Ogier successfully appeared for BDO and Creditforce, and obtained an indemnity costs order against a trustee previously found to have misappropriated trust assets.
05/11/2022
Herbert Smith Freehills Financial Regulation Daily Update
The FCA plans to publish its final report on the multi-occupancy buildings insurance market by 28 July 2022.
05/11/2022
EU sanctions: application of trusts measures outside the private trusts sphere
They also apply to all business done by non-EU persons in whole or in part within EU territory, including its airspace and on any aircraft or vessel under an EU member state's jurisdiction.
05/11/2022
Cayman Court intervenes to preserve segregation of captive insurance portfolios
SPCs consist of one overarching legal entity
05/11/2022
International Law Recourse for Potential Expropriation of Foreign Assets by Russia
Essentially, the proposed regime would allow the Russian government to take control over Russian assets of foreign companies that have recently made a decision to leave Russia
05/11/2022
Winding Up an Exempted Limited Partnership: How Long Will Cayman Islands Law Remain in a Judicial State of Flux?
The resolution of these debatable legal issues is not only of legal or academic interest: since these issues also have significant commercial implications.
05/11/2022
European Banking Authority Publishes Final Draft Regulatory Technical Standards on EU Risk Retention
Article 6 of the EU Securitisation Regulation requires the originator, sponsor or original lender of a securitisation to retain on an ongoing basis a material net economic interest of not less than 5%, using one of five possible methods.
05/11/2022
BVI Court freezes crypto wallets
The Respondents however failed to show up to Court giving the Judge little difficultly in deciding to continue the injunction and associated relief.
05/10/2022
Additional liquidator appointed to mitigate conflicts of interest in the winding of a Cayman SPC
The Grand Court's decision on the application helpfully sets out how recoveries and costs are to be managed in the liquidation of a segregated portfolio company
05/10/2022
Pandora Papers shed light on ‘gatekeepers’ of dirty money
MONEYVAL rebuked governments across Europe for failing to combat money laundering or police lawyers, accountants and other professionals who facilitate financial crime.
05/10/2022
Outsourcing Cayman Islands AML/CFT compliance obligations
This guide provides a practical overview of the relevant steps and considerations which should be borne in mind when a financial service provider plans to outsource, or is reviewing existing outsourcing arrangements relating to the performance of an AML/C
05/09/2022
Bankruptcy & restructuring in the Cayman Islands 2022
Despite the global economic challenges arising from the coronavirus (COVID-19) pandemic, we have not seen a rise in pre-2020 insolvency and restructuring activity.
05/09/2022
Digital Markets Act: Commission’s expectations on timeframes clarified
The Commission will be responsible for enforcing compliance with the DMA.
05/09/2022
Directors should take note of recent updates to Irish corporate law
Future legislation is expected to put some of these measures on a permanent basis.
05/09/2022
Reforms to UK competition law and merger control regime confirmed
The government has also decided against legislating specifically for the handling of whistleblowers in the context of competition law cases.
05/09/2022
New Charities Law to be introduced in Guernsey
Guernsey is introducing legislation to regulate the charitable sector.
05/08/2022
Financial Regulation: Daily Update
The FCA is more resilient to the economic and geopolitical disruptions of today
05/06/2022
Digital Services Act agreed by EU law makers
Fines of up to 6% of the annual global turnover of will be able to be levied on online platforms and search engines that fail to comply with the new legislation.
05/06/2022
European data protection authorities agree to enhance cooperation
The EDPB said there are qualitative and quantitative criteria that the authorities will refer to for collectively identifying when a cross-border case is to be subject to the enhanced cooperation measures.