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The DMA is here – What’s next?

It will ultimately also determine the DMA’s success as the most significant addition to the Commission’s regulatory toolbox since the first iteration of the Merger Regulation in the 1990s.

Gender Pay Gap Reporting in Ireland

The GPG report must be published within six months of the snapshot date

The Great Debt Experiment

With debt at more than 3 X global annual output, the resilience of the world financial system and its ability to withstand further shocks is the subject of much debate.

Amendments to Investment Business Act 2003

As a result, entities which carried on investment business outside of Bermuda with no such premises in Bermuda (“Non Resident Providers”) and entities qualifying for an exemption from the requirement to be licenced under the IBA were not regul

With-profits insurance: Irish providers should look to UK regulatory regime

The UK regulators have adopted a standalone with-profits regime which applies to with-profits business in addition to the general regulatory rules.

Economic Substance Update: Compliance Reviews,Proposed Penalties and Filing Declaration Preparations

In order for the Registrar to demonstrate the effectiveness of its supervisory framework, it will undertake both desktop and on-site audits of Bermuda entities.

Expansion of Russian Sanctions Regime in Bermuda

Appleby is actively tracking these developments, and is advising clients on the legal and practical impacts of these measures.

Non-fungible tokens: a fiduciary, tax and legal snapshot

NFTs are traded on specialized NFT marketplaces, such as OpenSea and Nifty Gateway, which are platforms on which people link crypto wallets and exchange NFTs for the types of cryptocurrencies supported in the respective marketplace.

Complexity around directors’ duties owed to Irish insurers

The duties which apply to an Irish director were codified in the Companies Act and were the subject of a lot of market commentary at the time.

The Economic Crime (Transparency And Enforcement) Act 2022: An Isle of Man Perspective

The Act will apply to all Isle of Man entities that are treated as legal persons under Isle of Man law.

The Financial Services Commission Confirms Processing Fees and Licensing Criteria

The FSC is confident that the Processing Fees Regulations will foster early bird applications for the VASP licences and registration of initial token offerings

Finally, interim measures in Italian arbitration

It remains to be seen how, and in what form, the new legal principles will, in practice, be implemented by legislation.

ESMA Consultation on Notifications for Cross-Border Marketing and Management of Funds

The ITS and RTS will also clarify the procedure for the communication of the relevant notification file by the relevant home NCA to the host NCAs of the Member States where these activities are envisaged.

How financial institutions can manage third-party risk in material non-outsourcing contracts

There are a number of ways that financial institutions can apply some flexibility in how they implement third party risk regulatory requirements within material non-outsourcing contracts.

SEC Proposes Amendments to Rule Governing Fund Naming Conventions, Including Use of ESG Investing Practices

Depending on the circumstances and the type of fund name, an 80% Investment Policy may be fundamental or non-fundamental.

AIFMD Rapporteur proposes widening of ‘professional investor’ definition under AIFMD

These individuals do not currently fall within the definition of professional investor.

Mourant Trusts Forums 2022

Attendees heard discussions on whether traditional trust structures were still fit for purpose in the modern era and discussions on panellists' experiences with fund-like and collective investment vehicles in a private client context.

CASS governance: four factors for compliance

That’s why, in this blog, we break down the key factors that underpin effective CASS governance.

ESMA Provides Supervisors With Guidance On The Integration Of Sustainability Risks And Disclosures In The Area Of Asset Management

This work will help combat greenwashing by establishing common supervisory criteria for National Competent Authorities (NCAs), to effectively supervise investment funds with sustainability features.

Guernsey legal and regulatory update June 2022

Together with the Guernsey Green Fund, this new designation would allow Guernsey funds a choice of complementary sustainability designations based on globally agreed environmental standards.

Government Regulation