08/08/2022
Bermuda Expands Applicability Of Its Investment Business Regime
Pursuant to both the Current IBA and the Amended IBA, “investment business” means engaging in one or more investment activities specified in the statute by way of business.
Government Regulation
08/08/2022
Draft DB funding and investment regulations: the next step in the journey
The Draft Regulations say that the maturity of a scheme is to be measured by the duration of its liabilities, meaning the discounted average time until pensions and other benefits are paid.
08/08/2022
China Amends Rules for Merger Control Filing and Review
China has increased fines for failure-to-file/gun-jumping for undertakings and individuals.
08/08/2022
UK’s National Crime Agency Suspects Auction Houses Are Being Used To Evade Sanctions
It is no secret that certain Russian oligarchs have deep roots in the art industry and have in the past used high-value art to circumvent sanctions and to launder money.
08/08/2022
Fintech Laws & Regulations Report 2022 – The Bahamas
The chapter, which is now available, outlines the fintech landscape, funding for fintech, regulatory regime, accessing of talent and technology in the jurisdiction.
08/08/2022
An Offshore Perspective on the Impact of New US-PRC Laws on China VC
The current and prospective impact of the new US-PRC laws and regulations on Cayman structured China VC companies mean that issuers must now consider different strategies:
08/08/2022
Opalesque Roundtable: The Bahamas’ Pioneering Legal Groundwork for Digital Assets Industry
The Roundtable report, which was published today, features fintech partner, Christel Sands-Feaste as one of the expert contributors.
08/05/2022
Clarity for Creditors When Settling with Multiple Debtors
In a significant judgment delivered earlier this year1 , the Court of Appeal held that those provisions of the Act do not apply to claims for the recovery of debts.
08/05/2022
Switching to SOFR: Proposed Rule Published to Implement the 2022 Federal LIBOR Act
The contracts include those governed by [US] law that do not mature before LIBOR ends and that lack adequate fallback provisions.
08/05/2022
Register of Overseas Entities holding UK land
The key point to highlight is that the register is not a register of beneficial ownership of UK land.
08/05/2022
The Procurement Bill: progress through the House of Lords
Following the UK’s exit from the EU, the government has set out major reforms to the rules governing public sector buying in the new Procurement Bill
08/04/2022
Russian sanctions evasion – key indicators for regulated firms
The principal focus of the Alert is the transfer of assets from a DP prior to asset freezing sanctions being imposed, particularly where the staggered imposition of asset freezes across a number of jurisdictions gives DPs the opportunity to move assets.
08/04/2022
Simmons supports Mainstream on Lekela Power disposal
Simmons has advised Mainstream Renewable Power Africa Holdings Limited (MRPAH), on the sale of its interest in Lekela Power.
08/04/2022
Financial services regulatory update - August 2022
The new regime is a key component of the FCA's Consumer Investment Strategy, which it published in September 2021.
08/04/2022
Decryption - understanding virtual asset regulations in the EU, UAE and UK
Policy makers, governments and regulators in different jurisdictions have taken varied approaches to crypto-assets, and activities related to them.
08/04/2022
Gender pay gap in UK energy sector falls but energy transition risks progress
This action is welcome, particularly at a time when the sector is grappling with challenges around energy security, climate-related policy and regulation, and the skills shortage.
08/04/2022
A matter of Principle (12): FCA finalises Consumer Duty rules and guidance
The Consumer Duty will apply to new and existing financial products and services that are open for sale or renewal from 31 July 2023
08/03/2022
US Inflation Reduction Act Includes Changes to Carried Interest Taxation
Congress enacted Section 1061 as part of the 2017 Tax Cuts and Jobs Act to reform the tax treatment of service providers that receive a carried interest in funds or certain other investment vehicles.
08/03/2022
Bahamas: Aviation Finance & Leasing
The Guide is produced in association with The World’s Leading Lawyers.
08/03/2022
Hong Kong SFC's New Rules on Bookbuilding & Placing Activities Come into Effect – 5 August 2022
This latest note summarises additional guidance issued by the regulators and transitional arrangements for offerings that will straddle the effective date of the new requirements.