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HSF Financial Regulation: Daily Update

The FCA explains that the review does not represent a shift in FCA policy or changes in firms' requirements.

Mergers and acquisitions: BVI companies

In 2012, the Amendment Act introduced section 240A into the Act in relation to listed companies.

2022 – The year of regulation of digital assets

But they would do well to keep in mind that with regulation comes opportunities, particularly for those who understand the benefits of regulation and who are willing to become first movers in the globally regulated digital asset space.

A guide to arbitration in the Cayman Islands

In 2020, the Chartered Institute of Arbitrators (CIArb) established a new Cayman Chapter

Five chapters authored for Fraud, Asset Tracing & Recovery 2022 (CDR)

The guides include commentary on legislative, regulatory and enforcement developments in what is a fast moving field and an area in which we have significant expertise and experience covering both local and international matters.

Substratum – what is it and do I need to worry about it?

The substratum principle is inexorably linked with the doctrine of fraud on a power - that a power cannot be used for a purpose other than that for which it is given.

The Symposium featured presentations by Executive Deputy Superintendent, Justin Herring

In addition, an expanded list of “minimum controls” – beyond encryption and multifactor authentication – can be expected.

US SEC Issues SAB 121: Accounting for Custody of Crypto-Assets

This Legal Update focuses on who is affected, what the affected entities need to do and when the guidance applies; summarizes Commissioner Hester M. Peirce’s response to the Bulletin; and discusses some practical considerations for affected entities

SEC Proposes Significant New Rules for Private Fund Advisers

While the Proposed Rules are still in the comment period, private fund advisers and investors alike should familiarize themselves now with the many changes that the Proposed Rules would impose.

Sanctions Tracker – U.S. Imposes Broad New Restrictions on Investment in Russia

These new restrictions will likely have a broad impact for U.S. and non-U.S. companies doing business with Russia.

Sports and Crypto: $A Sign of things to come?

The ASA’s ruling, however, may be indicative of the anticipated sea-change by way of increased regulatory scrutiny of cryptoassets.

EU authorities update disclosure regulation transition guidance

The new supervisory statement clarifies the ESAs' expectations towards market participants and national competent authorities to use the new transition period until 1 January 2023 to prepare for the application of the Commission's delegated act.

The case for deferred prosecution agreements in South Africa

The resolution of corruption also serves a greater societal good and can ensure that wrongdoers do not remain in positions where they can cause further harm.

Cayman freezes US$7.3 billion in Russian assets

These amendments include new financial, trade, and maritime measures, and restrict specified financial services with the Russian Central Bank and other Russian Federation agencies.

Russian sanctions: the impact of UK, EU and US sanctions for UK and EU businesses

New sanctions are coming into force and existing sanctions are being amended without notice or often with no or little lead in time to comply.

The Bahamas Takes A Step Closer to Compliance with all 40 FATF Recommendations

The Proceeds Of Crime Act, 2018 and The Register of Beneficial Ownership Act 2018. These amendments considerably strengthen mechanisms for enforcement.

OECD releases draft Model Rules on Scope of Amount A under Pillar 1

An anti-abuse provision will apply as a deterrent to prevent a group that is held under certain types of entities from being artificially fragmented into numerous groups in order to circumvent the scope rules.

Pension trustees given scope for private market investment through UK proposals

The government said it also proposed to introduce regulations that require relevant DC schemes with over £100 million in total assets to publicly disclose and explain their default asset class allocation in their annual chair’s statement.

Building safety reform brings challenges for real estate funders

The requirements here remain to be specified by the HSE but due diligence and funding on trade sales and enforcements of existing buildings may become more challenging.

Fitness and Probity Notice: Bringing New Retail Credit Providers in Scope

The Notice outlines proposals to expand the scope of the Consumer Protection Code 2012

Government Regulation