09/29/2021
Jersey employers take note: statutory redundancy and minimum wage increases
Redundancy: increase in the maximum statutory redundancy entitlement
Government Regulation
09/29/2021
GCC Quarterly Review Q3 2021
The third quarter of 2021 saw a number of legal developments in the Gulf Cooperation Council (GCC) region (Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates).
09/29/2021
ESG/Sustainable Investments - How Jersey Law is Adapting to Fight Greenwashing
The Investment Business Code of Practice will also be similarly updated in due course.
09/28/2021
UK Government launches consultation to reform the UK’s data protection regime and diverge from EU rules
The European Commission did warn the UK Government when issuing its adequacy decisions that its decisions could be revoked "immediately" if the UK Government weakens its data protection standards
09/28/2021
UK government proposes making flexible working the default
Although the consultation does not propose a ‘right’ to flexible working, it said it wanted to make flexible working the default with a right for an employee to request flexible working patterns from day one of a new job.
09/28/2021
European Green Deal
The “Fit for 55 Package”
09/28/2021
Making gifts under a lasting power of attorney in the UK
In all circumstances, the amount of the gift must be of reasonable value given the value of the individual’s assets.
09/28/2021
US: Regulatory order serves as a message to all about cybersecurity and governance
The Order requires the bank to develop an Action Plan to achieve compliance with the regulations.
09/28/2021
Head sought for bank failure watch group
Jill Britton, JFSC Director of Supervision, commented: “As the regulator, our role is to supervise banks, making sure they are operationally sound and minimising the likelihood of failure.
09/28/2021
FINRA Targets Firms' Social Media Activity
FINRA will look at how firms acquire customers through social media, particularly through outside influencers with large online followings.
09/28/2021
Guernsey Bar hopefuls continue virtual attendance at University of Caen
Importantly, not only were all local firms and employers of aspirants supportive of the solution offered by Carey Olsen but the University of Caen and lecturer Sophie Poirey were equally pleased and excited to embrace the new Caen experience.
09/28/2021
Irish Regulatory Framework for Real Asset Depositaries
It sought feedback from industry on the proposed regulatory framework and earlier this year issued its long awaited guidance1 on the regime.
09/28/2021
Jersey employers take note: statutory redundancy and minimum wage increases
This is an entitlement enshrined under the Employment (Jersey) Law 2003, as amended and is an obligation imposed on all employers to pay to their employees in the event of redundancy.
09/28/2021
Isle of Man FSA bans two directors from regulated activity
The directors of IF Ltd, Mr Christopher Stirk and Mr Christian Burton do not hold the requisite licences in their own names to undertake any regulated activities in or from the Isle of Man or hold themselves out as doing so.
09/28/2021
INSOL Channel Islands Conference 2021 – Round-up of key points
The seminar, which provided a welcome opportunity for insolvency practitioners and advisers to reconnect in person, showed why Jersey and Guernsey remain leading locations for structuring complex financial transactions and for the secured lending market.
09/27/2021
ESMA Consults on Proposals for a Review of the MiFID II Best Execution Reporting Regime
These proposals aim at ensuring effective and consistent regulation and supervision and enhancing investor protection.
09/27/2021
Irish Regulatory Framework for Real Asset Depositaries
The Central Bank’s guidance states that a DAoFI may only be appointed to act for authorised AIFs which are qualifying investor AIFs
09/27/2021
Financial Regulation: Daily Update
The roadmap sets out four recommendations, underpinned by 13 specific actions, to support defined contribution pension schemes with investing and to develop the long-term asset fund structure.
09/26/2021
Dubai Abolishes DIFC-LCIA Arbitration Centre and Moves to Revamp DIAC Arbitration
For parties entering into new arbitration agreements, it would seem important to immediately refrain from specifying the DIFC-LCIA Rules.
09/24/2021
Dubai decree changes Dubai disputes landscape
The DIFC-LCIA arbitration centre is effectively a partnership between the DAI and the London Court of International Arbitration.