- Managers of Wealth - Legal - Wealth, private banking and asset management news and opinion

UK government’s ZEV green paper a ‘significant change in direction’ on HGVs

If not fully zero emission, all new cars and vans sold in the UK between 2030 and 2035 must also have ‘significant zero emission capability’ (SZEC).

Regulatory risk ‘shifting upwards’ as FCA publishes new-look business plan

The plan targets the three areas in the FCA’s three-year strategy where it said it will strengthen its focus: ‘reducing and preventing serious harm’, ‘setting and testing higher standards’, and ‘promoting competition an

Prescription begins to run once there is a reasonable suspicion of negligence by the auditors

Between 2007 to 2013, WK Construction suffered a loss of approximately ZAR80-million as a result of one of its erstwhile directors effecting fraudulent transactions.

Grand Court Upholds Novel Use Of Receivership To Enable Beneficial Owner Of Shares In Cayman Investment Funds To Access Statutory Shareholder Protections

This was particularly problematic where there were serious concerns of wrongdoing in the management of the relevant fund.

SEC Proposes to Expand Interpretation of “Dealer” and “Government Securities Dealer” Definitions

Congress defined “dealer” in the Securities Exchange Act of 1934 (Exchange Act) as a person engaged in the business of buying and selling securities for such person’s own account.

Central Bank of Ireland makes changes to controlled function roles for financial firms

All existing PCFs classified as PCF-2 will automatically be classified as PCF-2A, ‘non-executive director’, unless a firm notifies the CBI that they should be an independent non-executive director.

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.

Government Regulation