05/23/2021
UK adopts bespoke global anti-corruption sanctions regime
Readers may remember that the UK's autonomous sanctions regime came into effect at 11 pm on 31 December 2020
Government Regulation
05/21/2021
Bermuda Registrar of Companies New Registry System: Impact on Economic Substance Declaration Portal
Economic Substance Declarations that have been started must be finished and submitted by 3 June.
05/21/2021
Court backs Irish regulator on Facebook data transfers inquiry
Those questions were focused around the adequacy of data protection provided by legal tools many businesses rely on for transferring personal data outside of the European Economic Area (EEA) in the course of their operations, including to the US.
05/21/2021
UK pension transfers to be subject to red flag anti-scam regime
For transfers to occupational pension schemes, trustees will need to confirm the member has demonstrated an employment link with the scheme before the transfer takes place.
05/21/2021
Independent financial adviser prohibited from finance industry
Our investigation also concluded that Mr Hussain continued to have contact with clients when the regulator had imposed directions on him not to do so.
05/21/2021
Court Dismisses Flawed Restrictive Covenants – Why Jersey and Guernsey Employers Should Review Contracts
The judge also declined to enforce the non-solicitation and non-dealing covenants on the same basis.
05/21/2021
Latin American Investor Files Six-Figure Northstar (Bermuda) Fraud Claim Against Truist Investment Services
The claimant invested mostly in bank products and checking and savings accounts with SunTrust.
05/21/2021
Remuneration disclosures improving among UK companies, research finds
“Many companies are going to have to do better if they want to ensure greater investor support for their directors’ remuneration report at their next AGM,” Benns said.
05/21/2021
Scaling the climbing wall
Escalation and cascade in financial institutions
05/20/2021
China bans financial, payment institutions from cryptocurrency business
China has banned crypto exchanges and initial coin offerings but has not barred individuals from holding cryptocurrencies.
05/20/2021
The just and equitable winding up jurisdiction in Jersey: loss of substratum
The article explains how the Jersey courts have taken a commercially flexible, yet rigorous approach when considering applications to wind up a company on the ground of loss of substratum.
05/20/2021
CBI Calls for UCITS Managers to Review Liquidity Risk Management Frameworks
Under the CSA NCAs undertook a two-stage assessment of compliance by UCITS managers with liquidity risk management rules.
05/20/2021
Ireland Update: Industry Letter – UCITS Liquidity Risk Management
The Central Bank’s review formed part of the European Securities
05/19/2021
Victoria joins renewable hydrogen certification scheme
The Zero Carbon Certification Scheme is a renewable hydrogen certification that was launched in December by the Smart Energy Council.
05/19/2021
Snapshot: bearer share companies in the British Virgin Islands
Regulatory reforms to improve corporate transparency and crackdown on white collar crime prompted most offshore jurisdictions to reform their bearer share regimes.
05/19/2021
BVI introduces data protection regime
The background to this is of course the drive for the BVI to become equivalent with the UK and European Union in this area, in particular under the EU’s General Data Protection Regulation.
05/18/2021
Firms must change tack to meet financial regulators’ expectations on supplier risk
Currently, many firms treat outsourcing risk as a separate and distinct category from the broader one of third-party operational risk.
05/18/2021
The rise in scams and the threat to a legitimate financial services industry
The FCA detected the promotion on the same day it appeared and started immediate inquiries.
05/18/2021
Mourant Regulatory Update - Guernsey Corporate - Q1 2021
If you have any queries in relation to any of the topics raised, or if there are any areas you think it might be useful for us to cover, please don’t hesitate to get in touch.
05/17/2021
Ireland's Implementation Plan to Tacle Economic Crime and Corruption
This is a further step towards the passing of new legislation to set up an independent Corporate Enforcement Authority which is intended to replace the existing Office of the Director of Corporate Enforcement.