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

The Grand Court of the Cayman Islands considers when it will appoint provisional liquidators over restructuring officers

This test is now the relevant test for the appointment of a restructuring officer under section 91B.

New scheme introduced in Jersey to improve the quality of rented accommodation

As discussed in our landlord licencing briefing, the Scheme aims to improve the quality of rented accommodation in Jersey.

REITs’ Clean Energy Tax Credits Transfer Options Under IRA Clarified in Final Regulations

The cash payments are not included in gross income of the eligible taxpayers and are not deductible by the unrelated taxpayers.

UK ‘cookie law’ enforcement not dependent on complaints

The fact that no complaints were made to the ICO by individuals who received emails from JTT formed a core component of JTT’s appeal.

Frustration in Irish contracts: more on the Law Reform (Contracts) Bill 2024

This approach aims to balance the financial implications of a frustrated contract, ensuring neither party is unduly advantaged or disadvantaged by the unforeseen event leading to frustration.

Forbes Q&A with Ladan Stewart on SEC crypto enforcement

Stewart also shared her thoughts on the SEC's enforcement priorities in the crypto landscape

HKIAC Administered Arbitration Rules get a face lift

This provision demonstrates HKIAC's commitment to fostering varied and inclusive representation.

Impact of SFDR on U.S. Fund Managers

The SFDR sets out categories for funds and template disclosures and reports, depending on the level of sustainability-related ambitions of the fund sponsor.

Discovery Series: The Cayman Grand Court's approach to Discovery Protocols

These documents are then used by the parties to build their cases and may later deploy them as evidence in the trial.

Hong Kong SAR courts unlikely to intervene in arbitration award outcomes

Arbitral awards in Hong Kong SAR are typically final and binding and, in most cases, there is no ordinary right to appeal based on errors of fact or law.

Beneficial ownership registers: Jersey’s latest consultation paper on access to information

The aim is to allow access to those persons in 2024 and to "develop and deliver legitimate interest access in a leading timeframe".

High Court casts doubt on South Africa tender scoring system’s constitutionality

The decision follows two separate applications against the city of Cape Town, brought by H&I Civil & Building and H&I Constructions, subsidiaries of the H&I Group.

European Commission makes first ‘qualitative’ designation under Digital Markets Act

Under the DMA, a digital firm can be “presumed” to have gatekeeper status in respect of a core platform service

Cayman Islands Update: AML Amendment Regulations 2024

The bulk of the changes were to make it clear that compliance requirements apply not only in the context of anti-money laundering

EMIR Refit: Key Changes and Considerations

The Maples Group provides both legal and operational support to banks, fund managers and swap counterparties in meeting the ongoing obligations of EMIR

US Treasury Releases Final Regulations Addressing Domestic Control Determinations Under FIRPTA

The final regulations generally follow the proposed regulations issued in January 2023, with certain changes discussed below.

Eastern Caribbean Supreme Court Issues New Practice Directions

The above summary will be supplemented shortly by an article discussing the “ins” and “outs” of the newly adopted practice directions.

New offence of failure to prevent bribery – Guernsey

To remedy this, Guernsey has now introduced offences of failure by corporate entities to prevent bribery and facilitation of tax evasion

The Corporate Transparency Act: US CLO Co-Issuers and Issuer Subsidiaries

In scenarios where these vehicles are within scope of the CTA, the Maples Group provides a dedicated range of CTA services, which will significantly alleviate the regulatory and compliance burden for clients and US counsel from this legislation.

Pension Ombudsman highlights importance of clear fee information

In particular, he claimed that the documents he received before setting up the account did not state how much the fees would be, and other fee documents received later lacked transparency.

Government Regulation