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Let's Talk About Jersey Economic Substance: Holding Company Business

As a part of its base erosion and profit sharing (or BEPS) initiative, the European Union required OFCs, like Jersey

Surge in Interest from High Net-Worth Individuals Applying to Relocate to Jersey

As part of the relocation process applicants will be required to purchase a property locally.

Ireland | Directors' Duties – FAQ

Under the Act, directors’ duties are owed to the company and the company alone.

Russian Interior Ministry interested in creating cybercrime database with Central Bank

Detailed comments prior to creating such database are premature, the Ministry noted

US regulators urge financial firms to quickly ditch Libor rate benchmarks

"When a benchmark is mismatched like that, there’s a heck of an economic incentive to manipulate it," he warned.

CBUAE issues guidances for its licensed financial institutions on anti-money laundering and combatting the financing of terrorism

The Guidances will assist the understanding and mitigation of risks as well as the effective performance by the LFIs of their AML/CFT statutory obligations

International Data Transfers - New Transfer SCCs

Much like the New Transfer SCCs, the Processor SCCs are likely to represent the market standard for compliance in the coming years. As such, they merit a separate update.

Corries digs in for ex-miners’ pension justice

The lawyer said many workers’ pensions were reinstated after a UK government review in 1994 forced companies to allow former employees to re-join schemes.

The Wrecking Ball vs the Crystal Ball – planning a parallel scheme of arrangement

The obiter dicta in both cases is consistent with well-established Drax point.

EU takes Luxembourg to court over money laundering rules

European Commission started infringement procedure against Luxembourg in 2016 over late adoption of EU rules

ASIC Extends Australian Financial Services Licensing Exemptions For Foreign Financial Service Providers (FFSPS) Until 31 March 2023

This gives those FFSPs additional time to consider their options and to make a decision about next steps once Treasury’s upcoming consultation is complete.

Sustainable Finance: The rise and rise of ESG

The Covid pandemic further magnified the focus on ESG, with many people and businesses reassessing priorities in light of its acute and immediate human impact.

Damages ruling could undermine data breach class actions in the Netherlands

More than 64,000 parents across Europe have reportedly paid a fee to participate in SOMI’s claim

FCA introduces rule to protect customers from insurance ‘loyalty penalty’

As a result, the FCA included more guidance and detail on areas such as the treatment of incentives in the final rules.

Family Offices Receive Increased Regulatory Scrutiny

Review of the family office exemption could be addressed in several ways.

BMA Introduce 'May 2021 Guidance' for Digital Asset Business

The Bermuda Monetary Authority (BMA) recognizes the importance of actively monitoring its laws and regulations to ensure harmony with the undertakings which it regulates.

New independent group to help tackle ‘greenwashing’

The Green Technical Advisory Group (GTAG) will provide independent, non-binding advice to the Government on developing and implementing a green taxonomy in the UK context.

EU standard contract clauses bolstered for international data flows

The SCCs can be inserted into commercial contracts.

European Commission adopts new tools for safe exchanges of personal data

The Commission can adopt standard contractual clauses for the relationship between controllers and processors, as a tool to help to demonstrate compliance with the GDPR.

DBS issues first tokenised bond on digital exchange

DBS' current transaction combines existing legal and tax infrastructure requirements with a direct issuance on the digital exchange in smaller lot sizes, according to a report.

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