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

Cayman Islands Update: Witnessing Deeds or Instruments Remotely in a Covid-19 World

Practically it would seem prudent, given the possible temporary nature of the amendment introduced by the 2020 Act

FinCEN Launches Regulatory Process for New Beneficial Ownership Reporting Requirement

The CTA requires FinCEN to maintain the reported beneficial ownership information in a confidential, secure, and non-public database.

New watchdog to boost online competition launches

A tough new regulator to help make sure tech giants such as Facebook and Google cannot exploit their market dominance to crowd out competition and stifle innovation online has launched.

New resource to help Commonwealth countries avoid foreign investment pitfalls

Co-author Howard Mann, an international lawyer specialising in international investment law and sustainable development, spoke on the importance of prioritising domestic laws in relationships between states and investors.

Directors of BVI companies: to whom do you owe duties if your company is experiencing financial stress?

Other companies will be forced to abandon, or at least delay, planned growth projects.

Cayman Court provides clarity on costs

Pursuant to the terms of the loan, ZZHK also had a contractual entitlement to recover its costs of the rectification application from Geoswift.

The SFDR – get it right from the start

The SFDR has now become a reality, with EU funds and non-EU AIFs marketed within the EU being obliged, as an initial step, to have updated their prospectuses by 10 March 2021, requiring investment managers to classify their fund product into one of three

Key trends from the boardroom in 2021

This has been further exacerbated by the impact of the COVID-19 pandemic on the financial system, leading to a push by investors for ESG-focused initiatives and an increased emphasis on a company’s responsibilities towards wider society.

South African exchange control – relaxation of loop structures

The level of disclosure required needs to be balanced against any potential tax and estate duty savings and most importantly whether the return on the investment outperforms current returns on invested funds.

International arbitration in 2021

Arbitration and climate change

A digital art gold rush? – the regulators are watching

In a demonstration of the new economics impacting the art market, Christie’s accepted cryptocurrency, in this case Ether, in addition to standard forms of payment for the sale of the singular lot.

New guidance on UK penalties for sanction breaches signals tougher approach

The Guidance updates the factors that OFSI will take in to account when determining whether to take enforcement actions and what those actions might be.

Germany Ministry of Justice proposes wide-ranging protection for whistleblowers

The draft bill aims to expand the hitherto incomplete protection of whistleblowers and create legal certainty for them.

Moving the goal posts: European Commission new guidance on merger referral policy to catch non-reportable deals

The Guidance is part of a broader package including a Staff Working Document foreshadowing a somewhat broader reform of the EUMR. This blog post focuses on the new Article 22 Guidance.

Groupthink: is your Board immune to this risk?

The fact that directors reached consensus views in advance of Board meetings, leading to insufficient debate and a blindness to colleague concerns, was also cited as an example of poor governance approach.

Canadian securities regulators outline regulatory framework for compliance for crypto asset trading platforms

“The guidance in our notice details steps platform operators need to take to comply with securities legislation as they prepare to fully integrate into the Canadian regulatory structure,” said Louis Morisset

SGX to Open Up Listings to Special Purpose Acquisition Companies (SPACs)

This is a significant development for capital markets in the region and will help bolster Singapore as a leading gateway for fund raising.

Financial services regulatory update - April 2021

The regulators released the long-awaited policy papers on operational resilience for financial services firms

Director disqualification: 12 year disqualification penalty imposed in Guernsey

A prohibition order was initially made against the individual concerned, in this case, regarding his involvement in a business enterprise.

Five things you need to know about the Cayman Islands Private Funds Law

There are a number of annual requirements for private funds under the new PFL.

Government Regulation