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

Retained EU law reforms come into force in the UK

The Act has removed the special features of EU law that governed the interpretation and application of this legislation.

Collas Crill Cayman now registered as a limited liability partnership (LLP)

Collas Crill LLP converted from a general partnership trading under the name Collas Crill on 29 December 2023.

DOJ Announces Largest Stark Law FCA Settlement Since 2006

The Stark Law broadly prohibits providers from billing for certain services referred by physicians with whom they have a financial relationship.

U.S. Antitrust Agencies Finalize New Merger Guidelines Intended to Reinvigorate Merger Enforcement

The impact of the 2023 Merger Guidelines on courts remains to be seen.

DOJ Announces Largest Stark Law FCA Settlement Since 2006

Community engaged a valuation firm to prepare formal fair market value (“FMV”) opinions

Seychelles to Introduce Framework for Regulation of Virtual Assets and Virtual Asset Service Providers

A licence shall be required for VA Wallet Providers, VA exchanges, VA Broking, VA Payment Providers and VA Investment Providers operating in or from Seychelles.

Challenges of Taking Security over the Shares of a Licensed Insurer

As the result of the market-leading position of our insurance practice, we have had the chance to advise on many of the more complex deals in the market

A Deep Dive into TC260’s Proposed Guide for GBA Cross-border Data Transfer

The Draft Guide provides protection standards for cross-border data flow

Paperless Listing Regime and Mandatory Electronic Dissemination of Corporate Communications

In such circumstances, amendments would need to be made to a listed issuer’s current bye-laws or articles of association for compliance with the paperless listing regime.

Ombudsman annual report highlights ‘good news’ for UK pension schemes

The report sets out the PO’s main focus areas for 2023-24, including measures to reduce wait times and deal with more complex cases in a more thorough way.

UK Digital Securities Sandbox set to take effect

The idea is to support models and structures that would not be permitted under the existing framework.

Guide to Gambling Law in the Isle of Man 2024

Casino gaming is regulated by the Casino Act 1986 (CA 1986).

Diving into the section 48 investment tax credit proposed regulations

The notice of proposed rulemaking consists of several proposed amendments to the existing Income Tax Regulations under section 48 of the Internal Revenue Code (Code).

Positive Development for the Cayman Islands: EU AML Delisting Process Commences

The Commission consulted the EU's Expert Group on Money Laundering and Terrorist Financing before adopting the Delegated Regulation.

Converting a PIC to a Standalone Licensed Entity

A significant benefit of the PIC product has always been the ability of a sponsor/group to utilise a PIC to dip its toe into Cayman regulatory waters

AI cannot be an inventor under UK patent law, rules Supreme Court

The UK’s highest court reiterated the views expressed by lower courts in the country

GDPR cyber liability and compensation rights clarified by EU court

In its ruling, the CJEU also provided further clarification of the circumstances in which individuals may be eligible for compensation in the event their personal data is compromised in a cyber incident.

Cayman Islands Continuations

Before proceeding with a continuation to the Cayman Islands, persons are advised to consult their tax, legal and other professional advisers in their respective jurisdictions.

Construction companies need to mitigate growing risks of disclosure of electronic communications

The risks around candid electronic communications being made public have been realised in the most public and dramatic of ways in the last couple of years

Bermuda: How to Improve IT Project outcomes

The British Government is among the most recent victims of a large IT project failure.

Government Regulation