12/21/2023
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).
Government Regulation
12/21/2023
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.
12/20/2023
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
12/20/2023
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
12/19/2023
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.
12/18/2023
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.
12/18/2023
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
12/15/2023
Bermuda: How to Improve IT Project outcomes
The British Government is among the most recent victims of a large IT project failure.
12/15/2023
FCA proposes to bridge financial ‘advice gap’ by rethinking advice framework
The FCA wants firms to do more to help consumers make better decisions
12/15/2023
Digital Markets, Competition and Consumers Bill amendments could lead to more mass actions
The DMCC Bill aims to introduce a suite of reforms to UK laws on digital markets, competition and consumer law.
12/15/2023
COP28: takeaways from our experts on the ground
It’s a significant step in the right direction, but it’s clear there’s a lot of work still to be done.
12/15/2023
Future financing – made in Germany – final
The standard provided for in the RegE for assessing the appropriateness of a chosen spending amount is incorporated into the law word for word.
12/14/2023
Guernsey investment funds update - Q4 2023
Directors subject to the Director Registration Regime were required to register by 1 October 2023
12/14/2023
The new UK Fundraising Levy review
The proposed changes are expected to come into effect in September 2024 to give charities some time to prepare.
12/14/2023
Auld Lang Syne and Other Important End of Year Administration for BVI Business Companies
The restoration of a dissolved company can be an expensive process requiring an application to the BVI Court.
12/14/2023
Report calls for changes to arbitration appointments to avoid bias
The common biases in this context include stereotyping, recency bias – a cognitive bias that favour recent appointments over historic ones; affinity bias
12/12/2023
The British Virgin Islands and the Common Reporting Standard
The Global Forum has already completed its assessment of the AEOI legal frameworks
12/12/2023
EU AI Act deal reached by lawmakers
Limitations to and exclusions on the scope of the legislation have been agreed by the law makers
12/11/2023
UK financial regulators set out plans for ‘critical third parties’ regime
The paper builds on a policy paper issued by the UK Treasury last year.
12/11/2023
Hogan Lovells Caribbean Desk partners with Caribbean Council for successful business mission to the Bahamas
International trade and foreign direct investment are strategic priorities for the government