12/12/2022
Changes to Guernsey's insolvency regime in force from 1 January 2023
Exempt companies in liquidation from the requirement to have their accounts audited.
Government Regulation
12/09/2022
BVI Voluntary Liquidations Now Require a Locally Resident Voluntary Liquidator
The BVI residency requirement for a voluntary liquidator applies for appointments made after 1 January 2023 and in cases where joint voluntary liquidators are appointed, only one must be resident in the BVI.
12/09/2022
Diagnostic hubs raise tax and regulatory issues for landlords
The Department of Health and Social Care has said 91 such diagnostic centres are already operational and have delivered more than 2.4 million tests, checks and scans since July 2021.
12/09/2022
DIFC to regulate ‘buy now pay later’ products
To mitigate these issues, the regulator has proposed amending the current financial services activity of “providing credit” to expressly include those who finance the purchase of goods and services, bringing BNPL providers firmly in scope of t
12/09/2022
EU supply chain legislation: member states call for gradual approach
The Council's compromise text now expressly provides for a right of full compensation for victims of human rights or environmental adverse impacts.
12/08/2022
New flexible working rights good news for employees
The Employment Relations (Flexible Working) Bill (5 pages / 101KB PDF), proposed by Yasmin Qureshi MP, will require employers to consult with an employee before rejecting a flexible working request, and make a final decision within two months instead of t
12/08/2022
Contracting with segregated portfolio companies — what any lender should know
The priority position with respect to the security will relate only to the specific segregated portfolio and will have no bearing on that of any other segregated portfolio.
12/08/2022
Central Bank finalises macroprudential policy framework for Irish property funds
The framework, which was published after an industry consultation, also contains guidance to limit liquidity mismatch in property funds.
12/08/2022
FCA proposes new regime for mainstream UK investment financial advice
The proposals have been made following the regulatory body’s recent Financial Lives survey, which found around 4.2 million people in the UK hold more than £10,000 in investable assets mostly or entirely cash and are open to investing some of i
12/08/2022
Mourant acquires Luxembourg legal and governance services business
The acquisition will enable Mourant to provide clients with legal, corporate and entity management services from Luxembourg, one of the world's leading international finance centres and the second largest global funds centre.
12/07/2022
Guernsey Listed Funds
Guernsey's companies law includes many English companies law principles
12/07/2022
Update on s.21 gateway: FCA consults on introducing gateway for firms which approve financial promotions for unauthorised persons
Firms which approve financial promotions for unauthorised firms should review and consider these proposals carefully.
12/07/2022
EU GDPR Rules for intra-group international data transfers updated
The guidance is entitled “Recommendations 1/2022 on the Application for Approval and on the elements and principles to be found in Controller Binding Corporate Rules (Art. 47 GDPR” (the “Recommendations”).
12/06/2022
European Court of Justice Decision on Public Beneficial Ownership Registers
The means utilized to achieve these aims often interfere with and/or provide exceptions to the enforcement of individuals’ rights to privacy and confidentiality, as are recognized in democracies across the globe.
12/06/2022
IT issues delay Unified Patent Court start to June 2023
The UPC is being set up to provide a dedicated judicial system for litigating new unitary patents.
12/06/2022
Singapore’s platform workers will get more protection in work
Platform workers are generally not classified as employees in Singapore.
12/06/2022
SEC Staff Grants Temporary Relief from Compliance with Rule 15c2-11 for Rule 144A Fixed Income Securities
Participants in the Rule 144A fixed-income security market, who have been grappling with how to ensure compliance with the Rule, now have an additional two years to consider the issue.
12/06/2022
Rulings on Irish directors’ obligations should give directors ‘pause for thought’
Keenan said both cases demonstrated the importance of the obligation on directors to act in good faith in what they believe to be the best interests of the company.
12/06/2022
Court backs cryptocurrency exchange bid to trace alleged fraudsters
The six cryptocurrency exchanges have also been ordered to explain
12/05/2022
Grand Court confirms successor protector following resignation
The brief background was that in July 2020, the protector wrote to the trustee to tender her resignation with immediate effect but failed to appoint her successor.