11/03/2020
UK post-Brexit reform: Financial Services Bill introduced
The FS Bill proposes certain measures, a number of which are aimed at avoiding functional issues with rules introduced during the UK’s membership of the EU
Legal,Regulation,Tax & Compliance
11/02/2020
Lombard Bank fined €340,000 by FIAU over money laundering shortcomings
FIAU finds low level of risk assessment and enhanced due diligence for PEP and voluminous transactions at Lombard Bank
11/01/2020
Irish Finance Bill 2020-Key Developments for Irish and International Business
The Irish Finance Bill 2020 has now been published and contains the legislation to implement the Irish Budget measures of 13 October 2020 and also certain new measures.
11/01/2020
Crypto Crime Enforcement Trends: The US Department of Justice steps up
The Framework examines the DOJ’s role in prosecuting related misconduct, including applicable federal statutes, key partnerships, and enforcement challenges.
10/30/2020
ECB looking increasingly maxed out when it comes to “traditional” monetary policy
The ECB is looking increasingly maxed out when it comes to “traditional” monetary policy.
10/30/2020
Swiss National Bank and BIS announce digital currency trial by 2020 end
The trial will also allow the banks to see how the technology syncs with existing payment systems, as well as providing more effective routes to monitoring compliance.
10/30/2020
Brexit: VAT and the end of the transitional period
This has significant VAT implications for UK suppliers involved in international supply chains.
10/30/2020
Brexit: Immigration update for EU nationals
In order to safeguard the rights of EU citizens after Brexit, the UK government introduced the EUSS.
10/30/2020
FBI investigating Hunter Biden over money-laundering allegations
During a hastily scheduled press conference before the presidential debate, Bobulinski showed reporters three phones that spanned 2015 to 2018, saying they were evidence that he would provide the FBI.
10/30/2020
Cayman Islands Beneficial Ownership and Enforcement of Fines
Guidance, effective from October 2020, has now been released in the form of a Beneficial Ownership Enforcement Manual
10/30/2020
Ogier advises on $1.1 million note issuance and Luxembourg Stock Exchange listing
The Ogier team led by partner Bertrand Géradin and senior associate Sarah Verlende acted as Luxembourg legal adviser alongside Latham & Watkins LLP.
10/30/2020
French succession planning
The applicable governing law applies only for succession purposes and does not affect how an estate is taxed
10/29/2020
St Kitts and Nevis' Citizenship by Investment Programme Offers Wealthy Americans a Plan B
Americans are looking for a safe and secure route to alternative citizenship offering a Plan B in the face of unpredictability.
10/29/2020
Finma grants Gazprombank Switzerland crypto licence
These will include storage solutions and the purchase and sale of Bitcoin.
10/29/2020
UK Regulators Fine Goldman Sachs International $126 Million for 1MDB ‘Failures’
The Financial Conduct Authority and the Prudential Regulation Authority said the firm allowed severe misconduct to go unaddressed.
10/28/2020
Mishcon de Reya files claim against public nature of EU beneficial ownership registers
The LBR rejected this request and so the claim was filed with the district court in Luxembourg with assistance from Luther S.A., a law firm based in the region.
10/28/2020
Company ownership secrecy prevails in Southeast Asia, UN report says
The United Nations Office on Drugs and Crime recommends strengthening reporting of beneficial ownership information across the region to stop dirty money flows.
10/28/2020
Vessel Registration in the Cayman Islands
This briefing note summarises the registration process and sets out some of the key reasons for registering vessels in the Cayman Islands.
10/28/2020
Withholding tax exemption on banks' too-big-to-fail instruments to be extended for another five years
TBTF instruments are an important tool used by banks to meet regulatory capital requirements. Therefore, Parliament has already exempted the interest on TBTF instruments
10/28/2020
Brexit: permanent residents must apply to EUSS by 30 June 2021
From 31 December 2020 all EEA and Swiss citizens and their family members will be subject to immigration control and may be asked to prove their status.