Managers of Wealth

Carey Olsen acts in BVI's first major virtual trial since COVID-19 lockdown

It is understood to be the the first fully virtual trial of its kind ever to be held in the BVI.

UK sanctions regime to target human rights abusers

The whistleblower's maltreatment while in custody has been condemned by the European Court of Human Rights.

Stability Key for Asia as Investors Look for Certainty

The Chinese government, for instance, unveiled its latest stimulus package worth at least 4.5% of GDP at the National People’s Congress on 22 May.

CySEC fines Commerzbank for market manipulation

According to the terms and conditions governed the specific products the underlying basket was (theoretically) virtual and therefore no actual investment into the underlying was supposed to take place.

Central Beneficial Ownership Register Introduced for ICAVs and Unit Trusts

The Financial Vehicles Regulations make specific provision for what constitutes a "beneficial owner" of a unit trust and prescribe for a threshold level of ownership.

Covid-19: Protecting Personal Data– The New Normal

At the same time, their smart home devices are capable of recording confidential conversations and their phones are able to track their movements with increasing precision.

Cayman Islands: Update for Single Family Offices Conducting Securities Investment Business

In March 2020 the Ministry discussed, with industry members who requested meetings, the possibility of exempting SFOs with registered offices that are licenced under the Companies Management Law or the Banks and Trust Companies Law from the SFO Regulation

Offshore Business Update - Appleby

The purpose of this report is to help our clients better understand what “business as usual” in our jurisdictions* actually means.

Four Carey Olsen lawyers among Channel Islands Top 35 Under 35

Four lawyers from across Carey Olsen's Guernsey and Jersey offices are featured in the 2020 eprivateclient Channel Islands Top 35 Under 35.

Bedell Cristin lawyers named in Channel Islands top young professionals’ list

She is an Advocate of the Royal Court of Guernsey

Malta's registrar given new powers to check beneficial ownership

The Registrar can now also demand that a company hands over any document or information to confirm the beneficial ownership report it has submitted.

Brexit and financial services: finally it’s the final countdown

Banking and capital markets firms currently face two challenges.

Trustees - finding certainty in uncertain times

Those facing the most uncertainty, and risks of claims, may well be trustees of trusts that hold speculative or high-risk assets including investments in small business start-ups, private equity or venture capital funds, and technology companies

Cayman Islands Voluntary Liquidations 2020

Historically, the timing of the commencement of the voluntary liquidation of a Cayman Islands company was often driven primarily by the desire to avoid incurring the following year's annual government fees.

Ireland and Luxembourg: Extension of Reporting Deadlines for DAC6, FATCA and CRS

Ireland and Luxembourg have both announced a six month deferral of the first reporting date under DAC6, the new EU Mandatory Disclosure Regime for certain cross border transactions which carry defined tax hallmarks.

Huge Wine Frauds Uncovered in Europe

Authorities in Spain and Italy break open two alleged fake wine conspiracies, Barnaby Eales reports.

Trustees beware – Changes to UK insolvency regime are now in force

The Act contains the most far-reaching reforms to UK insolvency law in over 30 years.

Switzerland and United Kingdom seek closer cooperation on financial services

With such an agreement, Switzerland and the United Kingdom intend to reaffirm their commitment to the importance of open financial markets and international financial stability, as well as to consolidate their position as the world's leading internat

Russia Steps Up Hunt To Seize Foreign Assets of ‘Putin’s Banker’

Alfa Group hired to track and seize overseas wealth in the latest development in legal battle between the Kremlin and Sergei Pugachev.

No automatic redemptions in a masterfeeder structure

Update prepared by Simon Dickson (Partner, Cayman Islands) and Jaclyn Pascoe (Knowledge Management, Cayman Islands)

Legal,Regulation,Tax & Compliance