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British Virgin Islands
Maples Group
Pursuant to section 45(1)(b)(ii) of the Regulatory Code, Licensees are required to submit an annual compliance report to the Financial Services Commission (the "Commission") in the prescribed form.
Cayman Islands
Walkers
The Cayman Islands Monetary Authority ("CIMA") recently issued an updated Regulatory Policy on Consolidated Supervision (the "Policy"). The Policy expands on an earlier version...
Ogier
The Cayman Islands Parliament has approved the Beneficial Ownership Transparency Act (BOT Act), as a restatement and enhancement of Cayman's beneficial ownership regime.
Appleby
In our latest economic substance briefing, Appleby and its affiliate Appleby Global Services remind clients subject to the ES Test of this economic substance filing obligation.
Conyers
On 23 June 2023, the FATF announced that the Cayman Islands had fulfilled the remaining action item and is now eligible for removal from its list of jurisdictions subject to increased monitoring.
Maples Group
Automatic Exchange of Information ("AEOI") encompasses due diligence and regulatory reporting requirements under the Foreign Account Tax Compliance Act ("FATCA") and the Common Reporting Standard...
Cyprus
C.Kounnis & Partners
The Department of Company Registrar announced an extension of the deadline for submitting information to the beneficial owner register.
S. Constantinou & Associates
It is noted that sanctions are of strict liability in nature and as such require absolute compliance.
Patrikios Legal
Law firms face numerous challenges in navigating the intricacies of the latest sanctions imposed. As the consequences of non-compliance increasingly become more severe...
Isle of Man
The Sovereign Group
The Group of International Finance Centre Supervisors (GIFCS) adopted, on 18 January, a further evaluation of the Isle of Man's compliance with its Standard on the Regulation of Trust and Company Service Providers (TCSPs).
Jersey
Ogier
We are used to hearing how a good organisational culture attracts the best talent, enhances employee engagement and retention, increases customer satisfaction and improves reputation.
Ocorian
An Alternative Investment Fund Manager ("AIFM") which markets its funds ("AIFs") in the UK or Europe is required to report information (referred to as ‘transparency information' or ‘Annex IV reporting')...
Luxembourg
ELVINGER HOSS PRUSSEN, société anonyme
On 29 March 2024, the CSSF published Circular 24/856 , which repeals CSSF Circular 02/77 and contains updated guidelines to be followed by the investment fund industry...
Arendt & Medernach
On 29 March 2024, the CSSF published Circular CSSF 24/856 on the investor protection in case of a NAV calculation error, a non-compliance with investment rules and other errors at the level of a UCI Circular.
Malta
Fenech Farrugia Fiott Legal
A recent report published by the Organisation for Economic Co-operation and Development (OECD) has determined that Malta is largely compliant with the standards of transparency...
Finance Malta
This time, we'd like to touch upon an essential topic like the client onboarding process. The topic is very relevant, as there is still a belief that setting up a company or carrying out an audit...
Philippines
SyCip Salazar Hernandez & Gatmaitan
On April 13, 2023, the Securities and Exchange Commission ("SEC") issued Memorandum Circular No. 4, Series of 2023 ("MC 4-23") to adopt the ASEAN Sustainable and Responsible Fund Standards...
United Arab Emirates
BSA Ahmad Bin Hezeem & Associates LLP
The United Arab Emirates (UAE) achieved a significant milestone on February 23, 2024, as it was removed from the Financial Action Task Force's (FATF) "Jurisdictions under Increased Monitoring" list...
European Union
Michael Chambers & Co. LLC
In recent developments, the Cyprus Securities and Exchange Commission (CySEC) has introduced a significant policy statement, PS-01-2023...
Dixcart Group Limited
If you are considering establishing a business in the UK, ensuring the compliance and administrative elements are setup at an early stage is crucial, to allow the business to grow efficiently.
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