Jersey investment funds update Q1 2024 Jersey Financial Services Commission updates and news Supervisory Risk Data Collection The Jersey Financial Services Commission ("JFSC") launched its annual Supervisory Risk Data Collection ("SRDC") exercise on 5 February, the results of which are used by the JFSC to inform its approach for risk-based supervision and its financial crime examination process and, in aggregated form, to refresh its risk model and national risk assessments ...
Bermuda investment funds update Q1 2024 Bermuda Monetary Authority Investment Fund Statistics (Q3 2023) Recent amendments to the funds regime highlight Bermuda’s commitment to a comprehensive and innovative approach to the underlying legislative framework applicable to funds and Bermuda’s status as a premier international financial centre ...
Cayman Islands investment funds update Q1 2024 Removal from Financial Action Task Force Grey List and EU's High-Risk Third Countries List The Financial Action Task Force ("FATF") leads global action to tackle money laundering, terrorist and proliferation financing, setting international standards to ensure national authorities can effectively clamp down on illicit funds linked to drugs trafficking, the illicit arms trade, cyber fraud and other serious crimes ...
British Virgin Islands investment funds update Q1 2024 BVI Financial Services Commission statistics – Q3 2023 The BVI Financial Services Commission ("FSC") has published its Statistical Bulletin for the third quarter of 2023. The FSC’s Statistical Bulletin is one mechanism by which the FSC communicates the progress made within several different sectors of the Financial Services industry, including Investment Business ...
As has been widely reported, Companies House has recently suffered a disruptive attack by an individual who made over 800 incorrect filings stating that charges created by around 190 different companies had been discharged. These filings were made without the knowledge of the companies concerned or the lenders who held the charges ...
Heather Venture Holdings Ltd and Tapir Holdings Ltd list on Bermuda Stock Exchange The Companies are entities incorporated in the British Virgin Islands and have received the BSX's approval for the listing of 44,502,264 ordinary shares respectively ("Listing Shares"). The Listings have been made as part of a wider transaction, which involved the declaration of a dividend in specie by Impellam Group plc, with such dividend in specie being the Listing Shares ...
“Public service is a noble calling” that requires great sacrifice, often requiring public officials to surrender personal conveniences in favor of public business ...
Those who have been following it will know that the Bank of England / Prudential Regulation Authority’s consultation on proposed new rules for Critical Third Party suppliers (CTPs) closed on 15th March ...
On 14 March 2024, the National Development and Reform Commission("NDRC") of the People's Republic of China ("PRC") issued theCircular on Supporting Quality Enterprises to Borrow Medium-and Long-term Foreign Debts to Promote Quality Development of the Real Economy (Draft for Comments)(the "Draft Circular")(《国家发展改革委关于支持优质企业借用中长期外债 促进实体经济高质量发展的通知（征求意见稿）》) to solicit public opinion from 14 March 2024 to 13 April 2024 ...
Dear Ladies and Gentlemen, We would like to share with you an updated digest of the most significant laws and bills and regulatory innovations in the Technology, Media & Telecommunications sector for the period from June 2023 to February 2024, as well as trends in the future regulation of this industry. The TMT industry is currently experiencing significant regulatory pressure with changes constantly being made for both its service providers and the customers who use their products ...
In recent months, a number of agencies, including the Federal Bureau of Investigation (“FBI”), have been working diligently to identify businesses and individuals who committed alleged fraud through the Paycheck Protection Program (“PPP”). The PPP was a key component of the CARES Act, which approved $2.2 trillion in economic relief in response to the COVID-19 pandemic. The PPP aimed to help businesses navigate the pandemic by providing financial assistance to employers ...
Recently, Dinsmore attorneys attended the Federal Trade Commission’s eighth annual PrivacyCon: a conference for regulators, researchers, industry representatives, consumer advocates and other stakeholders to gather and discuss trends in consumer privacy and data security. The Federal Trade Commission (FTC) is the federal independent agency charged with regulating and enforcing anticompetitive, deceptive and unfair business practices ...
On February 15, 2024, the United States Copyright Office published a notice of proposed rulemaking, proposing to create a new group registration option for published two-dimensional artwork. Currently, the Copyright Office permits group registration of up to ten unpublished two-dimensional artworks, and it also permits the registration of individual published two-dimensional artworks ...
Maximising benefits: The importance of efficiently leveraging W&I Insurance to structure M&A deals Warranty and Indemnity (“W&I”) insurance is a risk management tool that transfers the liability of the seller to the insurer. W&I insurance typically covers the breach of warranties and indemnities provided by a seller/warrantor and the occurrence of events that were unknown or undisclosed to a buyer ...
Carey Olsen and Oakbridge advise Sullivan Street Partners on Wave Group investment Carey Olsen provided regulatory, structuring and legal advice in establishing Sullivan Street's investment vehicle, Wave Jersey LP, with Oakbridge facilitating the set up and ongoing fund administration services. The Carey Olsen team advising Sullivan Street Partners comprised corporate partner Chris Griffin and associate Marco Carossa ...
Carey Olsen Bermuda celebrates International Women's Day 2024 The panel was moderated by Carey Olsen senior associate Laura Kearns and featured SVP senior legal counsel at Butterfield Bank, Kim Simmons; the Honourable Mrs Justice Shade Subair Williams; group head of trust services at Lombard Odier Group, Charmaine Tucker; and Carey Olsen senior counsel Claire van Overdijk KC ...
Expanding its ability to detect and pursue security incidents, the Federal Trade Commission (FTC) finalized an amendment to the Safeguards Rule[1] on October 27, 2023 requiring non-banking financial institutions to report certain data breaches. By extending this data privacy protection to customers of all financial institutions, this amendment demands fintech firms across the country revisit their cybersecurity and incident-response policies. I ...
Following chancellor Jeremy Hunt’s Spring Budget speech made on 6 March 2024, legal experts at law firm Shoosmiths share their views on the announcements ...
Carey Olsen advises XBTO Global on acquisition of Stablehouse and XBTO International Stablehouse is a digital asset custody and trading platform that helps institutions mitigate risk with security, insolvency remote protection and regulatory compliance, and its combined acquisition together with XBTO International by XBTO Global allows the group to provide integrated and comprehensive digital asset services through a single platform ...
Carey Olsen advises certain sellers in GFL Environmental's secondary offering The selling shareholders, which included BC Partners, GIC, Ontario Teachers' Pension Plan Board, Poole Private Capital, LLC, and entities affiliated with HPS Investment Partners, LLC, collectively agreed to sell 21,000,000 subordinate voting shares at the public offering price of US$34.45 per share in a fully underwritten secondary transaction. RBC Capital Markets, LLC and RBC Dominion Securities Inc ...
Russian State Labour Inspectorate (GIT): An employer may impose disciplinary sanction on an employee for disclosing a colleague's salary GIT received a question whether an employer can punish an employee who, ****without the consent**** of a colleague, ****disclosed their salary**** ...
