Contents Please click on the links below to jump to the relevant section: Government attitude and definition Cryptocurrency regulation Digital Asset Business Act Scope of the DABA Licensing requirement Application process Criteria to be met by licensees Continuing obligations of licence holders BMA’s supervision and enforcement powers Digital Asset Issuance Act Scope of DAIA Authorisation requirements Authorisation criteria Ongoing obligations BMA’s supervis
Contents Government attitude and definition Cryptocurrency regulation Sales regulation Taxation Money transmission laws and anti-money laundering requirements Promotion and testing Ownership and licensing requirements Mining Border restrictions and declaration Reporting requirements Estate planning and testamentary succession Government attitude and definition The BVI has established itself as a leading offshore finance centre that is resilient, agile and innovative in the
Contents Government attitude and definition Cryptocurrency regulation Sales regulation Taxation Money transmission laws and anti-money laundering requirements Promotion and testing Ownership and licensing requirements Mining Border restrictions and declaration Reporting requirements Estate planning and testamentary succession Government attitude and definition The Cayman Islands is a leading global financial centre and has developed a reputation as one of the world’s most
Contents Government attitude and definition Cryptocurrency regulation Sales regulation Taxation Money transmission laws and anti-money laundering requirements Promotion and testing Ownership and licensing requirements Mining Border restrictions and declaration Reporting requirements Estate planning and testamentary succession Government attitude and definition The Cayman Islands is a leading global financial centre and has developed a reputation as one of the world’s most
In times of the ongoing crisis, associated with the spread of the novel coronavirus infection (COVID-19), and the introduction of epidemiological requirements and restrictions, many businesses have faced difficulties with contractual performance, including the failure in supply, cancellation of scheduled events and often cutbacks in profits and the impossibility to perform monetary obligations ...
Jersey offers a range of fund types and structures to suit the needs of sophisticated sponsors and investors including Jersey Private Funds, Notification Only Funds (also known as Eligible Investor Funds) and Collective Investment Funds (CIFs), such as Jersey Expert Funds and Jersey Listed Funds ...
What is a JPUT? A Jersey Property Unit Trust (JPUT) is a legal structure whereby legal ownership of assets (primarily non-Jersey real estate) is vested in one or more trustees who hold the assets on trust for the benefit of unitholders upon the terms of a written trust instrument. What are the benefits of a JPUT? JPUTs have many plus points: Familiarity: JPUTs are generally recognised and accepted by investors, lenders, advisers, regulators and tax authorities in the UK and elsewhere ...
Contents Please click on the links below to jump to the relevant section: Overview Guarantees Collateral Security Financial assistance Syndicated Lending/Agency/Trustee/Transfers Withholding, stamp and other taxes; notarial and other costs Judicial enforcement Bankruptcy proceedings Jurisdiction and waiver of Immunity Licensing LIBOR replacement Other matters Overview What are the main trends/significant developments in the lending markets in your jurisdiction? As in o
A guide to structured finance and securitisation in Jersey Carey Olsen is a market leader in structured finance and securitisation in Jersey. Clients of the structured finance and securitisation team include issuers, trustees, companies and global investment banks who we advise on the full range of structured finance and securitisation transactions ...
The LCF Law introduces new licensing regimes for lenders, virtual asset providers and financial platforms and financial intermediaries, replaces the registration regime under the Registration of Non-Regulated Financial Services Businesses (Bailiwick of Guernsey) Law, 2008 (the "NRFSB Law") with a licensing regime, and provides UK-style consumer protections for retail and home borrowers. Licences must be obtained by 1 July 2023 ...
There had been several drafts of the law on Personal Data Protection until the final draft that was submitted by the Indonesian Government to the House of Representatives on 24 January 2020 (“Final Draft Law”). When passed, it will be Indonesia’s first framework legislation to specifically deal with and serve as the ‘umbrella regulation’ on personal data protection ...
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English High Court considers whether there was good consideration for an oral variation of a settlement agreement related to sale of valuable antique textiles. Sometime in the spring of 2014 two Iranian businessmen and antiquities dealers, London based Mr. Shavleyan and LA resident Mr. Simantob, kissed and shook hands on a deal about the payment of the balance of a debt due under a 2010 settlement agreement ...
Many of us are aware of the popular myth that ostriches believe burying their heads in the sand will make them invisible to predators. In other words, an “if I can’t see you, you can’t see me” approach. Even though scientists will tell you that this is not true, the approach seems to bear a resemblance to the online behaviour of some humans ...
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On January 23, 2013, the Federal Financial Institutions Examination Council (FFIEC)1 issued a notice for comment on its proposed guidance, Social Media: Consumer Compliance Risk Management Guidance2 (the “Guidance”) ...
Section 230 of the Communications Decency Act was enacted in 1996 to provide websites with immunity from liability arising from posting third-party content. For a service provider to be immune, however, the information at issue must be provided by another information content provider. This begs the question of whether website operators provide the content on their platforms or act solely as intermediaries for third-party content ...
The stock market is undoubtedly one of the most important economic forces in the world. Every year, billions of dollars are moved through stock exchange operations, and year after year, in most jurisdictions, the stock market is promoted as a tool for financing or capturing capital for issuers and as an investment for thousands of participants seeking to place their funds in higher yield investments ...
Earlier this year, the European Court of Justice ("CJEU") has thrown out an appeal by Nestlé, which argued that it owns the shape of its famous treat KitKat. Nestlé, the world's largest food and beverage company, has spent more than a decade fighting to trademark the four-fingered wafer shape. However, EJC's most recent ruling could bring an end to the snack's protected European status ...
Business owners grudgingly accept lawsuits as a part of doing business. If you’re doing what it takes to advance your business, you will suffer the bumps and bruises that will result in your name on a legal pleading. You may even be the one who files the lawsuit.Almost any money you can recover in a lawsuit is eaten up by lost employee time, and, perhaps more importantly, the business owner’s loss of focus on healthy profits. If you are the one sued, you can never win ...
A new BIG GUARANTEE SCHEME was introduced in Slovakia in a form of (i) guarantees for bank loansand (ii) remissions of guarantee premiums as per new Temporary Framework for State aid recently adopted by the European Commission to support the economy in COVID-19 outbreak and via adoption of an amendment (the “Amendment”) to Act No. 67/2020 Coll ...
The Digital Economy Act 2017 introduces a new electronic communications code, intended to facilitate widespread connectivity and address some of the critical issues that currently beset the telecoms industry. The current electronic communications code was issued in 1984 and it was designed to facilitate the installation and maintenance of fixed line communications networks ...
A new Consumer Credit Act (Sw. Konsumentkreditlagen (2010:1846)) came into effect on 1 January 2011. The Act implements the Consumer Credit Directive (Directive 2008/48/EC of the European Parliament and of the Council of 23 April 2008 on credit agreements for consumers and repealing Council Directive 87/102/EEC). The Directive’s purpose is to enhance consumer protection by addressing some of the indebtedness problems caused by text message loans (Sw ...
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