Insights

Amendments to Cayman AML Regulations

Amendments to Cayman Anti-Money Laundering Regulations (“AMLR’S”) and Anti Money Laundering (“AML”) / Countering of Terrorist Financing (“CFT”) Guidance notes following evaluations made by the Caribbean Financial Action Task Force (“CFATF”). In February 2020, changes and updates to the AML regulations and AML/CFT guidance notes were announced following recommendations from the CFATF. What are the

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Cayman Private Fund Regime

The Cayman Islands recently introduced new legislation, the Private Funds Law, 2020 (the “Law”) that is now in force having commenced on 7th February 2020. This signifies a step forward by the Cayman Islands to promote itself as a well-established jurisdiction in the private fund administration sector. The contents of the Law are similar to

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Swiss Trusts for U.S. Client Asset Protection and Diversification

While Swiss law does not provide for trusts governed by domestic law, Switzerland recognizes trusts governed by the laws of other jurisdictions. For example, a Swiss trustee may serve as trustee of a trust governed by the law of Belize or the Cayman Islands, jurisdictions popular for asset protection planning due to their flexible and

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Dominion’s Top Tips for holding Virtual Board Meetings

What is a virtual board meeting? Virtual board meetings are meetings held by video or telephone where is it not possible for all participants, primarily, all directors, to be together physically. In today’s climate, there are many things that might be challenging your company but holding an effective board meeting shouldn’t be one of them.

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Covid 19: The latest from the GCC

Following the announcement on March 30th from the Dubai Expo 2020 steering committee regarding the possibility of the event being delayed for a year due to the Covid-19 pandemic, it would seem that the much-awaited Expo is set to become the latest in a long line of global entertainment, business and sporting events, including Euro

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International Financial Centres

The dawn of Public Registries of Company ownership is upon us and is spreading around the globe. However, the approach to its adoption is not consistent and this doesn’t serve the global financial community well.

Jersey confirmed by the EU as a cooperative jurisdiction

The Council of the European Union (Council) at its meeting on 5th December 2017 adopted its own conclusions on the EU list of non-cooperative jurisdictions for tax purposes. The list of those jurisdictions can be found in Annex I to the document entitled “Outcome of Proceedings” produced by the Council and its full version can be found here.

Retiring as Trustee? Is it really that simple?

For any Trustees of Group company schemes wanting to retire as Trustees they should be aware of the recent ruling in the Jersey Royal Court regarding a Jersey based trust (the “Trust”) and the Trustee’s desire to retire as Trustee.

Legal Fees – Should the Trustees always negotiate?

In the recent case of In the Matter of the F Charitable Trust [2017] JRC 142 the Jersey Royal Court (Court) provided guidance to the trustees as to what it expected from them when they plan to engage in litigation on behalf of the trust and what will the Court consider in order to bless such a trustee decision.

Jersey for Institutional Investing: A clear choice

Jersey Finance, which is a body that represents and promotes Jersey internationally, commissioned an independent report to illustrate Jersey’s important role in the effective management of pension funds and other institutional assets.