Insights from the BMA’s Second Consultation Paper on Digital Identity Service Providers
As jurisdictions around the world grapple with the complexities of authenticating digital identities and the provision of digital identity services, the Bermuda Monetary Authority (BMA) is taking a consultative and forward-looking approach. This approach will help ensure Bermuda’s proposed regulatory framework is fit for purpose.
Insider Dealing: A Review of the Treatment in Mauritius, EU and US Federal law
A review of the treatment in Mauritius, the United States and the European Union of the offence of insider trading confirms the contrasting approaches which these jurisdictions have adopted on the issue even though all three jurisdictions share two fundamental concerns namely, (i) the prohibition on an insider to take an unfair advantage by reason of information which he has obtained to the detriment of third parties who are unaware of such information and, (ii) the protection of the integrity of financial markets and investor confidence ¹.
Navigating Cayman Islands Investment Funds: 10 Key FAQs for Emerging Managers
Cayman Islands investment fund lawyers advise global clients around the world with respect to the formation, operation, and wind-down of Cayman Islands investment funds. In doing so, we regularly counsel managers on structuring new funds and their ongoing operations. The Cayman Islands remains the premier jurisdiction for establishing offshore investment funds, offering flexible structuring options, tax neutrality, and a sophisticated legal framework grounded in English common law. This article addresses ten frequently asked questions (FAQs) emerging managers commonly pose when dealing with Cayman Islands investment funds. These FAQs provide practical guidance on topics ranging from registration to fund liquidation and compliance with ongoing requirements of the Cayman Islands Monetary Authority (CIMA).
Contracts to Manage AI Risk: Part Two (Bermuda)
In part one of this two-part series about artificial intelligence contracts, I discussed the ways that contracts can mitigate, if not avoid, many of the risks associated with the development and use of transformative technology like AI.
Contracts to Manage AI Risk (Bermuda)
This is the first of a two-part article on how artificial intelligence contracts can be used to manage the development and use risks associated with such transformative technology.
Captives are the grass roots of Bermuda risk
Bermuda has seen tremendous growth in the life reinsurance and insurance-linked securities markets in recent years.
Jersey to increase compensation in employment cases
The States of Jersey have voted to overhaul the current compensatory regime for employment cases and strengthen employees’ rights in Jersey.
Insolvency law: secured creditors take note (Bermuda)
The recent judgment delivered by the Supreme Court of Bermuda in the matter of Harold J. Darrell highlights the possible implications for secured creditors who fail to accurately disclose their security interests in insolvency proceedings.
Bermuda: Education has helped investors get more comfortable as ILS continues to grow
It’s been an exceptionally busy and record first half of the year for the catastrophe bond sector, with a number of first-time sponsors entering the market. This momentum, according to Brad Adderley, Bermuda Managing Partner at Appleby, reflects how education has “helped” investors get more comfortable, ultimately enabling the insurance-linked securities (ILS) sector to continue its growth trajectory.
Crypto Funds in the Cayman Islands
As one of the leading offshore financial centres, home to approximately 70% of the world’s offshore investment funds and with an absence of any direct taxation on companies or individuals, the Cayman Islands has become an attractive destination for technology entrepreneurs. The introduction of framework legislation regulating virtual asset service providers (the VASP Act) in 2020 attracted a number of new entrants to the Cayman market.
