APPLEBY MAURITIUS NEWSLETTER, JULY 2022
There have been interesting developments in our legal landscape since our last issue with the Government’s continued endeavours to further enhance our international financial centre as one of excellence.
Digital Banking - Being future ready
One of the positive aspects of digitalisation is the opportunity which it has offered for financial inclusion.
This article reviews the approach which the Mauritian Supreme Court adopts on the concept of “Concurrence Déloyale” in the employment sector.
The Supreme Court had to address a preliminary objection raised by co-respondents Nos. 1, 2 and 3 on the ground of jurisdiction to contest and challenge the court’s competence to determine the issues and claims set out in the application.
FSC Rules issued under the Virtual Asset and Initial Token Offerings Services Act 2021 (VAITOS)
On 15 July 2022, the Financial Services Commission (FSC) issued the following rules under the VAITOS.
Recent Case Clarifies Employer’s Responsibility For Severance Allowance
This article discusses the recent case of C12 Aviation Bermuda Limited v Dr. M. Bradshaw et al [2022] SC (Bda) 26 Civ, in which the Supreme Court considered a novel question as to whether an employer is responsible for paying severance allowance to employees it makes redundant in circumstances where those employees commence employment with a new employer immediately after termination.
Novel Cat Bonds on the Horizon
On the back of a robust opening quarter, catastrophe bond issuance remained strong in the second-quarter of 2022, and with interest from new sponsors with novel transactions, growth could be on the horizon, according to Brad Adderley.
Members of Bermuda’s captive industry talk to Rebecca Delaney about the island’s promising captive market bolstered by, among other factors, emerging structures and economic substance requirements
An LLC may be the right entity for you
Every day, we see clients choosing to incorporate a company limited by shares, often just referred to as a company.
Digital Identification in Jersey
There have been considerable changes made to the way we do business in recent times. These changes were arguably inevitable but were accelerated as a result of lockdowns and forced home working, challenging the finance industry to consider innovative ways to continue to offer their services. The way in which onboarding of clients and customer due diligence, in particular, is undertaken has shifted. Along with “wet ink” signatures, original identification documents or “wet ink” certified copies of identification and verification documents are less frequently requested. Face to face verification and manual paper-based checks can be costly, are inconvenient to clients and sometimes, not possible. Digital methods are ultimately becoming the default choice for the identification and verification of individuals.
