Bermuda responding to needs of fintech industry
Bermuda’s emergence as the offshore jurisdiction of choice for fintech companies seeking to operate in a regulated space was underlined last week as the island hosted Tech Week, three separate conferences focused on the Bermuda innovation and technology sector.
Show Me the Money: Identification and Preservation of Assets in the Cayman Islands
The Cayman Islands has long had a developed arbitration framework providing for the recognition and enforcement of international arbitration awards. As the Cayman Islands is also a jurisdiction in which many organisations hold substantial assets, this can prove a valuable route for enforcement.
The Cayman Islands’ International Tax Co-operation (Economic Substance) Law, 2018 (ES Law) and The International Tax Co-Operation (Economic Substance) (Prescribed Dates) Regulations, 2018 (ES Regulations) came into force on 1 January 2019. The regime became applicable immediately to new relevant entities incorporated or registered after that date. For existing relevant entities, there was a six-month transition period which ended on 1 July 2019.
Purpose-built ISAC a boon for Bermuda
The long-awaited Incorporated Segregated Accounts Companies Act 2019 was tabled in the House of Assembly on September 27.
Transparency and the Crown Dependencies
Transparency of beneficial ownership information has been a political issue since June 2013 when British Prime Minister David Cameron first demanded that Britain's Crown Dependencies and Overseas Territories introduce open registries. The Fourth European Money Laundering Directive (4AMLD) stopped short of requiring public central registers. However, the Fifth European Money Laundering Directive (5AMLD) requires the implementation of public central registers and for those registers to be linked at an EU level through a central European platform. Political pressure has remained upon the Crown Dependencies to follow suit - so what is the position?
Maternity/Paternity Leave – Anticipated Amendments to the Employment Act
The Employment (Maternity Leave Extension and Paternity Leave) Amendment Act 2019 (Bill) (2019 Amendment) has been tabled in Parliament and, once passed and brought into force, the amended Employment Act 2000 (Employment Act) will contain improved minimum benefits for maternity and paternity leave.
Introduction of the new Collateralised Insurer class
Members of the ILS Bermuda Market Intelligence workstream hosted a roundtable to discuss the Bermuda Monetary Authority's introduction of the new Collateralised Insurer class.
Fund bye-laws and payments-in-kind
Typically, a Bermuda fund is incorporated as an exempted mutual fund, formed as an exempted limited partnership or established as a unit trust. The focus of this article is upon the firs of the trio
How fund managers should prepare for the Cayman Islands Data Protection Law
The Cayman Islands Data Protection Law, 2017 (DPL) comes into force on 30 September 2019 and will regulate the future processing of all personal data in the Cayman Islands.
When will foreign court - appointed receivers be recognized?
When will foreign court - appointed receivers be recognized?
