Bermuda: Trusts in an Employment Context
When one thinks of trusts, one tends to think of the private family trusts which enable wealthy families to manage the transfer of their assets efficiently down the generations. Yet in fact some of the largest trusts in the world are found in the employment context and many ordinary workers will be beneficiaries of colossal trusts. For example, the Universities Superannuation Scheme in the UK had around £75 billion of assets under management as at 31st March 2023 – more than the GDP of some countries.
Bermuda: Securing Regulatory Compliance
Regulatory compliance continues to be an area of significant development in Bermuda. While anti-money laundering (AML), anti-terrorist financing (ATF) and global financial sanctions have been in focus for some time, the regulatory compliance landscape has grown in recent years due to the implementation of economic substance requirements, the introduction of the Global Minimum Tax and the impending full implementation of Personal Information and Protection Act (PIPA).
Embracing the Future: Seychelles Introduces the Virtual Asset Service Providers Bill, 2024
In an age where digital assets are becoming increasingly integral to global finance, Seychelles is taking a pioneering step to ensure a secure and thriving virtual asset market. The Virtual Asset Service Providers Bill, 2024 (Bill No. 12 of 2024) (the VASP Bill), which is due to come into force and implemented imminently, sets a robust legislative framework designed to regulate virtual asset service providers (VASPs) and mitigate potential financial crimes such as money laundering and terrorist financing.
Our Environment Our Responsibility
The judgment of the Judicial Committee of the Privy Council (JCPC) in the matter of Eco-Sud and two others (Respondents) v Minister of Environment, Solid Waste and Climate Change and another (Appellants) (Mauritius) is a significant boost for the environment in Mauritius and a wake up call for all those involved in real estate development, the licensing authorities, regulatory and/or adjudicating bodies on matters which affects the environment on our small island.
Bermuda – Women in Hamilton: Cathryn Minors
Appleby Counsel Cathryn Minors knew she wanted to be a lawyer from the age of 13 and that self-belief has seen her work in Bermuda, the UK and Hong Kong as well as in private practice and as in-house counsel for a Bermuda-based re/insurer.
Bermuda – Women in Hamilton: Josephine Noddings
Appleby Counsel Josephine Noddings says Bermuda gives access to the some of the best minds in the reinsurance sector, which offers lawyers a varied and fast-paced workload.
The Global – your offshore corporate law questions answered: July 2024
The Global is a quarterly collection of corporate expert insights and analysis across Appleby's global jurisdictions. Here are follow-up FAQs from the insights we shared in the 2024 Q1 Review edition.
Balancing innovation and stability: Bermuda Monetary Authority’s stance on affiliate investments
A new approval process for affiliate investments forms a key part of the Bermuda Monetary Authority’s enhanced regulatory regime for long-term insurers and reinsurers.
Updates to the Jersey Private Fund Guide
With effect from 2 July 2004 the Jersey Financial Services Commission (JFSC) has implemented a number of amendments to the Jersey Private Fund (JPF) regime, which seek to improve and enhance the JPF regime and keep pace with developments in the market for private funds.
Bermuda: Good Chance Cat Bond Issuance Hits $20bn in 2024
Significant catastrophe bond issuance at the halfway point of 2024 means it’s already the third highest year in the market’s history, and there’s a good chance it will hit the $20 billion mark by yearend, according to Brad Adderley, Bermuda Managing Partner at global law firm, Appleby.
Bermuda: Crypto Assets in Trusts and Foundations
Published in association with STEP, Crypto Assets in Trusts and Foundations features an in-depth examination of 20 important trust and foundation jurisdictions, shedding light on their respective regulations concerning the holding of crypto assets in wealth management structures.
The Isle of Man Financial Services Authority (IOMFSA) has recently held three consultations relating to the regulation of Virtual Asset Services Providers (VASPs) in the jurisdiction. Here, we take a closer look a the background to VASPs regulation in the Isle of Man and what the future may hold.
