Applications expected under the Investment Business Act
Persons who must comply with the requirements of the amended Investment Business Act 2003 should consider progressing their application and related supporting materials sooner rather than later.
The Edinburgh Reforms: An Offshore Perspective
On 9 December 2022, the UK Chancellor of the Exchequer announced a package of reforms to the UK financial services sector, known as the “Edinburgh Reforms”.
Artemis Q4 2022 Catastrophe Bond and ILS Market Report
Fresh capital will enter the insurance linked securities (ILS) market, but while catastrophe bond deals successfully closed for year-end, others failed to complete, suggesting there’s no rush to enter the space, according to Brad Adderley, Bermuda Managing Partner.
Non-Fungible Tokens: Guidance notes issued in Mauritius
The Financial Services Commission (FSC) continues to propel its Fintech sector with a view to strengthen its regulatory framework to enable safe and secure virtual asset transaction and in this pursuit, the FSC took a further step by clarifying its regulatory stance with respect to Non-Fungible Tokens (NFTs).
Bermuda Insolvency and Restructuring Law Update
Bermuda’s insolvency and restructuring landscape is distinct in a number of ways. In this article, we discuss three of those areas with recent developments:
Insurers need well drafted commercial contracts to use artificial intelligence
It is impossible to overestimate the dependence of Bermuda’s successful insurance sector on information technology. The more advanced and intelligent that technology is, the better that sector will be managed and operated, in all respects.
Americas Restructuring Review 2023
This article discusses the defining features of Bermuda’s insolvency landscape and the primary insolvency and rescue procedures available under Bermuda law, including compulsory liquidations and schemes of arrangements. The restructuring of Noble Group Limited is presented as a case study, to illustrate the use of provisional liquidation to facilitate a restructuring via a scheme of arrangement. The chapter also reviews the role of the Bermuda court in cross-border insolvencies and the creditor-friendly nature of the insolvency regime in Bermuda.
Business Crime and Investigations in Bermuda: Overview
A Q&A guide to business crime and investigations in Bermuda.
Information Technology, Outsourcing, Privacy & Data Protection
All aspects of Bermuda's economy rely on information technology and data processing - an essential infrastructure and related services which must be procured, implemented, operated and securely managed.
A Look Back on 2022 and What to Expect for 2023
As we approach the end of 2022, we are able to look back and say with certainty that the arena of labour relations law has not been as lively as it was in 2021, when there were changes to the Employment Act 2000 and the tribunal system. Following a tweet at the beginning of the year from the Minister of Labour, it was anticipated that there may be some legislative developments to “expand the rights of workers in Bermuda throughout 2022”. This could have been both significant and controversial, however the rumblings of change stopped there and 2022 was not the hive of activity that it might otherwise have been.
Weathering the Latest Storm in the Crypto Winter
The US bankruptcy filings in respect of FTX have resulted in the assets of one of the largest crypto exchanges by volume, with possibly over one million users, being frozen.
Appleby Mauritius Newsletter, Nov 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.
