In response to the requirements of the European Union (“EU”), the BVI has recently enacted the Securities and Investment Business (Amendment) Act, 2019 (the “SIBA Amendment”) and the related Private Investment Funds Regulations, 2019 (the “Regulations”) that bring closed-ended funds under regulatory supervision by the BVI Financial Services Commission (“FSC”). The new regulatory regime came into force on 31 December 2019.
Whilst employee incentive plans of varying forms have been utilised in the US, UK and other parts of the world for decades, they have not been widely acknowledged in Asia until recent years. In particular, there has been an increase in businesses, from start-ups, most notably in the FinTech industry, to larger listed entities across a diverse range of industry sectors, in adopting some form of employee incentive plans, as a way to incentivise and retain high calibre employees, encourage loyalty and to attract top quality people to join businesses.
Activist shareholders: removal of directors
Shareholder activism is a growing trend among listed companies. Sometimes, the actions of directors are contrary to the wishes of shareholders or shareholders feel that the incumbents are not performing to the level expected, and a change in board composition is necessary.
Financial Services (Disclosure and Provision of Information) (Jersey) Law 20-
The Government of Jersey is currently consulting on the draft Financial Services (Disclosure and Provision of Information) (Jersey) Law 20- (Draft Law).
Further safeguards for Jersey depositors
The Banking Business (Depositors Compensation) (Amendment No. 2) (Jersey) Regulations 2020 (the Regulations) came into force on Tuesday 28 January 2020. The Banking Business (Depositors Compensation) (Jersey) Regulations 2009 (the DCS Regulations), established the Jersey Bank Depositors Compensation Scheme (the DCS). In the unlikely event of a Jersey bank failure, the DCS will pay compensation to eligible depositors as quickly as possible, with the aim of preventing hardship.
We live in an age of transparency, with openness and accountability increasingly demanded from businesses and governments, not to mention celebrities and anyone else in the public eye. In personal relationships. frankness and candour are rightly encouraged.
It is possible that the Personal Information Protection Act 2016 could finally become fully operative this year, after much delay. In this article we look at the key issues organisations need to be aware of as they start to get ready to implement the requirements of PIPA.
Brexit Day has arrived: What does that mean for Jersey, Guernsey and the Isle of Man?
Brexit Day has arrived, and at 11 o’clock this evening the UK’s EU membership will come to an end. This note explains what will happen tonight and what it means for the business community in the Crown Dependencies.
Innovative new products will drive ILS growth this year, predicts Adderley
This year will see a return to growth for the ILS market, with a range of new products helping clients manage new risks more effectively, according to Brad Adderley, partner at Appleby.
Pensions landscape to shift significantly
Sweeping changes to Bermuda’s pensions regime are underway that could result in private-sector employers and their employees seeing significant alterations to their existing pension arrangements.
Arbitration of employment disputes: what employers and employees need to know
Arbitration is a form of alternative dispute resolution whereby parties forgo their right to sue in court in favour of submitting their claims to an independent arbitrator to reach a binding decision.