The Global - 2025 Q2 Review

Bermuda: With everything growing, all of the ILS world will rise together

It’s been an exceptionally busy and record start to the year for the catastrophe bond sector, and with “everything happening” in the broader insurance-linked securities (ILS) and reinsurance markets, it’s all going to rise together, according to Brad Adderley, Bermuda Managing Partner at Appleby.

Brad Adderley

2025 Blockchain Guide - British Virgin Islands

Appleby has authored the BVI of Chambers and Partners’ “Blockchain 2025” guide. The guide provides the latest legal information on the evolution of the blockchain market, the status and use of digital assets, smart contracts, blockchain regulation, the tax regime for digital assets, sustainability and ESG issues, and data privacy and protection.

Andrew Jowett, Daniel Mitchell, Patrick Gill

Cayman Islands Regulatory Round Up - Spring 2025

The round-up provides a concise yet thorough summary of regulatory developments relevant to financial service providers (FSPs) and other stakeholders in the Cayman Islands. It highlights key legislative changes, publications by the Cayman Islands Monetary Authority (CIMA), updates on financial sanctions, and anticipates upcoming changes through "horizon scanning”. Links to the underlying CIMA publications, as well as related Appleby published briefings and e-alerts are available throughout this document. The information provided is “as of” 28 May 2025.

Simon Raftopoulos, Menelik Miller, Miriam Smyth, Maree Martin

Guide to Funds in Guernsey

Our guide to Guernsey funds provides an overview of the Guernsey investment funds industry, exploring the types of Guernsey funds available such as registered, authorised and regulated, as well as their wider regulation. Appleby’s Guernsey funds guide also takes a closer look at the Guernsey Green Fund, the taxation of Guernsey investment funds and economic substance legislation.

Dylan Latimer, Kate Ovenden, Tristan Ozanne, Jeremy Berchem

The Rise of Panda Bonds: Enhancing International Investments in China's Bond Market from an Offshore Perspective

Panda bonds, initially launched in 2005, saw unprecedented popularity in recent years. This surge is likely driven by factors such as the divergence in the United States (“U.S.”) - China monetary policy and ongoing geopolitical tensions. Panda bonds - renminbi (“RMB”) denominated bonds issued within China's domestic bond market by entities domiciled outside of China - serve as a strategic financing tool. Issuers range from Chinese-owned companies incorporated in offshore financial centers with primary operations in China to international corporations, financial institutions and sovereign entities.

Judy Lee, Kelly Tang

Overview of Lending and Taking Security in the Isle of Man

Appleby has contributed to a guide on Lending and Taking Security in the Isle of Man, which now forms part of the Finance practice area on Practical Law Global, a key online know-how resource for lawyers and in-house counsel engaging in cross-border work.

Tom Brook, Sophie Corkish

Multiple Pre-empted Listings Facility on The International Stock Exchange (TISE)

Find out more about the use of the Multiple Pre-empted Listings Facility.

Christophe Kalinauckas, Andrew Weaver

Insider Dealing: A Review of the Treatment in Mauritius, EU and US Federal law

A review of the treatment in Mauritius, the United States and the European Union of the offence of insider trading confirms the contrasting approaches which these jurisdictions have adopted on the issue even though all three jurisdictions share two fundamental concerns namely, (i) the prohibition on an insider to take an unfair advantage by reason of information which he has obtained to the detriment of third parties who are unaware of such information and, (ii) the protection of the integrity of financial markets and investor confidence ¹.

Sharmilla Bhima