Banking & Financial Services Lawyers

Contested Points of Foreign Law in the Winding-Up Context: Grand Court Provides Guidance

In China Export & Credit Insurance Corp v Hyalroute Communication Group Ltd, Asif J provided guidance on how a creditor’s winding up petition will be treated where the asserted dispute turns on complex issues of foreign law – here, in the context of PRC insurance law. This article considers the decision and the lessons that can be drawn from it.

Harriet Ter-Berg, Will Porter, William Spence

National Budget Highlights - Making Mauritius future ready

THE MAURITIAN NATIONAL BUDGET 2026/2027 - “FUTURE READY ECONOMY” On 12 June 2026, Dr Navinchandra Ramgoolam GCSK, FRCP, Prime Minister of Mauritius, in his capacity as Minister of Finance (Minister of Finance) tabled the National Budget for the fiscal year 2026-2027 under the theme “Future Ready Economy”. The National Budget builds on six strategic pillars namely, AI & Digitisation, SMEs & Start-Ups, Economic Modernisation, Sector Re-engineering, Blue Economy and Investment Growth.

Sharmilla Bhima, Dylan Mannikum

CIMA Enforcement Action in Focus: Reminders and Recommendations

The Cayman Islands Monetary Authority (CIMA) has recently published a number of Enforcement Notices that provide helpful context for regulated entities, including Licensees and Registered Persons under the Securities Investment Business Act (Revised) (SIBA), seeking to understand and meet their ongoing regulatory obligations in the Cayman Islands. In early June 2026, CIMA exercised its enforcement powers under SIBA Section 17 to cancel the registrations of several SIBA Registered Persons on the basis that it had reasonable grounds to believe that such Registered Persons had failed to meet certain key regulatory obligations. The Appleby Team takes this opportunity to review the relevant findings and CIMA enforcement action; and to highlight certain key obligations that attach to regulated entities in the Cayman Islands.

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Simon Raftopoulos, Martin Byers, Maree Martin, Menelik Miller, Miriam Smyth

Important Cayman Islands Industry Advisory: Common Reporting Standard 2.0 and Economic Substance Updates

Further to the introduction of the Tax Information Authority (International Tax Compliance) (Common Reporting Standard) (Amendment) Regulations, 2025 (the CRS Amendment Regulations or CRS 2.0), the Cayman Islands Department for International Tax Cooperation (DITC) has issued an Industry Advisory flagging certain key updates in respect of Common Reporting Standard (CRS) and Economic Substance (ES) reporting in the Cayman Islands. Cayman Financial Institutions will be required file 2025 CRS Returns and Declarations by 31 July 2026, ahead of the online DITC Portal’s closure to facilitate its transition to XML Schema v3.0. ES courtesy reminders (which have historically been sent by email to designated Responsible Persons in advance of annual ES reporting deadlines) will no longer be issued such that Relevant Entities will need to independently track such deadlines themselves. Updated Individual and Entity CRS Self-Certification forms, aligned with CRS 2.0, are now available online via the DITC website.

Martin Byers, Maree Martin, Miriam Smyth, Menelik Miller

2026 Guide to Blockchain & Crypto-Assets in the Cayman Islands

This updated 2026 guide covers the regulatory regime in the Cayman Islands applicable to virtual assets, tokenised funds and securities. We also cover evolving regulation and practices across blockchain technology, smart contracts, DeFi, stablecoins, tokenisation of real world assets, as well as share our outlook for future developments in the sector.

Peter Colegate, Marsha Williamson, Dean Bennett