Police certificates become part of BMA vetting
Businesses seeking regulatory approval for directors, owners and senior personnel now need to account for an additional documentary requirement.
BVI Court of Appeal Clarifies Derivative Actions, Director Indemnities and Shadow Director Status
In Zvi Dekel v Clerkenwell Lifestyle Limited, the BVI Court of Appeal affirmed the refusal of leave to pursue derivative proceedings, confirming that the proposed claims lacked a realistic prospect of success and clarifying that shadow directors do not fall within the definition of "director" under the BVI Business Companies Act.
Podcast: AML Requirements for DABA Applications
In this episode of #TechTalks, the spotlight turns to one of the most important aspects of any Digital Asset Business Act (DABA) licence application: anti-money laundering compliance. George McCallum and Karim Creary, lawyers in Appleby’s #Bermuda Technology practice who specialise in advising on DABA licensing matters, are joined by Jarion Richardson, Appleby’s Regulatory, Governance & Compliance Advisory Lead and a highly experienced AML specialist, to offer an insightful look at Bermuda’s AML framework and the regulatory expectations facing prospective applicants.
Commingling of Risks: The New Flavour of the Cat Bond Market
As catastrophe bond sponsors grow more confident with the asset class, companies are increasingly combining different peril structures within individual transactions, all of which leads Brad Adderley, Managing Partner at law firm Appleby, to say that this commingling of risks is becoming the new flavour of the cat bond market.
When is a Party “Otherwise Unable to Present Its Case” Under the New York Convention?
Article V(1)(b) of the New York Convention permits a court to refuse recognition and enforcement of an arbitral award where the party against whom the award is invoked: “was not given proper notice of the appointment of the arbitrator or of the arbitration proceedings or was otherwise unable to present his case.” The provision is central to the legitimacy of international arbitration. It ensures that arbitral proceedings comply with minimum standards of procedural fairness, while recognising that arbitration is intended to be more flexible and less formal than litigation.
Is it time to accept that Guernsey’s regulatory enforcement process is no longer “fit and proper”?
Appleby Guernsey Managing Partner Richard Sheldon explores pitfalls in Guernsey's regulatory enforcement process.
Marital blessings: what's yours is ours—Chinese marital property and offshore trusts
Richard Grasby, Partner in Appleby's Private Client & Trusts team in Hong Kong, has published an article “Marital blessings: what's yours is ours—Chinese marital property and offshore trusts” in Trusts & Trustees, Oxford University Press's leading journal on trust law and practice.
BMA Sets Out Phased Path to a Bermuda Insurance Resolution Regime
The Bermuda Monetary Authority (BMA) has proposed a framework for resolving failing (re)insurers. Boards and executive teams should take note and, where appropriate, take part in the consultation, which closes on 15 December 2026.
Jersey’s High Value Residency Regime Enters a New Era
A revised Control of Housing and Work ("CHW") regime marks the most significant reform of the Island's High Value Residency framework in many years. Find out more
Navigating BMA’s proposed AI guidance note
Now that the Bermuda Monetary Authority has shifted its focus from general principles about artificial intelligence to a concrete, actionable regulatory framework, board and executive teams of financial service companies must take note and decide whether to become involved in the consultative process.
AI in the Workplace: Emerging Legal Issues for Bermuda Employers
Artificial intelligence is rapidly becoming part of the modern workplace. It has moved quickly from being an experimental technology to an everyday business tool. Employers are already using AI to draft job advertisements, screen applications, assess candidates, analyse employee performance, monitor productivity and assist with disciplinary and termination decisions. For employers, the attraction is obvious. AI can process large quantities of information quickly, identify patterns and perform tasks that previously required significant human resources. But such widespread application of AI is also giving rise to legal risk as regulators and courts around the world consider what happens when an employment decision is made, or materially influenced, by an algorithm. It is a question that is likely to become increasingly relevant in Bermuda, as the law necessarily catches up with the technology.
Capital rich, softening rates, big opportunity: the growth dilemma
After several years of healthy profits, despite some softening, the reinsurance market remains in good shape – if discipline remains. Meanwhile, new and complex risks are emerging, including data centres, offering big opportunities for growth for those willing to take it on. They were some of the takeaways from 10 senior executives from the Bermuda market who met at a roundtable in Monte Carlo.