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Nov 22, 2024 | 
mondaq.com | Marcel Treurnicht |Rajah Abusrewil |David C. Cooney |Rupert Morris
Employers are increasingly aware of the essential role
top-performing employees play in the success of their business. With a globalised workforce and competitive job market, companies
that do not focus on employee retention strategies risk losing
their key talent to more lucrative opportunities.
A commonly used method to secure employee loyalty is through a
well-structured employee incentive scheme, with the Employee
Benefit Trust ("EBT") considered as an
invaluable structure.
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Nov 21, 2024 | 
jdsupra.com | Rajah Abusrewil |David C. Cooney |Rupert Morris
IntroductionEmployers are increasingly aware of the essential role top-performing employees play in the success of their business. With a globalised workforce and competitive job market, companies that do not focus on employee retention strategies risk losing their key talent to more lucrative opportunities. A commonly used method to secure employee loyalty is through a well-structured employee incentive scheme, with the Employee Benefit Trust ("EBT") considered as an invaluable structure.
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Sep 30, 2024 | 
jdsupra.com | Rajah Abusrewil |David C. Cooney |Rupert Morris
Currently, no, there are not public beneficial ownership registers in respect of trusts (at least in the British Virgin Islands ("BVI"), Cayman, Jersey, Guernsey or Bermuda), however, if enacted in the form gazetted, the BVI Trustee (Amendment) Bill (the "Bill") will in effect introduce beneficial ownership registers in respect of certain trusts – although, this will be a private 'register' it will not be a publicly accessible 'register’.
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Aug 22, 2023 | 
jdsupra.com | Jamie Bookless |David C. Cooney |Chris Hutley-Hurst
IntroductionThe Trading Standards (Fair Trading) (Guernsey) Ordinance, 2023 (the "Trading Standards Ordinance") is due to come into force on 2 October 2023. From this date, businesses in Guernsey will be subject to trading standards requirements and consumers in Guernsey will have consumer rights in turn. This briefing by Walkers Guernsey regulatory team summarises key areas of the Trading Standards Ordinance. Who is affected?
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Aug 22, 2023 | 
jdsupra.com | Jamie Bookless |David C. Cooney |Chris Hutley-Hurst
IntroductionThe Trading Standards (Fair Trading) (Guernsey) Ordinance, 2023 (the "Trading Standards Ordinance") is due to come into force on 2 October 2023. From this date, businesses in Guernsey will be subject to trading standards requirements and, in turn, consumers in Guernsey will have consumer rights. This briefing by Walkers Guernsey regulatory team summarises provisions relating to unfair contract terms which are introduced by the Trading Standards Ordinance.
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Aug 9, 2023 | 
jdsupra.com | Adam Cole |David C. Cooney |Craig Cordle
IntroductionThis briefing explains Guernsey’s adoption of rigorous international tax and regulatory standards, which, in conjunction with its local tax law, make it an ideal location for investment funds and other investment vehicles. Guernsey is a leading global finance centre with a top-tier finance industry.
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Aug 8, 2023 | 
lexology.com | Sarah Brehaut |Adam Cole |David C. Cooney |Chris Hutley-Hurst |Rupert Morris |Alison Ozanne | +3 more
In our recent article (available here) we considered the findings of LB Marshall KC in Domaille, Clarke & Hannis (together the "Respondents") and the Guernsey Financial Services Commission (the "Royal Court Judgment"). In the Royal Court Judgment, LB Marshall KC allowed an appeal brought by the Respondents against sanctions imposed upon them by a Senior Decision Maker (“SDM”) appointed by the Guernsey Financial Services Commission ("GFSC").
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Jul 24, 2023 | 
mondaq.com | Matt Sanders |Chris Hutley-Hurst |Rupert Morris |David C. Cooney
The Guernsey Financial Services Commission
("GFSC") updated its Handbook on
Countering Financial Crime and Terrorist Financing (the
"Handbook") in early July 2023 and the
updates included a new requirement for a "specified
business" to establish and maintain an independent compliance
audit function. To read more about the further changes to the
Handbook, read our briefing.
What businesses does the compliance audit requirement relate
to?
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Jul 21, 2023 | 
jdsupra.com | Jamie Bookless |David C. Cooney |Chris Hutley-Hurst
The Guernsey Financial Services Commission ("GFSC") updated its Handbook on Countering Financial Crime and Terrorist Financing (the "Handbook") in early July 2023 and the updates included a new requirement for a "specified business" to establish and maintain an independent compliance audit function. To read more about the further changes to the Handbook, read our briefing. What businesses does the compliance audit requirement relate to?
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Jul 19, 2023 | 
jdsupra.com | Jamie Bookless |David C. Cooney |Chris Hutley-Hurst
This briefing is the fourth in a series of briefings by Walkers on the Lending, Credit and Finance (Bailiwick of Guernsey) Law, 2022 (the "LCFL"), and provides an overview of the licensing regime applicable to Virtual Asset Service Providers ("VASPs") under Part III of the LCFL (a "Part III VASP Licence") and the key aspects of the Lending, Credit and Finance Rules and Guidance, 2023 (the "Rules"), issued by the Guernsey Financial Services Commission (the "GFSC") applicable to the holder of a...
