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Jan 17, 2025 | 
mondaq.com | Lucy Frew |Ian Mason
Key takeawaysAmendments to the Cayman Islands Proceeds of Crime Act cameinto effect on 2 January 2025 and include revisions to thesuspicious activity report (SAR) process to the Financial ReportingAuthority (FRA). In addition to a SAR, a person must now also receive priorconsent from the FRA in order to have a defence against moneylaundering (DAML).
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Nov 22, 2024 | 
jdsupra.com | Lucy Frew
The Law Commission’s supplemental report on digital assets as personal property (report), the Property (Digital Assets etc) Bill and the recent judgment in D’Aloia v Persons Unknown and Ors [2024] EWHC 2342 (Ch) were all published on 12 September 2024. As well as being significant for those involved in the cryptoasset sector domestically, the report, Bill and judgment will also be influential in other jurisdictions and sectors.
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Sep 25, 2024 | 
jdsupra.com | Lucy Frew |Sara Hall |Iona Wright
Approaches and developmentsThe government of the British Virgin Islands (“BVI”) and the BVI Financial Services Commission (“FSC”) – the principal financial services regulator – have progressed important initiatives in recent years that demonstrate the BVI’s unequivocal commitment to digital transformation and Fintech innovation.
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Sep 5, 2024 | 
mondaq.com | Lucy Frew |Natalie Curtis |Louise Denman
W
Walkers
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Walkers is a leading international law firm which advises on the laws of Bermuda, the British Virgin Islands, the Cayman Islands, Guernsey, Ireland and Jersey. From our 10 offices, we provide legal, corporate and fiduciary services to global corporations, financial institutions, capital markets participants and investment fund managers.
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Sep 5, 2024 | 
jdsupra.com | Natalie Curtis |Louise Denman |Lucy Frew
Key takeaways The RSOG builds upon and clarifies existing market conduct standards for TCSPs and Company Managers where the underlying requirements are generally the same but with some differences. The RSOG implements market conduct rules as well as guidance, which increases CIMA's enforceability of breaches of these measures.
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Aug 7, 2024 | 
mondaq.com | Lucy Frew |Nicholas Quin |Andrew Howarth |Sara Hall
Changes to the beneficial ownership regime took effect on 31
July 2024 and enforcement relating to the new requirements is
suspended until early 2025.
Many entities that previously had few or no obligations will
have to take steps to comply.
Industry members are to suspend filing under the previous
framework until notified to recommence filing under the new
framework.
What is the beneficial ownership regime?
What is changing?
Which entities are in scope?
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Jul 26, 2024 | 
mondaq.com | Lucy Frew |Andrew Howarth |Dilmun Leach |Ian Mason
KEY TAKEAWAYS:
Regulators must develop systems that work with the
decentralised nature of blockchain and digital assets, while
focusing on consumer protection and accountability at the same
time.
Increased international cooperation is a must for making
effective regulatory frameworks that can handle the borderless
operations of blockchain enterprises.
Tokenisation is set to be a key feature of the next decade of
decentralisation.
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Mar 14, 2024 | 
lexology.com | Lucy Frew |Andrew Howarth |Ian Mason |Colm Dawson |Benjamin Twidle |Louise Denman | +5 more
IntroductionThe Cayman Islands Monetary Authority ("CIMA") recently issued an updated Regulatory Policy on Consolidated Supervision (the "Policy"). The Policy expands on an earlier version published in 2009 and provides updated guidance on CIMA's approach to group supervision. What is consolidated supervision and who does it apply to?
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Feb 9, 2024 | 
mondaq.com | Lucy Frew |John Cartwright |Mark Cummings |James Gaden
Welcome to our 2024 Asia Fundamentals series, hosted in Hong
Kong, Singapore and Tokyo.
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Jan 31, 2024 | 
jdsupra.com | John Cartwright |Mark Cummings |Lucy Frew
Every year, we track certain key data from new funds that we help our clients launch. By reviewing this data, comparing it with similar surveys and incorporating insights from our conversations with clients, we aim to draw out the key themes of the year and offer some predictions about how these trends may develop.
Please see full publication below for more information.
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