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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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Nov 15, 2024 | 
mondaq.com | Aaron Sanders |Rupert Morris |Adam Cole
In a recent supplementary judgment on costs, Lieutenant Bailiff
of the Royal Court of Guernsey, Hazel Marshall KC (the
"Judge"), considered inter alia
the recovery of foreign lawyers' costs in hostile proceedings
in Guernsey. More specifically, it was the recoverability of fees
charged by English solicitors and English counsel (noting that this
was almost invariably the case when it comes to the costs
of external or foreign lawyers in Guernsey proceedings).
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Nov 14, 2024 | 
jdsupra.com | Adam Cole |Rupert Morris |Aaron Sanders
BX v T Limited and AX and JX and CX and OX and PX and QX [2024]GRC066 (27 September 2024)In a recent supplementary judgment on costs, Lieutenant Bailiff of the Royal Court of Guernsey, Hazel Marshall KC (the "Judge"), considered inter alia the recovery of foreign lawyers' costs in hostile proceedings in Guernsey.
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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 23, 2023 | 
mondaq.com | Matt Sanders |Chris Hutley-Hurst |Rupert Morris |Jamie Bookless
The 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.
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Aug 9, 2023 | 
mondaq.com | Sarah Brehaut |Adam Cole |Chris Hutley-Hurst |Rupert Morris
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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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 19, 2023 | 
mondaq.com | Matt Sanders |Chris Hutley-Hurst |Rupert Morris |David C. Cooney
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...
