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The British Virgin Islands’ fintech revolution
Investment Funds

The British Virgin Islands’ fintech revolution

The BVI is reportedly the second biggest cryptocurrency market in the world, according to statistics published by CoinShares, which used data collected from the 15 biggest cryptocurrency exchanges and concluded that the BVI had a trading volume in crypto assets valued at USD78.5 billion, in the first six months of 2018. This puts it just USD5.3 billion behind the USA. We also noted in a recent PwC report that two of the three largest Initial Coin Offerings (ICOs) have also been domiciled in the BVI.
Cayman Islands: AML Officers
Investment Funds

Cayman Islands: AML Officers

The Cayman Islands Monetary Authority (CIMA) announced on 24 September that grace period extensions had been given for the appointment and notification of the appointment of anti-money laundering compliance officers, money laundering reporting officers and deputy money laundering reporting officers (AML Officers) for investment funds.
Bermuda: a safe haven for directors?
Investment Funds

Bermuda: a safe haven for directors?

When looking to launch a new hedge fund, choice of jurisdiction is inevitably at the forefront of the decision-making process. In this article, extracted from the HFM Bermuda 2018 Special Report, Mark Burrows discusses the advantages of choosing Bermuda as a jurisdiction. Download the PDF to read more.
Cyprus introduces a new fund vehicle: the Registered Alternative Investment Fund
Investment Funds

Cyprus introduces a new fund vehicle: the Registered Alternative Investment Fund

On 31 July 2018, the highly anticipated Alternative Investment Funds Law 2018 (New AIF Law) came into force, repealing the pre-existing regime. Among its key innovations, the New AIF Law introduces the Registered Alternative Investment Fund (RAIF).
BVI Legal Update - Autumn 2018
Investment Funds

BVI Legal Update - Autumn 2018

Over the last few months, the British Virgin Islands has introduced a number of innovative new and updated laws, enhancing the range of commercially attractive legal structures available in the jurisdiction. The next exciting chapter will be revealed on 1 October, when amendments to the BVI Business Companies Act (BCA) will come into force to expand the use of segregated portfolio companies (SPCs) beyond the funds and insurance sectors. This update looks at the expanded use of SPCs, the new Limited Partnership Act, the Micro Business Companies Act and amendments to the Anti-Money Laundering Code to allow electronic AML checks.
Termination and De-registration of Cayman Regulated Funds: Consider action now to reduce 2019 fees
Investment Funds

Termination and De-registration of Cayman Regulated Funds: Consider action now to reduce 2019 fees

Managers of Cayman Islands regulated funds who are reviewing whether to wind any funds down before the end of 2018 may want to act promptly to avoid or reduce the annual 2019 Cayman Islands Monetary Authority (CIMA) fees and related costs.