About the Regulatory Blog and our contributors
The Regulatory Blog is an informal and up to date news and information service of key regulatory developments in our jurisdictions: the BVI, the Cayman Islands, Anguilla, Bermuda, Cyprus, and Luxembourg. We intend to include the latest financial services, anti-money laundering, sanctions and related developments within our remit.
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ESMA Report: Understanding crypto asset markets and implications for EU regulation
On 10 April 2024, the European Securities and Markets Authority published an extensive article “Crypto assets: Market structures and EU relevance” offering a comprehensive analysis of trends within secondary markets for crypto assets.
07 May 2024
British Virgin Islands regulatory inspections and their importance
Licensees and their operators should take note that the BVI Financial Services Commission has recently published reports focussing on the importance of inspections in the forthcoming year, as well as their findings.
03 May 2024
Cyprus regulators publicise Article 5r reporting guidance issued under EU Council Regulation 833/2014
In a key development towards supporting financial transparency, the European Commission, on 12 April 2024, issued a set of FAQs explaining reporting obligations under Article 5r of EU Council Regulation 833/2014, ie the EU’s set of trade sanctions on Russia. This anticipated EU guidance has been met with significant attention, particularly from entities navigating the details of compliance amidst heightened regulatory scrutiny.
02 May 2024
ESMA's response to the revised ELTIF Regulation: Proposed amendments and balancing investor interests
The revised European Long-Term Investment Fund Regulation mandates the European Securities and Markets Authority to develop draft Regulatory Technical Standards addressing various aspects such as compatibility of ELTIF's life with asset life cycles, redemption policy features, costs disclosure, and other criteria related to financial derivative instruments and asset disposal.
30 Apr 2024
Cayman Islands strengthens Anti-Money Laundering measures with 2024 Amendment Regulations
On 19 April 2024, the Cayman Islands government published the Anti-Money Laundering (Amendment) Regulations, 2024. Those regulations aim to improve measures to combat money laundering, terrorist financing, and proliferation financing.
29 Apr 2024
Cayman Islands publishes the CRS lists for participating jurisdictions and reportable jurisdictions
On 24 April 2024, the Cayman Islands Department for International Tax Cooperation (DITC) announced the publication of the Common Reporting Standard (CRS) lists of participating jurisdictions and reportable jurisdictions.
26 Apr 2024
Streamlining licensing for Cyprus Investment Firms – MiFID II and MiCA
At present, Cyprus-based crypto exchanges that wish to provide services both in relation to spot crypto products and financial instruments such as crypto derivatives are subject to dual-licensing under the local AML legislation and the traditional investment services regime implementing EU Directive 2014/65/EU. The Cyprus Securities and Exchange Commission administers both regimes.
25 Apr 2024
Digital Services Act: Safeguarding online interactions in the EU
On 17 February 2024, the Digital Services Act (DSA) came into effect, applying to all online intermediaries operating within the EU. This comprehensive regulation aims to enhance online safety, fairness, and transparency for users.
24 Apr 2024
Update to the BVI’s Mutual Legal Assistance (Tax Matters) Act 2003
The Minister, on the advice of the BVI International Tax Authority, made the Mutual Legal Assistance (Tax Matters) (Fees) Order 2024.
23 Apr 2024