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How to manage the succession of a BVI Co
Private Wealth

How to manage the succession of a BVI Co

In this article, originally published by Private Banker International, Matthew Howson shows how advisors can manage the succession of a BVI Co.
BVI FSC signs memorandum of understanding with UK FCA
Regulatory and Tax

BVI FSC signs memorandum of understanding with UK FCA

Given the global harmonisation of the various financial markets and the increase in cross-border operations and activities of managers of alternative investment funds (AIFs), the BVI’s Financial Services Commission and the UK’s Financial Conduct Authority have signed a memorandum of understanding (MoU) relating to mutual legal assistance in the supervision of managers of AIFs, their delegates and depositaries that operate on a cross-border basis in the BVI and the UK. The MoU is generally structured similarly to an information exchange agreement. The MoU comes into force on the date the European Union legislation cease to have direct effect in the UK.
Harneys Hong Kong hire new Banking and Finance Partner
Banking and Finance

Harneys Hong Kong hire new Banking and Finance Partner

Harneys is pleased to announce the continued expansion of its Asia practice with the addition of partner Charles Clayton-Payne to its Hong Kong Banking and Finance team this week.
Cayman Court provides valuable guidance on dealing with frozen assets under Libyan sanctions
Regulatory and Tax

Cayman Court provides valuable guidance on dealing with frozen assets under Libyan sanctions

In Palladyne International Asset Management B.V. v Upper Brook (A) Ltd and Others, the Grand Court of the Cayman Islands issued important judicial guidance regarding the extent to which the dealing restriction under the Libyan sanctions regime was applicable in the Cayman Islands. In particular, the court was asked to examine the scope and meaning of the restriction on the ‘use’ of funds frozen under the Libya (Restrictive Measures) (Overseas Territories) Order 2011.
New 2019 partner hire for Harneys Hong Kong expanding Funds Practice
Investment Funds

New 2019 partner hire for Harneys Hong Kong expanding Funds Practice

Harneys is pleased to announce that Yin Xu joined as a transactional partner in our Hong Kong office. Yin joins the team from another offshore firm, where he was Partner in the Corporate team since 2016.
British Virgin Islands: No extension to FATCA and CRS reporting deadline for reporting Financial Institutions
Regulatory and Tax

British Virgin Islands: No extension to FATCA and CRS reporting deadline for reporting Financial Institutions

The BVI ITA announced yesterday that the FATCA and CRS reporting deadline for all reporting Financial Institutions (FIs) other than Trustee Documented Trusts (TDT) remains 31 May 2019. TDTs with CRS reportable accounts have until 28 June 2019 to complete their CRS reporting for the 2018 calendar year.