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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Financial sanctions updates from Bermuda Monetary Authority
The Bermuda Monetary Authority has recently issued important updates regarding financial sanctions. These measures mandate that financial institutions evaluate their exposure to newly listed entities, freeze any relevant assets and report their actions to the Reporting Authority.
21 Feb 2025
BVI FSC and FIA release guidance on effective ongoing monitoring
On 24 January 2025, the BVI Financial Services Commission and the Financial Investigation Agency issued new guidance to enhance how financial institutions and designated non-financial businesses and professions monitor their customers.
20 Feb 2025
The importance of a crisis management framework: CIMA’s strategic commitment
On 10 January 2025, the Cayman Islands Monetary Authority published a circular reaffirming its dedication to enhancing the stability and resilience of the Cayman Islands’ financial sector. In today’s interconnected financial world, establishing a robust crisis management framework is essential for regulated entities, especially those of systemic importance.
19 Feb 2025
Financial sanctions updates from Cayman Islands’ Monetary Authority
The Cayman Islands Monetary Authority recently issued important updates regarding financial sanctions. These measures mandate that financial institutions evaluate their exposure to newly listed entities, freeze any relevant assets, and report their actions to the Reporting Authority.
17 Feb 2025
ESMA’s guidance on non-MiCA compliant crypto-asset services
On 17 January 2025, the European Securities and Markets Authority (ESMA) issued a statement on providing crypto-asset services related to Asset-Referenced Tokens (ARTs) and Electronic Money Tokens (EMTs) which are not compliant with EU Regulation 1114/2023 on markets in crypto-assets (MiCA).
14 Feb 2025
Update to UK Sanctions on Russia-Ukraine-Belarus (up to 14 February 2025)
Following the invasion of Ukraine by Russia, the UK Government, alongside the member states of the European Union, the United States of America and other global stakeholders issued significant new sanctions. View a table of all the sanctions here
14 Feb 2025
Updated CIMA and registry fees now in effect
Effective 1 January 2025, the Cayman Islands Monetary Authority and General Registry have implemented updated government fees for various services. Approved by Cayman Islands Parliament on 9 December 2024 after consultation with industry stakeholders, these changes include updates to fees that had remained unchanged for over a decade.
12 Feb 2025
Luxembourg implements the EU Mobility Directive
On 23 January 2025, the Luxembourg Parliament approved Bill n°8053 transposing into Luxembourg domestic law Directive (EU) 2019/2121 which represents a significant step in harmonising the legal framework for corporate restructuring, mergers, and divisions across EU member states. Its primary aim is to facilitate cross-border mergers and restructuring within the EU by improving the legal and operational frameworks for such corporate processes.
11 Feb 2025
BVI FSC and FIA Survey: Assessing the impact of industry guidance
On 30 January 2025, the BVI Financial Services Commission and the Financial Investigation Agency announced that they are conducting a survey to assess the impact of their guidance documents on AML/CFT/CPF compliance, industry standards and best practices.
10 Feb 2025