Regulatory

Blog

Regulatory

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, Cyprus and Luxembourg. We intend to include the latest financial services, anti-money laundering, sanctions and related developments within our remit.

Contributors

Aki Corsoni-Husain
Aki Corsoni-Husain
  • Aki Corsoni-Husain

  • Partner
  • Cyprus
George Apostolou
George Apostolou
  • George Apostolou

  • Partner
  • Cyprus
Jermaine Case
Jermaine Case
  • Jermaine Case

  • Associate
  • British Virgin Islands
Chiara Deceglie
Chiara Deceglie
  • Chiara Deceglie

  • Partner
  • Luxembourg
Massimiliano della Zonca
Massimiliano della Zonca
  • Massimiliano della Zonca

  • Senior Associate
  • Luxembourg
Philip Graham
Philip Graham
  • Philip Graham

  • Partner
  • British Virgin Islands
Ayana Hull
Ayana Hull
  • Ayana Hull

  • Counsel
  • British Virgin Islands
Katerina Katsiami
Katerina Katsiami
  • Katerina Katsiami

  • Associate
  • Cyprus
Petros Kiteos
Petros Kiteos
  • Petros Kiteos

  • Associate
  • Cyprus
Andrew Knight
Andrew Knight
  • Andrew Knight

  • Partner
  • Luxembourg
Evi Koutsioumpa
Evi Koutsioumpa
  • Evi Koutsioumpa

  • Associate
  • Luxembourg
Joshua Mangeot
Joshua Mangeot
  • Joshua Mangeot

  • Counsel
  • British Virgin Islands
Mirza Manraj
Mirza Manraj
  • Mirza Manraj

  • Counsel
  • Hong Kong
Elina Mantrali
Mirza Manraj
  • Elina Mantrali

  • Associate
  • Cyprus
Vanessa Molloy
Vanessa Molloy
  • Vanessa Molloy

  • Partner
  • Luxembourg
Andrea Moundi Savvides
Andrea Moundi Savvides
  • Andrea Moundi Savvides

  • Associate
  • Cyprus
Marina Stavrou
Marina Stavrou
  • Marina Stavrou

  • Associate
  • Cyprus
Matt Taber
Matt Taber
  • Matt Taber

  • Partner
  • Cayman Islands
Carolynn Vivian
Carolynn Vivian
  • Carolynn Vivian

  • Senior Associate
  • Cayman Islands

BVI competent authorities maintain operations during COVID-19 outbreak

The BVI government announced on 18 March 2020 that the territory would go into partial lockdown to tackle the COVID-19 pandemic with effect from 19 March.  In response the competent authorities, which are central to the operation of the financial services industry, have informed the public that they will continue to remain operational in this extraordinary period.

Aki Corsoni-Husain, Ayana Hull,
Joshua Mangeot

Sanctions update: Maldives and Eritrea

The United Kingdom left the European Union at 11pm GST on 31 January 2020. As such, the sanctions regime that will apply to the British Overseas Territories will now need to be more closely aligned with the United Kingdom post the departure from the European Union. The United Kingdom is in the process of finalising the Sanctions (Overseas Territories) Order 2020 to ensure that the sanctions regime that will be in place in the United Kingdom can also be implemented and enforced in the British Overseas Territories. Further guidance will be published on this in due course.

Aki Corsoni-Husain, Mirza Manraj

EU List of Non-cooperative Jurisdictions for Tax Purposes Updated: Cayman and BVI

On 18 February 2020, The European Union updated its List of Non-cooperative Jurisdictions for Tax Purposes. Although Cayman finalised its legislation earlier this year to regulate private investment funds and updated the Mutual Funds Law to complete the regulatory framework covering other collective investment vehicles, the EU determined that it failed to implement measures relating to economic substance in the area of collective investment vehicles within the agreed timetable and therefore “did not deliver on the commitment on time”, and in this respect was placed on the blacklist.

Carolynn Vivian, Philip Graham