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
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

  • Senior 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

ITA issues notifications for policies and procedures

On 12 May 2020, the BVI International Tax Authority (ITA) published a press release advising that requests were issued to certain BVI Financial Institutions to produce their written policies and procedures within 10 working days, as part of the CRS compliance regime.

Hazel O'Brien

DAC 6 and CRS extension of reporting deadlines proposals

Following extensive lobbying by not only financial institutions and intermediaries, but also by EU governments, the EU Commission has published a proposal for an extension of the reporting deadlines in relation to both the CRS and DAC 6 reporting regimes. The proposals are in the form of an amendment to the Directive on Administrative Co-operation and so will need EU Council approval. This is likely to be forthcoming notwithstanding that certain member states were asking for longer extensions.

Andrew Knight

CRS Compliance Form

The Cayman Islands DITC released the new CRS Compliance Form. Although the 2020 deadline for submission of this form is 31 December 2020, the DITC has published it to provide as much advance notice as possible as there are new requirements. As a result of industry consultation, the form, which the DITC have been developing for some time, has been improved and simplified to assist users. A detailed user guide will be published in due course.

Matt Taber, Carolynn Vivian,
Hazel O'Brien
CRS