Regulatory Blog

On 31 January 2025, the BVI Financial Services Commission published a news release summarising key takeaways from its two key international regulatory forums: the Meet the Regulator Forum in Hong Kong and the BVI Financial Services Round Table in London.

On 11 February 2025, the British Virgin Islands Government announced that the jurisdiction has secured an investment-grade BBB/A-2 sovereign credit rating from S&P Global, with a stable outlook.

On 4 February 2025, the Cayman Islands published several revised financial and corporate laws to improve regulatory clarity, efficiency, and compliance. These updates impact businesses in company management, banking, and anti-money laundering frameworks.

The Cyprus Securities and Exchange Commission previously issued a comprehensive Policy Statement (PS03-2024) outlining fees and reporting requirements under the Markets in Crypto-Assets Regulation. This policy establishes guidelines for participants engaging in crypto-asset markets across the European Union.

On 31 January 2025, the Cyprus Securities and Exchange Commission announced that the European Securities and Markets Authority has introduced the Common Supervisory Approach 2024-25 with respect to the integration of sustainability in firms’ suitability assessment as well as product governance processes and procedures in 2024.

On 17 February 2025, the Government of Bermuda released its third consultation paper on the Corporate Income Tax Act 2023, focussing on provisions to ensure the effective administration of the CIT Act. This follows a careful review of feedback from the first two consultations, further refining the proposals to strike a balance between ease of administration and taxpayer compliance costs and robust tax collection and liability determination mechanisms. The consultation closes on 10 March 2025, and stakeholders are invited to submit their comments and suggestions via email.

On 24 February 2025, the European Union announced its sixteenth sanctions package against Russia, reaffirming its commitment to supporting Ukraine’s sovereignty, territorial integrity, and independence. This comprehensive package intensifies economic and political pressure on Russia amidst its ongoing military aggression, now entering its fourth year. The measures target critical sectors, close loopholes, and aim to further weaken Russia’s ability to sustain its war efforts.

On 13 February 2025, the EU published key regulatory technical standards in its Official Journal on Regulation 1114/2023 on markets in crypto-assets, along with an additional RTS supplementing Digital Operational Resilience Act, Regulation 2022/2554.

On 24 February 2025, the UK announced its most significant sanctions package since the early days of Russia's full-scale invasion of Ukraine. Marking three years since the conflict began, these measures target over 100 entities and individuals aiding Russia's war efforts, reflecting the government's commitment to securing peace and stability in Europe.