469 Results

Search

Harneys bolsters Litigation and Restructuring practice in London
Litigation, Insolvency and Restructuring

Harneys bolsters Litigation and Restructuring practice in London

We are pleased to announce that Richard Brown has re-joined the firm as Counsel in the London Litigation and Restructuring practice.
ESMA’s ban on binary options and highly leveraged CFDs for the retail market
Regulatory and Tax

ESMA’s ban on binary options and highly leveraged CFDs for the retail market

On 27 March 2018, ESMA announced its intention to impose product intervention measures under MiFID II including a total prohibition on the provision of binary options and restrictions on the provision of some contracts for differences (CFDs) for retail investors.
EU Directive on Mandatory Disclosure for Intermediaries – “DAC6”
Regulatory and Tax

EU Directive on Mandatory Disclosure for Intermediaries – “DAC6”

On the 13 March 2018 the ECOFIN Council reached an agreement to adopt the European Commission’s proposals to amend the Directive 2011/16/EU on administrative cooperation in the field of taxation by imposing mandatory disclosure rules on intermediaries who assist in tax aggressive arrangements. These proposals are inspired by BEPS Action 12, an ongoing related project at an OECD level.
Cayman Islands Investment Funds AML Update: Natural persons must be appointed as AML officers
Anti money laundering (AML) and terrorist financing compliance

Cayman Islands Investment Funds AML Update: Natural persons must be appointed as AML officers

The Cayman Islands Monetary Authority (CIMA) has confirmed that Cayman Islands investment funds must appoint natural persons as their money laundering reporting officer, deputy money laundering reporting officer and AML compliance officer (AMLCO/MLRO functions). Many funds currently delegate performance of these functions to their administrator or another service provider that is regulated for AML in an equivalent jurisdiction, especially where the fund itself does not have any individual employees, and there has not historically been a requirement in those situations to appoint a natural person to hold those offices. CIMA has confirmed that funds can subsequently delegate the AMLCO/MLRO functions, as long as they have designated suitable natural persons to the roles.
The relevance of the GDPR to offshore
Regulatory and Tax

The relevance of the GDPR to offshore

The GDPR, more precisely the General Data Protection Regulation, will come into force in the EU on 25 May 2018. Being EU law it might reasonably be imagined that it would be of minor direct relevance to institutions and establishments based offshore and outside of the EU. Not so. The territorial scope of the new regime is widely cast and will undoubtedly be of relevance to information and data travelling from the EU to offshore (and visa versa).
Harneys advises Banco do Brasil S.A. on the issuance of notes under their US$20bn senior unsecured programme
Banking and Finance

Harneys advises Banco do Brasil S.A. on the issuance of notes under their US$20bn senior unsecured programme

Harneys advises Banco do Brasil S.A. (acting through its Grand Cayman branch) on the issuance of the Series No.:3 Tranche under the US$20,000,000,000 Euro Medium Term Note Programme. This is the first issuance by Banco do Brasil in 2018 in the international capital markets.