Updates

The Cayman Islands has a constantly evolving governance framework. Here’s an overview of what to expect in 2024.

The previous BOR applied only to companies, LLCs and LLPs. The Act brings new entities into scope and applies to all “legal persons”.

After 225 years, the UK is scrapping its non-dom regime exempting non-UK residents in the country from paying foreign income taxes.

BVIFARS Portal annual fee requirement effective in January 2024; payment deadline set at 1 June annually.

The EU Council and Parliament agreed on new stricter anti-money laundering or AML rules in the EU. Here’s an overview.

ATAD III is unlikely to be enacted on 01 January 2024 as technical work still needs to be done to the directive.

The final text of the proposed amendments to the AIFMD II has been published. Here are the key highlights (November 2023)

On 10 October, the CSSF launched a diversity survey among management bodies of LSIs. Here are the results and what they mean.

The US SEC implements sweeping rules for the $20T private (PE) funds industry to promote transparency.

As part of its efforts to combat ML/TF in the crypto space, the EU expands its rules to make crypto-asset transfers traceable.

The Ministry of Finance and Ministry of Economy in Luxembourg recently introduced new tax rules and funds legislation updates.

By 2024, Brazil tax residents will have to comply with the recently introduced new tax rules in the country. Where do these rules apply?

The Cayman government consolidated guidelines and regulations on applying risk-based approach in conducting AML/CTF processes.

Hong Kong has a thriving legal cryptocurrency trading.

As part of its efforts to promote sustainability and environmental, social and governance (ESG) and combat greenwashing, the European Union modified the last Directive 2014/95/EU or the Non-Financial Reporting Directive (NFRD).

Brazil recently enacted a new tax regime that would affect its citizens, particularly those with assets in other countries.

The European Commission (“EC”) initially required financial products to report on ESG (Environmental, Social and Governance) matters under the Sustainable Finance Disclosure Regulation (“SFDR”), which states all products should integrate sustainability risks into an investment decision.

On 20 April 2023, the European Parliament approved the new Markets in Crypto-Assets (MiCA) Law.

The Commission de Surveillance du Secteur Financier (CSSF) in Luxembourg has updated the SFDR FAQ to provide clarity to the investment fund industry on aspects of Regulation (EU) 2019/2088 on sustainability-related disclosures in the financial services sector (SFDR).

Bolder Group expands its global footprint by increasing its presence in the European Union as it completed the acquisition of Business Services Group (BSG), an Ireland-based licenced trust and corporate services provider.

In an effort to increase transparency and combat the risks of “greenwashing,” the European Securities and Markets Authority (ESMA), the EU’s financial markets regulator and supervisor, has developed guidelines for the use of sustainability-related terms or ESG principles in fund names.

The CSSF now require FSPs and FAs to complete a questionnaire through new eDesk module called “SFDR-IFM disclosures”, starting 02 February.

On 17 January 2023, the EU Parliament proposed a number of amendments to the Anti-tax avoidance directive 3 (ATAD 3) or what is known as the Unshell Directive.

Two days prior to its original expiration on 13 January 2023, the VCC Grant Scheme was extended for another two years to 15 January 2025.

Under a recent EU proposal, crypto-asset service providers are required to report user transactions.

The Organisation for Economic Co-operation and Development (OECD), has published the Crypto-Asset Reporting Framework (CARF) to G20 countries on 10 October 2022.

Combating the flow of dirty money is a complex problem that has existed for a while.

There are various amendments that the BCA Amendment 2022 introduces.

Financial authorities from the US and UK are looking to strengthen regulations on the broader crypto market and explore CBDCs.

Here are the key points you need to know about the new cryptocurrency regulations in Hong Kong under the AML/CTF (Amendment) Bill 2022.

To help pay off a record-high national debt, the current Philippine administration proposes imposing taxes on crypto transactions.

Following the epic crash of the algorithmic stablecoin Terra Luna, G7 calls for swift and tougher crypto regulations. Read more in this blog.

At one point, the Terra Luna blockchain was valued at $40 billion. Then, it came crashing down. How did that happen?