Cordium, a provider of governance, risk and compliance services, has launched a solution to help firms adapt to the new requirements of the Criminal Finances Act, set go into effect in September 2017.
Legal & Regulation
Bobby Johal, Managing Consultant, at Cordium, responds to the European Commission’s announcement that it has started work on the review of the AIFMD…
For managers who may already be using an onshore Delaware LLC, they now have the opportunity to use a Bermuda LLC as an offshore vehicle. This follows the formal introduction of the Limited Liability Company Act 2016 (LLC Act), which was passed in the Senate in July 2016 and became operative on 1 October, 2016.
Bermuda's financial regulator, the Bermuda Monetary Authority, takes a risk-based approach to regulating and supervising the entities for which it is responsible, including investment funds, investment providers, fund administrators, trust companies, insurers and banks.
As family offices look for the best jurisdictions in which to establish trusts and wealth preservation vehicles, being able to benchmark the institutional quality of a specific jurisdiction and rely on high-quality outsourcing options, are increasingly important considerations. The following report provides an overview of how and why Bermuda is living up to these expectations.
Dechert’s Matthew Kerfoot (pictured) comments on FSB’s newly issued Policy Recommendations on the use of leverage by investment funds…
With its ideal geographical position at the crossroads of three continents – Europe, Africa and Asia, Cyprus plays a key role in the region of the Eastern Mediterranean. As a safe, transparent, modern business centre, the island is an ideal investment gateway to the European Union, as well as a portal for investment outside the EU, particularly into the Middle East, India and China.
By Donnacha O’Connor (pictured), Partner at Dillon Eustace – Ireland has a well-established reputation as a leading funds centre, being home to 6,470 regulated investment funds as of December 2016 according to the Central Bank of Ireland, and as a leading fund servicing centre.
Locate Jersey is part of the Economic Development, Tourism, Sport and Culture department within the Jersey Government (`States of Jersey'). Headed up by Director of International Trade, Wayne Gallichan (pictured), the role of Locate Jersey is to promote Jersey as a place to do business and to attract suitable businesses to the island, as well as HNW individuals; particularly those that are still economically active.
Since 2012, the BVI has introduced three exciting and innovative investment fund products, namely: the BVI Approved Manager, the BVI Incubator Fund and the BVI Approved Fund. The Approved Manager was introduced at the end of 2012, followed by the Incubator Fund and Approved Fund in mid-2015, and each has been growing steadily since their launch. Currently, there are 140 Approved Managers, 21 Incubator Funds and 29 Approved Funds, based on figures published by the BVI Financial Services Commission (as of 30 September 2016).